U.S. Treasury Secretary Janet Yellen insisted that not all recessions are alike and that it might be possible to bring down inflation while maintaining full employment. The usual view that two quarters of negative growth indicates a recession “has typically worked,” Yellen said to reporters on June 21 when asked about how she would measure…

President Joe Biden is reviewing Washington’s tariff policy toward China, U.S. Treasury Secretary Janet Yellen said on Sunday, signaling the end of some Trump-era tariffs amid record-high inflation. “We all recognize that China engages in a range of unfair trade practices that it’s important to address. But the tariffs we inherited, some serve no strategic…

Russia’s attack on Ukraine is creating a global food crisis, U.S. Treasury Secretary Janet Yellen said during a meeting on food insecurity with representatives from the International Monetary Fund (IMF), the International Fund for Agricultural Development (IFAD), and the World Bank. Even before the Russia–Ukraine war, more than 800 million people, representing 10 percent of…

U.S. Treasury Secretary Janet Yellen criticized China for its dubious stance on Russia’s war against Ukraine in remarks where she outlined a “way forward” for the global economy. Beijing recently affirmed having a “special relationship” with Russia which Yellen hopes might play a role in ending the ongoing war, according to an April 13 press…

Reducing the tariffs on imported goods from China, imposed in 2018 by President Trump, through a revived exclusion process could help lower inflationary pressures on the economy, said U.S. Treasury Secretary Janet Yellen on Thursday at the Reuters Next conference. “This is a process by which tariffs can be lowered. And I think that that…

WASHINGTON—The Federal Reserve during Jerome Powell’s second term as chair will have an important role to play over the longer term to ensure that inflation does not become “endemic,” Treasury Secretary Janet Yellen told CNBC on Monday. Yellen said she believed Powell’s nomination and that of Lael Brainard as vice chair would win broad support…

Senate Minority Leader Mitch McConnell (R-Ky.) told Secretary of Treasury Janet Yellen during a phone call that he will not change his decision to not raise the debt limit, saying he opposes the recklessness of the $3.5 trillion budget reconciliation bill and Democrats can do it alone. “The leader repeated to Secretary Yellen what he has…