US Treasury Secretary: Inflation to decline in 2023 | MENAFN.COM

Wednesday, 18 May 2022 03:51 GMT

US Treasury Secretary: Inflation to decline in 2023


(MENAFN) Janet Yellen, US Treasury Secretary, laid out an optimistic outlook for the country’s economy, with dying inflation and the probability for greater development on the long run.

On Friday, Ms Yellen said “it’s important to note that professional forecasters think that inflation will substantially abate next year,” while mentioning that rising costs show “a valid policy concern.”

She issued her insights in a talk broadcasted through video to the World Economic Forum’s Virtual Davos Agenda.

Ms Yellen further described the American employment market as “exceptionally strong” and said that the estimates for 3.3 percent development in the current year a “stunning economic and policy achievement".

The treasury secretary’s insights oppose the people’s sentiment in the nation that economic industries are not on the right track, amongst concerns that growing inflation will pursue with eroding the society’s buying motivations.

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