US Treasury Secretary Yellen: There’s a risk of a recession

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In a CBS 60 minutes interview, US Treasury Secretary Janet Yellen said there’s a risk of a recession, but said it certainly isn’t something that is necessary to bring inflation down.

“I believe by the end of next year you will see much lower inflation if there’s not– an unanticipated shock,” she said.

Asked about the likelihood of recession, she said:

“There’s a risk of a recession. But– it certainly isn’t, in my view, something that is necessary to bring inflation down.”

Meanwhile, the US dollar, as measured by the DXY index, has moved 0.28% higher against a basket of currencies to 105.23, although it is not too far away from the five-month trough of 104.1 a week ago.

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