Yellen: We’ve Got a ‘Strong Economy,’ Households Are in ‘Very Good Financial Shape’

EISEN: “Yeah. And I guess I’m just wondering if the economy continues to hold up no matter what happens on the Fed.”
Yellen: “I think we have a good, strong economy. We have very strong domestic demand. Consumers are holding up. Some low-income consumers are perhaps exhausting their buffers of saving that they built up during the pandemic. We are seeing a little bit more distress at the household level there. But, generally, households are in very good financial shape. Our financial system is generally quite strong. Things can always happen. There is always recession risk. Geopolitical developments could create risk to our economy. But I think we’ve got a good, strong economy that’s on a solid track.”