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(Morning Post) US Minister of Finance Yellen believes that the economic recession in the United States is not inevitable.
Agence France -Presse reported that Yellen Sunday (June 19) said in an interview with US media: "I expect the economy to slow down."She said that the US economy is currently transitioning to a stable growth period, but she does not think that "recession is completely inevitable."
The US economy has recovered strongly from the damage caused by crown diseases, but the soaring inflation rate and the disturbance of the supply chain in the Ukrainian war make people feel more pessimistic about the future.
In order to cope with the U.S. inflation rate rising to a 40 -year high, the Federal Reserve announced on Wednesday (June 15) that 75 basis points were raised to inhibit the trend of high inflation, which caused people to have a shrinkage of economic shrinkage.Worry.
Economists also see signs of worrying, that is, consumer confidence is weakening, and people start to postpone vacation plans, reduce meals or perform house maintenance.
Yellen admits that the inflation rate is obviously unacceptable, partly because the Ukrainian war has pushed up energy and food prices, but it is not believed that "decrease in consumption expenditure will lead to economic recession.
Yellen believes that the labor market in the United States "can be said to be the strongest after the war."She predicts that the speed of inflation will slow down in the next few months.
