Yellen Says Inflation Is Top Challenge as Labor Market Cools
JH Kim
Summary
- Former US Treasury Secretary Janet Yellen said the US labor market is no longer overheated enough to fuel inflation.
- Yellen said she was surprised that the Middle East conflict and higher oil prices had a more limited impact on the US economy than expected.
- Yellen said the biggest challenge for the US economy is to lower inflation without causing a recession.
Forecast Trend Report by Period
Former US Treasury Secretary and Federal Reserve Chair Janet Yellen said the US labor market is no longer so overheated that it is fueling inflation, Walter Bloomberg reported on August 5.
Yellen also said she was surprised that the Middle East conflict and rising oil prices had a more limited impact on the US economy than expected.
She added that the biggest challenge for the US economy is bringing down inflation without causing a recession.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.