U.S. Treasury Secretary Janet Yellen makes a speech concerning the present and future state of the U.S. and world economic system on the Atlantic Council in Washington, U.S., April 13, 2022. REUTERS/Leah Millis
WASHINGTON, April 13 (Reuters) – World financial development will take successful from Russia’s conflict in Ukraine, U.S. Treasury Secretary Janet Yellen stated on Wednesday, noting that it had despatched costs for meals, power and a few metals sharply increased, fueling present inflationary pressures.
“It’s prone to be successful to world development,” Yellen advised an occasion hosted by the Atlantic Council suppose tank, including that she “nervous extra about recession prospects” in Europe, which was most susceptible to disruptions in power provides from Russia.
The US had a “very robust economic system, and a really robust labor market,” Yellen stated, but additionally confronted “robust, robust wage pressures,” inflation and the potential for additional provide chain pressures resulting from COVID-19 lockdowns in China.
Reporting by David Lawder and Andrea Shalal; Enhancing by Chizu Nomiyama
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