BLUF:On Wednesday, the Dow Jones Industrial Average dropped more than 700 points and the yield on U.S. 30-year Treasury bonds fell to a record low, sparking fears of an imminent recession. Yet Janet Yellen, former Federal Reserve chairwoman under President Barack Obama, said it is unlikely the U.S. economy is headed into a recession soon.
When asked if the U.S. economy was headed into a recession, she said, "I think the answer is most likely no."