Treasury Secretary Janet Yellen said Sunday that she expects the U.S. economy to slow in the months ahead but that a recession is not inevitable. Yellen offered a dose of optimism even as economists grow increasingly worried about a recession fueled by skyrocketing inflation and the Russian invasion of Ukraine. She also expressed an openness, during an interview on ABC’s “This Week,” to a federal gas tax holiday to help give motorists some relief at the pump. “It’s been growing at a very rapid rate and the economy has recovered and we have achieved full employment. Yellen said it will take “skill and luck” to bring down inflation while maintaining low unemployment.

Source: Los Angeles Times June 20, 2022 02:53 UTC