Economics
Yellen Says Ukraine War Brings Uncertainty for Global Economy
- U.S. financial system has kept functioning in orderly manner
- Treasury chief outlines annual FSOC report in testimony
This article is for subscribers only.
Treasury Secretary Janet Yellen highlighted continuing dangers to the global economy from Russia’s invasion of Ukraine and the pandemic, in prepared remarks to lawmakers on an annual financial-risk report.
“There is the potential for continued volatility and unevenness of global growth as countries continue to grapple with the pandemic,” Yellen said in the text of remarks released Monday by the Treasury Department. “Russia’s unprovoked invasion of Ukraine has further increased economic uncertainty.”