Treasury Secretary Janet Yellen Visits Ukraine to Show US Support and Discuss Economic Aid

Treasury Secretary Janet Yellen made a surprise trip to Ukraine on Monday to emphasize the US commitment to supporting Kyiv in the midst of its ongoing war with Russia. Yellen met with Ukrainian President Volodymyr Zelenskyy and discussed the US’s efforts to hold Russia accountable for its actions.

In an exclusive interview with CNN’s Melissa Bell from Kyiv, Yellen said the Federal Reserve’s efforts to bring down inflation while maintaining a strong labor market appear achievable. She noted that inflation is still too high, but that it has been coming down over the last year.

Yellen also discussed the US’s economic assistance to Ukraine, which has totaled $14 billion since the war began. She said the Treasury Department is responsible for imposing international sanctions against Russian individuals and entities, as well as delivering economic aid to the country.

Yellen, who served as Federal Reserve Chair from 2014-2018, said she is confident the Fed is committed to continuing the process of bringing inflation down to more normal levels. She believes the US is on track for a soft landing in terms of inflation.

The surprise visit to Ukraine is the latest in a series of efforts by the Biden administration to demonstrate its commitment to supporting Kyiv in the face of Russian aggression. Yellen’s visit follows President Biden’s trip to the country last week.