Treasury Secretary Janet Yellen stated that the U.S. economy is still performing well, and she remains optimistic that inflation will decrease to more typical levels. In an interview with Reuters, Yellen acknowledged that data released earlier in the day showed that the U.S. economy experienced its slowest growth in almost two years last quarter, but she attributed this to reasons that were unusual but not concerning.
Yellen also mentioned that she anticipates a decrease in housing inflation as the year progresses. She emphasized that the underlying factors support the idea that inflation will return to more normal levels in the near future. Despite the recent data, Yellen remains positive about the overall performance of the U.S. economy and believes that any fluctuations in inflation are temporary and will eventually stabilize.
It is clear that Yellen is confident in the economic outlook and focused on fundamental indicators, remaining reassured that the economy is on a solid path towards growth and stability. Her comments provide insight into her perspective on the current state of the U.S. economy and her expectations for its future trajectory.
In summary, Treasury Secretary Janet Yellen expressed confidence in the economic outlook and believes any fluctuations in inflation are temporary while acknowledging recent data showing slowest growth last quarter due to unusual reasons but not concerning factors such as high unemployment rate, consumer spending decline or business investment drop-off.