US Treasury Secretary Janet Yellen expressed increased confidence that the US will be able to limit inflation without causing significant harm to the labor market, citing data showing a sustained reduction in inflation and a new flood of job seekers.
“I am feeling pretty comfortable about that forecast, and I think you’d have to say we’re on a path that looks exactly like that,” Yellen said when questioned about her prior predictions that the United States would escape recession.
The Treasury Secretary also downplayed any harm posed by China’s ambitions to strengthen the clout of the separate BRICS grouping of large rising economies.
“The G20 remains the preeminent venue for global collaboration,” Yellen said in an interview aboard her plane as she returned from the Group of 20 meeting in New Delhi.