U.S. Treasury Secretary Janet Yellen said on Monday that the U.S. economy remains strong and resilient and she sees a path for avoiding a recession.
According to her, you don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years.
Also, Yellen noted that the inflation in the U.S. remains too high but is coming down. She added that she is confident the U.S. will find a path in which inflation declines significantly and the economy remains strong.
In addition, Yellen repeated her call for the U.S. Congress to increase the debt limit, warning that not doing so would produce an economic and financial catastrophe.