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U.S. Treasury Secretary Janet Yellen testifies before a House Ways and Means Committee hearing on President Biden's proposed 2023 U.S. budget, on Capitol Hill in Washington, U.S., June 8, 2022. Jonathan Ernst/Reuters
Treasury Secretary Janet Yellen on July 24 again downplayed concerns about a possible recession while conceding that an economic slowdown is occurring.
Yellen told NBC News the U.S. economy is in “a period of transition in which growth is slowing,” which is “necessary and appropriate.”
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
