U.S. Treasury Secretary Janet Yellen announces recession risk reduction in the country
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U.S. Treasury Secretary Janet Yellen said that, in her assessment, the likelihood of a recession in the country, «if anything, has decreased», for this she suggested «look at the stability of the labor market.» Inflation, in her opinion, is declining. Janet Yellen made this statement during her interview with Bloomberg TV.
At the same time, the head of the US Treasury added that “all this does not mean” that the risk has completely disappeared, and pointed to an increase in the interest rate by the US Federal Reserve.
In order to bring inflation under control, «we probably need to see some slowdown in spending,» Yellen said.
According to TASS, according to Bank of America, the States will to deal with a moderate recession in the third and fourth quarters of 2023, as well as in the first quarter of next year.