Treasury Secretary admits economic downturn and higher gas prices in winter are a ‘RISK’ despite her multi-state victory tour for Biden
- Treasury Secretary Janet Yellen has for months sought to strike an optimistic tone about the economy even as financial experts see a gloomy outlook
- On Sunday she told CNN that a recession was a ‘concern’ for the White House
- It comes as the Federal Reserve is reportedly eyeing yet another round of interest rate hikes in its plan to slow inflation
- Gas prices have plummeted more than $1.50 since reaching an all-time high nationwide average in June but Yellen warned they could go up again
- She blamed Russia’s invasion of Ukraine for upending the energy supply chain
- The Biden official is visiting multiple states to tout the president’s economic and legislative accomplishments ahead of the November midterm elections
"The Fed is going to need great skill and also some good luck … "
Secretary of the Treasury @SecYellen responds to Sen. Elizabeth Warren (D-MA) saying she fears the Federal Reserve will tip the economy into a recession. @CNNSotu #CNNSOTU pic.twitter.com/sojQt1g5ot
— CNN (@CNN) September 11, 2022
