Treasury Secretary Janet Yellen said it’s too soon to tell what economic impact there my be from the strike in the US automobile industry.
“It’s premature to forecast what it means for the economy,” Yellen said Monday in an interview with CNBC. “It depends on how long the strike lasts.”
Yellen said the Biden administration is expecting that the United Auto Workers union and the carmakers will be negotiating “24/7” to get a solution. “The two sides need to narrow their disagreements” and work for a “win-win” deal, she said.
The Treasury also said that, overall, the labor market is in a “healthy” condition, but is softening somewhat.
