US Treasury Secretary Yellen: The country’s economy is slowing down, but we are not talking about a recession

US Treasury Secretary Janet Yellen confirmed the slowdown in the country’s economy.

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For example, according to Yellen, last year there was a rapid economic growth of about 5.5 percent. This situation made it possible to provide work to people who lost it during the pandemic. However, she noted that the high levels of employment and consumer spending at the moment prove that now we are not talking about a recession.

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“This is not the time when the economy is in recession. But we are going through a transitional period when its growth is slowing down, and this is necessary and appropriate, ”explained the head of the US Treasury.

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Earlier, Yellen said that Western states will crack down on those countries that abuse or disrupt the global economic order. “The United States and our allies like the [Republic of] Korea will work together to continue to demand strong commitment to the norms and values ​​that underpin the global economic order,” she stressed.