US Treasury Sec. Yellen: ‘So far, so good’ in US inflation battle
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In an exclusive interview with CNN News on Monday, US Treasury Secretary Janet Yellen expressed her take on the inflation and economic outlook.
“I would say, ‘So far, so good,’” referring to the US inflation battle.
“Obviously there are risks, and the global situation we face is very uncertain.”
“There can be shocks from it. But look, inflation still is too high, but generally if you look over the last year, inflation has been coming down. And I know the Fed is committed to continuing the process of bringing it down to more normal levels, and I believe they’ll be successful with it.”
“The extraordinary measures undertaken by the Treasury Department to delay breaching the debt ceiling will help pay the government’s bills until at least early June.”
“Congress has to stand up and say they’re committed to having the government pay the bills that are due.”
“We will see an increasing toll on Russia’s economic trajectory over time.”
“And their ability to replenish the military equipment that’s been destroyed in their attacks on Ukraine, that’s been very greatly jeopardized.”
“We have been extremely clear that we will not tolerate systematic violations by any country of the sanctions that we have put in place that are intended to deprive Russia of access to military equipment to wage this war.”
“And we have been very clear with the Chinese government and have made clear to Chinese firms and financial institutions that the consequences of violating those sanctions would be very severe.”
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