US Treasury Secretary Yellen
- OPEC+ production cut 'very unconstructive act,' clearly not positive for global growth
- Lower gasoline prices have helped with holding down inflation , OPEC+ move will not help
- OPEC+ move adds to uncertainty and burdens on consumers at a time when inflation is already high
- She does not see OPEC+ as having impact on appropriate level of western price cap on Russian crude oil , now at $60/barrel
- She does not believe it is appropriate at this time to change level of Russian oil price cap, could be revisited
- Russian price cap is working, has led to large and widening discounts on Russian crude
And also:
- Says deposit outflows from small and medium-sized banks are diminishing, 'actions we've taken have certainly helped'
- US Banking situation stabilizing, but watching it very closely
- Not willing to allow contagious runs to develop in US Banking system
- US Banking system is well-capitalized and liquid, federal reserve is available as lender of last resort
- FSOC has focused on a range of issues including financial risks, has not put all of its recent focus on climate change risks
A clearly not happy Jan.
