Reported 8 months ago
Treasury Secretary Janet Yellen expressed confidence in the US economy, stating she sees no basis for a recession and anticipates reaching the Federal Reserve's 2% inflation target sooner than expected. Yellen attributed the expected decrease in inflation to stabilizing shelter costs, particularly in the housing market where rental prices are normalizing. She also announced measures to address high housing costs, including funding for affordable housing. Yellen criticized past tax cuts for contributing to the deficit and emphasized the importance of fiscal sustainability through deficit reduction measures.
Source: YAHOO