Janet Yellen warns of 'enormous' economic repercussions from war in Ukraine
CNN
US Treasury Secretary Janet Yellen warned Wednesday about the economic shockwaves set off by the war in Ukraine, including disruptions to the 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 ahead of her annual testimony before the House Financial Services Committee.
The war -- and the political response of the West, led by sanctions -- has already sent food and energy prices soaring and has raised concerns about an economic slowdown or even recession during a time of already rampant inflation around the world. In the United States, inflation is at a level not seen in 40 years.
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