U.S. Treasury Secretary Janet Yellen said she saw a path for avoiding a U.S. recession, with inflation coming down significantly and the economy remaining strong, given the strength of the U.S. labor market.
WASHINGTON -U.S. Treasury Secretary Janet Yellen on Monday said she saw a path for avoiding a U.S. recession, with inflation coming down significantly and the economy remaining strong, given the strength of the U.S. labor market.
Yellen said inflation remained too high, but it had been falling for the past six months and could decline significantly given measures adopted by the Biden administration, including steps to reduce the cost of gasoline and prescription drugs. Yellen told ABC that reducing inflation remained Biden's top priority, but the U.S. economy was proving "strong and resilient."
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