Austin, Texas – Treasury Secretary Janet Yellen reassured Americans during a visit to Austin that the U.S. economy remains stable and is on track for a “soft landing” with no significant layoffs expected. Yellen highlighted the continued health of the labor market, despite a slower pace of hiring.

Yellen emphasized the importance of modernizing the IRS to ensure fair tax collection and efficient government operations. She also discussed the resilience of the U.S. economy in the face of challenges, noting that the latest jobs report, though disappointing, does not change the overall positive outlook for the country.

Despite concerns about the pace of hiring, Yellen remains optimistic about the future, citing a strong and healthy labor market. She pointed out that the current economic indicators do not signal any immediate cause for alarm, reaffirming her confidence in a smooth transition to a “soft landing.”

Yellen’s comments come amidst ongoing efforts to navigate the economic impact of the COVID-19 pandemic and other global challenges. As the U.S. continues to recover and adapt to changing conditions, Yellen’s reassurances provide a sense of stability and confidence in the country’s economic resilience.

Overall, Yellen’s visit to Austin served as an opportunity to address key economic issues and reassure the public of the government’s commitment to maintaining a strong and stable economy. Her insights and commentary shed light on the current state of the U.S. economy and the measures being taken to ensure continued growth and prosperity.