“I do think there’s a path to bring down inflation while maintaining what I think all of us would regard is a strong labor market,” Yellen said. Yellen said she is seeing some easing of stress in the labor market, including increases in unemployment claims, declines in job openings, and upticks in labor force participation. The labor market gaining more slack will help bring inflation down, but it doesn’t mean there needs to be a significant jump in unemployment, she said. “I think the strong labor market and bringing down inflation are compatible goals,” she said. “Americans should note that America has a safe, strong banking system,” she said.

Source: CNN April 15, 2023 22:49 UTC