Yellen confident that the US can control inflation
US Treasury Secretary Janet Yellen said she has increased confidence in the country’s ability to control inflation without causing significant damage to the labor market.
Yellen said she welcomed data showing a steady slowdown in inflation and an increase in new job seekers.
In her speech yesterday, Yellen was asked if she still had hope that the United States would avoid a recession while controlling consumer inflation. Yellen responded: “I feel very good about this forecast.”
YELLEN IS SATISFIED WITH THE DATA
In an interview on the plane while returning from the G20 summit in New Delhi, India’s capital, the Treasury Minister said: “All the data on inflation is coming down.”
Yellen recalled that the unemployment rate in the US increased in August after reaching the lowest levels in the last 50 years earlier this year, and affirmed that this jump was not due to a large wave of layoffs.
Yellen recently downplayed the potential risks of China’s efforts to increase the influence of the BRICS group, saying: “The G-20 remains the primary forum for global cooperation.”
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
