Treasury Secretary Janet Yellen said Friday that the U.S. economy is achieving a “soft landing” as inflation continues to ease with no signs of a significant economic downturn.
“I think what we're seeing right now is a soft landing, and my hope is that it continues,” Yellen said. in an interview On CNN.
“The American people did it,” she added. “Americans go to work every day, participate in the labor market, and start new businesses. But President Biden is creating incentives to give Americans the tools they need to help grow this economy. ”
Yellen's comments came on the heels of the release of a surprisingly strong December jobs report.
The U.S. added 216,000 jobs in the final month of 2023, keeping the unemployment rate at 3.7%, far higher than economists expected.
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