Yellen: U.S. Economy Strong, but Recession Still Possible

Treasury Secretary Janet Yellen stated that while a recession is still a possibility, the U.S. economy remains strong. Yellen acknowledged the slower pace of job gains in June but described it as normal after years of rapid growth. She emphasized that the job market is strong, with more workers returning and a falling unemployment rate. Yellen also noted that inflation, although still too high, has begun to ease. The Federal Reserve aims to bring inflation down while maintaining a healthy labor market.