Robust Consumer Spending Bolsters US Economy
In a recent interview with CNBC, US Treasury Secretary Janet Yellen shed light on the current state of the US economy. Describing it as strong, she noted that robust consumer spending significantly bolstered the economy, even though some sectors are witnessing a slowdown.
Inflation Expectations: A Positive Outlook for the Next Two Years
Yellen continued to share her positive expectations for the future. She expressed confidence in the continued progress of curbing inflation over the next two years, projecting an optimistic economic outlook despite the existing challenges.
Banking Sector Resilience Amid Potential Real Estate Struggles
The Treasury Secretary also addressed concerns regarding the banking sector, particularly commercial real estate. While acknowledging the possibility of some banks facing consolidation and struggling with commercial real estate, Yellen reassured that there's ample liquidity within the system. Thus, she conveyed that banks should generally be able to withstand any forthcoming strain, reflecting resilience in the banking sector.