Treasury Secretary Testifies Before HFSC on State of Global Financial System
On April 6, Treasury Secretary Janet Yellen testified before the House Financial Services Committee (HSFC) in a hearing entitled, “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System.” In her testimony, Yellen expressed support for U.S. sanctions against Russia amid the war in Ukraine. Yellen specifically highlighted the importance of the role of international financial institutions such as the International Monetary Fund and the World Bank in strengthening the Russian sanctions and limiting the economic fallout for the rest of the world. Additionally, Yellen focused on the repercussions of the war on rising inflation and prices of energy and food. Read more.