‘Soft landing’ in sights, Treasury chief says
“You don’t really see any sign of recession here,” Yellen said at a Bloomberg event in Washington on Thursday, following a strong report on economic growth in the U.S. released earlier in the day.The Treasury chief was speaking after the government reported that gross domestic product surged at a 4.
9% annual pace in the third quarter, fueled by a big burst in consumer spending.Yellen, to be sure, said she didn’t expect growth to stay at the just-reported level, predicting instead it could come in at 2.5% for the year.U.S. stocks on Thursday were tumbling with the Nasdaq Composite COMP sliding further into correction territory, following another spate of disappointing corporate earnings.
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