US Treasury Secretary Yellen sees possible 'soft landing' for US economy

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.