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FameEX Hot Topics | U.S. Treasury Secretary Janet Yellen Announces 'Soft Landing' Achieved, Americans Regaining Confidence

2024-01-08 16:37:10

Janet Yellen, U.S. Treasury Secretary and former Chair of the Federal Reserve, has recently expressed optimism about the progress of the American economy. She believes that the economy has achieved what is known as a 'soft landing,' a situation where measures taken by the Federal Reserve, like interest rate hikes, successfully slow down inflation without leading to a recession. Yellen's positive view is based on the latest indicators from the American economy.

Over the past six months, Yellen has observed significant improvements in the U.S. economy. She attributes this to the effective management of monetary policy by the Federal Reserve, which has led to what she describes as a soft landing. Her optimism is backed by recent data on the labor market and inflation, both of which suggest a stable economic path ahead.

Yellen highlighted the strength of the labor market, noting that the unemployment rate has remained below 4% for 23 consecutive months, a phenomenon not observed in the past 50 years. Furthermore, the U.S. economy saw an addition of 216,000 jobs in December, evidencing the continued strength of the job market.

In a post on a social media platform, Yellen praised the efforts of American workers and businesses in achieving this soft landing. She credited the President's economic policies, which include major investments in areas like infrastructure, clean technology, and semiconductors, for providing the necessary tools for economic growth.

However, Yellen also acknowledged the challenges that remain, particularly in the areas of housing and food prices, which continue to contribute to high inflation. Despite these ongoing issues, she pointed out that recent polls show an increase in optimism among Americans regarding their economic future.

Yellen's current viewpoint is in line with her comments from December, where she minimized the risk of a recession. At that time, she did not believe the risk of a recession was particularly high and expected that people's feelings about the economy would gradually improve over time.

In summary, Janet Yellen's recent comments reflect her confidence in the American economy's ability to navigate through the challenges of inflation and growth. Her belief in the economy's achievement of a soft landing is supported by several indicators, including the strength of the labor market, the effectiveness of monetary policy, and the role of government investments. Despite some ongoing challenges, the overall outlook for the U.S. economy appears positive, with increasing optimism among the public.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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