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MNI BRIEF: Yellen Says Fed Has Path To Hike Without Recession

MNI (Washington)
USPolicyFederal ReserveStoryCentral BankBriefRegionNorth America

Treasury Secretary Janet Yellen told lawmakers the Federal Reserve has a path to increase interest rates without setting off a recession.

"The Fed has a path to bring down inflation, without causing a recession and I know that it will be their objective to try to accomplish that," she said at a hearing before Congress when asked about risks of stagflation. "We have a really good, strong labor market. We have household balance sheets that are in good shape," the former Fed chair said, while also expressing confidence in businesses' ability to handle increased debt costs.

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Treasury Secretary Janet Yellen told lawmakers the Federal Reserve has a path to increase interest rates without setting off a recession.

"The Fed has a path to bring down inflation, without causing a recession and I know that it will be their objective to try to accomplish that," she said at a hearing before Congress when asked about risks of stagflation. "We have a really good, strong labor market. We have household balance sheets that are in good shape," the former Fed chair said, while also expressing confidence in businesses' ability to handle increased debt costs.