Yellen: Eliminating abortion rights would have "very damaging" effect on economy

Eliminating a woman's right to seek an abortion would have "very damaging effects on the economy and would set women back decades," Treasury Secretary Janet Yellen said while testifying before the Senate Banking, Housing and Urban Affairs Committee on Tuesday.

State of play: Yellen's comments come one week after a leaked draft ruling revealed that the Supreme Court is prepared to potentially overturn Roe v. Wade.

The big picture: Sen. Bob Menendez (D-N.J.) asked Yellen about the economic consequences for women if the Supreme Court's draft ruling were to be realized.