US Treasury Secretary Janet Yellen stated that the pace of inflation would decrease in the coming months.
US Treasury Secretary Janet Yellen gave optimistic messages about inflation. Yellen told ABC that inflation in the US is unacceptably high, partly due to the Russia-Ukraine war. She emphasized that inflation in the USA is affected not by local but by global developments. Yellen stated that the rate of inflation would decrease in the coming months.
She noted that consumer spending and economic activity remain strong and that a recession in the country is not inevitable.
Inflation, which is at the highest level in 40 years, and the aggressive tightening cycle initiated by the Fed to combat inflation increase recession concerns in the country. US President Joe Biden has said that a recession is not inevitable. Recession concerns in the US began to rise after the Fed’s biggest rate hike in 28 years.
