US recession is not impossible to avoid, says Treasury secretary

US recession is not impossible to avoid, says Treasury secretary

US Treasury Secretary Janet Yellen said on Sunday that she expects the US economy to slow down in the coming months, but that a recession is not inevitable.

She offered a dose of optimism even as economists increasingly worried about a recession fueled by soaring inflation and the Russian invasion of Ukraine.

In an interview with ABC, he also talked about a possible temporary federal gas tax reduction to help give drivers some relief.

The average price of gasoline is about $5 per gallon and the tax is 18.4 cents per gallon.

“This is an idea that is certainly worth considering,” Yellen said of the proposal. She added that President Joe Biden wants to “do everything he can to help consumers.” The information is from the newspaper. The State of São Paulo.

Source: CNN Brasil