The U.S. Treasury Secretary, Janet Yellen, has stated that it is too soon to forecast the economic repercussions of the ongoing Israel-Hamas conflict.
According to a report by Reuters, Yellen said the economic implications would hinge on whether the combat extends beyond Israel and Gaza.
“We’re looking at the potential economic implications…It’s too early to speculate on whether or not there will be significant consequences.”
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Yellen, when questioned whether the U.S. and the West could afford another war at this time, said, “I think the answer is absolutely. America can certainly afford to stand with Israel and to support Israel’s military needs, and we also can and must support Ukraine in its struggle against Russia.”
Amid the escalating Israel-Hamas conflict, Wall Street’s primary index futures edged higher on Monday in anticipation of this week’s corporate earnings and economic data that might provide insights into the state of the U.S. economy.
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