Yellen: The US economy is on the right track

Treasury Secretary Janet Yellen said the Biden administration's economic policies have been successful and are driving a boom in private sector investment in the United States and spurring historic job growth. This means that wage gains outpace inflation.

Yellen stressed that the US economy is on the right track as it continues to move from a rapid recovery to stable growth, although it is important to remain vigilant about potential challenges, especially abroad.

"I still believe there is a path to continue to reduce inflation while maintaining a healthy labor market," Yellen said, adding that consumer sentiment is now at its highest level in nearly two years, and emphasized the continued resilience of the US economy and the rebuilding of the US manufacturing base despite the predictions of some. That the economy will slip into recession.

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