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U.S. Treasury Secretary Janet Yellen said on Friday that the U.S. economy is on a path to maintain a strong labor market while reducing inflation, even if the economy cools a bit more. Yellen said in prepared remarks at a residential solar power company in New Orleans that strong household and business balance sheets will serve as a source of U.S. economic strength along with a continuing surge in U.S. factory construction. Yellen, who is making a campaign-style visit to New Orleans to tout President Joe Biden's economic agenda, said that the U.S. economy has defied persistent predictions of recession this year, proving more resilient than expected.