Yellen Anticipates Decline in Inflation, Boosting Market Confidence

US Treasury Secretary Janet Yellen expects inflation to continue falling and believes it will reach the Federal Reserve's 2% target by the end of 2024. Yellen also expressed confidence in the US economy, stating that she sees a reasonable chance of continued growth in 2024 and a low risk of recession. She noted an uptick in consumer confidence and stated that consumers are beginning to understand that inflation is decreasing, with real earnings also increasing. Yellen trusted the Federal Reserve to manage monetary policy and suggested that interest rates may ease as inflation comes down.