Yellen says U.S. economy remains solid, heading toward ‘soft landing’

Treasury Secretary Janet Yellen recently emphasized that the U.S. economy is still going strong, despite some recent reports of weak job growth that have caused concern among investors. Yellen acknowledged that job growth has slowed compared to the rapid hiring seen earlier in the economic recovery from the pandemic, but she believes that the economy is still in good shape and operating at full employment. The recent jobs report showed lower-than-expected job creation in August, but the unemployment rate did decrease slightly. Yellen tried to reassure the public that there is no need to panic about the state of the economy, and that the Federal Reserve is taking steps to address any concerns about inflation and potential recession.