US Treasury Secretary Yellen believes that the winter will be “really hard” for Europe, while the difficulties for the US will be minor.
The United States is less affected by rising energy prices compared to European consumers, who are in for a “really difficult winter,” US Treasury Secretary Janet Yellen said on Thursday, September 22.
“Energy prices have skyrocketed in Europe. Winter will be really hard for them. Of course, we see the consequences, but we didn’t suffer as much as they did”, she said during a speech at the Atlantic Festival conference.
Yellen added that the US is working closely with its European neighbors to find alternative supplies. She also expressed confidence that they could handle it. The head of the Ministry of Finance also noted that despite the US trade with Europe, “we should not exaggerate” the impact of the economic situation in the EU on the US economy.
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