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The Latest Breaking News from Janet Yellen

Yellen says high inflation locked in for the rest of 2022

WASHINGTON — Treasury Secretary Janet Yellen said that “unacceptably high” prices are likely to stick with consumers through 2022, and that the U.S. economy is likely to slow down.

Tribune News Service

Yellen says US recession not ‘inevitable’ but expects ‘economy to slow’

Treasury secretary says ‘inflation unacceptably high’ and it is Biden’s ‘top priority to bring it down’

The Guardian - US

Yellen: Recession not inevitable, gas tax holiday weighed

Treasury Secretary Janet Yellen says she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable

The Independent UK

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U.S. gas tax holiday is "worth considering," Janet Yellen says

"Gas prices have risen a great deal and it's clearly burdening households."

Axios

Why some of the country's top CEOs fear a recession is coming

The Fed will continue raising interest rates this week as inflation continues to soar. Some CEOs worry the fight to bring prices under control could end up sparking an economic downturn.

WEKU

India, China growing markets for shunned Russian oil

India and other Asian nations are becoming an increasingly vital source of oil revenues for Moscow as the U.S. and other Western countries cut their energy imports from Russia in line with sanctions over its war on Ukraine

The Independent UK

Former Treasury secretary warns recession is ‘more likely than not’ in next two years

Larry Summers took issue with current Treasury Secretary Janet Yellen’s assessment of recession risk

The Independent UK

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Climate crisis is ‘battering our economy’ and driving inflation, new book says

Climatenomics lays out how ‘supply chain disruptions’ has become a euphemism for the effects of climate change

The Guardian - US

Cutting tariffs on Chinese goods benefit China, U.S. and world: Chinese ministry

Removing all additional tariffs on Chinese goods would benefit China, the United States and the world, China's commerce ministry said on Thursday, after U.S. Treasury Secretary Janet Yellen said the Biden administration was looking to "reconfigure" tariffs.

Reuters

Yellen says Biden team is looking to ‘reconfigure’ China tariffs

U.S. Treasury Secretary Janet Yellen said the Biden administration is looking to “reconfigure” tariffs imposed on Chinese goods under former President Donald Trump to make them more “strategic.”

Tribune News Service

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

Stagflation

The Independent UK

Janet Yellen says US inflation at 'unacceptable levels', ASX rises but banks make big losses on rate hikes

The US Treasury secretary says North America is facing unacceptable levels of inflation. Meanwhile, the ASX regains some ground lost in yesterday's super-sized interest-rate-rise-fuelled rout, but the banks see their worst day in a year. Australian dollar rises on the RBA's super-sized interest rate increase.

ABC News

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

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The Independent UK

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

Axios

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."

The Independent UK

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

Tribune News Service

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…

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Bangkok Post

'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.

Asharq Al-Awsat

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…

Reuters

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.

Bangkok Post

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…

Tribune News Service

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.

The Guardian - US

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

Tribune News Service

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.

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