Yellen “Unemployment rate, lowest in 50 years… No recession”

input2023.02.06 23:49
correction2023.02.06 23:50

US Treasury Secretary Janet Yellen dismissed the possibility of a recession as “unlikely.”

According to a Yonhap News report on the 6th, Secretary Yellen emphasized in an interview with ABC Broadcasting, “More than 500,000 new jobs have been created. The unemployment rate is at its lowest level in 50 years. A recession cannot happen in this situation.”

Regarding the inflation situation, he said, “Currently, inflation has slowed significantly. The US economy remains strong and is developing in a good direction.”

“Many Americans are worried about inflation, but the top priority of the Biden administration is to slow inflation, so he is responding properly. It is true that prices are still high, but they have recorded a downward trend in the last six months. The Fed is responding well.” he added.

Bloomingbit Reporter Youngmin Lee

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