Janet Yellen, the United States Treasury Secretary, recently made headlines by stating that a recession is not ‘inevitable’ despite ‘unacceptably high’ inflation rates. In a speech delivered at the London School of Economics, Yellen addressed concerns about the current state of the economy and offered her insights on the path forward.
Yellen’s remarks come at a time when the global economy is facing significant challenges, including rising inflation, supply chain disruptions, and uncertainty surrounding the ongoing pandemic. Inflation in the United States reached a 30-year high in October, prompting concerns about the potential for a recession in the near future. However, Yellen remains optimistic about the outlook for the economy, emphasizing that policymakers have the tools to address these challenges and prevent a downturn.
Yellen noted that while inflation is currently at ‘unacceptably high’ levels, she believes that it is a temporary phenomenon driven by supply chain bottlenecks and other transitory factors. She emphasized that the Federal Reserve and other central banks are closely monitoring the situation and are prepared to take action if necessary to stabilize prices and support economic growth.
Yellen also highlighted the importance of addressing underlying structural issues in the economy, such as income inequality and climate change, in order to ensure a more sustainable and inclusive recovery. She stressed the need for targeted government policies to address these challenges and promote long-term economic resilience.
Overall, Yellen’s comments offer a sense of reassurance to investors and policymakers who may be concerned about the possibility of a recession in the near future. While inflation remains a key issue that needs to be addressed, Yellen’s message is clear: with the right policies and measures in place, a recession can be avoided, and the economy can continue to grow and thrive.
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I believe I should watch a video on "How to survive the current recession" given the state of things. Actually, it's a complete failure. The fact that some people could still earn more than $$$k in a short period of time astounded me. If that's still the case, please explain how.
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Lol. This LYING wrench WAS INVOLVED in the 2008 CRASH. Do your own research.
We’re in a recession now.
Recession is already here!!! Definition of recession is 2 quarterly drop in GDP and we had 3rd drop in GDP now. Yellen, Powell and Gina must be fired. They were worst bunch of pack destroying the US economy. Inflation is high due to reliance on Chinese supply chains by all major US companies. But Yellen targeted S Korea with IRA which lost $60 billion investments from S Korea in battery and chips losing 35,000 high paying jobs which also supports other small business and suppliers in the US.
For those of you who can't see the dislikes, it's 2.5k
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