U.S. Treasury Secretary Janet Yellen responded to one of Cardi B’s Twitter posts during an interview with financial journalist Andrew Ross Sorkin.
Yellen spoke with Sorkin at the New York Times’ DealBook D.C. policy forum on Thursday (June 9). Cardi B became a topic of conversation when Sorkin brought up a tweet she wrote on Sunday (June 5).
“When y’all think they going to announce that we going into a recession?” Cardi B inquired via Twitter.
Sorkin asked Yellen if she was familiar with the rapper.
“I don’t have that much time for her, but I am alive,” the economist said.
Sorkin then sought a response to Cardi B’s question. Yellen downplayed concerns about a recession.
“Don’t look to me to announce it,” she said. “I’m not going to announce it. I don’t think we’re going to have a recession.”
Yellen added, “Consumer spending is very strong. Investment spending is solid. I expect growth to slow down.”
While Yellen’s answer might be reassuring to people worried about the state of the economy, she admitted was wrong about inflation. She previously called it “transitory,” but inflation persists for American consumers.
Watch Yellen discuss Cardi B’s Twitter question about a recession below.
.@SecYellen says she knows who @iamcardib is and responds to one of her most pressing questions. pic.twitter.com/kyiC5Jag6K
— DealBook (@dealbook) June 9, 2022