The head of the Ministry of Finance is confident that a recession will not overtake the United States
Treasury Secretary Janet Yellen believes actions taken by the Biden administration, such as lowering the cost of gasoline and prescription drugs, can help avoid a recession in the United States while leaving the economy strong. She noted that although inflation remains high, it has only been decreasing over the past 6 months.
To back up her point, Yellen points to the positive dynamics in the labor market: "There is no recession when the country is adding 500000 new jobs and the lowest unemployment rate in more than 50 years," she said. The head of the Ministry of Finance warned that failure to raise the debt ceiling could lead to “economic and financial disaster.”
Source: Telegram channel “ALL ABOUT THE USA”
