Treasury Secretary Janet Yellen warned a House panel Wednesday that Russia’s aggression in Eastern Europe will have "enormous economic repercussions in Ukraine and beyond.”
“Globally, spillovers from the crisis are heightening economic vulnerabilities in many countries that are already facing higher debt burdens and limited policy options as they recover from COVID-19," Yellen said in remarks prepared for delivery to the House Financial Services Committee. They were part of her annual testimony on the state of the international financial system.
