Yellen Lauds GDP Report as Evidence of ‘Resilient’ Economy
- Treasury boss says slowing growth needed to tame inflation
- She says US has fiscal space to respond in event of recession
Janet Yellen
Photographer: Sarah Silbiger/BloombergThis article is for subscribers only.
Treasury Secretary Janet Yellen said that while slower growth would help tame inflation, data released Thursday showed the US economy was resilient in the face of global challenges.
A government report outlining a 2.6% annualized pace for expansion in the third quarter “clearly shows solid growth in the US, Yellen told reporters in Cleveland, where she’s scheduled to deliver a speech on the Biden administration’s policies.