Treasury Secretary Janet Yellen said Friday that the U.S. economy is reaching a “soft landing” as inflation continues to ease without showing signs of a significant economic slowdown.
“What we're seeing now I think we can call a soft landing, and I hope it continues,” Yellen said in an interview on CNN.
“The American people did it,” she added. “The American people go to work every day, participate in the workforce and create new businesses. But President Biden has sought to provide stimulus that will give Americans the tools they need to help grow this economy.”
Yellen's comments came shortly after the release of a surprisingly strong jobs report for December.
The U.S. added 216,000 jobs in the final month of 2023 and kept the unemployment rate at 3.7 percent, far exceeding economists' expectations.
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