Yellen says US ‘soft landing’ underway, low inflation, wage growth to spur confidence

FILE PHOTO: U.S. Treasury Secretary Janet Yellen meets with Mexican business leaders during her visit in Mexico City, Mexico December 6, 2023. REUTERS/Daniel Becerril/File Photo

WASHINGTON (Reuters) — U.S. Treasury Secretary Janet Yellen said on Friday that a «soft landing» in the U.S. economy was now underway and a sustained period of low inflation and rising wages was needed for Americans «to feel good about their future prospects.»

Yellen told CNN in an interview after solid December job growth data that consumer spending patterns suggest confidence in the economy.

«What we’re seeing now I think we can describe as a soft landing and my hope is that it will continue,» Yellen said.

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