At A Senate Hearing, Yellen Testified That Growth Was "Uneven," Called Recent Jobs Reports "A Substantial Slowdown," And Said The Unemployment Rate Was Only Down Because People Have Stopped Looking For Work
Federal Reserve Chair Janet Yellen Called Recent Estimated Economic Growth "Uneven," Citing A Weak GDP Growth In The First Quarter Of This Year. FEDERAL RESERVE CHAIR JANET YELLEN: "Economic growth has been uneven over recent quarters. U.S. inflation-adjusted gross domestic product (GDP) is currently estimated to have increased at an annual rate of only 3/4 percent in the first quarter of this year. Subdued foreign growth and the appreciation of the dollar weighed on exports, while the energy sector was hard hit by the steep drop in oil prices since mid-2014; in addition, business investment outside of the energy sector was surprisingly weak." (Janet Yellen, Committee On Banking, Housing, And Urban Affairs, U.S. Senate,
Testimony, 6/21/16)
1 comment:
And the democrats will still report about how good the economy is doing! The lies, the lies!!
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