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WASHINGTON, Sept 26 - U.S. Treasury Secretary Janet Yellen said on Thursday that labor market and inflation data suggest the U.S. economy is on a path to a"soft landing," but the"last mile" on taming inflation is bringing down housing costs.
"I always believed that there was a path to a soft landing, that it was possible to bring inflation down while maintaining a strong labor market, and to me, that's what the data suggests has happened," Yellen said.Yellen also said that U.S. deficit reduction was necessary to keep interest costs manageable over time, but added that the Biden administration believed it important to continue to invest in parts of the economy that would fuel future growth.
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