https://sputnikglobe.com/20230710/treasury-secretary-yellen-says-cannot-rule-out-recession-in-us-1111779244.html
Treasury Secretary Yellen Says Cannot Rule Out Recession in US
Treasury Secretary Yellen Says Cannot Rule Out Recession in US
Sputnik International
The possibility of a recession in the US cannot be ruled out, Yellen said. She added that the slower growth of the US economy was "appropriate and normal."
2023-07-10T00:02+0000
2023-07-10T00:02+0000
2023-07-10T00:02+0000
economy
janet yellen
janet yellen
federal reserve
federal reserve
economy
us economy
recession
economic recession
us treasury
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"It's not completely off the table. But we would expect, with the job market as strong as it is now, to see a slower pace of ongoing job gains," Yellen told the CBS broadcaster on Sunday. Yellen added that the slower growth of the US economy was "appropriate and normal." In late June, Federal Reserve Chair Jerome Powell said that a recession in the US is not certain but still possible as the Federal Reserve's target of returning inflation to 2% per year via interest rate hikes might not be achieved until 2025.
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us treasury secretary janet yellen, federal reserve chair jerome powell, janet yellen, inflation, us inflation, recession, recession in the us, economy, us economy
us treasury secretary janet yellen, federal reserve chair jerome powell, janet yellen, inflation, us inflation, recession, recession in the us, economy, us economy
Treasury Secretary Yellen Says Cannot Rule Out Recession in US
MOSCOW (Sputnik) - The possibility of a recession in the United States cannot be completely ruled out as inflation remains high, US Treasury Secretary Janet Yellen said.
"It's not completely off the table. But we would expect, with the job market as strong as it is now, to see a slower pace of ongoing job gains," Yellen told the CBS broadcaster on Sunday.
Yellen added that the slower growth of the US economy was "appropriate and normal."
"We have a healthy economy, a great labor market, inflation too high, and a concern of ours and the American people, but coming down over time, and it's my hope that, and belief, that there is a path to bring inflation down," Yellen said.
In late June, Federal Reserve Chair Jerome Powell said that a recession in the US is not certain but still possible as the Federal Reserve's target of returning inflation to 2% per year via interest rate hikes might not be achieved until 2025.
