US Treasury Secretary Janet Yellen said Monday that her country is making good progress in slowing inflation and does not expect the economy to enter a recession.
Speaking to Bloomberg TV from India during a meeting of Group of 20 finance officials, Yellen said slower growth in China could spill over to other economies, but US activity is in “good way”.
“For the United States, growth has slowed, but our job market is still pretty strong. I don’t expect a recessionYellen said. “The most recent inflation data was quite encouraging”.
Yellen said Chinese officials raised serious concerns, especially about the US tariffs, during their visit earlier this month, but the underlying reasons Washington implemented them in the first place, including unfair trade practices, had not been addressed. .
“We have to see what comes out of the four-year review” of the tariffs, Yellen said, adding: “But I would emphasize that really the underlying concerns have not yet been addressed. And we must work on that in the future.”.
Yellen said the United States was likely to proceed with a new decree restricting outbound investment in China, but stressed that the measures would focus strictly on three sectors: semiconductors, quantum computing and artificial intelligence.
“They would contain a mix of notification requirements and, in a very limited part of these sectors, prohibitions, but they would not be blanket controls that would broadly affect US investment in China.“, said.
Source: Gestion
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