Janet Yellen: Data Suggests We’re on a Path to Soft Landing

LIESMAN If you don ░░░░░░░░ mind let s shift ░░░░░░░░ talk about the economy ░░░░░░░░ revisions to GDP this ░░░░░░░░ told us we didn ░░░░░░░░ have two negative quarters ░░░░░░░░ 2022 Generally upward gross ░░░░░░░░ income came towards GDP ░░░░░░░░ is Yellen Yes LIESMAN ░░░░░░░░ a kind of thing ░░░░░░░░ for the wonks and ░░░░░░░░ of us here Broadly ░░░░░░░░ you see us heading ░░░░░░░░ a soft landing and ░░░░░░░░ you feel like inflation ░░░░░░░░ sufficiently under control Yellen ░░░░░░░░ I do I think ░░░░░░░░ all of the indications ░░░░░░░░ re seeing both in ░░░░░░░░ labor market with respect ░░░░░░░░ inflation and with respect ░░░░░░░░ growth suggest we re ░░░░░░░░ a path to a ░░░░░░░░ landing And of course ░░░░░░░░ are always risks We ░░░░░░░░ seeing a less tight ░░░░░░░░ market and some growing ░░░░░░░░ little bit more slack ░░░░░░░░ the labor market that ░░░░░░░░ had previously The unemployment ░░░░░░░░ has drifted up still ░░░░░░░░ by historical standards But ░░░░░░░░ this is going to ░░░░░░░░ out to be a ░░░░░░░░ situation with the Fed ░░░░░░░░ continued strength in the ░░░░░░░░ market And inflation has ░░░░░░░░ down considerably The last ░░░░░░░░ on inflation involves housing ░░░░░░░░ and I believe there ░░░░░░░░ good reason to think ░░░░░░░░ they will fall Market ░░░░░░░░ have declined considerably And ░░░░░░░░ the lag I think ░░░░░░░░ ll see housing costs ░░░░░░░░ further And that ll ░░░░░░░░ the Fed to its ░░░░░░░░ percent target So I ░░░░░░░░ said for a long ░░░░░░░░ I always believed that ░░░░░░░░ was a path to ░░░░░░░░ soft landing that it ░░░░░░░░ possible to bring inflation ░░░░░░░░ while maintaining a strong ░░░░░░░░ market And to me ░░░░░░░░ s what the data ░░░░░░░░ has happened.”