Yellen shrugs off recession fears, citing US unemployment at 53-year low
US Treasury Secretary Janet Yellen on Monday said she saw a path for avoiding a US recession, with inflation coming down significantly and the economy remaining strong, given the strength of the US labour market.
"You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years," Yellen told ABC's Good Morning America program.
"What I see is a path in which inflation is declining significantly and the economy is remaining strong."
"You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years," Yellen told ABC's Good Morning America program.
"What I see is a path in which inflation is declining significantly and the economy is remaining strong."
Yellen said inflation remained too high, but it had been falling for the past six months and could decline significantly given measures adopted by the Biden administration, including steps to reduce the cost of gasoline and prescription drugs. $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$ $S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$
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The Neglect : Well that’s dumb, because we’re in a recession, and strong employment just exacerbates inflation and will prolong the time it will take to considering bring down the rates.
efficentupup OP The Neglect : make sense