ROSEBUD, South Dakota (Reuters) – U.S. Treasury Secretary Janet Yellen mentioned on Tuesday that she nonetheless views two quarters of unfavourable development as a superb rule of thumb to point a recession, however believes it’s doable to convey down inflation whereas sustaining a robust labor market.
“A shorthand of two quarters of unfavourable development is often labored, and so lots of people consider it that manner,” Yellen advised reporters throughout a go to to the Rosebud Sioux Tribe reservation in South Dakota when requested how she would measure a recession. “However recessions aren’t all the identical.
“There are deep recessions. There are shallow recessions. There are recessions which have fast restoration. There are recessions that may increase the unemployment charge barely, however not an entire lot,” she mentioned.