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© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen makes a speech about the current and future state of the U.S. and global economy at the Atlantic Council in Washington, U.S., April 13, 2022. REUTERS/Leah Millis/File Photo WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday said the U.S. economy was proving “very resilient” in the face of a series of shocks, and she did not foresee it tipping into recession.

“I don’t expect a recession,” Yellen told CNBC.

She said inflation may have peaked in the United States, but cautioned that prices may remain elevated “for a while longer.”