US Treasury Secretary Janet Yellen said on Monday that the United States is making good progress in reducing inflation, and that she does not expect the US economy to enter a recession.
Yellen said in an interview with Bloomberg from India, where she is attending the “Group of Twenty” meetings, that the slowdown in growth in China may extend to other economies, but the United States economy, the largest in the world, is achieving a “good track.”
Yellen’s comments come after the US Federal Reserve stopped raising the main interest rate in June for the first time since March 2022, after increasing it 10 times.
Inflation again recorded a strong slowdown in the United States, in June, at 3 percent at an annual rate, and this would have reached its lowest level since March 2021, but it is still above the 2 percent target set by the US Federal Reserve, according to figures published by the Ministry of Labor this week. the past.
In May, the US Department of Commerce reported that domestic economic output increased more than previously thought during the first quarter of this year.
The US economy has recovered somewhat this year, as a result of raising interest rates several times to deal with inflation, despite the Federal Reserve’s expectation that the country will enter a recession by the end of the year.
2023-07-17 18:04:44
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