-
ALSO READ
US economy has never worked fairly for Black Americans: Janet Yellen
US is the 'bestplace' to hide, launder illicit funds, says Janet Yellen
Yellen to see Ukrainian PM Shmyhal, avoid Russians at global meetings
Yellen says China should urge Russia to end its Ukraine war
Biden pandemic relief law like 'vaccine' for economy, says Janet Yellen
-
US Treasury Secretary Janet Yellen said she expects solid growth in the coming year, with a possible “soft landing” for the economy as the Federal Reserve moves to bring down inflation.
“The Fed will need to be skillful and also lucky, but I believe it’s a combination that is possible,” Yellen said.
A number of economists have predicted a recession in 2023 as the Fed ramps up interest rates — including with a half-percentage-point hike anticipated later Wednesday.
But Yellen said that “a soft landing is possible.” The Treasury chief said that while consumer prices have surged, medium-term expectations for inflation haven’t been so affected.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU