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Yellen says policymakers improving coordination on global economic challenges

WASHINGTON, Oct 14 (Reuters) – U.S. Treasury Secretary Janet Yellen said on Friday that many of the challenges facing the global economy stem from Russia’s “terrible war in Ukraine” and continued pandemic recovery, but policymakers are improving coordination to tackle them.

“Inflation is elevated in many countries. Growth is slowing globally. We are also seeing swings in capital flows and strong movements in financial markets,” Yellen said in remarks prepared for delivery at a news conference during the International Monetary Fund and World Bank annual meetings in Washington.

Yellen said that the U.S. economy remains resilient but inflation remains too high and bringing it down remains President Joe Biden’s top economic priority.

She also said global policymakers gathering in Washington agreed on decisive action on taming inflation, securing energy supplies and addressing other challenges.

“We are also attentive to the spillovers of…

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