Yellen Optimistic About US Economy Despite Challenges; Sees AI Boosting Growth While Urging Ukraine Aid

Yellen expressed optimism for the US economy despite high inflation, interest rates, and geopolitical conflicts. She cited the strong labor market and resilient consumer.

Yellen believes the U.S. achieved a soft landing with inflation coming down and a strong job market intact. She thinks the Fed may keep interest rates higher for longer as a result.

Yellen sees potential for AI tech like generative AI to boost productivity growth, though cautions it may not be immediate. She believes recent legislation will spur investment and growth.

Yellen defends U.S. moves toward industrial policy in semiconductors and clean energy as necessary for national security and reducing dependence on China.

Yellen says it's urgent Congress allocate Ukraine aid funds. She declines to weigh in on Speaker McCarthy's political fate.