Yellen ‘Closely Monitoring’ Financial Markets as Volatility Rises
- Treasury chief ‘closely monitoring’ financial sector for risks
- Yellen flags need for ‘enhancing’ resilience of Treasuries
Janet Yellen
Photographer: Ting Shen/BloombergThis article is for subscribers only.
Treasury Secretary Janet Yellen cautioned that stresses in the global economy and markets hold the potential to disrupt a US financial system that has so far proved resilient in the face of those shocks.
The world faces a “dangerous and volatile environment” for the global economy, including the surge in energy prices and increased volatility in financial markets, Yellen said in answering questions after a speech in New York Monday. In such a situation, “financial stability risks could materialize” in the US, she said.