Due to prevailing political tensions and the effects of pandemics, America is currently floundering with 40-year high inflation. Due to high inflation, Americans feel pressured for not being able to accumulate enough emergency savings. Witnessing the present scenario U.S. Treasury Secretary Janet Yellen claims that she expects a solid boost and growth on various fronts of the U.S. and a "soft landing" for the U.S. economy as the Federal Reserves are endeavoring to bring down the inflation.
Yellen acknowledges in an interview at Wall Street Journal that "I do speculate we're going to see substantial growth in the coming year." Further justifying her claims, Yellen said, "The Fed needs to be potent, skill full and lucky, and I believe it is a possible combination." Witnessing the present inflation rate, numerous economists have predicted a subsequent recession in 2023, as the Fed has increased the interest rate, with a half-percent increase point."
Besides assuring to battle the ongoing inflation, Yellen blatantly warned that the U.S. would keep on resenting the Russian actions if it kept up the invasion of Ukraine. Lauding the efforts of the U.S. imposing sanctions on Russia, Yellen claimed that "the current sanctions imposed on Russia seem to undermine its economy, and there is more than the U.S. can do to jolt Russia."