US Treasury Secretary Janet Yellen Highlights Strength in Consumer and Investment Spending, GDP Data; Notes Robust Economic Growth and Downward Path for Inflation

US Treasury Secretary Janet Yellen emphasizes the strength in consumer and investment spending as indicated by GDP data. Yellen sees considerable strength in the underlying core drivers of economic activity, with the US economy showing robust growth. She notes the possibility of revisions to GDP data and highlights that wage pressures are not a source of inflation. Yellen mentions a strong job market and expresses that the US economy is not overheated. Additionally, she points out that the US economy continues to perform well, while inflation is on a downward path. Yellen also mentions the Fed's focus on the US economy and the need for sustainable evidence of a decline in inflation.