United States Treasury Secretary Janet Yellen will reiterate on Tuesday that the global economy is in a better place than initially expected. "Prices of commodities like food and energy have stabilized. Supply chain pressures continue to ease," she noted in prepared remarks ahead of her press conference in Washington.
Commenting on the US economy, Yellen claimed that the country's labor market remains strong and that there are welcoming signs inflation has moderated despite still being "too high." At the same time, she acknowledged risks coming from post-pandemic effects and Russia's invasion of Ukraine.
The speech, seen and cited by Axios, is expected to open the annual spring meetings of the World Bank and the International Monetary Fund. IMF's head Kristalina Georgieva warned last week the world will see the weakest economic growth since the 1990s, contrasting Yellen's positive attitude.
