Posted 1/26/2024, 7:35:00 PM
China Reassures US on Banks; Yellen Sees Limited Economic Spillovers
- Chinese officials assured US Treasury that Chinese banks are doing well despite financial turmoil
- Yellen does not see large spillovers to the US economy from China turmoil currently
- US-China Economic Working Group to meet in Beijing soon to discuss China's economic situation
- Financial Working Group met last week, focused on debt issues in local governments and real estate
- Yellen expects G7 report soon on potential legal justifications for seizing Russian assets over Ukraine