Yellen sees lower US recession risk, says consumer slowdown needed

Treasury secretary Janet Yellen. (Image: Bloomberg)

Mon, 26 Jun 2023

By Viktoria DendrinouTreasury secretary Janet Yellen sees diminishing risk for the US to fall into recession, and suggested that a slowdown in consumer spending may be the price to pay for finishing the campaign to contain inflation.On the chance of a recession, Yellen said “my odds of it, if anything, have gone down – because look at the resilience of the labour market, and inflation is coming down”. She spoke in an interview with Bloomberg News on Thursday.“I’m not going to say it’s not a risk, because the...

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