During an interview with WBUR’s “Here and Now” on Thursday, Treasury Secretary Janet Yellen stated that people “tend to be pretty positive” about their own economic situations and “some of the concerns that they express have to do more with their neighbors and the economy as a whole.” She also stated that “people are acting as though they feel okay about their own situations, but are worried about the economy.”
Yellen said, “I think when people are asked about their own situation, they tend to be pretty positive about it and some of the concerns that they express have to do more with their neighbors and the economy as a whole. And if you actually look at their spending patterns, spending has really been quite strong. And so, people are acting as though they feel okay about their own situations, but are worried about the economy. We lived through a period of high inflation, and I think it’s going to take a little while before people feel confident that that’s over and that they’ll be systematically getting ahead. And we’re seeing the beginnings in surveys and I hope and believe that that will continue to improve.”
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