U.S. Treasury Secretary Janet Yellen leaves at the end of a news conference, after attending the G7 finance ministers meeting, at Winfield House in London, Britain June 5, 2021.
Her comments placed a different emphasis on fiscal support than the joint statement by the G7 finance ministers, which also stressed the need to ensure long-term sustainability of public finances once the recovery takes hold.
Last week, U.S. President Joe Biden’s administration put forward a $6 trillion budget plan that opponents said will fuel higher inflation - something that Yellen on Saturday said was unlikely to be permanent.
“And while we’re seeing some inflation, I don’t believe it’s permanent.”Yellen said the G7 finance ministers agreed to ambitious commitments to de-carbonize their economies and mobilize public and private finance for action to combat climate change.
“To facilitate the mobilization of private climate finance, the G7 also agreed to take action to improve the availability of consistent, comparable, and decision-useful climate-related financial information to market participants,” Yellen said in prepared remarks.
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WASHINGTON, London, Britain, United States