Treasury Secretary Janet Yellen on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession.
. The data will cover sales of new homes, consumer confidence, incomes, spending, inflation, and overall output.
. Two straight negative readings is considered an informal definition of a recession, though in this case economists think that's misleading.Instead, the National Bureau of Economic Research — a nonprofit group of economists — defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.”
She said that slowdown is “necessary and appropriate," because “we need to be growing at a steady and sustainable pace.”Still, many economists think a recession is on the horizon, with inflation eating away at Americans' ability to spend and the Federal Reserve rapidly pushing up borrowing costs. Last week, Bank of America's economists became the latest to forecast a “mild recession” later this year.
Fewer home sales also means less spending on items that typically come with purchasing a new house, such as furniture, appliances, curtains, and kitchenware.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Treasury Sec. Janet Yellen acknowledges economic ‘slowdown’ but downplays recession fearsTreasury Secretary Janet Yellen said Sunday that the 'economy is slowing down' but it is not heading for a recession, despite many economists arguing the U.S. is already in one.
Les mer »
Janet Yellen says 'economy is slowing down' but not in a recession'A recession is a broad-based contraction that affects many sectors of the economy. We just don't have that.'
Les mer »
Yellen downplays U.S. recession risk as wave of key economic data loomsJanet Yellen argued Sunday that much of the economy remains healthy: “We’ve got a very strong labor market,” she said. “This is not an economy that’s in recession.”
Les mer »
Yellen predicts Fed’s anti-inflation policies will be ‘successful,’ after wrongly calling it 'transitory'Treasury Sec. Janet Yellen predicted Sunday that the Federal Reserve's anti-inflation policies will be 'successful' after previously admitting she'd been wrong about inflation.
Les mer »
U.S. economy slowing, but recession not inevitable, Yellen says By Reuters*U.S. ECONOMY IS SLOWING, BUT RECESSION NOT INEVITABLE, YELLEN SAYS - 🇺🇸🇺🇸
Les mer »
Yellen downplays U.S. recession risk as wave of key economic data loomsJanet Yellen argued Sunday that much of the economy remains healthy: “We’ve got a very strong labor market,” she said. “This is not an economy that’s in recession.”
Les mer »