Center recordHigh inflation and war in Ukraine is still raging onUnited State facing one of The most difficult economic problems. Just days after the US Federal Reserve raised interest rates, raising fears of Economic downturn Sunday, Treasury Secretary Janet Yellen said that the recession in The United States is not “inevitable”.
“I expect economy to slow down “as it transitions to stable growth,” she said on ABC “This Week” but “I don’t think a recession is ever inevitable.”
United State economy It has recovered solidly from the damage wrought by the COVID-19 pandemic, but rising inflation and supply chain difficulties have been exacerbated by the war in Ukraine increased pessimism.
Wall Street stocks fell after the US central bank bank on On Wednesday, the borrowing rate increased rate by 0.75% pointsthe most rise in Nearly 30 years old.
Economists see worrying signs of weak consumer confidence, with people I started to stick off on holiday planseating out or do home repairs.
Yellen admitted that “inflation is clearly unacceptably high,” attributing this in part to the war in Ukraine that paid up Energy and food prices. But she said she can’t believe this “back off in Consumer spending is likely cause of stagnation”.
Yellen argued that American labor market He is the strongest of Post-war period,” she predicted that pace of Inflation will slow down in the coming months. However, I acknowledged that as Chairman of the Federal Reserve, Jerome Powell is working to control inflation while preserving employment.market Strength, “It will take skill We wish you good luck.”
Escalating Gas Prices – At about $5 a gallon, nearly doubled in A few years – is a pressing concern for Many Americans. Asked for suggestions for temporary suspension in Federal gas taxes, Yellen expressed openness.
US President Joe Biden “wants to do whatever he can” help Consumers,” she said. This is definitely an idea worth look. “As for whether Biden will do it move To further reduce consumer prices by raising tariffs on Chinese goods, Yellen intercepted. She said the reformulation of tariffs under Donald Trump was “a matter under consideration.” “Me, no want moving forward of where is the policy the operation “.
