President Joe Biden’s $1.9 trillion American Rescue Plan did contributed to inflation, Treasury Secretary Janet Yellen conceded on Wednesday. Speaking in an interview with Matt Murray, editor-in-chief of The Wall Street Journal, the former head of the Federal Reserve admitted that the White House’s enormous spending had played a role in today’s inflationary environment, adding…
Janet Yellen: Biden’s Spending ‘Did Feed’ Inflation
May 5, 2022
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Business & EconomyeconomyExecutive BranchFedinflationJanet YellenPoliticsThe Federal ReserveUSUS Features
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Yellen to Host Washington Summit on Global Food Crisis
U.S. Treasury Secretary Janet Yellen is hosting a summit in Washington next week meant to address the impact of rising food costs. The meetings, scheduled for the week of April 18, will include financial leaders from around the world, with representatives from the leading industrial nations of the G-7 and G-20 as well as heads…
Janet Yellen Delivers Remarks Addressing Cryptocurrency
U.S. Secretary of Treasury Janet Yellen spoke on Thursday about the growing market for cryptocurrency assets, speaking optimistically about the financial innovations of the blockchain while also cautioning that such developments must be regulated to protect consumers and the economy. During Thursday’s remarks, Yellen emphasized “responsible innovation” as the key feature of the Department of…
Ukraine Crisis Likely to Slow Global Economic Growth, Yellen Says
March 27, 2022
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Business & Economycommoditieseconomic policieseconomygas pricesinflationJanet YellenMarketsRussia-Ukraine crisis
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WASHINGTON—The Russia–Ukraine crisis is driving up commodities prices and is likely to reduce prospects for global growth in the coming year, U.S. Treasury Secretary Janet Yellen warned on Friday. Ukraine is a major global supplier of wheat and corn, and prices have surged since Russia invaded its Eastern European neighbor last month. “We are seeing…
Yellen Says Ukraine War Fallout Means Inflation Likely ‘Very Uncomfortably High’ All Year
Treasury Secretary Janet Yellen said Thursday that economic uncertainty driven by the Ukraine war means Americans should brace for inflation to remain “uncomfortably high” throughout the year. Yellen made the remarks on CNBC’s “Closing Bell” program, responding to a question whether the crisis in Ukraine had led her to revise her earlier projections for inflation to…
Yellen Says Treasury to Curb Wealth of Russian Oligarchs Over Ukraine War
March 4, 2022
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Business & Economycurb wealth of Russianeconomic policieseconomyEuropeJanet YellenMarketsRussia-Ukraine WarRussianU.S. treasury secretaryWorld
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CHICAGO—Treasury Secretary Janet Yellen said on Wednesday that the United States and Western allies have immobilized half of the assets of the Russian central bank and will continue to impose “severe consequences” on Russian President Vladimir Putin and the wealthy oligarchs who support him if he escalates his war in Ukraine. Yellen, speaking in Chicago…
Yellen Tells EU’s Dombrovskis ‘Further Strong Measures’ Needed on Russia: Treasury
WASHINGTON—U.S. Treasury Secretary Janet Yellen on Tuesday told European Commission Executive Vice President Valdis Dombrovskis that cooperation was needed on “further strong measures” in response to Russia’s invasion of Ukraine after unprecedented sanctions, the U.S. Treasury said. “Secretary Yellen affirmed the United States’ support for Ukraine’s sovereignty, working together with our partners to hold Russia…
Yellen to Participate Remotely in February G20 Meeting
WASHINGTON—U.S. Treasury Secretary Janet Yellen will participate in a February meeting of the G20 remotely because of a rise in the Omicron variant of the coronavirus, the U.S. Treasury Department said in a statement. The secretary will attend virtual sessions with her counterparts as well as hold bilateral meetings to discuss the world economy, taxation…
Yellen Says Fed, Biden Administration Will Take Steps to Control Inflation
WASHINGTON—U.S. Treasury Secretary Janet Yellen said on Thursday she was confident the Federal Reserve and the Biden administration would take steps needed to bring down inflation over the course of 2022, provided the COVID-19 pandemic is brought under control. “Inflation rose by more than most economists, including me, expected and of course it’s our responsibility…
Treasury’s Yellen Vows Big Push Against Corruption, New ‘Kleptocracy Fund’
WASHINGTON—The U.S. Treasury Department must play a major role in combating corruption at home and abroad, Treasury Secretary Janet Yellen told President Joe Biden’s democracy summit on Thursday, unveiling a new “kleptocracy fund” to reward tips on where corrupt foreign leaders hid their money in the United States. She said the Treasury was working to…
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