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U.S. recession is not inevitable,' but inflation is 'very high,' Treasury Secretary Yellen said

U.S. recession is not inevitable,' but inflation is 'very high,' Yellen said

June 21, 2022: -On Sunday, the recession many Americans fear is coming is not “at all imminent,” Treasury Secretary Janet Yellen said.

This year, the talk of a recession has started as inflation remains high and the Federal Reserve takes bold steps to counter it. On Wednesday, the Fed said a 75-basis particular interest rate hike, its biggest since 1994.

Fed Chair Jerome Powell told the Federal Open Market Committee’s plan to renew its aggressive path of monetary policy tightening to rein in inflation.

At the same time, many people expect the combination of resilience in consumer spending and job growth to keep the U.S. out of recession.

“I expect the economy to slow,” Yellen said in an interview with ABC’s “This Week.” “It’s been increasing as the economy and labor market have recovered, and we have reached full employment.

It’s natural that we expect a transition to steady and stable growth, but I don’t think a slump is inevitable.”

Although Yellen seemed happy about avoiding recession, the global economy is still facing extreme dangers in the future months with the continued war in Ukraine, zooming inflation, and the Covid-19 pandemic. “Inflation is unacceptably high,” Yellen said.

Still, she accomplishes a drop-off in consumer spending would cause a recession.

Yellen told ABC News that the U.S. delivery market was the most vital post-war period and indicated that inflation would delay “in

June 21, 2022: -On Sunday, the recession many Americans fear is coming is not “at all imminent,” Treasury Secretary Janet Yellen said.

This year, the talk of a recession has started as inflation remains high and the Federal Reserve takes bold steps to counter it. On Wednesday, the Fed said a 75-basis particular interest rate hike, its biggest since 1994.

Fed Chair Jerome Powell told the Federal Open Market Committee’s plan to renew its aggressive path of monetary policy tightening to rein in inflation.

At the same time, many people expect the combination of resilience in consumer spending and job growth to keep the U.S. out of recession.

“I expect the economy to slow,” Yellen said in an interview with ABC’s “This Week.” “It’s been increasing as the economy and labor market have recovered, and we have reached full employment.

It’s natural that we expect a transition to steady and stable growth, but I don’t think a slump is inevitable.”

Although Yellen seemed happy about avoiding recession, the global economy is still facing extreme dangers in the future months with the continued war in Ukraine, zooming inflation, and the Covid-19 pandemic. “Inflation is unacceptably high,” Yellen said.

Still, she accomplishes a drop-off in consumer spending would cause a recession.

Yellen told ABC News that the U.S. delivery market was the most vital post-war period and indicated that inflation would delay “in the months ahead.”

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