The statement is incorrect because English vowels have more than two sounds. English has five main vowel sounds: /æ/ as in "cat," /ɛ/ as in "bed," /ɪ/ as in "sit," /ɒ/ as in "dog," and /ʌ/ as in "cup." Additionally, there are also numerous diphthongs and vowel variations in different accents and dialects. Therefore, the correct answer is false.