US Treasury Secretary Janet Yellen said the Biden administration hasn’t ruled out new sanctions against Iran in relation to renewed conflict in the Middle East, but no decisions have been made.
(Bloomberg) — US Treasury Secretary Janet Yellen said the Biden administration hasn’t ruled out new sanctions against Iran in relation to renewed conflict in the Middle East, but no decisions have been made.
“I wouldn’t take anything off the table in terms of future possible actions, but I certainly don’t want to get ahead of where we are now,” Yellen said Wednesday during a press conference in Marrakech, Morocco.
Guardians of world finance have gathered here for the annual meetings of the International Monetary Fund and World Bank against the backdrop of ongoing fighting after Hamas attacked Israel from the Gaza Strip. Upcoming events include a ministerial roundtable discussion on Ukraine at 5:30 p.m. that Yellen will address.
All times are for Morocco.
Fed’s Bowman Says Higher Rates May Be Needed to Curb Inflation (11:32 a.m.)
Federal Reserve Governor Michelle Bowman said interest rates may need to rise further and stay higher for longer than previously expected to get inflation down to the central bank’s goal.
Read more: Fed’s Bowman Says Higher Rates May Be Needed to Curb Inflation
Higher-for-Longer Rates Worry World Bank as Debt Ripples Spread (11:17 a.m.)
The prospect that high interest rates will keep constricting the global economy is worrying World Bank officials as they look to the impact on nations nursing large debts.
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World Bank’s New Chief Says Institution Must Be Bigger, Better (11:04 a.m.)
Ajay Banga, the World Bank’s new president, said the lender must become bigger as well as better at measuring its impact so it can help fund some of the trillions of dollars in global development needs.
Read more: World Bank’s New Chief Says Institution Must Be Bigger, Better
US Treasury Debt Dynamics ‘Very Unfavorable,’ IMF Official Says (10:30 a.m.)
The forces underlying the Treasury debt market are extremely adverse as the US is on an unsustainable fiscal path, a senior International Monetary Fund official said.
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IMF Sees Rebound for Africa’s Floundering Economies (Oct. 10, 7:30 p.m.)
Africa’s economic activity will likely slow again this year amid taxing headwinds but is expected to recover in 2024, according to the International Monetary Fund’s latest regional outlook.
Read more: IMF Sees Rebound on Horizon for Africa’s Floundering Economies
Yellen Resists Pressure for Reform of IMF Voting Shares (Oct. 10, 4:37 p.m.)
US Treasury Secretary Janet Yellen showed little willingness to embrace reforms at the International Monetary Fund that would give China and other developing countries significantly more say in how the world’s go-to emergency lender is run.
Read more: Yellen Resists Pressure for Reform of IMF Voting Shares
–With assistance from Christopher Condon, Jana Randow, Ekow Dontoh, Mirette Magdy and Eric Martin.
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