4/13/2022, 5:05 PM (Source: TeleTrader)
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Recession risks are higher in Europe - Yellen

Risks of the economy entering recession are more substantial in Europe than in the United States, US Treasury Secretary Janet Yellen said on Wednesday.

"Particularly in Europe, which is the most vulnerable [in regard to the Ukraine crisis], I would worry more about recession prospects," Yellen asserted during an event hosted by the Atlantic Council.

Yellen claimed that the US economy is "very strong" by many metrics, but backpedaled and describe the current situation as "tricky," mostly due to inflation.

Baha Breaking News (BBN) / BU