Yellen downplays US recession risk

By Associated Press

Jul 26, 2022 12:06 am

WASHINGTON, D.C.: United States Treasury Secretary Janet Yellen said on Sunday (Monday in Manila) the US economy was slowing, but pointed to healthy hiring as proof it was not yet in a recession.

Her statement came just before a slew of economic reports will be released this week that will shed light on an economy currently besieged by rampant inflation and threatened by higher interest rates. The data will cover sales of new homes, consumer confidence, incomes, spending, inflation and overall output.

HEAR ME OUT This June 8, 2022 file photo shows Treasury Secretary Janet Yellen testifying before a United States House Ways and Means Committee hearing on Capitol Hill in Washington, D.C. AP PHOTO

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