by David Lawder
BANGALORE (Reuters) – U.S. inflation is falling but there is still work to be done to bring it back towards the 2% target set by the Federal Reserve, Treasury Secretary and former President Janet Yellen said on Friday. of the central bank.
On the sidelines of a meeting in India of G20 finance ministers and central bank governors, Janet Yellen told reporters she still believed a “soft landing” for the economy was possible, without recession, thanks to the strength of the US labor market and balance sheet.
“Inflation is falling if you measure it on a 12-month basis, but core inflation, which I believe will fall further, remains above what is consistent with a 2% rate,” he said. she said.
Echoing remarks made the day before that the US and global outlook is improving despite the war in Ukraine, Janet Yellen stressed that the US economy was “fundamentally in good shape”.
“Jobs, you know, are still growing. Households are doing well. You know, we don’t have balance sheet problems of the kind we had before the global financial crisis,” the US secretary told the Treasury, referring to the high levels of debt and the collapse of house prices during this period.
(David Lawder, Laetitia Volga, edited by Blandine Hénault)
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