On the recordDecember 11, 2023
The price cap on Russian oil has significantly reduced Russian revenue over the last 10 months.
Source
congress.govThe price cap on Russian oil has significantly reduced Russian revenue over the last 10 months.
Yellen discusses the effectiveness of the price cap on Russian oil exports.
Share
More from Janet Yellen
I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs.
We certainly have proposed extending the Child Tax Credit, which was immensely helpful, and we are supportive of the legislation that has gone through the House.
The most recent and optimistic estimate I’ve seen suggested that the average household will see on the order of $1,000 reduction in income.