Yellen Says U.S. Economy is in ‘Soft Landing’
Treasury Secretary Janet Yellen said Friday the U.S. economy is achieving a “soft landing” as inflation continues to ease without showing signs of a significant economic downturn.
Treasury Secretary Janet Yellen said Friday the U.S. economy is achieving a “soft landing” as inflation continues to ease without showing signs of a significant economic downturn.
“What we’re seeing now I think we can describe as a soft landing, and my hope is that it will continue,” Yellen said in an interview on CNN. Yellen’s comments came shortly after the release of a surprisingly strong December jobs report.
The U.S. added 216,000 jobs in the final month of 2023 and kept the jobless rate at 3.7%, far exceeding the expectations of economists.
Despite the latest positive jobs numbers, Biden is struggling to overcome Americans’ largely negative sentiments toward the economy as the 2024 presidential election looms at the end of the year.
Fed to Hold Interest Rates Steady But Start Considering Cuts
The U.S. Federal Reserve yesterday completed its two-day policy meeting and will likely hold interest rates steady for a fourth straight meeting but avoid signaling an imminent interest-rate cut.
Inflation Hotter Than Expected In December—But Core Inflation Falls To 2.5-Year Low
U.S. inflation moderated less than expected last month.
What to Know about Investing in Hydrogen
Hydrogen is an energy source that emits no greenhouse gases when burned.
