U.S. Commerce Secretary Gina Raimondo on Sunday said she wasn’t too concerned about the threat of a “serious recession,” but told business leaders to “lean in” to solve female unemployment if they’re worried about a labor shortage.
“If you’re serious about the labor shortage, lean in to making sure women can fully participate,” Raimondo said in a Sunday interview on NBC’s “Meet the Press,” Politico reported.
On ABC’s “This Week,” she expressed doubt that the U.S. would enter a “serious recession” and said the country could avoid a recession entirely, even if interest rates continue to grow, the news outlet reported.
“We recovered all the jobs since the pandemic. People’s household balance sheets are strong. Companies are doing well. Companies are hiring. Companies are growing,” Raimondo said, according to Politico.
“Inflation is our problem, and it is our top priority. And so I think perhaps a transition to a more traditional growth level, but I don’t think we should be talking ourselves into a recession.”
The consumer price index rose nearly 9% in June over a year earlier, to a four-decade high, Bloomberg reported Saturday, adding that the Fed may boost interest rates yet again later this month.