2024-01-05 17:15:00
US Treasury Secretary Yellen said on the 5th that the US economy has achieved a soft landing. Historically, it is unusual for high inflation to be brought under control without causing a significant blow to the labor market.
“I think what we’re seeing right now might be described as a soft landing, and I hope that continues,” Yellen said in an interview with CNN.
Last December’s US employment statistics showed that the growth in the number of employees was accelerating, and the rate of increase in wages exceeded market expectations. Speculation that the time for a US interest rate cut is imminent has receded.
U.S. employment growth accelerates, wages rise more than expected – Labor market remains strong (4)
“Wage growth is now outpacing inflation,” he said. “American workers are making progress, and the progress for middle-income households is very noticeable,” he said.
Yellen declined to comment on how the Fed should proceed, but said the agency has managed monetary policy well.
“The trajectory of the labor market, the economy, and inflation suggest that the authorities made the right decisions.”
news-rsf-original-reference paywall">Original title:Yellen Declares US Economy Has Achieved Soft Landing(excerpt)
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