Treasury Secretary Janet Yellen expressed optimism that inflation will decrease to more typical levels, despite recent data showing the U.S. economy experienced its slowest growth in almost two years last quarter. In an interview with Reuters, Yellen acknowledged the data but attributed it to unusual but not concerning reasons.
Yellen also mentioned her anticipation of 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 any fluctuations in inflation, Yellen remains positive about the overall performance of the U.S. economy and believes it is on a solid path towards growth and stability.
Yellen’s comments provide insight into her perspective on the current state of the U.S. economy and her expectations for its future trajectory, indicating confidence in fundamental indicators and reassurance that the economy is performing well.