U.S. Secretary of the Treasury Janet Yellen speaks listens to a presentation during a tour at the IRS Processing Facility on September 06, 2024 in Austin, Texas.
Treasury Secretary Janet Yellen sought to reassure the public on Saturday that the U.S. economy remains strong, despite a string of weak job reports that have rattled investors and weighed on the stock market.
"We're seeing less frenzy in terms of hiring and job openings, but we're not seeing meaningful layoffs," Yellen said at the Texas Tribune Festival in Austin.
Yellen said the U.S. is on that path: "It really has been amazing to be able to get inflation down as meaningfully as we have.
This is what most people would call the soft landing," she said.
Persons:
Janet Yellen, Yellen, Nonfarm, Dow Jones
Organizations:
IRS, Texas Tribune, of Labor Statistics, Dow, Federal Reserve
Locations:
Austin , Texas, U.S, Austin