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By Beiyi SEOW BEIJING, April 8, 2024 (AFP) – The United States “will not accept” a situation where underpriced Chinese goods flood the global market, battering industries elsewhere, US Treasury Secretary Janet Yellen said Monday as she wrapped up high-level talks in China. Yellen repeatedly warned about the risks of China’s excess industrial capacity during four-day talks with officials and business leaders in the southern city of Guangzhou and capital Beijing. Washington’s concern is that […]
BEIJING, July 8, 2023 (AFP) – Washington and Beijing should communicate “directly” on concerns about specific economic practices, US Treasury Secretary Janet Yellen said Saturday, urging greater cooperation between the world’s two biggest economies despite fraught ties. Yellen is on a four-day trip to Beijing, as the United States seeks to cool tensions and stress areas of collaboration between the two countries. In a meeting Saturday with Vice Premier He Lifeng, she pointed to record […]
FORT WORTH, United States (AFP) — A recession in the US is “not inevitable,” Treasury Secretary Janet Yellen said Thursday, adding that she believes the world’s biggest economy is on the right track in lowering inflation. Her comments come on the heels of a forceful campaign by the US central bank to cool demand this year, walking a tightrope between lowering consumer costs while trying not to tip the economy into a downturn. For now, […]
by Jack MOORE Agence France Presse Russia’s war in Ukraine poses the greatest threat to the global economy, US Treasury Secretary Janet Yellen said Thursday as G20 ministers prepare to start talks in Indonesia. Moscow’s invasion has sent inflation soaring at a time when the world is struggling to recover from the Covid-19 pandemic, endangering the gains of the past two years and threatening widespread hunger and poverty. “Our greatest challenge today comes from […]
G20 leaders have formally endorsed the global agreement for a minimum 15 percent corporate tax, US Treasury Secretary Janet Yellen said Saturday, hailing it as a “historic” step. “Today, every G20 head of state endorsed an historic agreement on new international tax rules, including a global minimum tax that will end the damaging race to the bottom on corporate taxation,” she said. Some 136 countries representing more than 90 percent of global GDP have signed […]
HONG KONG, China (AFP) — Asian markets surged on Thursday, extending a global rally that saw another record on Wall Street after the head of the Federal Reserve indicated it would take a gradual approach to raising United States interest rates. In closely watched testimony to Congress, Janet Yellen said the central bank would keep lifting borrowing costs as long as the world’s top economy showed improvement, taking into account inflation remained below its two […]
TOKYO, Japan (AFP) — Tokyo shares opened higher Tuesday as the yen’s fall boosted exporters including Toyota and Panasonic, while markets awaited Federal Reserve chair Janet Yellen’s speech later in the day. Tokyo’s benchmark Nikkei 225 index rose 0.46 percent, or 92.01 points, to 20,245.36 in morning trading, while the Topix index of all first-section issues gained 0.45 percent, or 7.31 points, to 1,619.52 yen. In currency markets, the dollar firmed to 111.92 yen, against […]
(Reuters) – A slumping housing market and geopolitical tensions risk undermining the U.S. economy and bear close watching by the Federal Reserve, the central bank’s chief said on Wednesday. In testimony to Congress, Fed Chair Janet Yellen repeated her stance that the economy was still in need of lots of support given the “considerable slack” in the labor market. While she offered few new clues on the direction of interest rates, Yellen broke ground in […]
(Reuters) – Asian shares rallied for a fourth straight session on Wednesday, as upbeat trade data from China and an optimistic economic outlook from Federal Reserve Chair Janet Yellen whetted investors’ appetite for risk. Investors took heart from the strong performance on Wall Street and lifted MSCI’s broadest index of Asia-Pacific shares outside Japan about 0.8 percent. Chinese exports handily beat expectations in January, rising 10.6 percent from a year earlier, while imports jumped 10 […]
(Reuters) – Federal Reserve Chair Janet Yellen said on Tuesday the U.S. central bank was on track to keep reducing its policy stimulus, even as she acknowledged the labor market recovery was “far from complete.” In her first public comments as Fed chief, Yellen said the central bank would need to keep its eye on a broad range of labor market indicators, not just the unemployment rate, as it continued to assess the health of […]
