Even with inflation cooling down, there's still a 'risk of recession' since the Fed keeps hiking interest rates, Janet Yellen says

• The Federal Reserve is expected to raise interest rates again this week.
• Treasury Sec. Janet Yellen said given the continued hikes, the "risk of recession" persists.
• Some Democratic lawmakers have urged the Fed to cease the hikes to avoid a severe economic downturn.

The economy is moving in the right direction — but it doesn't mean a 2023 recession is off the table, the top Treasury official said.