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3:52 PM · 22 October 2024

US Treasury Secretary Yellen comments US economy and tariffs🗽

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US Treasury Secretary, Janet Yellen comments:

Bringing deficits under control will help ensure demand for US debt.
US must keep the real net interest to GDP ratio under 2%. Fiscal deficit reduction is required over the coming years.
Broad and high tariffs can send consumer prices higher. Broad tariffs are a misguided approach and will have a negative impact on consumers and export industries.
The Treasury's view is that raising consumer spending as a share of GDP and fixing property problems are important. I have not yet seen policies announced by china to achieve that.
Some entities supporting Russia's war efforts, and intermediaries, will be designated in new sanctions.
We will unveil strong new Russia-related sanctions as soon as next week, targeting intermediaries aiding Moscow's Ukraine war machine.

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