Yellen says chance of recession has ‘gone down,’ but U.S. needs slowdown in consumer spending to control inflation

That line on the chances for a U.S. recession came Thursday from Treasury Secretary Janet Yellen, as she spoke to Bloomberg News on the sidelines of a conference in Paris.

“I’m not going to say it’s not a risk, because the Fed is tightening policy,” she added, referring to the Federal Reserve’s series of interest-rate increases, which is expected to resume later this year after the central bank skipped on hiking rates last week.