Inflation in the US will be lower in 2023

Janet Yellen predicted that the indicator will be lower in the US than it was during this year 2022

The secretary of the United States Department of the Treasury, Janet Yellen, is confident that the inflation rate will be “much lower” by the end of next year, while she has not ruled out the risk of a double-dip recession in the world’s leading economy.

“There is a risk of a recession,” she said during an interview on CBS’s “60 Minutes” program, where she argued that she does not expect an economic contraction to be necessary to reduce inflationary pressures.

In this sense, Yellen said that a substantial slowdown in growth is taking place, after the strong recovery after the pandemic, with a healthy labor market, households and companies in good position and a banking system in good health.

In this way, she pointed out that shipping costs have been reduced and delivery delays have been shortened, while fuel prices are falling. “I think we will see a substantial reduction in inflation in the next year.”

Also, despite the uncertainty, Yellen expressed high hopes that the job market remains healthy enough for people to be comfortable with their finances and their personal economic situation.

On the other hand, the US Treasury Secretary warned that Washington is willing to continue sending military aid to Ukraine “for as long as it is necessary.”


Source: DF

(Photo: Image by Andrew Harnik, via AP)

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