Home Economy US Treasury chief expects economic slowdown, but recession does not look imminent

US Treasury chief expects economic slowdown, but recession does not look imminent

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The US economy, as well as the labor market, have recovered, the US has reached full employment, Treasury Secretary Janet Yellen said. According to her, the transition to sustainable and stable growth is now expected and a recession does not look inevitable. Ms. Yellen expects the economy to slow down. “I expect the economy to slow down,” the minister said in an interview with ABC’s This Week. “The economy, like the labor market, has recovered and we have reached full employment. Now it is natural that we expect a transition to sustainable and stable growth, and I do not think that a recession is imminent at all.” At the same time, Janet Yellen noted that inflation is unacceptably high. According to Ms. Yellen, reducing it is one of the main tasks of US President Joe Biden. In March, annual inflation in the US reached a record 40-year 7.9%. In May, inflation accelerated to its highest since December 1981, from 8.3% to 8.6%. Mr. Biden linked the rise in prices with sanctions against Russia. The President urged Congress to pass a bill to reduce … .

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