In a statement prepared for a news conference, U.S. Treasury Secretary Janet Yellen highlighted the stronger-than-expected U.S. economic growth that has been driving the global economy. She emphasized that the U.S. labor market is in good shape and inflation has decreased significantly, but there is still more progress to be made.

Yellen expressed confidence in the continued support of the U.S. economy for global growth, but also acknowledged that the global recovery has been uneven, with lingering risks. She noted President Biden’s commitment to ending American isolationism and emphasized the importance of engaging with the world to address short-term risks and promote long-term sustainable growth.

Yellen will be discussing these issues further at the upcoming spring meetings of the International Monetary Fund and World Bank, where she will meet with officials from various countries including China, South Korea, Japan, and Britain. These discussions are aimed at ensuring ongoing efforts to mitigate risks and support sustainable growth on a global scale.