Treasury Secretary Janet L. Yellen told senators Tuesday the end of federal abortion protections would have damaging economic consequences for women and their participation in the workforce.
Yellen appeared before the Senate Banking Committee to testify on the Financial Stability Oversight Council’s annual report on systemic risks to the financial sector. In response to a question from Sen. Bob Menendez, D-N.J., she spoke about the potential economic impact if the Supreme Court strikes down Roe v. Wade. A draft opinion published by Politico last week indicated the court has the votes to do so.
“I believe that eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades,” Yellen said. “Denying women access to abortion increases their odds of living in poverty or need for public assistance.”
