US Treasury Sec. Yellen: More shocks likely to ‘challenge the economy’
US Treasury Secretary Janet Yellen warned Thursday, the coronavirus pandemic and the Russia-Ukraine war pose risks of big economic shocks, with downturns “likely to continue to challenge the economy,” per AP News.
Key quotes
With “large negative shocks” inevitable, she said, policymakers have learned from the Great Recession that it’s imperative to exit economic downturns “as quickly as possible.”
“Countries will fare better if their economies are more resilient and less fragile.”
“Improved understanding of breaks in supply chains, increases in commodity prices, bursting of asset bubbles, and labor and productivity shocks can help policymakers implement reforms that bolster our economic resilience.”
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Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
