FILE - Department of the Treasury Secretary Janet Yellen testifies before the House Ways and Means Committee during a hearing on Proposed Fiscal Year 2023 Budget on Capitol Hill in Washington, June 8, 2022. (AP Photo/Jose Luis Magana, File)WASHINGTON (AP) — Treasury Secretary Janet Yellen on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession. The data will cover sales of new homes, consumer confidence, incomes, spending, inflation, and overall output. Two straight negative readings is considered an informal definition of a recession, though in this case economists think that’s misleading. European Central Bank President Christine Lagarde also sought to minimize recession concerns in an news conference last Thursday.
