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The Latest Breaking News from Janet Yellen

President Biden nominates 1st Native American US treasurer

A Native American has been nominated to be U.S. treasurer, a historic first

The Independent UK

Yellen Says US in Talks with Allies to Cap Russian Oil Price

The United States is in talks with allies to further restrict Russia's oil revenues by capping the price it would get for its crude, US Treasury Secretary Janet Yellen said during a visit to Canada on Monday. "We are continuing to have productive conversations with our partners and allies around…

Asharq Al-Awsat

Yellen, Canada's Freeland present united front on Ukraine, economic challenges

U.S. Treasury Secretary Janet Yellen met with Canadian Finance Minister Chrystia Freeland on Monday, pledging cooperation on issues ranging from sanctions against Russia to increasing energy production and strengthening supply chains.

Reuters

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Heathrow asks airlines to cancel 10% of flights, as easyJet cuts summer schedule – as it happened

UK travel chaos deepens

The Guardian - UK

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

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

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The Independent UK

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

Stagflation

ABC News

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.

Tribune News Service

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.

The Guardian - US

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’

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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…

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.

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