Janet Yellen (Treasury Secretary) warned of financial stability threats in the U.S. Noting that “Inflation remains too high, and we are contending with serious global headwinds,” she stressed that the Treasury is “closely monitoring the financial sector, as global developments have led to increased market volatility.”
Janet Yellen Warns About Financial Stability Risks In The U.S.
Janet Yellen (Secretary of the Treasury) warned about the financial stability risk to the U.S. while answering questions after her Monday speech at the Securities Industry and Financial Markets Association’s annual meeting.
Citing a “dangerous and volatile environment” for the global economy, including the surge in energy prices and increased volatility in financial markets, Yellen warned that in the United States:
Risks to financial stability could occur.
“We are closely monitoring the financial sector, as global developments have led to increased market volatility,” Yellen added. “To date, the U.S. financial system has not been a source of economic instability. While we continue to watch for emerging risks, our system remains resilient and continues to operate well through uncertainties.”
Yellen discusses U.S. Economy & Inflation
Janet Yellen, Treasury Secretary to the U.S. Treasury, also spoke about inflation and the U.S. economic in Monday’s speech at SIFMA Annual Meeting. While noting that “The U.S. economy retains significant strength,” she cautioned:
The rate of inflation is still too high and there are serious headwinds around the world.
“Growth is slowing globally. And energy and food prices have risen, driven partly by Putin’s terrible war in Ukraine and the pandemic’s lingering effects abroad. Climate change continues to devastate communities, exacerbating energy and food shortages in Europe and across the world,” the treasury secretary continued. “We are highly attuned to these risks.”
Do you have any thoughts about Janet Yellen’s remarks? Please leave your comments below.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.