Expects Fed to hit 2% inflation target next year (Il Sole 24 Ore Radiocor) - New York, 25 Jun - Treasury Secretary Janet Yellen said she does "not see the basis" for a US recession and expects the Federal Reserve to hit its 2% inflation target next year.

"I do expect inflation to come down, and as we get into next year I believe that inflation will go back to the Fed's 2% target," Yellen said in an interview with Yahoo Finance.

In the so-called "dot plot" last week, Fed policymakers estimated inflation would return to 2% in 2026 with just one rate cut this year amid stubborn inflation.

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(RADIOCOR) 25-06-24 14:12:41 (0428) 5 NNNN