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Economics

Yellen Says No Strong Labor Market in Long Run If Inflation High

  • Treasury secretary still sees path to soft landing for economy
  • Biden administration and Fed’s interests are aligned, she says
Bloomberg business news
US Inflation to Guide Fed’s Next Hike

Treasury Secretary Janet Yellen said she remains hopeful the US economy can avoid recession, but added that Americans understand the need for the Federal Reserve to conquer inflation.

“The Fed is going to need great skill and also some good luck to achieve what we sometimes call a soft landing,” Yellen said Sunday in an interview on CNN’s “State of the Union.”