“Every measure of inflation is on the road down,” Yellen told Bloomberg in an interview.
“I am feeling very good about that prediction,” she also said when asked whether the U.S. would avoid a recession while containing inflation.
“I think you’d have to say we’re on a path that looks exactly like that.”
Yellen said the trends of some indicators in the labor market, including the jobless rate rising to 3.8 percent and labor force participation rate rising 0.2 percentage points, is “important and a good thing.”
Yellen gave the interview while heading back from attending the Group of 20 summit in New Delhi. She attended the meeting alongside President Biden.
While Yellen acknowledged in a previous interview that many countries depend on China’s economic growth “to promote growth in their own economies,” she also said she still doesn’t expect a recession in the U.S.
“[U.S. economic] growth has slowed, but our labor market continues to be quite strong — I don’t expect a recession,” Yellen said.
The Hill’s Lauren Sforza has more here.
