Washington is more than capable of representing its interests abroad, says Janet Yellen
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RT U.S. Treasury Secretary Janet Yellen said Monday that Washington can “absolutely” afford to fight wars on two separate fronts and said its coffers are in good shape to support U.S. interests abroad To continue to support Ukraine and the Middle East given the ongoing tensions in the Middle East.
“The United States can certainly afford to stand with Israel and support Israel’s military needs, and we can and should also support Ukraine in its fight against Russia,” Yellen said in an interview with the on Monday British broadcaster Sky News before a meeting with the Eurogroup finance ministers in Luxembourg.
Yellen added that the United States’ financial outlook is sufficient to support its allies abroad. But she warned that the potential economic impact of a major conflict in the Middle East remains unknown, especially given an already volatile global oil and natural gas market that has contributed to a cost of living crisis in several Western economies last year.
Former Federal Reserve Chairwoman Yellen also noted that inflation is slowing but urged Republicans to speed up efforts to appoint a new House speaker to ensure financial aid can flow abroad. California Republican Kevin McCarthy was impeached earlier this month, raising concerns about possible economic and legislative gridlock in Washington.
McCarthy was ousted as House speaker after his GOP colleague, Florida Rep. Matt Gaetz, called a vote to remove him following allegations that McCarthy had caved to Democrats’ demands to pass a sweeping spending bill. He was also accused of making an agreement with US President Joe Biden to continue funding the Ukrainian army.
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“We really need to find resources, both for Israel and for Ukraine,” Yellen said, adding that it remains a “priority” of the Biden administration. “It’s really up to the House of Representatives to find a leader, appoint a leader and put us in a position to pass legislation.”
Yellen’s comments follow her participation last week in an IMF/World Bank conference in Morocco, where business leaders discussed the potential impact of a deeper crisis between Israel and the Palestinian militant group Hamas.
According to recent calculations by the State Department’s Office of Inspector General, the United States has so far approved at least $113 billion in aid to Ukraine. However, CNN reported last week that the U.S. military had asked defense manufacturers to increase production to fill gaps in weapons stockpiles caused by arms transfers to Ukraine, thus ensuring munitions supplies to Israel.
Amid renewed focus on the conflict between Israel and Palestine, Ukrainian President Volodymyr Zelensky has warned in recent days that “international attention” must not be diverted from his country.
Polls also conducted by CNN in August reflected growing dissatisfaction in the US over the approval of additional funding to help Kiev in its conflict with Moscow 55% of respondents called for spending on Ukraine to be cut.