A better reading of US gross domestic product (GDP) data was also welcomed by Treasury Secretary Janet Yellen who said the reading showed strength in the economy.
Commenting on the newly published data, Yellen still does not see a recession imminent, but the US government is ready to respond to economic weakness.
Nevertheless, Yellen said that although the economy is seen to grow strongly this quarter, but growth needs to slow down to show that US action in controlling inflation is effective.
The US economy grew stronger in the third quarter by 2.6%, rebounding from two consecutive contractions in the first half of the year.
However, the biggest factor to this growth is the surge in exports, leading some economists to not expect growth to continue at the end of this year or early 2023.
In the meantime, he also told that the Treasury is studying a long-term reform plan to increase liquidity and reduce the Fed's additional liquidity ratio requirement for banks is a potential strategy.
