Yellen says U.S. economy being ‘resilient’, no recession in sight

WASHINGTON – U.S. Treasury Secretary Janet Yellen on Friday said the U.S. economy was proving “very resilient” in the face of a series of shocks, and she did not foresee it tipping into recession.

“I don’t expect a recession,” Yellen told CNBC.

She said inflation may have peaked in the United States, but cautioned that prices may remain elevated “for a while longer.”

(Reporting by Andrea Shalal and David Lawder; Editing by Chizu Nomiyama)