6/7, 2:13 PM (Source: TeleTrader)
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Yellen: US can bring down inflation and keep strong labor market

United States Treasury Secretary Janet Yellen said on Wednesday that she sees a way for the US to bring down inflation "while maintaining a strong labor market." She told CNBC that the labor market remains quite strong, "with unemployment close to 50-year lows and very healthy job creation," but that there are also signs that the pressures in the market are easing and that the US will continue to see progress in getting inflation down to the 2% target over the next two years.

"Now that our economy is operating in the vicinity of full employment, we are very focused on investing in America, strengthening long-term prospects for our economy, to make it more competitive, to create good jobs," Yellen said, praising the recent raising of the debt ceiling, which allowed the government to "keep paying America's bills."

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