Yellen emphasizes progress achieved in tackling inflation and urges the need for ‘critical’ assistance in Ukraine and Israel.

During an interview with CNBC, U.S. Treasury Secretary Janet Yellen emphasized the significant progress made in controlling inflation and strengthening the economy, which she framed as positive news for Americans. Yellen expressed confidence that as inflation eases and the labor market remains strong, the public will acknowledge the achievements. She also highlighted recent legislation, including the Infrastructure bill, Chips and Science Act, and Inflation Reduction Act, as catalysts for economic growth, particularly in the heartland of America. Yellen mentioned over $500 billion in manufacturing investments announced in areas with a need for employment opportunities. Additionally, Yellen discussed the importance of supporting Ukraine and Israel, emphasizing their significance to national security. She warned of the broader implications if the conflict in Ukraine were to be won by Putin, suggesting that it may embolden him to attack a NATO ally. Yellen reaffirmed the U.S. position on China and Taiwan, stating that President Biden’s policies on China and Taiwan remain unchanged, with a desire for peaceful relations. The U.S. Treasury yields showed little response to Yellen’s remarks, remaining relatively stable.