Yellen says US economy is in 'soft landing'

Treasury Secretary Janet Yellen said Friday that the U.S. economy is achieving a “soft landing” as inflation continues to ease without showing signs of a significant economic downturn. “What we’re seeing now I think we can describe as a soft landing, and my hope is that it will continue,” Yellen said on CNN.

“The American people did it,” she added. “The American people go to work everyday, participate in the labor market, form new businesses. But President Biden has tried to create incentives that give Americans the tools they need to help this economy grow.” Yellen’s comments came shortly after the release of a surprisingly strong December jobs report.

The U.S. added 216,000 jobs in the final month of 2023 and kept the jobless rate at 3.7 percent, far exceeding the expectations of economists..