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- US Treasury Sec. Yellen: Inflation coming down but core measures remain elevated
US Treasury Sec. Yellen: Inflation coming down but core measures remain elevated
On the sidelines of G20 finance ministers and central bank governors' meeting on Friday, US Treasury Secretary Janet Yellen said that “inflation is coming down if you measure it on a 12-month basis, but still core inflation, which I think will fall further, remains higher than is consistent with 2%.”
Additional comments
A "soft landing" without a recession is possible due to a strong labor market and strong US. balance sheets.
US economy is fundamentally in good shape.
Employment, you know, continues to increase. Households are in good shape. You know, we don't have balance sheet problems of the type that we had prior to the (2008-2009) global financial crisis.
Market reaction
The US Dollar Index shows little to no reaction to the above comments, keeping its range at around 104.70. The spot is trading 0.11% higher so far.
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