Yellen says U.S. recession unlikely, but no drop in gasoline prices soon

2022.06.10 00:30

FILE PHOTO: U.S. Treasury Secretary Janet Yellen testifies during a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S. budget, on Capitol Hill in Washington, U.S., June 8, 2022. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday she does not think the U.S. economy is going to experience a recession, but gasoline prices were unlikely to fall anytime soon.

“I don’t think we’re (going to) have a recession. Consumer spending is very strong. Investment spending is solid. I expect growth to slow down,” she told a New York Times Dealbook event.

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