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Marketplace

Treasury Secretary Yellen on Ukraine, inflation and the debt ceiling

Marketplace

Marketplace

News, Business

4.68.5K Ratings

🗓️ 2 March 2023

⏱️ 29 minutes

🧾️ Download transcript

Summary

This week, Treasury Secretary Janet Yellen visited Kyiv to underscore U.S. support for Ukraine. Today, Yellen joined “Marketplace” host Kai Ryssdal to chat about her trip, the “moral obligation” to aid Ukraine and the impact of sanctions on Russia, as well as domestic economic concerns — from the politicization of the debt ceiling to cooling the labor market. Plus, what an inverted yield curve foretells and where consumers are cutting back.

Transcript

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0:00.0

You remember that game we used to play what is Janet Yellen thinking?

0:07.0

Well, here you go. Way more than five words, though, from American public media.

0:13.0

This is Marketplace.

0:24.0

In Washington DC, today I'm Kai Rizdal. It is Thursday, the second day of March.

0:29.0

And March could have always have you along.

0:31.0

Everybody, Janet Yellen has had a pretty busy week or so.

0:35.0

The G20 Finance Minister's meeting in India this past weekend,

0:38.0

then a 10-hour train ride into Kiev 12 surprise hours on the ground on Monday,

0:43.0

then 10 hours in a train back out the long flight home,

0:46.0

and everybody back in the office the next day.

0:49.0

She and I talked about all that in the Treasury building this morning before we turned the microphones on.

0:55.0

And once we did, question number one was about that trip to Kiev and the war in Ukraine.

1:00.0

And what Yellen calls this country's moral obligation to help,

1:04.0

even as Speaker Kevin McCarthy and some Republicans in the House,

1:07.0

make it clear they would like to tighten their grip on the purse strings.

1:12.0

Well, first of all, I do believe we have a moral obligation to help a country

1:20.0

and its people who are utterly courageous in fighting against brutal and unprovoked attack on them,

1:30.0

which threatens not only that country and its people,

1:35.0

but also raises a threat to many other countries if we don't stand up against this kind of aggression.

1:44.0

We haven't seen anything like this in Europe in decades,

1:49.0

and it really is a violation of all that we stand for.

1:55.0

And so it is in our interest to stand up against it.

...

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