Treasury Secretary  Janet Yellen Says U.S. Economy 'Solid' and 'Deep Into Recovery' Despite Weak Job Data

U.S. Treasury Secretary Janet Yellen reassured the public that the U.S. economy remains "solid" despite weaker job reports. At the Texas Tribune Festival, Yellen stated that while hiring and job openings have slowed, there are no significant layoffs. She noted that the economy is recovering and operating near-full employment despite the cooling job growth. The Federal Reserve is expected to lower interest rates soon as it navigates a “soft landing” for the economy.