Federal Reserve Chair Jerome Powell and US Treasury Secretary Yellen provided positive outlooks on the US economy. Powell expects inflation to decrease, economy to grow, and labor market to remain strong, leading to considerable interest rate reductions. Both officials highlighted strong economic performance compared to other advanced economies.
YELLEN: U.S. ECONOMY PERFORMING BETTER THAN ANY OTHER ECONOMY AROUND THE WORLD POWERING GLOBAL ECONOMY AS WELL -MSNBC
π΄ US TREASURY SECRETARY YELLEN: THE US ECONOMY PERFORMING BETTER THAN ANY OTHER ECONOMY AROUND THE WORLD, POWERING THE LOBAL ECONOMY AS WELL - MSNBC.
U.S. TREASURY'S YELLEN: NO EVIDENCE OF INFLATIONARY PRESSURE COMING FROM THE LABOR MARKET -MSNBC
β YELLEN: WE'RE SEEING VERY STRONG JOBS GROWTH -MSNBC INTERVIEW
U.S. TREASURY YELLEN: WE'RE SEEING VERY STRONG JOBS GROWTH -MSNBC INTERVIEW
π΄ US TREASURY SECRETARY YELLEN: WE'RE SEEING VERY STRONG JOBS GROWTH.
Federal Reserve Chair Jerome Powell offers sunny outlook for the U.S. economy, saying "weβre doing the best of anybody" https://t.co/5Q18f4MyIq https://t.co/EGqLzJtzsi
Fedβs Powell calls U.S. economic growth healthy, sustainable, solid and strong https://t.co/xQk3HmVlwu
"We've got the strongest growth and the lowest inflation of the advanced economies," Fed Chair Powell said during his testimony to the Senate Banking Committee today. https://t.co/nyusDZGe1s
β POWELL: US ECONOMY DOING BEST OF ADVANCED ECONOMIES
Powell: Economy is growing at a good sustained pace. The labor market remains strong. Inflation has come down. We are at a healthy place.
Powell told Congress that he "expects #inflation to come down, the economy to keep growing, and the labor market to stay strong." As a result he expects "interest rates to come down considerably." Why? Ultra low rates were intended to be emergency measures for Covid and the GFC.