Yellen, speaking on NBC's "Meet the Press," said strong US hiring numbers and consumer spending showed the US economy is not currently in recession.
Still, data last week suggested the labor market was softening with new claims for unemployment benefits hitting their highest point in eight months. "We've seen gas prices just in recent weeks come down by about 50 cents [a gallon] and there should be more in the pipeline," she said.
Source: Financial Digest (financialdigest.net)
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