US Treasury Secretary Yellen: Our economy has proven more resilient than previously thought

In a speech at the New Orleans-based solar energy company PosiGen, US Treasury Secretary Yellen said her goal is to fight inflation and preserve the economic gains of the last two and a half years.

Noting that for a year they have been listening to predictions of an impending US recession, Yellen said: “However, our economy has proven more resilient than many thought. I still believe there is a way to reduce inflation while maintaining a healthy job market.” she used the phrase.

Yellen emphasized that they do not underestimate the significant risks in the future, but the evidence seen so far shows that they are on that path, noting that this confidence is also repeated by the executives of the companies that increasingly express their faith in the country’s economy. .

Noting that households are spending at a strong clip and businesses continue to invest despite the US economy having bits of a slowdown, Yellen said she hopes the current strength of the labor market and solid balance sheets will serve as a source of economic strength, even if the economy cools as inflation declines. (AA)