Posted on 10/27/2022 7:45:38 PM PDT by RandFan
Treasury Secretary Janet Yellen on Thursday said she does not see signs of a recession after the Commerce Department released data showing the economy rebounded in the third quarter of the year.
Speaking on CNN’s “Erin Burnett OutFront” in Ohio, Yellen said that “what we’re seeing right now is solid growth this quarter” in the economy and low unemployment across the workforce.
“It’s very natural that growth would slow. And it has over the first three quarters of this year, but it continues to be OK,” she said. “We have a very strong labor market. I don’t see signs of a recession in this economy at this point.”
On Thursday, data from the Commerce Department showed U.S. gross domestic product (GDP) grew at an annualized rate of 2.6 percent between July and September, a healthy sign after six months of a shrinking economy.
Still, much of the growth in third quarter GDP was driven by a surge in exports, and some leading economists are not expecting growth to continue later this year or early next year.
With inflation at a 40-year high, the Biden administration has been on the defensive during an election year, repeatedly listing other indicators of a strong economy such as high job growth and healthy consumer spending to indicate a recession is not on the horizon.
(Excerpt) Read more at thehill.com ...
she hears no evil, too.
Not from her ivory tower. Her bank account is loaded. life is good.
The Old Bat is just plain STUPID or is lying through her teeth.
Well that comes as no surprise. Perhaps Ms. Yellen should extract her brain housing group from that place where the sun never shines. Idiot.
Last year at this time she said inflation was transitory too
What color is the sky in Yellen’s world...
It’s both.
Sounds like a Ray Charles statement.
I guess The Hill and Breitbart have something in common.
https://freerepublic.com/focus/f-news/4104096/posts
I’m confident it’s the latter.
More like DEPRESSION!
We had two quarters in a row of negative growth, which is a recession, but she sees no sign of a recession.
go buy groceries or gas.
Despite what the majority of academic Macroeconomics textbooks say.....
WTG YellenIdiot.
Janet Yellen is a hack and has no idea what she’s doing.
Look again, dumbass...
How about both? 🤪😀
Actually it’s the Macro textbooks that are the problem. It’s been that way for decades. I was lucky that I had an Austrian Econ prof for two macro classes in college. He despised John Maynard Keynes. My prof was brutally difficult. The math just rolled off his finger tips. He would start on one board and wrap around the classroom without pausing. He didn’t care, it was our job to keep up with him. I loved learning from people like that.
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