Treasury Secretary Janet Yellen says the Biden administration is still not ruling out the risk of a recession, even amid a strong labor market with historically low unemployment.
says the Biden administration is still not ruling out the risk of a recession, even amid a strong labor market with historically low unemployment.told CBS’ “Face the Nation” in an interview that aired Sunday. “But we would expect, with the job market as strong as it is now, to see a slower pace of ongoing job gains.”
The June jobs report released last week showed that the U.S. economy remained resilient despite persistent but cooling inflation, with 4.4% wage growth, a .1% unemployment decrease to 3.6% and 209,000 jobs added. Although the number of new jobs was below estimates, the strong labor force buoyed expectations of another interest rate hike from the Federal Reserve to further combat inflation.“Prime age labor force participation is at the highest level in several decades, so we’ve seen this strong job market attract workers back to it,” she said. “But as that stabilizes at a high level, we should expect the monthly job gains to be coming down toward a more normal level.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
US Treasury Secretary Janet Yellen commits ‘embarrassing’ bow during Beijing visit: ‘Never, ever, ever’US Treasury Secretary Janet Yellen bowed to her Chinese counterpart multiple times without reciprocation in Beijing Saturday — a protocol error that critics flagged as a sign of American weak…
Leer más »
Video Treasury Secretary Janet Yellen meets with officials in BeijingYellen tries to repair diplomatic relations while at the same time trying to protect American business interests. She also has called on China to help fight climate change.
Leer más »
Treasury Secretary Janet Yellen: Recession risk ‘not completely off the table’Treasury Secretary Janet Yellen says the Biden administration is still not ruling out the risk of a recession, even amid a strong labor market with historically low unemployment.
Leer más »
Treasury Secretary Janet Yellen says China trip 'has been successful' in forging relationshipsYellen believes her visit to Beijing created 'opportunity for a deeper set of more frequent contacts,' she said on 'Face the Nation' Sunday.
Leer más »
U.S. Treasury chief Janet Yellen pushes China over 'punitive actions' against American businessesU.S. Treasury Secretary Janet Yellen, in Beijing for meetings with top Chinese officials and American companies that do business in the country, said the U.S. welcomes healthy economic competition with China, but only if it's fair.
Leer más »