She said US Treasury Secretary Janet YellenThe Fed chair, who was Fed chair before Jerome Powell, said the Fed would need to be highly skilled and also lucky to lead the economy out of a recession.
Yellen stressed during a conference organized by the “Wall Street Journal”, that the US economy will witness solid growth next year, noting that a soft landing of the economy is possible.
As for the dollar’s strength, Yellen added that some of the increase in the dollar’s value is due to higher US interest rates.
And warned the US Treasury Secretary that the United States is ready to respond forcefully to any deliberate devaluations of currencies.
Powell had said yesterday, Wednesday, that the US economy is still strong despite the slowdown in growth, which confirmed that it does not present any risks of recession now.
Powell added in a press conference, “It’s a strong economy. Nothing suggests that it is close to or vulnerable to recession,” following the Reserve announced an increase in key interest rates and indicated that other increases were likely.
He noted that central bank officials are not “actively” considering a three-quarter percentage point rate increase at upcoming monetary policy meetings.
