Janet Yellen also expressed an openness to a federal gas tax holiday to help give motorists some relief at the pump.
Stocks have declined almost 35% on average when a bear market coincides with a recession, experts say.
Yellen said overall consumer spending in the United States remains strong, while noting that spending patterns are changing, given the impact of rising food and energy prices. Yellen said household savings during the coronavirus pandemic will help sustain spending. The national saving rate has fallen to about 6%, below pre-pandemic levels, after reaching 16.6% in 2020, the highest on record dating to 1948, and 12.7% in 2021.
"I expect the economy to slow," Yellen said."It's been growing at a very rapid rate and the economy has recovered and we have achieved full employment. We expect a transition to steady and stable growth, but I don't think a recession is at all inevitable." Yellen echoed Biden's optimism in the face of economic headwinds. Biden in an interview with The Associated Press last week insisted that a recession is"not inevitable" and made the case that U.S. is"in a stronger position than any nation in the world to overcome this inflation."
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Recession 'not inevitable,' Treasury Secretary says: What to know as stocks plunge, inflation risesTreasury Secretary Janet Yellen says she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable.
続きを読む »
U.S. Recession Isn't ‘Inevitable,' But Inflation Is ‘Unacceptably High,' Treasury Secretary Yellen SaysTalk of a recession has accelerated this year as inflation remains high and the Federal Reserve takes aggressive steps to counter.
続きを読む »
Yellen: Recession not inevitable, gas tax holiday weighedYellen offered a dose of optimism even as economists grow increasingly worried about a recession fueled by skyrocketing inflation and the Russian invasion of Ukraine.
続きを読む »
Yellen: Recession not inevitable, gas tax holiday weighedTreasury Secretary Janet Yellen says she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable.
続きを読む »
US Treasury Secretary Janet Yellen says recession is not inevitableShe also discussed Sunday an openness to lowering the federal gas tax to give drivers some relief at the pump.
続きを読む »
Biden officials downplay recession risk — despite experts’ warningsTreasury Secretary Janet Yellen claimed on ABC that a recession is not inevitable, though she foresees the US economy slowing down in the months ahead.
続きを読む »