Yellen: ‘You Don’t Have a Recession’ When US Unemployment at 53-year Low

U.S. Treasury Secretary Janet Yellen attends media briefing ahead of bilateral talks with South Africa's Finance Minister Enoch Godongwana (not pictured), at the treasury offices in Pretoria, South Africa, on Jan. 26, 2023. Siphiwe Sibeko/Reuters

WASHINGTON—U.S. Treasury Secretary Janet Yellen on Monday said she saw a path for avoiding a U.S. recession, with inflation coming down significantly and the economy remaining strong, given the strength of the U.S. labor market.

“You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years,” Yellen told ABC’s Good Morning America program.