Yellen Says US ‘Monitoring Carefully’ China’s Economic Woes but Sees No Significant Impact on US Economy

Treasury Secretary warned that East Asian countries may be affected by developments in China’s economy.

Treasury Secretary Janet Yellen delivers remarks on the Inflation Reduction Act after visiting the site of a new paperless processing initiative in McLean, Va., on Aug. 2, 2023. Stefani Reynolds/AFP via Getty Images

NEW DELHI—Treasury Secretary Janet Yellen says the United States is keeping a careful eye on the economic situation in China, but there is no reason to worry that it will have a significant effect on the United States.

Speaking at a Sept. 8 press briefing on the sidelines of the G-20 summit in India, Ms. Yellen said China faces a variety of short- and long-term economic challenges. She highlighted low consumer spending and long-standing problems in the property sector of China.