Yellen says more shocks likely to ‘challenge the economy’

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — Treasury Secretary Janet Yellen says the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future. She adds that downturns are “likely to continue to challenge the economy.” In a speech Thursday at the Brookings Institution, Yellen spoke about the need to build in “recession remedies” to protect the people in the U.S. and around the globe from economic ruin. She drew on the lessons that policymakers learned from the Great Recession to talk about the imperative of getting out of economic downturns “as quickly as possible.”