U.S. Treasury Secretary Janet Yellen reassured the public in Austin, Texas, that the U.S. economy remains strong despite recent weak job reports, stating that while job growth has slowed from the initial reopening frenzy, the economy is still operating at full employment. Yellen’s comments come after the Bureau of Labor Statistics reported lower-than-expected job creation numbers for August, sparking concerns about a potential recession. Despite these worries, Yellen expressed confidence in the Federal Reserve’s ability to achieve a “soft landing” by lowering interest rates to control inflation and avoid an economic downturn.
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