Treasury Secretary Janet Yellen speaks during a news conference at the 2022 annual meeting of the International Monetary Fund and the World Bank Group, Oct. 14, 2022, in Washington.
The surprisingly strong hiring data, which occurred despite a slew of layoffs in the tech sector, dashed investor hopes that the Federal Reserve will soon pause its aggressive rate-hike campaign as it tries to cool inflation and the labor market. , she argued that the recent data proved the economy is still healthy. Inflation hit a high of 9.1% in June and has been falling for the past six months. Still, at 6.
"While sometimes we've gone up to the wire, it's something that Congress has always recognized as their responsibility and needs to do again," she said. The Treasury Department began deploying so-called "extraordinary measures" last month to ensure the U.S. government can continue to pay its bills, giving Congress until at least early June to raise the country's current $31.4 trillion borrowing limit., which is the legal limit on the total amount of debt that the federal government can borrow on behalf of the public, including Social Security and Medicare benefits, military salaries and tax refunds.
If your economy is in retreat you are in a recession. Your labour force participation is the lowest it has been for a while. It basically means people are looking for work.
You do when 10's of millions of unemployed/not looking for work aren't counted in your figures. Secyellen
Bologna!
YOUDO NOT HAVE A CLUE WHAT YOU ARE DOING
Why do I search my house for overdue books every time I see this woman..
Remember when the drive by media told us how smart she was?
You do when you use imaginary numbers.
Unless you fudge the job numbers
Then lower the internet rates cabal hauler Janet!
Just skyrocketing prices
Still not up to pre pandemic levels and she knows it
Canada recession started last year October but nobody talking about
Her comments are transitory in fact that become misinformation.
“It’s transitory”. Famous words from whom? You guessed it. Janet Yellin
Bureaucrat Hack Yellin should resign or be fired, Oh she's WOKE, and gets a pass like the rest of the pathetic Biden regime!
Is there any level of labor force participation decline that could cause a recession?
Employed people who don't have enough money for an egg sandwich and half pint of milk are living in a recession.
Lies and disinformation
Recession you recede, Americans have receded under Biden. So most Americans would say we have are in a recession since after he became President. Are you better off under Biden, yes or no?
Funding 7 million lazy men to stay home isn't creating jobs or helping them. You're ruining them
She really is one of the worst
SecYellen why is everyone in Biden's administration 1000 years old?
She's a lying loser
And the stripper loves me.
whats yodas gf doing in this administration
Tell that to the laid off tech workers.
Where did she go to school so I know which one to avoid?-
Let me ask: is it because unemployment claims are down because Americans exhausted unemployment benefits and are now in public assistance? Or living in the streets and shelters unrecorded? Nothing the DNC says makes any sense. Fudge fudge fudge. SecYellen
Good Cop bad cop
Such bulls**t! Now, not only has 'Mayor Pete' gotten the inherent lying gene from Biden but so has Yellen!
America has a high interest rate economy stupid, that retirees can not pay. Retirees going to lose their homes over high interest rates The only ones making money are the Banks and Credit card co all biden donors. Why arent you talking about your donors making money
Reality check: SecYellen
Whomever does is in for a ride awakening.
😂😂😂🤡
But we know you can do it.
Biden's economy is rocking!
Time to retire Mellow yellow, you old biddy. Especially talking to a village in Africa, whom promptly wiped your words with their asses and laughed when you left, thinking crazy white old woman. We will throw the doloshes (bones) and confirm what you are.
Why would anyone believe a word out of this under qualified persons mouth.
Even if you don't count all the people who are not actively looking.
Isn't Yellen wrong about everything?
And yet here we are.....so I guess the question is....is unemployment really at a 50yr low?
Wishful thinking lady, this is not the first time we've been down this road remember.
Dear Janet, 2 consecutive quarters of negative GDP IS & WILL ALWAYS BE A RECESSION. Not even YOU can put lipstick on a pig, thinking you can get away with it, so, face the macro-mirror
Tell us the SPECIFIC REASONS unemployment is as low as you claim it is Janet. We’ll let you torpedo your own recession claim with facts you will be forced to provide.
Picture of TRAITOR
And inflation is only going to be transitory. With 32 Trillion in unfunded debt and rising interest rates gut economy Printing money is only diluting the currency. And then they tell the woke the rich 1% will pay when in fact the rich 1% got the Trillions they now owe. Go figure.
Janet, you don’t have 50 year high inflation without having a recession! You have been wrong on everything. The time is coming soon, look at the lay offs on the higher paying jobs. People taking 2 jobs, higher credit card debt. And on and on.
Meanwhile, no affordable domestic energy; high housing costs; no affordable food; no affordable gas/diesel vehicles; no decent career jobs; no crime reduction; no southern border controls. Some victory lap…for one disaster after another. And I’m STILL involuntarily unemployed.
Is she in the hole Bin laden was in ?
This is the same person that told us over and over again that inflation was transitory.
Yes you do!!!!😡
What planet is she on.
I have NEVER heard that employment numbers EVER had even the slightest thing to do with a RECESSION.... Negative economic growth for a specific period of time..
Ok then why am I financially in the weeds
Even Yellen admitted she screwed the pooch on how bad the economy/inflation was going to get. So, the last thing we need is another flat-wrong incorrect statement when a record number of Americans are no longer actively seeking a job. secyellen
‘Two consecutive quarters of falling real GDP constitute a recession’ I missed the part about the unemployment rate.
People’s claims expired and they are ineligible to open a new claim 🤦♂️ look at the homeless population! Everyday more and more people are living out of their cars!!
kookoo
Bill.
She bases this on one variable in the entire formula. She should'nt hold this position.
Not to mention, I am currently finding a new job. I resigned from my old job.
ackshually every time unemployment has dipped below 4% a recession soon followed
We have a very high interest economy that Americans on fixed income cannot pay This is what you dont about The only people making money under biden are the Banks and Credit card companies
Sounds like the country she is talking about is doing well.
How is it that this old woman can lie like this?
What a tool
Yale University? She needs to demand her money back because they didn't teach her shit
Most job openings are in the low paying service industry convenience stores supermarkets
You also can’t have transitory inflation for 9 months before the Federal Reserve decides to act. Oh wait, you can. lol
How long is the USTreasury going to have to hold FannieMae and FreddieMac 's funds hostage? When will the U.S. government be able to pay the bills without stealing the retirement accounts of people like myself? What does the nationalization of F&F say about capitalism?
Lying Cluless wonder.....who arethese people?
Labor force participation rate and stock market lower and inflation and interest rates higher than when Brandon took office.
The description of unemployed was changed under Obama, those not looking work are not counted. The problem is government subsidies are enough to support people without working.
Cooking those numbers.
I think she needs to go back to school and re-learn economics. But this seems to be a constant theme. Unqualified people holding important positions in our government. This is what Diversity gets you.
WHO IS COUNTING THE MILLIONS OF ILLEGALS BIDEN LET INTO THE COUNTRY IN THE LAST TWO YEARS,,,,,ARE THEY ALL WORKING OR ARE WE SUPPORTING THEM,,,,,OUR DEBT IS OUT OF CONTROL AND BIDEN LETS MILLIONS OF ILLEGALS INTO OUR COUNTRY FORUS TO TAKE CARE OF
Add back in the 7.2 million that left the jobs market that are able to work!!
When you artificially create those unemployment numbers actually you do!
Remember Jerry - it’s not a lie if YOU believe it. Kinda like that “transitory” inflation?
Most inept administration ever...great job Joe POTUS
I don't trust anything about her.
But yet there is a labor shortage😆
Good example of the deer in the headlights look.
Standard definition met What's in the employment number is the fact that many positions are vacant....how long savings among the population holds out for will be the factor that says yep recession
Quit paying people to stay home and see where your numbers are at. Let’s get real. I’m tired of hearing their lying bullshit! This whole administration is a fraud!
Tell it to my neighborhood! Good god, lady!
MORE PEOPLE NOT WORKING than in American History yet unemployment at 50 year low according to Janet Yellen. So if FEDERAL GOVERNMENT is collecting MORE tax $MONIES in 50 years Ms. Yellen why are programs GOING 'BROKE' and WHY does GOVERNMENT continue to borrow MORE MONEY?
I'm not an economist but her assessments are awful.
Still not up to pre pandemic levels
Another pathological liar for the left! They never skip a beat, do they!!
Not possible to trust numbers coming from current administration they seem willing to mask the reality of economic strife for average Americans
The same individual who informed us that our inflation is transitory. 😂 also hoping someone addresses that we have an underemployment issue.We have a pilot,pharmacist,nursing,teacher etc. shortage that is reaching a critical stage.
What a stooge she is!
Lady you’re smoking something. You don’t experience it because you are not living paycheck to paycheck like most Americans
Oh Janet. Can we also redefine 'employment' as well? Unicorn is the new Bear.
Is that why the market said otherwise? They don’t believe whatever it is you’re saying or how you made those numbers. We know you have changed criteria for calculating jobs rates. Don’t bs us. Our money is not covering nearly what it used to, and your numbers are meaningless.
Lies, all lies.....
This woman is unfit for her office. Experienced economist as forecasting a depression similar to the 1930’s
But you rarely get the truth from this administration!!
Wonder what unemployment would be if the millions sitting on their butts not looking for a job were added back into the number?
anybody can make up figures
So FED should increase the interest rate So the economy will enter into recession So finally the unemployment will increase..that’s why is called ‘Lag Indicator ‘
AOC explained it. Everyone is working 3 jobs. So….
i hope they’re not going to make sh1t up again.
Probably transitory!
where do we get these people?
Inflation shifting people back to work or number manipulation a day befits state of the union?
She's hilarious. Terrible at her job, but hilarious.
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