"Inflation is coming down if you measure it on a 12 month
basis, but still core inflation, which I think will fall
further, remains higher than is consistent with 2%," she said,
referring to the Fed's target rate.
Echoing comments she made on Thursday that the U.S. and
global outlooks were improving despite ongoing pressures from
the war in Ukraine, Yellen said the U.S. economy is
"fundamentally in good shape."
"Employment, you know, continues to increase. Households are
in good shape. You know, we don't have balance sheet problems of
the type that we had prior to the (2008-2009) global financial
crisis," Yellen said referring to high debt levels and crashing
home prices of that era.
(Reporting by David Lawder. Editing by Jane Merriman)
By David Lawder
BENGALURU, Feb 24 (Reuters) - U.S. Treasury Secretary
Janet Yellen said on Friday that U.S. inflation was coming down
but there was still more work to do to bring it in line with the
Federal Reserve's 2% annual target.
Yellen also told reporters on the sidelines of a G20 finance
ministers and central bank governors' meeting near the Indian
tech hub of Bengaluru that she still believes that a "soft
landing" without a recession is possible due to a strong labor
market and strong U.S. balance sheets.
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