Yellen: There are no signs that the US economy is entering a period of decline

US Treasury Secretary Janet Yellen said she sees no signs that the US economy is entering a period of decline.

Yellen also warned that Congress’ failure to pass legislation to keep the government running could risk slowing the economy’s momentum.

Speaking to CNBC yesterday, Yellen said, “I don’t see any signs that the economy is at risk of declining,” noting that the U.S. labor market remains strong and inflation is declining. ,

Yellen warned that Congress’s failure to pass laws to keep the government afloat risked slowing the economy’s momentum.

YELLEN STRIKE COMMENT

Yellen also spoke about the strike launched by the United Automobile Workers against three American automakers in Detroit, one of the most ambitious labor actions in the US in recent years.

Yellen said it was too early to gauge the impact of the strike on the economy, saying it depends on how long it will last and who will be affected.

Expressing President Joe Biden’s view on ensuring workers also benefit, Yellen said the labor market remains strong, but not as hot as before, which is important considering the goal of reducing inflation to 2 percent.