Yellen Says Inflation Is Top Challenge as US Labor Market Cools
Summary
- Former Treasury Secretary Janet Yellen said the US labor market is no longer so overheated that it is fueling inflation.
- Yellen said she was surprised that the Middle East conflict and higher oil prices had a more limited impact on the US economy than expected.
- Yellen said the biggest challenge for the US economy is bringing down inflation without triggering a recession.
Forecast Trend Report by Period
Former Treasury Secretary Janet Yellen said the US labor market is no longer so overheated that it is fueling inflation, Walter Bloomberg reported on August 5.
Yellen also said she was surprised that the Middle East conflict and higher oil prices had a more limited impact on the US economy than expected.
She said the biggest challenge for the US economy is to bring down inflation without causing a recession.
reporter1@bloomingbit.ioHello, I'm a reporter at bloomingbit