Yellen claims the economy is in a “soft landing” thanks to the jobs report and gasoline prices.

Ministry of Finance SSecretary Janet Yellen expressed her belief that the US economy appears to be in a “soft landing” recently.

Yellen appeared on CNN News Central on Friday and boasted about the reduction in gasoline prices and the latest jobs report that included 216,000 new jobs. The fear of a recession is “unjustified,” said the minister.

Employment growth accelerated to 216,000 jobs in December

“Well, there was a lot of pessimism about the economy; it really turned out to be unjustified. A year ago, most forecasters believed we would enter a recession. Obviously that didn't happen. “We have a good, strong labor market,” Yellen said. “What we're seeing now, I think we can call it a soft landing. And I hope that that's the case, that it continues.”

When host John Berman tried to credit Yellen for the recent economic turnaround by telling her, “You did it,” Yellen disagreed.

“Well, the American people did it. “The American people go to work every day, participate in the workforce and create new businesses,” Yellen said. “But President Biden has tried to provide stimulus to give Americans the tools they need to help grow this economy.”

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Meanwhile, the unemployment rate remained at 3.7%, the same level as the previous jobs report.

Yellen also mentioned the declining price of gas per barrel, which has resulted in a national average of $3.08, according to AAA, a price that has fallen over the past month. It is also lower than a year ago. Still, the price is still above the national average from April 2021, before prices rose above $3 per gallon.