Yellen Says Economy Performing Well, Inflation Will Ebb

Treasury Secretary Janet Yellen said Thursday the U.S. economy “continues to perform very, very well” and that she still sees inflation falling back to more normal levels.

“The U.S. economy continues to perform very, very well,” Yellen said in an interview with Reuters as she cited “peculiar but not concerning” reasons for data earlier on Thursday that showed the U.S. economy grew at its slowest pace in nearly two years last quarter.

Yellen added that she also expects housing inflation to ebb as the year progresses.

“The fundamentals here are in line with inflation continuing back down to normal levels,” Yellen said.