US Treasury Sec. Yellen: We are creating jobs at a very rapid pace
|US Treasury Secretary Janet Yellen said on Thursday that a significant share of remaining inflation represents housing costs returning to normal slowly, per Reuters.
Key takeaways
"We are creating jobs at a very rapid pace."
"Unemployment rate has drifted up a little bit, the labor market has become a little less hot, a little more normal."
"Labor market is now resembling pre-pandemic."
"Wages are not a threat to contribute to inflation."
"Substantial lock-in effect is limiting supply of homes on the market."
Market reaction
The US Dollar Index showed no reaction to these comments and was last seen gaining 0.25% on the day at 104.95.
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