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Treasury Secretary Yellen Says Overturning Roe v Wade Would Have ‘Damaging Effects’ on US Economy


In testimony before the Senate Banking Committee on Tuesday, May 10, Treasury Secretary Janet Yellen warned that overturning Roe v Wade would have a negative impact on the American economy and on women. Yellen was before the Senate to present the Financial Stability Oversight Council’s (FSOC) annual report to Congress. In footage streamed live by CSPAN, Yellen says, “Eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades.” Yellen said the landmark Roe v Wade decision “helped lead to increased labor force participation, enabled many women to finish school that increased their earning potential,” and “allowed women to plan and balance their families and careers.” In response, Republican Senator Tim Scott of South Carolina said, “I think people can disagree on the issue of being pro-life or pro-abortion, but in the end I think framing it in the context of labor force participation is, it just feels callous to me.” Yellen said she did not intend to be “harsh” with her comments, adding that “one aspect of a satisfying life is being able to feel that you have the financial resources to raise a child.” The committee also addressed sanctions against Russia, regulating cryptocurrency, inflation, and affordable housing, CSPAN said. Credit: CSPAN via Storyful

In testimony before the Senate Banking Committee on Tuesday, May 10, Treasury Secretary Janet Yellen warned that overturning Roe v Wade would have a negative impact on the American economy and on women. Yellen was before the Senate to present the Financial Stability Oversight Council’s (FSOC) annual report to Congress. In footage streamed live by CSPAN, Yellen says, “Eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades.” Yellen said the landmark Roe v Wade decision “helped lead to increased labor force participation, enabled many women to finish school that increased their earning potential,” and “allowed women to plan and balance their families and careers.” In response, Republican Senator Tim Scott of South Carolina said, “I think people can disagree on the issue of being pro-life or pro-abortion, but in the end I think framing it in the context of labor force participation is, it just feels callous to me.” Yellen said she did not intend to be “harsh” with her comments, adding that “one aspect of a satisfying life is being able to feel that you have the financial resources to raise a child.” The committee also addressed sanctions against Russia, regulating cryptocurrency, inflation, and affordable housing, CSPAN said. Credit: CSPAN via Storyful

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