(ABM FN-Dow Jones) US Treasury Secretary Janet Yellen does not expect the US economy to slip into recession, given the strength of the labor market and cooling inflation. Yellen said in an interview with Bloomberg Television on Monday.
“I think we’re on a path to lower inflation,” Yellen said. “The most recent inflation numbers are very encouraging.” He added, “I think we’re on the right track in America.”
Last week it was reported that US consumer prices rose just 0.2 percent in June and inflation fell to the lowest level since 2021. Wholesale prices have fallen further and the producer price index has remained virtually unchanged over the past year.
Therefore, economists see the Federal Reserve as not having to “pull the brakes” to bring price pressures under control.
Addressing disappointing growth data from China, Yellen said Monday that slower growth there could have some “negative spillovers” for the United States.
Source: ABM Financial News
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Empire State Managers are clearly a little less confident!!
Then there will definitely be recession…!
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