Yellen says economy safely landing with jobs report, gas prices
Treasury Secretary Janet Yellen Optimistic About US Economy
In a recent appearance on CNN News Central, Treasury Secretary Janet Yellen expressed her belief that the United States economy is experiencing a “soft landing.” Yellen proudly highlighted the positive impact of lower gas prices and the latest jobs report, which revealed the addition of 216,000 jobs. According to Yellen, concerns of a recession are unfounded.
Employment Growth Surges with 216,000 Jobs in December
“There has been a lot of pessimism about the economy, but it has proven to be unwarranted,” Yellen confidently stated. “A year ago, most forecasters predicted a recession, but that hasn’t materialized. We have a robust labor market, and what we are witnessing now can be described as a soft landing. My hope is that this trend will continue.”
When host John Berman attempted to credit Yellen for the recent economic turnaround by saying, “You did it,” Yellen humbly disagreed.
“Well, the American people did it. They go to work every day, actively participate in the labor market, and establish new businesses,” Yellen responded. “President Biden has also implemented incentives to equip Americans with the necessary tools to foster economic growth.”
Meanwhile, the unemployment rate remained steady at 3.7%, matching the previous jobs report.
Yellen also highlighted the declining price of gas per barrel, resulting in a national average of $3.08, according to AAA. This price has been consistently decreasing over the past month and is lower than it was a year ago. However, it still exceeds the national average of April 2021, when prices rose above $3 per gallon.
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