More shocks are anticipated to 'test the economy,' according to US Treasury Secretary Janet Yellen.

Currently, the Russia-Ukraine war and the coronavirus pandemic are the two biggest challenges to a global economic downturn, as warned by US Secretary of State Janet Wallen on Thursday.

April 29, 2022 - 12:47 PM 245 views

More shocks are anticipated to 'test the economy,' according to US Treasury Secretary Janet Yellen.

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© More shocks are anticipated to 'test the economy,' according to US Treasury Secretary Janet Yellen.

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Currently, the Russia-Ukraine war and the coronavirus pandemic are the two biggest challenges to a global economic downturn, as warned by US Secretary of State Janet Wallen on Thursday. She further added that these two problems will definitely add challenges to the global economy.

       She is confident that, with the two biggest negative shocks, policymakers will definitely understand how crucial it is to exit the economic downturn as soon as possible.

Countries will fare better if their economies are stronger and a little less fragile.

She is confident that, policymakers will definitely design better reforms and the best strategies to boost the economic strength if they keep these problems in mind, such as increased understanding of supply chain breakdowns, increases in commodity rates, asset bubble crashes, and increases in labor and productivity costs.

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