Banking turmoil will help the Fed fight inflation but won't trigger a recession, Janet Yellen says

• Janet Yellen said the banking turmoil will help the Fed fight inflation but won't trigger a recession. 
• Banks tightening lending standards amid the sectoral instability could reduce the need for further interest-rate hikes, the Treasury Secretary said. 
• She told CNN her "outlook remains one for moderate growth and continued strong labor market with inflation coming down." 

Treasury Secretary Janet Yellen said the recent turmoil in the banking sector could end the need for further interest-rate hikes and help the Federal Reserve fight inflation without tipping the US economy into a recession.