U.S. Treasury’s Yellen says Fed can bring down inflation without causing recession -Breaking
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© Reuters. U.S. Treasury Secret Janet Yellen speaks during a U.S. House Committee on Financial Services Hearing on the Annual Report Of the Financial Stability Oversight Council, on Capitol Hill, Washington, DC, U.S. May 12, 2020. Graeme Jennings/Pool viaWASHINGTON, (Reuters) – U.S. Treasury secretary Janet Yellen stated that the Federal Reserve could bring down inflation while not causing a recession due to a strong U.S. labor market and strong household balances. Also low interest costs and a strong banking industry.
Yellen said Thursday at a hearing of the U.S. House Financial Services Committee that, “all of that suggests that Fed has a path that can bring down inflation without causing a depression. And I know that their goal will be to achieve that.”
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