Treasury Secretary Janet Yellen has expressed concerns about China’s economic slowdown and its potential impact on the global economy.

In an interview with Bloomberg during her visit to India for the G20 finance minister meeting, Yellen acknowledged that many countries, particularly in Asia, rely on strong Chinese growth to promote their own economies. She highlighted that slow growth in China could have negative spillover effects on the United States.

However, Yellen reassured that despite the global challenges, the U.S. is on a “good path.” She emphasized that although growth has slowed, “our labor market continues to be quite strong — I don't expect a recession.”

Yellen also expressed confidence in the ability to bring inflation down without significantly weakening the labor market.