Former US Treasury Secretary Janet Yellen: The risk of the US economy falling into recession has risen

Former US Treasury Secretary Janet Yellen said on the 10th that the economic policies of the new US administration are the "most serious self-harming" behavior she has ever seen. Against the backdrop of policies such as tariffs, the risk of the US economy falling into recession has risen. In an interview with CNN on the 10th, she said that the current US government's tariff policy could increase the annual expenditure of the average American household by nearly 4,000 US dollars. In addition to the negative impact of tariffs on consumer spending, the US economy also faces a huge uncertainty shock. Yellen said, "In the face of such great uncertainty, which company will make long-term investments?" A reduction in investment spending and consumer spending is likely to trigger an economic recession. Ms Yellen emphasised that, in addition to tariffs, the current administration's cuts to public services such as the Social Security Administration and the Internal Revenue Service, as well as cuts to government programmes such as Medicaid and food relief, could hurt low-income families.