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☆ Yellen Says U.S. Will Fight to Ensure Robust Economic Aid for Ukraine
▼ + stars: | 2023-10-16 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +4 min

She said the Biden administration was committed to supporting Ukraine "for as long as it takes" and would fight to ensure a bipartisan majority in the U.S. Congress enacted "robust" and uninterrupted assistance for the war-torn country. Ukrainian Finance Minister Serhiy Marchenko told Reuters on Saturday that Ukraine is finding it harder to secure financial support. Yellen lauded the European Union's plans for a 50 billion euro Ukraine Facility to provide sustained economic and reconstruction support, saying that economic support should have maximum concessionality, meaning low or zero interest rates. WINDFALL PROCEEDS TO AID UKRAINETo ensure additional sources of revenue, Yellen reiterated that she supported "harnessing windfall proceeds from Russian sovereign assets immobilized in particular clearing houses and using the funds to support Ukraine." U.S.-EU collaboration was also crucial regarding economic ties with China, Yellen said, including targeted actions to safeguard national security interests such as restrictions on certain outbound investments in sensitive technologies.

Persons: Andrea Shalal LUXEMBOURG, Janet Yellen, Biden, Yellen, Jim Jordan, Donald Trump, Brussels's, Serhiy Marchenko, Andrea Shalal, Christina Fincher Organizations: . Treasury, Ukraine, U.S, Congress, Hamas, Sky News, Kyiv, Ohio, Republican, EU, Ukrainian, Reuters, UKRAINE Locations: United States, Europe, Ukraine, Israel, Gaza, America, Hungary, U.S, Russia, China, Washington

☆ U.S. can 'certainly' afford military support to both Israel and Ukraine, Janet Yellen says
▼ + stars: | 2023-10-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

U.S. Treasury Secretary Janet Yellen said the country can "absolutely" afford to financially support both Israel and Ukraine in their respective war efforts. Asked in an interview with Britain's Sky News on Monday whether the U.S. could afford to be providing military support to Israel and to Ukraine in its ongoing war with Russia, Yellen said "the answer is absolutely." "America can certainly afford to stand with Israel and to support Israel's military needs and we also can and must support Ukraine in its struggle against Russia," Yellen said, adding that the U.S. economy is doing "extremely well." "We stand with Israel. America has also made clear to Israel, we're working very closely with the Israelis, that they have a right to defend themselves," Yellen told Sky News' Wilfred Frost.

Persons: Janet Yellen, Joe Biden, Washington's, Benjamin Netanyahu, Biden, Antony Blinken, Yellen, it's, Kevin McCarthy, we're, Wilfred Frost Organizations: Treasury, Palestinian, Hamas, White, CBS, Britain's Sky, Russia, Republicans, Sky News Locations: Israel, Ukraine, Gaza, Palestinian, U.S, Russia, America

☆ The US can afford to give money to both Israel and Ukraine since its economy is doing 'extremely well,' Janet Yellen says
▼ + stars: | 2023-10-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Treasury Secretary Janet Yellen said the US can afford to support both Israel and Ukraine. Last month, Congress let aid to Ukraine lapse over opposition from some GOP representatives. Janet Yellen has no doubts the US can afford to aid both Israel and Ukraine. Importantly, though, getting money to Israel and Ukraine requires congressional legislation. Biden also expressed his commitment to support both Israel and Ukraine during a CBS interview 60 Minutes interview on Sunday.

Persons: Janet Yellen, Biden, —, It's, Joe Biden, Yellen, it's, Kevin McCarthy, Chuck Schumer, Schumer Organizations: Service, Hamas, Israel, Russia, Sky News, Republican, CBS, New York Times Locations: Israel, Ukraine, Gaza, America, American, United States

Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Seth Wenig/Pool via REUTERS/File Photo Acquire Licensing RightsMARRAKECH, Morocco, Oct 13 (Reuters) - U.S. Treasury Secretary Janet Yellen told Reuters on Friday that she still believes U.S. shelter inflation will continue to ease despite new consumer price data on Thursday showing a jump in housing costs, but the process may take some time. "We do definitely believe that's coming down over time," Yellen said in an interview on the sidelines of the International Monetary Fund and World Bank meetings in Morocco. Yellen has long said that housing costs, will ease over time, helping to bring down core inflation, and said Thursday's CPI report has not deterred her from that view. "I think we have very good reason to believe, with lags, that will come down, and I don't think there's anything in the report that would cause us to think that's a mistake in judgment," Yellen said.

Persons: Janet Yellen, Seth Wenig, Yellen, David Lawder, Andrea Ricci, Marguerita Choy Organizations: Treasury, Rights, . Treasury, Reuters, International Monetary Fund, World Bank, Federal Reserve, CPI, Thomson Locations: United States, New York, Rights MARRAKECH, Morocco

☆ Israel, Hamas at war: Latest Updates
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +8 min

* The International Committee of the Red Cross said it was in touch with both Hamas and Israel about the hostages. * "There are no wreaths left in Israel anymore," said one of the many volunteers working to prepare funeral flowers for more than 1,200 Israelis killed since Hamas gunmen burst into Israel. [1/6]Israeli soldiers patrol following a mass-infiltration by Hamas gunmen from the Gaza Strip, in Sderot, in southern Israel, October 11, 2023. INTERNATIONAL REACTION* Initial U.S. intelligence reports show that key Iranian leaders were surprised by the unprecedented attacks on Israel by Hamas, according to a source. INSIGHTS/EXPLAINERS* How a secretive Hamas commander masterminded the attack on Israel.

Persons: Israel, Fabrizio Carboni, I'd, Mohammaalal, gravediggers, Violeta Santos Moura, Pope Francis, Antony Blinken, Blinken, Jordan, Mahmoud Abbas, Tayyip Erdogan, Ursula von der Leyen, Mohammed Deif Deifly, Amir YaronYaron, Janet Yellen, I'm, Stephen Farrell, Gerry Doyle, Andrew Cawthorne, Lisa Shumaker, Michael Perry Organizations: Red, Hamas, Israel, Committee, ICRC, REUTERS, Saudi, Big, West Bank, Palestinian, Airlines, Norwegian Air, Dutch KLM, Air, Bank of Israel, . Treasury, Thomson Locations: Gaza, Israel, U.S, Egypt, huddling, U.N, Palestinian, Tel Aviv, Beeri, Sderot, EU, Jerusalem, Air France, Saudi Arabia

☆ Oil falls after Saudi pledge; investors keep wary eye on Israel
▼ + stars: | 2023-10-11 | by ( Nicole Jao | ) www.reuters.com time to read: +4 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. Prices settled slightly lower on Tuesday after Saudi Arabia said it was working with regional and international partners to prevent an escalation, and reaffirmed its efforts to stabilise oil markets. Moreover, in the higher rates environment moving forward that “could put the brakes on the upside as far as crude oil,” Yawger said. Russia and Saudi Arabia met in Moscow on Wednesday, when Russian president Vladimir Putin said that OPEC+ coordination will continue "for the predictability of the oil market." Global energy consumption will likely increase through 2050 and outpace advances in energy efficiency, the U.S. EIA said in an outlook.

Persons: Agustin Marcarian, Brent, WTI, …, ”, Bob Yawger, ” Yawger, Tamas Varga, Magid Shenouda, Vladimir Putin, Putin, Janet Yellen, Nicole Jao, Robert Harvey, Laura Sanicola, Muyu Xu, Sharon Singleton, John Stonestreet Organizations: REUTERS, Saudi, . Federal Reserve, . West Texas, . Energy Information Administration, Mizuho, Exxon Mobil, Natural Resources, Organization of, Petroleum, U.S, U.S . Federal, Treasury, EIA, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Gaza, Moscow, Brent, Israel, Palestinian, Russia, OPEC, U.S ., U.S, Europe, New York

"This is something that we have been constantly looking at, and using information that becomes available to tighten sanctions," she said. SOFT LANDING 'NOT ... I'm not saying soft landing is an absolutely sure thing. But I continue to think it's the most likely path," due to the resilience in the labour market and moderating wage pressure, Yellen told a briefing. Yellen said Washington was monitoring the potential economic impact of the escalating conflict, though it was unlikely a major driver of the global outlook.

Persons: Janet Yellen, Yellen, Biden, Washington, Ajay Banga, Banga, Antony Blinken, there’s, I'm, Andrea Shalal, Chizu Organizations: . Treasury, Hamas, Israel, World Bank, International Monetary Fund, Ukraine, Israeli, World, Thomson Locations: MARRAKECH, Morocco, Israel, Palestinian, United States, Gaza, Iran, U.S, IRAN, Washington, Qatar, Ukraine

☆ Israel, Hamas at war: Live updates
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +6 min

Oct 11 (Reuters) - Israel has formed an emergency unity government, with Prime Minister Benjamin Netanyahu sitting in a war cabinet with centrist former defence minister Benny Gantz. * Hamas militants holding Israeli soldiers and civilians hostage have threatened to execute a captive for each home in Gaza hit without warning. * "There are no wreaths left in Israel anymore," said one of the many volunteers working to prepare funeral flowers for more than 1,200 Israelis killed since Hamas gunmen burst into Israel. [1/9]Israeli soldiers patrol following a mass-infiltration by Hamas gunmen from the Gaza Strip, in Sderot, in southern Israel, October 11, 2023. INSIGHTS/EXPLAINERS* How a secretive Hamas commander masterminded the attack on Israel.

Persons: Benjamin Netanyahu, Benny Gantz, I'd, Mohammad al Najjar, gravediggers, Violeta Santos Moura, Pope Francis, Israel, Antony Blinken, Tayyip Erdogan, Ursula von der Leyen, Mohammed Deif, Biden, Amir Yaron, Janet Yellen, I'm, Stephen Farrell, Gerry Doyle, Andrew Cawthorne, Lisa Shumaker, Michael Perry Organizations: Hamas, ICRC, REUTERS, Big, Saudi, Bank of Israel, . Treasury, Thomson Locations: Israel, Gaza, huddling, U.N, Egypt, Palestinian, Tel Aviv, Beeri, Sderot, EU, Jerusalem, Saudi Arabia

☆ Israel, Hamas at War: Live Updates
▼ + stars: | 2023-10-11 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +5 min

CONFLICT* Addressing American Jewish community leaders at the White House, U.S. President Joe Biden called the Hamas attack on Israel "the deadliest day for Jews since the Holocaust." * The UN Security Council will meet on Israel, Gaza on Friday. INSIGHTS/EXPLAINERS* How a secretive Hamas commander masterminded the attack on Israel. The fighting between Israel and Hamas is the latest in seven decades of war and conflict. INTERNATIONAL REACTION* Initial U.S. intelligence reports show that key Iranian leaders were surprised by the unprecedented attacks on Israel by Hamas, according to a source.

Persons: Benjamin Netanyahu, Benny Gantz, Joe Biden, Antony Blinken, I'd, Mohammad al Najjar, gravediggers, Mohammed Deif, Pope Francis, Israel, Amir Yaron, Janet Yellen, I'm, Stephen Farrell, Gerry Doyle, Andrew Cawthorne, Lisa Shumaker, Michael Perry Organizations: Reuters, Hamas, Jewish, White House, UN Security, Big, Saudi, Bank of Israel, . Treasury Locations: Israel, Gaza, Egypt, Tel Aviv, Beeri, Saudi Arabia

☆ Janet Yellen sees limited economic impact from war in Israel
▼ + stars: | 2023-10-11 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

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

☆ Yellen Says Nothing Off the Table for Iran Sanctions
▼ + stars: | 2023-10-11 | by ( ) www.wsj.com time to read: 1 min

MARRAKESH, Morocco—Treasury Secretary Janet Yellen said the U.S. could take steps to tighten sanctions on Iran after Hamas attacked Israel this weekend, though she didn’t commit to specific steps. The Biden administration last month freed roughly $6 billion in sanctioned Iranian oil proceeds as part of a prisoner exchange, a move criticized by Republicans in Washington. At a press conference during meetings of the World Bank and International Monetary Fund, Yellen said the money could be refrozen. "These are funds that are sitting in Qatar that were made available purely for humanitarian purposes, the funds have not been touched," she said. "I won’t take anything off the table in terms of future possible actions, but certainly I don’t want to get ahead of where we are on that."

Persons: Janet Yellen, Biden, Yellen Organizations: Morocco —, Republicans, World Bank, International Monetary Fund Locations: MARRAKESH, Morocco, U.S, Iran, Israel, Washington, Qatar

☆ Janet Yellen says she supports using proceeds from frozen Russian assets to fund more aid for Ukraine
▼ + stars: | 2023-10-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Treasury Secretary Janet Yellen backed a European proposal to access profits from frozen Russian funds. Yellen said she supported "harnessing windfall proceeds from Russian sovereign assets" for Ukraine. European countries froze more than $212 billion in Russian assets after Moscow invaded Ukraine. AdvertisementAdvertisementJanet Yellen backed European plans to tap proceeds stemming from frozen Russian assets to support Ukraine, the Financial Times reported. AdvertisementAdvertisementFor its part, Euroclear announced on Wednesday it would put the profits made from the frozen assets into a fund for Ukraine.

Persons: Janet Yellen, Yellen, —, Euroclear, Alexander De Croo Organizations: Service, Financial Times, Treasury, Euroclear, European Central Bank, Ukraine, Belgian Locations: Ukraine, Moscow, Morocco, Belgium, Russia

☆ The Latest News, Headlines, and Business Stories for October 10
▼ + stars: | 2023-10-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Business: All the best deals for Amazon's October Prime Day sales. 3 things in businessAmazonAll the best October Prime Day deals. Amazon Prime Big Deals Days (also known as the October Prime Day) kicks off today.

Persons: —, you've, Yasser Qudih, Tom, Khan Yunis, Said Khatib, Janet Yellen, Chip Somodevilla, Yellen, Ray Dalio, David Risher, Kendall Jenner, Naomi Osaka, Charli D'Amelio, Tom Brady, Bob Iger, Nelson Peltz, Brady MacDonald, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, Hamas, Getty, Bridgewater Associates, America, Technology, Meta, Disney, ESPN, ABC, National Hockey League, Vegas Golden Knights, Nashville Predators, Tampa Bay Lightning, Chicago Blackhawks, Pittsburgh Penguins, Amazon, PepsiCo, Sky, Delta Sky Club, LAX, LAX Sky Club, Hollywood Locations: Israel, Gaza, AFP, Dadu, Charli, Phoenix, Seattle, New York City, San Diego, London, New York

☆ US Treasury's Yellen Pledges Support for Morocco's Quake Recovery Efforts
▼ + stars: | 2023-10-10 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

By David LawderMARRAKECH, Morocco (Reuters) - U.S. Treasury Secretary Janet Yellen on Tuesday said her government, the International Monetary Fund (IMF)and the World Bank would support Morocco's earthquake rebuilding efforts, praising the country's resilience in hosting the institutions' annual meetings this week. "We stand ready to help in any way that is helpful as you go about the rebuilding process," Yellen told reporters in Marrakech, reading handwritten remarks. She did not specify what assistance would be offered but added that support for Morocco would be discussed at the IMF and World Bank meetings in Marrakech. Yellen toured the Bin Youssef high school in Marrakech, which was quick to take on students displaced from damaged schools in villages hit by the Sept. 8 earthquake. Morocco also has a $5 billion IMF flexible credit line that it can draw on.

Persons: David Lawder, Janet Yellen, Yellen, Youssef, Deborah Kyvrikosaios Organizations: . Treasury, International Monetary Fund, World Bank, IMF, Sustainability Trust Locations: David Lawder MARRAKECH, Morocco, Marrakech, Moroccan

☆ Yellen says World Bank needs 'cultural change' to better mobilize private capital
▼ + stars: | 2023-10-10 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

REUTERS/Elizabeth Frantz/File Photo Acquire Licensing RightsBEN GUERIR, Morocco, Oct 10 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Tuesday the World Bank had made progress in reforming its operations to better address climate change and other global challenges, but still needed "cultural change" to mobilize private sector capital. But more efforts were needed to equip World Bank staff to deliver the desired results, Yellen said. The reforms of the World Bank and other multilateral development banks (MDBs) are a key topic at this week's annual meetings in Morocco of the International Monetary Fund and World Bank. But government funding would never suffice, Yellen added, calling on the MDBs to establish concrete private capital mobilization targets and incentives for staff to meet them. She said the World Bank's International Finance Corp and MIGA divisions should expand their lending, guarantee and insurance instruments, and find new ways to smartly manage foreign exchange risk.

Persons: Janet Yellen, Elizabeth Frantz, BEN GUERIR, Ajay Banga, Yellen, Banga, Andrea Shalal, Catherine Evans Organizations: Treasury, Treasury Department, REUTERS, . Treasury, Bank, Mohammed VI Polytechnic University, World Bank, International Monetary Fund, Bank's International Finance Corp, Thomson Locations: Washington , U.S, Morocco, Ben Guerir

☆ Yen cowers near 150 as intervention chatter runs rife
▼ + stars: | 2023-10-04 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

[1/3] Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998. Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. Sterling edged 0.03% lower to $1.20745, languishing near the previous session's close to seven-month low of $1.20535. Meanwhile, Cleveland Fed President Loretta Mester said she is open to raising interest rates again.

Persons: Florence Lo, James Malcolm, Masato Kanda, Janet Yellen, Rodrigo Catril, Raphael Bostic, Loretta Mester, Rae Wee, Sam Holmes Organizations: U.S, REUTERS, Rights, UBS, Tokyo, Treasury, Sterling, National Australia Bank, Atlanta Fed, Cleveland Fed, New Zealand, Reserve Bank of New Zealand, Thomson Locations: Rights SINGAPORE, Asia, Washington, Japan

☆ Gold fragile on lofty U.S. dollar and yields, palladium at 5-year low
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: +2 min

Gold prices headed back towards seven-month lows on Wednesday as an ascending dollar and bond yields after strong U.S. jobs data kept markets expectant of further monetary policy tightening, while palladium slipped to its lowest level since late 2018. Spot gold eased 0.1% to $1,820.70 per ounce by 0332 GMT, while U.S. gold futures dropped 0.3% to $1,836.20. The unexpected rise in August U.S. job openings highlights the durability of labor demand, NAB Resources said, adding that gold continues to decline on the higher-for-longer Federal Reserve rates outlook, strengthening U.S. bond yields and dollar. Benchmark U.S. 10-year bond yields were at 16-year highs, diminishing demand for non-interest-paying bullion. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.2% on Tuesday.

Persons: Janet Yellen, Yeap Jun Rong Organizations: U.S ., NAB Resources, U.S, Treasury, Benchmark, Trust, Palladium Locations: Moscow, Russia

☆ Yen cowers near 150 as Japanese intervention chatter runs rife
▼ + stars: | 2023-10-04 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998. Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. The Aussie stood at 94.03 yen , after having fallen to an over one-month low of 93.16 yen on Tuesday. Sterling edged 0.02% lower to $1.2076, languishing near the previous session's close to seven-month low of $1.20535.

Persons: Florence Lo, James Malcolm, Shunichi Suzuki, Masato Kanda, Janet Yellen, Rodrigo Catril, Raphael Bostic, Loretta Mester, Rae Wee, Sam Holmes, Stephen Coates Organizations: U.S, REUTERS, Rights, UBS, Japanese Finance, Tokyo, Treasury, New Zealand, Sterling, National Australia Bank, Atlanta Fed, Cleveland Fed, Thomson Locations: Rights SINGAPORE, Asia, Washington, Japan

☆ Insurers are seeking a way to make money from your climate change travel anxiety
▼ + stars: | 2023-10-04 | by ( Ellen Sheng | ) www.cnbc.com time to read: +3 min

More travel and disrupted travel plans have meant more interest in travel insurance, which covers trip cancellation, lost luggage and delays. "The baseline of normal has changed significantly," said Jeff Rolander, vice president of claims at Faye Travel Insurance. More travelers seeking out trip insuranceConsumers are reacting to increasingly extreme and unpredictable natural disasters by more often opting into travel insurance. According to Squaremouth.com, a travel insurance quoting and comparison engine, the travel insurance market has grown significantly since 2020, when travel came to a halt. But increased delays due to extreme weather are also contributing to the growth.

Persons: Jeff Rolander, Squaremouth.com, Nick Lazzari Organizations: Faye Travel Insurance Locations: Rhodes, North America, Mexico

Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Seth Wenig/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Oct 3 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Tuesday she was very optimistic about the outlook for the U.S. economy, adding that inflation was coming down in the short term and the labor market was "extremely strong." Short term: inflation is coming down in the context of an extremely strong labor market," Yellen said at a Fortune CEO event on Tuesday. The treasury secretary added she was pleased that Congress passed a deal over the weekend that averted a government shutdown. Yellen also said the United States had an over-dependence on China in some key areas.

Persons: Janet Yellen, Seth Wenig, Yellen, Joe Biden, David Lawder, Kanishka Singh, Jonathan Oatis, Gareth Jones, Cynthia Osterman Organizations: Treasury, Rights, . Treasury, Federal, Thomson Locations: United States, New York, U.S, China, Washington

☆ Treasury's Yellen says US overdependent on China for critical supply chains
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

U.S. Treasury Secretary Janet Yellen addresses a news conference during a G20 finance ministers' and Central Bank governors' meeting at Gandhinagar, India, July 16, 2023. REUTERS/Amit Dave/File Photo Acquire Licensing RightsWASHINGTON, Oct 3 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Tuesday the United States has become overly dependent on China for critical supply chains, particularly in clean energy products and needs to broaden out sources of supply. Yellen, speaking at a Fortune CEO event in Washington, repeated her longstanding view that the United States does not want to decouple economically from China. "We're fooling ourselves if we think that abandoning, for all practical purposes, semiconductor manufacturing, is a smart strategy for the United States," Yellen said. Reporting by David Lawder and Kanishka Singh in Washington; editing by Jonathan Oatis and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Amit Dave, Yellen, David Lawder, Kanishka Singh, Jonathan Oatis, Deepa Babington Organizations: Treasury, Central Bank governors, REUTERS, Rights, . Treasury, United, Thomson Locations: Gandhinagar, India, United States, China, Washington, U.S

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Meanwhile, a partial government shutdown is looming, which could affect the release of economic data and potentially dent economic growth. The greenback is up 3.54% against the yen this quarter, following an 8.66% gain last quarter. Core inflation in Japan's capital slowed in September for the third straight month mainly on falling fuel costs, data showed on Friday. The British currency is on track for a quarterly loss of 3.85% against the U.S. dollar, the worst performance in a year.

Persons: Florence Lo, ”, Peter Cardillo, Brown Brothers Harriman, “ We’re, Janet Yellen, Sterling, Karen Brettell, Amanda Cooper, Stephen Culp, David Holmes, Nick Zieminski Organizations: U.S, REUTERS, Spartan Capital Securities, Federal Reserve, Brown Brothers, Republicans, U.S . House, Treasury, U.S ., Thomson Locations: New York, U.S, London

That bill would have cut spending and imposed immigration and border security restrictions, Republican priorities that had little chance of passing the Democratic-majority Senate. "It's not the end yet; I've got other ideas," Republican House Speaker Kevin McCarthy told reporters following the defeat of a bill he had backed. Social Security payments themselves would continue. Lawmakers are not considering cuts to popular benefit programs such as Social Security and Medicare. Several hardliners have threatened to oust McCarthy from his leadership role if he passes a spending bill that requires any Democratic votes to pass, an outcome almost guaranteed given that any successful House bill must also pass the Senate, controlled by Democrats 51-49.

Persons: Kevin McCarthy, Jonathan Ernst, It's, I've, Joe Biden, Janet Yellen, creditworthiness, Biden, Mark Milley's, McCarthy, Hakeem Jeffries, Donald Trump, Biden's, Dan Crenshaw, Richard Neal, Moira Warburton, David Morgan, Scott Malone, Alistair Bell, Jonathan Oatis Organizations: Capitol, REUTERS, Rights, Republicans, U.S . House, Democratic, Republican, National Park Service, Securities and Exchange, Treasury, Social, Social Security, Democrats, Reuters, Thomson Locations: Washington , U.S, U.S, Mexico

☆ Yen intervention a hard sell even as 150 to the dollar 'red line' beckons
▼ + stars: | 2023-09-29 | by ( Kevin Buckland | ) www.reuters.com time to read: +6 min

But, Japanese authorities could find propping up their currency both difficult to achieve and hard to justify. To make even a ripple in the $5 trillion currency market, the BOJ would need to draw down massive amounts of dollar reserves. Wakabayashi, like many other analysts and investors, considers the 150 yen per dollar level a red line for currency intervention, not least because of its significance as a symbol of climbing costs of living from imported food and fuel. INTERVENTION IMMINENTThe yen careened to a 32-year trough at 151.94 last October before being reined in by several bouts of heavy intervention, the first by Japanese authorities in a generation. Measures of expected market volatility remain subdued.

Persons: Kim Kyung, Bank of Japan's hesitancy, Kazuo Ueda, You've, they're, Bart Wakabayashi, Fumio Kishida, Shunichi Suzuki, Masayuki Kichikawa, Ray Attrill, Janet Yellen, Aninda Mitra, Mitra, Kevin Buckland, Alun John, Vidya Ranganathan, Simon Cameron, Moore Organizations: National Printing Bureau, Bank of Japan, REUTERS, Rights, Bank of Japan's, U.S . Federal Reserve, U.S, Treasury, Fed, State Street Bank, Trust, Finance, Sumitomo Mitsui DS Asset Management, Ministry of Finance, National Australia Bank, BNY Mellon Investment Management, Thomson Locations: Tokyo, Japan, U.S, Washington, Asia, London

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