US Treasury Secretary Janet Yellen acknowledged the economic slowdown in her country, noting that there is a risk of a recession, “but it is not inevitable.”

Yellen said in her statements that “strong employment and consumer spending shows that the US economy is not currently in recession,” adding that “this situation indicates that the domestic economy is in a period of transition in which growth is slowing down. and it is necessary and appropriate.”

She felt that inflation was “too high” and that recent interest rate hikes were helping to rein in prices and bring them under control, explaining in this regard: “I’m not saying that we will definitely avoid a recession, but I believe that this is the path that maintains the strength of the labor market and leads to lower inflation.”

Notably, in June last year, the US Federal Reserve decided to raise its key interest rate by 75 basis points, the third attempt in three months to curb inflation, limit price increases and restore confidence in the economy. institutions faced with unusual challenges and difficulties, preceded in recent history by the effects of the coronavirus pandemic and the Ukrainian crisis.

The recent U.S. federal decision came as part of an accelerated response to inflation in the country, which is at its highest level in more than 40 years.