Yellen says financial system working well despite ‘potential for continued volatility’

Posted on AllSides May 9th, 2022
From The Center
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Treasury Secretary Janet Yellen believes the U.S. financial system is in working order, but that Russia’s invasion of Ukraine and China’s Covid-19 lockdowns are making some goods more expensive.

Yellen, set to testify before the Senate Banking Committee on Tuesday, said she and other top financial regulators wouldn’t be surprised to see market turbulence keep up into the summer.

“There is the potential for continued volatility and unevenness of global growth as countries continue to grapple with the pandemic,” Yellen said in her written testimony, which was released by the committee ahead of...

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