The US Treasury Secretary Janet Yellenspoke at a Fortune CEO event in Washington on Tuesday, reiterating his view that the US would prefer not to economically disengage from China.
Featured Statements
“The US has become overly dependent on China for critical supply chainsparticularly in clean energy products, and needs to expand its sources of supply.
“The US does not want to economically disengage from China“.
“The US would face national security problems without a strong semiconductor sector of its own.”
“We are deluding ourselves if we think that abandoning, for all practical purposes, semiconductor manufacturing is a smart strategy for the United States.”
Market reaction
These comments do not seem to influence risk appetite much. At the time of writing, the Dollar Index (DXY) is trading above 107.06, down 0.01% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
