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The Latest Breaking News from Janet Yellen

Janet Yellen warns inflation is likely to stay high

Treasury Secretary Janet Yellen told US lawmakers peppering her Tuesday with questions about the surge in the cost of living that inflation is likely to stay high and that she ought not to have termed big price increases as “transitory” last year.

Tribune News Service

Janet Yellen tells Congress US faces ‘unacceptable levels of inflation’

Treasury secretary admits she regrets describing inflation as ‘transitory’ and says it is ‘top economic problem at this point’

The Guardian - US

Yellen: inflation to 'remain high;' hopes it's 'coming down'

Treasury Secretary Janet Yellen has acknowledged that she and Federal Reserve Chair Jerome Powell “could have used a better word” than transitory when describing the expected run of inflation in the U.S. economy

The Independent UK

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Yellen says U.S. faces "unacceptable levels" of inflation

Yellen made waves last week by admitting that she had been "wrong about the path inflation would take."

Axios

Treasury Secretary Yellen says US faces ‘unacceptable levels of inflation’

Yellen says president’s proposed spending legislation could help lower costs for Americans, including for prescription drugs and clean energy initiatives

The Independent UK

Ramesh Ponnuru: The Fed risks future pain if it fails to curb inflation today

A consensus has formed that the Federal Reserve waited too long to start tightening money. Ben Bernanke, the former Fed chairman, has said so. Janet Yellen, another former chairman who now serves as Treasury secretary, has implicitly agreed, saying that she, like many other observers, underestimated how high inflation would…

Tribune News Service

'Friend-Shoring' Might Be Bad for Global Growth and Inflation

As geopolitical tensions rise, Western governments have urged international companies to shift more business to friendly countries. Some critics think that could split the global economy into hostile camps, hurting growth and worsening inflation.

Bangkok Post

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Russia Sanctions US Treasury and Energy Secretaries, Defense and Media Executives

Russia has imposed personal sanctions on 61 US officials including Treasury Secretary Janet Yellen and Energy Secretary Jennifer Granholm and leading defense and media executives, the Russian foreign ministry said on Monday. The ministry said it had imposed personal sanctions, which ban those named from entering Russia, in retaliation for…

Asharq Al-Awsat

Russia sanctions U.S. Treasury and energy secretaries, defence and media executives

Russia has imposed personal sanctions on 61 U.S. officials including Treasury Secretary Janet Yellen and Energy Secretary Jennifer Granholm and leading defence and media executives, the Russian foreign ministry said on Monday.

Reuters

How the West should engage China

The world order is at risk of a lasting split, with the United States and its allies on one side, and China and its partners on the other. As US Treasury Secretary Janet Yellen noted at an Atlantic Council event last month, this outcome is far from desirable, and the…

Bangkok Post

Yellen denies urging smaller Biden relief plan in early 2021

WASHINGTON — Janet Yellen denied advocating for a smaller American Rescue Plan than the $1.9 trillion package proposed by the Biden administration and passed by Congress in early 2021, after an advance copy of a book about the Treasury secretary showed she initially urged scaling it back by a third.

Tribune News Service

Biden commerce secretary shifts blame for inflation on to Russia’s war in Ukraine

Gina Raimondo’s comments seen as part of a White House push to deflect blame for nation’s economic troubles away from Biden

The Guardian - US

Yellen wanted Biden relief plan scaled back, biographer says

WASHINGTON — Janet Yellen, worried by the specter of inflation, initially urged Biden administration officials to scale back the $1.9 trillion American Rescue Plan by a third, according to an advance copy of a biography on the Treasury secretary.

Tribune News Service

To avoid ‘historic shellacking’ in midterms, Biden is promoting a sunny view of US economy

Much of America does not seem to be buying the optimistic vision that Biden and his team are selling

The Guardian - US

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Los Angeles Times

News analysis: Biden, who ran on competency and experience, is struggling to manage multiple crises

WASHINGTON — President Joe Biden's virtual meeting Wednesday with industry executives in the South Court Auditorium, a soundstage in the hulking office building adjacent to the White House, was held to highlight the administration's response to the ongoing infant formula shortage.

Tribune News Service

Karl W. Smith: Biden’s economic hubris gives way to humility

Treasury Secretary Janet Yellen has finally admitted how badly she underestimated the inflationary threat last year. Although President Joe Biden himself continues to insist the economy is better than it looks, even he acknowledges that Americans won’t view the economy more favorably until rising prices are tamed.

WEKU

Treasury Secretary Janet Yellen says she was wrong about the risks of inflation

Treasury Secretary Janet Yellen tells CNN she was wrong about the trajectory of inflation during interviews a year ago.

Axios

Treasury Secretary Janet Yellen: "I was wrong about the path inflation would take"

"There have been unanticipated and large shocks to the economy that have boosted energy and food prices," she told CNN.

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Tribune News Service

Yellen says ‘I was wrong’ last year on the path of U.S. inflation

Treasury Secretary Janet Yellen gave her most direct admission yet that she made an incorrect call last year in predicting that elevated inflation wouldn’t pose a continuing problem.

The Independent UK

Russia offers foreign debt payment system similar to gas one

Russia says it will use an arrangement similar to that used for payments for its gas supplies to pay its dollar-denominated foreign debts

Tribune News Service

Window closing for US to implement global corporate tax deal

With midterm elections fast approaching, Democrats’ window to follow through on the Biden administration’s plan for rooting out tax havens and raising taxes on global companies’ foreign profits may be closing.

Roll Call

Window closing for US to implement global corporate tax deal - Roll Call

Democrats’ window for rooting out tax havens and raising taxes on global companies’ foreign profits may be closing.

The Independent UK

Worry about stagflation, a flashback to '70s, begins to grow

Stagflation

WEKU

Women who are denied abortions risk falling deeper into poverty. So do their kids

A large body of research shows being denied an abortion limits women's education, time in the workforce and wages. It also finds long-term negative impacts for their children.

WEKU

Here's how much it could cost to rebuild Ukraine — and who would pay for it

History has many lessons to offer on how much it will cost to rebuild Ukraine, and how it can be done to help set the country up for a more prosperous and safe future.

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