Yellen warns of 'enormous' economic repercussions from Ukraine invasion
GOP lawmaker wants Yellen to admit ‘mea culpa’
Rep. David Kustoff, R-Tenn., calls out Treasury Secretary Janet Yellen for supporting big spending and creating ‘tremendous inflationary pressures.’
Treasury Secretary Janet Yellen on Wednesday warned of major consequences for the global economy as a result of the Russian-Ukraine war, including severe disruptions to the global flow of food and energy.
"Russia’s actions represent an unacceptable affront to the rules-based, global order, and will have enormous economic repercussions in Ukraine and beyond," Yellen said in prepared remarks during her annual testimony before the House Financial Services Committee.
JAMIE DIMON WARNS US ECONOMY FACES MAJOR RISKS FROM INFLATION, RUSSIA-UKRAINE WAR
Her comments come as the U.S., European Union and Group of Seven coordinated new sanctions on Russia – including a U.S. ban on new investment in the country and fresh penalties targeting top Russian security officials and President Vladimir Putin's adult children – in response to reported Russian atrocities in the Ukrainian town of Bucha.