Minneapolis
CNN
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US Treasury Secretary Janet Yellen stated that she believes the American economy remains strong and its banking system is resilient despite some recent turmoil among regional financial institutions.
“I’ve not really seen evidence at this stage suggesting a contraction in credit, although that is a possibility,” Yellen said at a press conference Tuesday ahead of the spring World Bank meetings. “I believe our banking system remains strong and resilient; it has solid capital and liquidity.”
She added that the “US economy is obviously performing exceptionally well,” noting solid job creation, moderating inflation and robust consumer spending.
“So I’m not anticipating a downturn in the economy, although of course that remains a risk,” she said.
The global economy remains in a better place than many have expected, she said.
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2023-04-11 11:24:31
Original from www.cnn.com