WAR ON TWO FRONTS

Treasury Secretary: U.S. Can ‘Absolutely’ Afford Two Wars

Janet Yellen added that the U.S. economy was doing “extremely well.”

In an interview with Sky News, Janet Yellen said that the U.S. can “certainly” afford to fund Israel and Ukraine in their conflicts with Hamas and Russia. The secretary of the treasury added that the U.S. economy is doing “extremely well,” explaining that inflation has fallen and unemployment remains at its lowest point in 50 years, at 3.8 percent. Following President Joe Biden’s announcement of “unwavering support” for Israel, Yellen said it’s a “priority” to financially support the country and its “right to defend themselves.” But she pointed out that House Republicans need to elect a new speaker quickly in order to pass legislation to financially back allies. Yellen later told Sky News’ Wilfred Frost that the economic impact of the Israel-Hamas war on resources like oil and natural gas remains unclear since other nations like Iran could be pushed into the violence. At least 1,400 people in Israel and 2,700 people in Gaza have died as of Monday morning.