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Yellen Says Supply-Chain Shift May Need Protectionist-Like Steps

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Janet Yellen
Janet Yellen

Photographer: Greg Nash/The Hill/Bloomberg

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Treasury Secretary Janet Yellen said that U.S. reliance on foreign supply chains has proved a vulnerability and that the country needs to produce more critical goods domestically in order to protect both its economic and national security.

“It’s possible that policies that people will describe as protectionist are going to be necessary in order to create the appropriate incentives to produce things at home,” Yellen said in an interview recorded on Monday for an online conference hosted by the Financial Times. She didn’t offer further specifics on the potential measures she envisioned.