Yellen says Iran’s actions could cause global ‘economic spillovers’, warns of more sanctions

News Snapshot:

Treasury Secretary Janet Yellen warned Tuesday of potential global economic damage from rising tensions in the Middle East and pledged that the US and its allies won’t hesitate to use their sanctions powers to address Iran’s “malign and destabilizing activity” in the region. She made her remarks ahead of this week’s spring meetings of the International Monetary Fund and World Bank, saying Iran’s weekend missile attack on Israel “underscores the importance of Treasury’s work to use our economic tools to counter Iran’s malign activity.” She added: “From this weekend’s attack to the Houthi attacks in the Red Sea, Iran’s actions...