US Treasury Secretary Janet Yellen: ‘No Recession With Half a Million Jobs’ – Bloomberg

U.S. Treasury Secretary Janet Yellen said on Monday that the U.S. economy was “strong and resilient” and that a recession was still on a avoidable trajectory.

“We envision a trajectory in which inflation is significantly lower and the economy remains strong,” Yellen said in an interview with ABC Television.

U.S. consumer price index (CPI) growth slowed to 6.5% in December after peaking at 9.1% in June. “It’s still too high,” Yellen said, adding that lowering it was a top priority for President Biden.

Yellen pointed to strong jobs numbers as evidence of economic momentum, saying, “When you have half a million jobs and the unemployment rate is at its lowest level in almost 50 years, you don’t have a recession.”

U.S. Employment Increases to 517,000, Largely Exceeding Expectations – Unemployment Rate Lowest in 53 Years (3)

news-rsf-original-reference paywall">Original title: Yellen Touts Employment Jump in Playing Down US Recession Danger (excerpt)

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