Yellen says recession ‘not completely off the table’ following latest jobs report

[mystery-ak]

Yellen says recession ‘not completely off the table’ following latest jobs report
by Julia Mueller - 07/09/23 8:07 AM ET

Treasury Secretary Janet Yellen in an interview from Beijing would not rule out any potential recession in the U.S. following the latest jobs report that showed a slowdown in the labor market.

“It’s not completely off the table,” Yellen said when asked what the odds are of a potential recession on CBS News’s “Face the Nation,” in an interview to be aired on Sunday.

“But we would expect, with the job market as strong as it is now, to see a slower pace of ongoing job gains. Prime age labor force participation is at the highest level in several decades, so we’ve seen this strong job market attract workers back to it. But as- as that stabilizes at a high level, we should expect the monthly job gains to be coming down toward a more normal level,” Yellen said.

​​The June jobs report found the nation’s unemployment rate fell to 3.6 percent as the economy added 209,000 jobs — marking the fewest jobs added since December 2020. Still, the jobless rate was down from 3.7 percent in May.

The Federal Reserve has implemented aggressive interest rate hikes to try and tamp down high inflation amid fears of a possible recession. The numbers in the new job report could indicate more rate hikes to come.

more
https://thehill.com/business/4087450-yellen-says-recession-not-completely-off-the-table-following-latest-jobs-report/

[Kamaji]

[GtHawk]

This incompetent needs to be retired, if she ever was competent those days are far far behind her.

[libertybele]

This incompetent needs to be retired, if she ever was competent those days are far far behind her.

Perhaps her incompetency is by design??

[DefiantMassRINO]

I think there's a campaign to 'talk down' economic activity to tamper inflation.  People are realizing that if the Feds keep raising rates too quickly, more financial institutions may fail.  D'oh!

[GtHawk]

Perhaps her incompetency is by design??

I'll buy that her incompetency and mental decline are being used by others, but after watching her being lost in space when asked questions in the hearings, she couldn't answer any question without fumbling through her binder and invariably the answer she gave were vague or not related to the question. Not every elder person is mentally compromised but those who are have no business anywhere near the running of our government. And sadly we have an awful lot that shouldn't be there, Feinstein, Biden, Pelosi, Yellen, Waters, Nadler....the list just keeps going.