{"id":2036049,"date":"2023-09-18T14:38:02","date_gmt":"2023-09-18T18:38:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-treasury-secretary-expresses-confidence-in-the-economy-despite-rising-inflation-uaw-strike\/"},"modified":"2023-09-18T14:40:25","modified_gmt":"2023-09-18T18:40:25","slug":"u-s-treasury-secretary-expresses-confidence-in-the-economy-despite-rising-inflation-uaw-strike","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-treasury-secretary-expresses-confidence-in-the-economy-despite-rising-inflation-uaw-strike\/","title":{"rendered":"U.S. Treasury Secretary remains optimistic about economy despite inflation and UAW strike."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-treasury-secretary-expresses-confidence-in-the-economy-despite-rising-inflation-uaw-strike%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2036049&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Federal \u2064Reserve \u200dBoard Chairwoman Janet Yellen speaks \u2062during a news conference December\u2062 17, 2014 at the headquarters of Federal Reserve Board of Governors in Washington, DC. The Federal Reserve \u200cannounced that it \u2063will not increase\u2064 target funds\u200d rate for now.  (Photo by Alex \u200bWong\/Getty Images)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/stephanie-myers\">Stephanie Myers<\/a><br \/>11:28 \u200bAM \u2013 Monday, September 18, 2023<\/h2>\n<p>Treasury Secretary Janet \u2062Yellen confidently\u200d stated on Monday that the U.S. \u200deconomy is not heading towards a recession. She pointed to the strong labor\u200c market,\u2062 cooling inflation, and\u200b robust consumer \u200cspending as evidence supporting her optimistic forecast.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI don\u2019t see any signs that the economy is \u200cat risk\u200d of a\u2062 downturn, and this is the\u200c best of all worlds to see continue strength in the economy, good \u2063strong labor market, and inflation moving down, and\u200c that is what we\u2019re seeing,\u201d Yellen said in \u2062an\u2064 interview with CNBC\u2019s \u201cSquawk on the Street.\u201d\u00a0 \u200b   <\/p>\n<\/blockquote>\n<p>The most\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-treasury-secretary-expresses-confidence-in-the-economy-despite-rising-inflation-uaw-strike\/\" title=\"U.S. Treasury Secretary remains optimistic about economy despite inflation and UAW strike.\">recent\u00a0consumer price\u2063 index report showed inflation ticked<\/a>\u2062 up from 3.2% in\u200c July to 3.7% year-over-year in\u2062 August as the Federal\u2062 Reserve continues raising\u2063 interest\u200b rates \u2063to combat inflation. To date, the \u200dFed increased rates 11 times since March 2022 to their \u2064highest level since 2001. <\/p>\n<p>Core\u200b inflation, which excludes food and energy\u200b prices due to their\u200d volatility, also rose on a month-to-month basis to\u200d 0.3% in August from 0.2% in July. <\/p>\n<p>Yellen emphasized the need for Congress to pass a government funding\u200c bill to\u2062 avert a shutdown and prevent any negative impact on the economy. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThere\u2019s absolutely\u2062 no reason for a shutdown,\u201d Yellen said. \u201cWe\u2019ve \u200bgot a\u2062 good, strong\u200c economy as \u200cwe just discussed and creating something that, situation that could cause a\u2064 loss of momentum is something \u200cwe don\u2019t need \u200bto risk at this\u200b point.\u201d <\/p>\n<\/blockquote>\n<p>When asked about the\u2062 historic <a href=\"https:\/\/www.oann.com\/newsroom\/uaw-union-strikes-at-gm-ford-stellantis-plants-after-new-contract-is-not-reached\/\">United\u200c Autoworkers Union strike <\/a>against the big three automakers, Yellen noted it is still\u2064 too \u200bearly to say how this would affect\u200b the economy. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cIt\u2019s premature to be making forecasts on what it \u2063means for the economy. It would depend on \u2062how long the strike \u2062last and who\u2019s affected by it,\u201d Yellen \u200bremarked. <\/p>\n<\/blockquote>\n<p>The \u200ctreasury secretary noted the\u200d two sides \u201cneed to narrow their disagreements\u201d and negotiate\u200d a contract that works for the \u2064workers\u200b and for the industry. <\/p>\n<p>The strikes began Friday,\u200d September 15<sup>th<\/sup>, \u200dafter the UAW \u200cand the \u2064\u201cBig Three\u201d\u200d automakers \u2014\u00a0General\u200c Motors, Stellantis, and Ford \u2014 failed to agree\u2062 on a new labor\u00a0contract. <\/p>\n<p>Currently, the strike affects just under 13,000 workers at three auto plants, but could involve additional locations as part of UAW\u2019s \u201cstand up strike\u201d plan. <\/p>\n<p>Stay informed! Receive breaking\u200b news blasts\u200b directly to your \u200binbox for free. Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><a rel=\"noreferrer noopener\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fwww.oann.com%2Fnewsroom%2Fshaquille-oneal-teams-up-with-la-port-police%2F&#038;t=Shaquille%20O%E2%80%99Neal%20Teams%20Up%20With%20LA%20Port%20Police\" target=\"_blank\"><\/a><a rel=\"noreferrer noopener\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fwww.oann.com%2Fnewsroom%2Findiana-sen-mike-braun-endorses-trump-adding-to-growing-list-of-elected-officials-backing-the-45th-president%2F&#038;t=Indiana%20Sen.%20Mike%20Braun%20Endorses%20Trump%2C%20Adding%20To%20Growing%20List%20Of%20Elected%20Officials%20Backing%20The%2045th%20President\" target=\"_blank\"><\/a><a rel=\"noreferrer noopener\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fwww.oann.com%2Fnewsroom%2Ff-35-fighter-jet-lost-in-mishap-prompting-questions-from-lawmakers%2F&#038;t=F-35%20Fighter%20Jet%20Lost%20In%20%E2%80%98Mishap%2C%E2%80%99%20Prompting%20Questions%20From%20Lawmakers\" target=\"_blank\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Socialists gather for their annual conference in\u2063 Chicago, \u200bwhere\u2062 they discussed how\u2064 to\u200d get around \u200dlaws \u200bbanning indoctrination into Marxist concepts\u2063 at schools.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Cincinnatians\u200c gather to celebrate their German heritage\u2064 at the annual Oktoberfest\u2062 festival. \u2062One America\u2019s Sam Valk, a Queen \u200bCity\u2063 native, tells the story of the festival.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Congressman Andy \u2062Biggs<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Edward Dowd<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>LONDON (Reuters) -The European Commission launched an investigation on Wednesday into whether \u200cto\u2064 impose punitive tariffs to protect European Union automakers against\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By John\u200d Revill ZURICH (Reuters)\u2064 \u2013 ABB is spending $280 million on a new robotics factory in Sweden, the Swiss engineering \u200cand\u2026 \u2063 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>PARIS (Reuters) \u2013 French Europe Minister Laurence Boon \u2062on Wednesday welcomed an anti-subsidy investigation into Chinese electric vehicles\u2063 launched \u200dby\u200c the EU\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Mathieu Rosemain and Silvia Aloisi PARIS (Reuters)\u2062 \u2013 Apple \u2062said on Wednesday its iPhone 12 model was certified by multiple international\u2026 <\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> How does Treasury Secretary Janet \u200cYellen view the current state \u200dof \u200binflation\u2062 and interest rates, and what actions has the Federal Reserve taken to address\u200d these concerns?<\/h2>\n<p><span>  \u2062Title: Treasury Secretary Janet Yellen Expresses Confidence in US Economy<\/p>\n<p>Introduction:<\/p>\n<p>In a recent statement, Treasury Secretary Janet Yellen conveyed her belief that the \u200cUnited States economy is not heading towards a recession. Yellen cited several factors, including a robust labor market, cooling inflation, and\u2064 strong consumer spending, to \u200bsupport her \u2063optimistic forecast. Her remarks \u2062come \u2064amidst ongoing concerns \u2064about rising\u2062 inflation and the impact of\u2062 the\u2062 United Autoworkers Union strike on \u2063the automotive industry.<\/p>\n<p>Labor Market and Consumer \u2063Spending:<\/p>\n<p>Yellen highlighted the strength of\u2062 the labor market as one of the \u2063key indicators \u2062supporting her positive outlook. She pointed\u2062 out that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/covid-crutch-buttigieg-says-supply-chain-crisis-will-get-a-lot-better-when-pandemic-ends\/\" title=\"COVID CRUTCH: Buttigieg Says Supply Chain Crisis \u2018Will Get a Lot Better\u2019 When Pandemic Ends\">unemployment rates remain low<\/a> and emphasized the importance\u200d of maintaining this level \u2063of employment. Additionally, Yellen noted \u2063the \u200dsteady growth of consumer spending, which further bolsters the economy.<\/p>\n<p>Inflation and Interest \u200bRates:<\/p>\n<p>While acknowledging that inflation has increased recently, Yellen is optimistic about its\u2062 future trajectory. The Treasury \u200bSecretary emphasized \u200cthat the Federal Reserve\u200d has been proactive in addressing inflation concerns by raising\u200b interest rates multiple times. She pointed \u200cout that this approach has\u2062 been effective in combatting inflation and preventing further \u2062economic instability.<\/p>\n<p>Government Funding and Shutdown\u200c Risks:<\/p>\n<p>Yellen underscored \u200cthe urgency of passing a government funding bill to avoid a potential shutdown and its negative impact on the\u200b economy. She emphasized that the\u2062 strong economic \u200dmomentum should \u2064not be jeopardized and called \u200cfor bipartisan efforts\u2064 to ensure the smooth\u200d functioning of the government.<\/p>\n<p>Impact of the United Autoworkers Union Strike:<\/p>\n<p>Regarding the ongoing strike by the United\u200c Autoworkers Union against the\u2063 major automakers, Yellen stated that it is \u2063too early \u200dto\u2064 determine the \u200dexact consequences for the\u200b economy. She highlighted the importance of the two parties reaching a consensus and \u200dnegotiating a\u200d labor\u2063 contract that benefits both the workers and the industry. The strike initially \u200cimpacted around 13,000 \u2062workers at three \u200cauto plants, but there is a possibility of its extension\u200c to additional locations as part of the \u200cunion&#8217;s &#8220;stand up \u2063strike&#8221; plan.<\/p>\n<p>Conclusion:<\/p>\n<p>Treasury \u2063Secretary\u200c Janet Yellen&#8217;s positive assessment of the \u2062US economy provides \u2064reassurance amid \u2062concerns about\u200d a potential recession. Her observations regarding the strong labor market, cooling inflation, and robust consumer spending \u2062contribute to\u200b a favorable economic outlook. However, challenges such as the\u200b ongoing strike in the automotive industry and the need for timely government funding require\u2062 careful attention to \u200bsustain \u2062the current economic momentum. By engaging in continued \u200ddialogue and \u2062implementing appropriate measures, it is\u200c hoped that the United States can navigate these challenges successfully, ensuring a stable and prosperous \u2064economy in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Janet Yellen, Chairwoman of the Federal Reserve Board, announced no immediate increase in target funds rate during a news conference in Washington, DC. This decision was made on December 17, 2014. (Photo by Alex Wong\/Getty Images)<\/p>\n","protected":false},"author":1209,"featured_media":2036050,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2036049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2036049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1209"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2036049"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2036049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2036050"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2036049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2036049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2036049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}