Statement on Inflation by US Treasury Secretary Janet Yellen

US Treasury Secretary Janet Yellen made assessments about the economic agenda in the television program she attended.

Recalling that US inflation slowed to 3.2 percent annually in October, Yellen said: “I think we have made significant progress in reducing inflation.” saying.

Yellen said that although prices overall rose much more slowly, Americans still saw price increases on some major items, including food prices, compared to the pre-pandemic period.

HIGHER THAN USUAL

Stating that prices are higher than what Americans are accustomed to, Yellen said the progress made in reducing inflation was achieved by maintaining the strength of the economy and the labor market, and that this was “good news.” for Americans.

Yellen said US President Joe Biden’s administration is making investments that will improve conditions in many parts of the country.

HE STRESSED THE IMPORTANCE OF PROVIDING HELP TO ISRAEL AND UKRAINE

When asked about the possibility of the $105 billion additional funding requested from Congress by the Biden administration, primarily for Israel and Ukraine, being enacted before the end of the year, Yellen emphasized that this is a critical priority for President Biden and critically important. for the national security of the United States.

Yellen stated that she could not predict any timeline for the request to become law, but that it was very important that this aid be provided to both Israel and Ukraine.

Noting that they cannot allow Ukraine to lose the war on the home front because it does not have enough money, Yellen stated that Ukraine is completely dependent on this aid.

EVALUATED THE BIDEN-SI MEETING

Yellen also referred to meetings with China last week as part of the Asia Pacific Economic Cooperation (APEC) Summit, saying this was an opportunity for Biden and Chinese President Xi Jinping to deepen their communications to that the two countries can make concrete progress on issues on which they can work together.

Stating that both leaders expressed concerns about some policies and economic actions, Yellen said, “But most importantly, he realized that we have an opportunity to work together on mutual and world-related issues.” he made the assessment of it.

Yellen stated that she discussed issues regarding China’s investments in the United States with her Chinese counterpart.

On the other hand, Yellen stated that she is concerned about privacy and issues related to social media and that the problem with TikTok has not yet been resolved. (AA)