More comments from Treas. Sec. Yellen:
- Russian economy is reeling from sanctions.
- The market in rubles is not a free market
- The issue with blocking oil exports from Russia is that many countries especially in Europe, are highly dependent on it
- It could see sky rocketing prices from a complete Russian oil export ban
- We ideally would like to impose as much pain as possible on Russia but have to take into account the consequences
- We are put in place sanctions every weekend I do believe they are working
The comments are not exactly a surprise
On the US economy:
- US economy enjoying strongest job market in decades
- Americans financial conditions overall are very strong
- People are concerned about inflation and that's understandable
- Inflation erodes ability of households to make purchases
- For the lowest income households wages are exceeding inflation
