Remarks by Secretary of the Treasury Janet L. Yellen at Press Conference Ahead of the G7 Finance Ministers and Central Bank Governors Meetings

As Prepared for DeliveryThank you to Italy for its leadership throughout this year and to Minister Giorgetti and his team for hosting us this week. And thank you to all of you for being here.As we gather, America’s strong economic performance continues to serve as a key engine for resilient global economic performance. The Biden Administration has driven a historically fast and inclusive economic recovery and is now focused on driving progress on our medium- and long-term economic agenda. U.S. GDP growth over the past year has been strong. Our labor market is healthy. And inflation has come down significantly from its peak, though we continue to take action to address the high costs of key household expenses.