London CNN —The war between Israel and Hamas is unlikely to have a significant impact on the global economy, US Treasury Secretary Janet Yellen said Wednesday.
Global oil prices had surged earlier in the week on fears that the war could cause wider instability in the oil-producing Middle East.
But Yellen said Wednesday that the United States had not “in any way” relaxed sanctions on oil exports from Iran.
But it cautioned in its latest World Economic Outlook report — finalized before the conflict erupted — that economic growth remained weak and patchy.
The IMF shaved its forecast for global growth in 2024 by 0.1 percentage point to 2.9%.
Persons:
Janet Yellen, I’m, ”, Yellen, Pierre, Olivier Gourinchas, —, — Robert North
Organizations:
London CNN, International Monetary Fund, Bank, Stock, Global, Chevron, IMF
Locations:
Israel, Morocco, Iran, China, Washington, United States, Saudi Arabia, Russia, Egypt, Jordan, Europe