US Treasury Secretary Yellen: Increase in low labor force participation could take some pressure off inflation
|“I believe there is a path to bringing down inflation while maintaining a strong labor market,” said US Treasury Secretary Janet Yellen per Reuters.
Additional comments
Traditional recession measure of two consecutive quarters of negative growth 'has typically worked' but recessions aren't all alike.
Most economists do not believe the US will enter recession because they are taking into account unique post-pandemic economic features.
To my knowledge, cutting US tariffs on Canadian lumber is not being considered by Biden as part of tariff relief deliberations.
Market reaction
The news fails to gain any major attention from the market during the generally inactive early Asian session. That said, AUD/USD remains sidelined around 0.6970 while the S&P 500 Futures track Wall Street’s gains.
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