Yellen: Workers Gaining Ground Despite Lingering Economic Worries

Treasury Secretary Janet Yellen says American workers are getting ahead as their pay grows faster than inflation.
Inflation has cooled since peaking in June 2022, thanks to Federal Reserve interest rate hikes and other factors.
The U.S. economy has defied predictions of a recession, with strong growth, consumer spending, and low unemployment.
Many Americans still struggle with high costs of living, like childcare, education, housing, and feel economic anxiety.
Yellen believes the odds of a recession are very low, expects inflation to keep dropping, and sees signs of cooling housing costs.