U.S. economy is 'doing well' amid global economic uncertainty, says Treasury Secretary Janet Yellen

Treasury Secretary Janet Yellen said Tuesday that the U.S. system was "doing precise well" arsenic rising vigor prices, Covid-19 variants and Russia's warfare with Ukraine person caught planetary markets successful a vice grip.

"From the position of the United States, I deliberation the United States is doing precise well," Yellen told CNBC's Sara Eisen Tuesday. The Treasury Secretary is gathering with satellite concern leaders astatine the International Monetary Fund and World Bank's yearly meetings this week successful Washington, D.C.

She said the system was expected to dilatory aft a precise beardown recovery, but a caller jobs report released past week revealed a "very resilient" economy.

Yellen acknowledged that ostentation is excessively precocious and that lowering it is simply a precedence for the Biden administration. But she said determination is simply a mode to bash that portion maintaining a steadfast labour market.

"Firms, adjacent with rising involvement rates, person indebtedness burdens that are by and ample manageable," Yellen said. She added that U.S. fiscal markets proceed to relation good and the Treasury is not seeing signs of deleveraging that mostly happens successful an situation of tighter monetary policy.

Yellen besides said the OPEC+ decision to trim lipid output and Russia's continued warfare against Ukraine person besides affected liquidity successful the markets, but determination are nary signs that merit superior concern. Worries astir the spot of the U.S. dollar are besides a earthy effect of antithetic paces of monetary tightening successful the U.S. and different countries, she said.

"The dollar is simply a harmless haven, truthful erstwhile times are uncertain, we acquisition superior inflows into our harmless markets," Yellen said. "And each of those things are pushing up the dollar vis a vis a wide scope of countries."