‘I don’t expect a recession’ in the U.S.: Treasury Secretary Janet Yellen
— Treasury Secretary Janet Yellen Treasury Secretary Janet Yellen on Monday sounded an optimistic note on the prospect of avoiding a recession, citing the strength of the U.S. labor market and “encouraging” inflation data.
“I don’t expect a recession,” the treasury chief said in a Bloomberg Television interview, speaking from India on the sidelines of a Group of 20 finance officials’ meeting. “I think that we’re on a good path to bringing inflation down,” said Yellen. “The most recent inflation data were quite encouraging.” She added, “I think we’re on a good path in the United States.”Last week, government data showed that U.S. consumer prices rose just 0.2% in June, and the rate of inflation slowed to the lowest level since 2021. Wholesale prices have dropped even further, with the producer-price index essentially flat over the past year.
Fears of a U.S. recession eased after the release of the June consumer-price data. Economists saw a greater chance the Federal Reserve might not have to “slam on the brakes” to get price pressure under control.Yellen spoke after weaker-than-expected data from China, and noted that slow growth there can have some “negative spillovers” for the U.S.
U.S. stocks DJIA, +0.17% SPX, +0.16% COMP, +0.43% were making modest gains Monday after the news on China’s economy damped risk appetite across global markets.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
US Treasury Secretary Yellen: ‘Eager’ to work with China on areas of mutual interestUS Treasury Secretary Yellen: ‘Eager’ to work with China on areas of mutual interest – by anilpanchal7 UnitedStates China RiskAversion NewsTrading
Weiterlesen »
Yellen Says Funding Ukraine's War Effort Is the Best Boost for Global EconomyRedoubling financial backing for Ukraine in its war with Russia is the “single best” way to aid the global economy, U.S. Treasury Secretary Janet Yellen said Sunday.
Weiterlesen »
Yellen does not see recession in U.S. - Bloomberg interviewU.S. Treasury Secretary Janet Yellen said on Monday the United States was making good progress in bringing inflation down and she did not expect the U.S. economy to enter into a recession.
Weiterlesen »
Yellen 'eager' to work with China on debt, other global challengesU.S. Treasury Secretary Janet Yellen said on Sunday she was 'eager' to work with China on areas of mutual interest, including debt restructurings for poorer countries, and that multilateral development banks needed reforms before capital increases could be considered.
Weiterlesen »
US working with India on platform to speed its energy transition - YellenThe United States is working with India to develop an investment platform to lower the cost of capital and increase private investment to fast-track India's energy transition, U.S. Treasury Secretary Janet Yellen said on Monday.
Weiterlesen »
Yellen visits India again to promote closer ties and tackle global economic problemsShe also plans a stop in Vietnam.
Weiterlesen »