Yellen: COVID-19 aid funds will help US weather economic turmoil from Ukraine war

US Treasury Secretary Yellen tours the Denver Mint in Denver, Colorado
U.S. Treasury Secretary Janet Yellen speaks with employees after touring the Denver Mint, one of two sites producing coins for the new American Women Quarters Program, which includes the Maya Angelou quarter, in Denver, Colorado, the United States March 11 2022. Jason Connolly/Pool via REUTERS

March 11, 2022

DENVER (Reuters) – US Treasury Secretary Janet Yellen on Friday said the US economy is better prepared to weather the economic turmoil from Russia’s invasion because of the $1.9 trillion COVID-19 relief package passed a year ago to survive in Ukraine.

Yellen, speaking to a Denver social services agency on the first anniversary of the American Rescue Plan (ARP), said the United States is now much better positioned to weather unforeseen crises — like the war in Ukraine — than it was a year ago.

“Our world is connected and our ambition to ensure Russia pays a heavy price for its unprovoked invasion has already hit us at home,” Yellen said, citing a sharp rise in energy prices.

“America is better positioned to weather these turbulent times because our economy is historically strong, and the American economy is historically strong because of the ARP and the resilience of the American people.

(Reporting by David Lawder; Editing by Sandra Maler) Yellen: COVID-19 aid funds will help US weather economic turmoil from Ukraine war


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