By David Lawder NEW YORK (Reuters) - U.S. Treasury Secretary Janet Yellen told Reuters that a
"soft-landing" scenario for the U.S. economy can withstand near-term risks including a United Auto WorkersSaltWire's Atlantic regional weather forecast for September 19, 2023 | SaltWireNEW YORK - U.S. Treasury Secretary Janet Yellen told Reuters that a"soft-landing" scenario for the U.S.
The Federal Reserve on Tuesday starts a two-day meeting to weigh its options in its aggressive campaign of rate hikes to contain inflation as economists say the auto strike, the potential for a government shutdown and the Oct. 1 end of a three-year moratorium on student loan repayments all could conspire to cool the economy more quickly than expected.
President Joe Biden's administration is working to encourage both sides to resolve the strike quickly, Yellen said. "It’s an unnecessary risk to the economy and to the normal functioning of government," Yellen said, adding there was bipartisan support in the U.S. Senate for adhering to the $1.59 billion fiscal 2024 discretionary spending limit agreed in June.
"There have been periods in which liquidity has been a bit more strained. But nothing that is really out of line with what you would expect given the volatility in the underlying market," Yellen added.
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