Economics
Yellen Says US Economy Is Not Seeing Recession Conditions Now
- US can fight inflation and keep strong labor market: Yellen
- Treasury secretary sees hope for inflation to start easing
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Treasury Secretary Janet Yellen gave a glass-half-full assessment of the US economy, acknowledging a slowdown that she called necessary to tame inflation while rejecting the notion the country had entered a recession.
“We do see a significant slowdown in growth,” Yellen said at a press conference on Thursday. But a true recession is a “broad-based weakening of the economy,” she said. “That is not what we’re seeing right now.”