Yellen says U.S. recession less likely as labor market resilient, inflation easing

Treasury Secretary Janet Yellen believes the odds of the U.S. falling into recession have diminished, given the resilience of the labor market and inflation easing, Bloomberg reported.

“I’m not going to say it’s not a risk, because the Federal Reserve is tightening policy,” she said in an interview on Thursday. The Fed expects to raise rates two more times this year, following 10 hikes since March 2022.