US Treasury Sec. Yellen: Global economy resilient in face of challenging geopolitical landscape
|US Treasury Secretary Janet Yellen said on Tuesday that the “global economy resilient in the face of the challenging geopolitical landscape.”
Additional quotes
Urge European banks to heighten compliance measures and increase focus on russian evasion attempts-remarks to bankers.
European banks should ensure that overseas branches stringently apply sanctions compliance policies, especially in high risk jurisdictions.
Continues to explore new ways to reduce russia's revenues and acquire goods for its war in Ukraine.
The most concerning evasion of US Russian sanctions has come through China, UAE, Turkey but watching europe as well.
Banks have bolstered compliance measures in response to US warnings on secondary financial institution sanctions.
Actions by global financial sector are helping to frustrate russia's ability to procure battlefield goods.
Global financial conditions have eased since 2023 banking sector turmoil, risks broadly balanced.
Remaining vigilant to elevated corporate debt, leverage and liquidity mismatches in non-bank sector, commercial real estate strains.
US, Europe must respond in strategic, united way to china's industrial policy.
China's excess industrial capacity threatens viability of firms in the US and Europe and industrial development in emerging markets.
US not seeking to decouple from china, but to diversify its supply chains.
US tax subsidies for clean energy investments 'not a turn towards american protectionism,'European firms are participating.
Market reaction
The US Dollar Index is holding steady at 104.58, at the time of writing, little affected by Yellen’s comments.
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