U.S. Treasury Secretary Yellen and Bernanke project a "soft landing" for the economy, with lower inflation and a strong labor market.
U.S. Treasury Secretary Janet Yellen and former Fed Chair Ben Bernanke believe the economy is likely to avoid a recession, citing a "soft landing" where inflation is reduced while maintaining a strong labor market. Recent data shows a 3% annualized growth in Q2 and declining unemployment claims. Yellen emphasized the importance of reducing the federal deficit and noted that housing costs are expected to decrease, aiding inflation control.
September 26, 2024
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