Treasury Secretary Janet Yellen rejected recession fears in an interview with GMA, saying the economy remains 'strong and resilient.'
A blockbuster jobs report last week showed that the economy"You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years," Yellen said.
poll released on Sunday. The figure marks the highest share of discontented respondents since the outlets began conducting the poll 37 years ago. "With the COVID pandemic and all the stress that placed on the economy, and then Russia's war in Ukraine that boosted food and energy prices, Americans are concerned about inflation and it's been President Biden's top priority to bring it down," she added.6.5% over the yearlong period ending in December, which amounts to a significant slowdown from a summer peak but remains more than triple the Federal Reserve's target of 2%.
Janet Yellen, US Treasury secretary, speaks during a Financial Stability Oversight Council meeting at the Treasury Department in Washington, DC, Dec. 16, 2022.Legislation enacted during the Biden administration, such as the $369 billion, has helped the central bank's effort to slow price increases, Yellen said.
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