Treasury Secretary Janet Yellen stated in an interview with CNBC that” some low-income consumers are perhaps exhausting their buffers of saving [s ] that they built up during the pandemic, we’re seeing a little bit more distress at the household level there.” But despite that, “we’ve got a good, solid business” with “very robust domestic need” that is “on a strong track” and “generally, households are in very fine financial shape”.
Sara Eisen, a CNBC network, said,” I guess I’m just wondering if the market continues to hold up, regardless of what happens with the Fed.”
Yellen responded,” I think that we’ve got a great, solid business. We’ve got pretty strong local demand. Customers are stifling. Some low-income users may be using up their buffer of savings that they built up during the pandemic, but there is a little more stress at the home level. But, generally, communities are in very excellent financial shape. Our economic system is typically pretty robust. I do n’t — things can always happen. There’s always crisis danger. Our business may be in danger as a result of political developments. But I think we’ve got a good, solid business that’s on a good track”.
Following Ian , Hanchett on Twitter , @IanHanchett
