The Treasury secretary said the her rate projections reflect "current market realities."
Property owners have come under pressure due to soaring borrowing costs, raising concerns about defaults.
The former Treasury Secretary estimated that about 60% of the increase in debt from 2000 to 2022 came from tax cuts.
Seeing some easing in the labor market is “important and a good thing,” she said.
Her remarks contrasted with rising recession concerns across the Atlantic.
There was a slide in tax revenues for the month that annual household filings are due.
The current troubles are notably different than the global financial crisis more than a decade ago, she said.
Regulators intervened “because of the recognition there can be contagion in situations like this, she said.
Regulators seized the bank today in a stunning downfall for a lender that had quadrupled in size over the past five years.
Recent indicators have shown a strong start for the economy in 2023.
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