US Treasury Secretary, gives an upbeat economic forecast for...| MENAFN.COM

Saturday, 28 May 2022 07:35 GMT

US Treasury Secretary, gives an upbeat economic forecast for 2022


(MENAFN) Janet Yellen, the US Treasury Secretary, gave an upbeat economic forecast, highlighting decreasing inflation and the possibility for a long-term improved expansion.

While admitting that price increases are "a valid policy concern," Ms. Yellen noted on Friday that “it’s important to note that professional forecasters think that inflation will substantially abate next year". She made the statements during a video to the World Economic Forum's Virtual Davos Agenda.

She also described the US labor market as "exceptionally strong," titled predictions of 3.3 percent expansion this year as a “stunning economic and policy achievement".

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