Janet Yellen Asserts Successful ‘Soft Landing’ For U.S. Economy

U.S. Treasury Secretary Janet Yellen asserts that the American economy has experienced a positive shift in the past six months, characterizing the current state as a “soft landing.”

According to Yellen, the measures taken by the Federal Reserve, including interest rate hikes, have successfully curbed inflation without triggering a recession. Supporting her perspective, Yellen highlights the continuous strength of the labor market, with 23 consecutive months of unemployment below 4%—a trend unseen in 50 years—and the addition of 216,000 jobs in December. In an X post, Yellen credits the collaborative efforts of the American people, workers, and businesses, coupled with the President’s economic agenda, including significant investments in infrastructure, clean technology, and semiconductors, for steering the economy towards stability.

While acknowledging the substantial decline in inflation, Yellen acknowledges the need for further efforts to address persistent challenges in housing and food prices. Despite these issues, she notes a growing optimism among Americans about their future, aligning with her previous statements that, although recession risks persist, the overall outlook for the economy is gradually improving.

Clever Robot News Desk 9^th January 2024