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Financial warning from US Treasury Secretary as volatility rises in markets

Yellen, the US Treasury Secretary, stated that they follow the financial sector closely as global developments increase market volatility and that they are careful because there is an environment in which financial risks can occur in the country.

Financial warning from US Treasury Secretary as volatility rises in markets

US Treasury Secretary Janet Yellen stated at the annual meeting of the Securities Industry and Financial Markets Association (SIFMA) that they focused on the transition of the US economy to stable and sustainable growth.

Emphasizing that the US economy remains strong, Yellen said that inflation is very high and that they are struggling with "headwinds" on a global scale.

Yellen stated that they follow the financial sector closely as global developments increase market volatility. said.

Pointing out that the bond market reflects more uncertainty regarding the economic outlook, Yellen noted that transaction volumes are strong and investors are able to complete their transactions.

Pointing out that they have seen some periods of stress in this critical market over the past few years, Yellen said, "These times emphasized the importance of building resilience. The Treasury is working with financial regulators to advance reforms that will improve the bond markets' ability to absorb shocks and disruptions rather than amplify them." he said.

Treasury Secretary Yellen also stated that they are wary of the possibility that higher market volatility could reveal vulnerabilities in non-bank financial intermediation.

Emphasizing that they do not see any problems in the US financial system at the moment, Yellen said, "We are watching the financial risks in the US carefully and we are careful as this is an environment where we can see the risks materialize." she said.

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