“I continue to believe there is a way to reduce inflation while maintaining a healthy labor market,” said US Treasury Secretary Janet Yellen.
US Treasury Secretary Janet Yellen, in her speech at the solar energy company PosiGen, headquartered in New Orleans, said that their goal is to fight inflation while preserving the economic gains of the last 2.5 years.
“But our economy has proven to be more resilient than many think. I continue to believe that there is a way to lower inflation while maintaining a healthy labor market,” Yellen said, pointing to the fact that for a year they had heard the forecasts for an impending US recession.
Yellen emphasized that they do not underestimate the important risks in the future, but that the evidence seen so far shows that they are on this path, and noted that this confidence is also repeated by company executives who are increasingly expressing their faith in the country’s economy.
Pointing out that households are spending at a strong pace and businesses continue to invest even though the US economy has slowing parts, Yellen said that even as the economy cools as inflation falls, she expects the current strength of the labor market and solid balance sheets to serve as a source of economic strength.