(Reuters) - There will be a substantial reduction in U.S. inflation in 2023, U.S. Treasury Secretary Janet Yellen told CBS' '60 Minutes' in an interview released on Sunday.
"I believe by the end of next year you will see much lower inflation if there's not-- an unanticipated shock," she said.
Asked about the likelihood of recession, she said:
"There's a risk of a recession. But-- it certainly isn't, in my view, something that is necessary to bring inflation down."
(Reporting by Costas Pitas and Andrea Shalal; Editing by Daniel Wallis)
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