TreasurySec Yellen Noted Resilience Of US Economy In Meeting With IMF Leader

US Treasury Secretary Janet Yellen today met International Monetary Fund (IMF) Managing Director Kristalina Georgieva "to discuss this year’s Article IV consultation."

• According to a Treasury Department readout, "Secretary Yellen reiterated the importance of frank and thorough assessments of all IMF member economies through the annual surveillance process, especially as countries deal with the effects of Russia’s war against Ukraine."
• "They discussed the key economic priorities of the Biden Administration, the strong U.S. response to recent stress in the banking sector, and the outlook for the U.S. economy. Secretary Yellen emphasized the transformative impact of the Inflation Reduction Act, which is the most consequential piece of climate legislation in U.S. history."
• "The Secretary also noted the resilience of the U.S. economy in the face of global headwinds, as well as the progress we’ve made over the past year in bringing down inflation while maintaining a strong labor market."