US Treasury Secretary: Inflation is too high, the US economy is slowing down, but there are no signs of a recession

US Treasury Secretary Janet Yellen said the US economy is slowing down, while noting that there are no signs of a recession.

“The economy is slowing,” Yellen said in an interview with NBC that aired on Sunday. “Last year there was a rapid growth of about 5.5%, and we were able to return people who lost their jobs during the pandemic.” , The labor market is very strong right now .. It’s not ‘The economy is in recession, but now we are in a transition period where growth has slowed down. It is important”.

“But at the moment you don’t see any signs, a recession is a broad contraction that affects many sectors of the economy. It doesn’t exist,” she added.

However, Yellen noted that inflation is too high. “The Federal Reserve has been instructed to pursue a policy aimed at reducing inflation. I expect it to be successful,” she said.

Source: TASS