Treasury Secretary Janet Yellen has told a House panel that Russia’s actions in Eastern Europe “will have enormous economic repercussions in Ukraine and beyond.”
Treasury Secretary Janet Yellen listens during a House Committee on Financial Services hearing, Wednesday, April 6, 2022, on Capitol Hill in Washington. Yellen is telling a House panel that Russia's actions in Ukraine"will have enormous economic repercussions in Ukraine and beyond.
“The sanctions we’ve placed on Russia are pushing up the price of energy. It’s a price that’s important to pay to punish Russia for what it’s doing in Ukraine,” she added, drawing on how the conflict is impacting Americans at home.by the Federal Reserve jumped 6.4% in February compared with a year ago, the largest year-over-year rise since January 1982.
Lawmakers also questioned Yellen on China and the threat of an invasion of Taiwan as the U.S. and its allies continue to impose sanctions on Russia. She said the U.S. is prepared to impose sanctions against China if Beijing moves aggressively toward Taiwan, as some fear it might. The Indonesian government has said it would hold the G-20 Summit impartially, resisting calls to exclude Russia.
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