Yellen: Russia invasion will have ‘enormous repercussions’

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — Treasury Secretary Janet Yellen told a House panel that Russia’s actions in Ukraine “will have enormous economic repercussions in Ukraine and beyond.” Yellen said in remarks that globally, “spillovers from the crisis” are heightening economic vulnerabilities in many countries that are already facing higher debt burdens and limited policy options as they recover from COVID-19. Yellen’s appearance before the House Financial Services committee is part of her annual testimony on the state of the international financial system.