Nothing to suggest a recession in the US, says Treasury Secretary Janet Yellen
US would be very unhappy if China helped Russia to get around their sanctions
US would be very unhappy if China helped Russia to get around their sanctions
US would be very unhappy if China helped Russia to get around their sanctions
US would be very unhappy if China helped Russia to get around their sanctions
US Treasury Secretary Janet L. Yellen said that she did not anticipate a recession in the US. Janet added that she expected the growth rate to be slow in the country.
The New York Times quoted her saying at the Times’s DealBook D.C. policy forum that there is nothing to suggest a recession is in the works. Janet added that she expected economic growth in the United States to be slower than the rapid clip of last year’s rebound. Janet said that she did see a path to curbing demand without causing a deep contraction, the publication quoted the treasury secretary saying.
“We want to transition to stable, strong growth,” she said. Janet mentioned that she expected the United States economy to slow as the Federal Reserve raised interest rates to tame inflation.
The Reuters reported Janet saying that gasoline prices were unlikely to fall anytime soon. Though she admitted that the prices began to increase even before the Russia-Ukraine war, the price rise was rebound from low levels during the pandemic. She added that she would not recommend people saving for retirement invest in cryptocurrencies as it is a very risky investment.
Yellen said that the US would be very unhappy if they saw China actively trying to help Russia to get around US sanctions; not seeing significant evidence of that, she said.