“I expect the economy to slow down,” Yellen said in an interview with ABC’s “This Week.” “It has grown at a very rapid pace, as the economy, like the labor market, has recovered and we have reached full employment. It is natural to expect a transition to steady and stable growth now, but I don’t think a recession is entirely inevitable.
While Yellen seemed optimistic that a recession could be averted, the global economy still faces serious threats in the coming months with the ongoing war in Ukraine, rising inflation and the coronavirus pandemic. “Clearly, inflation is unacceptably high,” Yellen said.
However, he does not believe that a decline in consumer spending is the cause of a recession. Yellen told ABC News that the US job market has been the strongest since the war and she expects inflation to slow “in the coming months.”.
I remember for those who would not have followed that a few days ago Janet Yellen herself apologized for having underestimated the risks of inflation.
It does exactly the same with recession risks.
Yellen knows as well as I do that with inflation at 10% and rapid rate hikes, not to mention the massive increase in energy prices, the economy will fall into recession.
So why does he say the recession “might be somehow avoidable”?
Because the political leaders are there to ensure the stability of the system, not to tell you the truth.
Being little read and listened to, I can tell you the truth without sinking the country.
If Bruno the Mayor said at 8 pm on TF1 with his legitimacy as a minister what I am telling you here, there would be panic.
Being a politician means lying and looking foolish.
Don’t be fooled by their work.
The world works like this.
Janet Yellen will apologize next year for not seeing such a big recession coming!
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Source Reuters via Investing.com here
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