“Our sanctions against Russia do have an impact on the cost of food and fuel,” RIA Novosti quoted her as saying.
In the near future, according to Yellen, a significant reduction in fuel prices in the US is not expected.
The head of the US Treasury said that US economic growth will slow down due to the events taking place in the world.
However, a recession should not be feared.
"I don't think we're in a recession," she concluded.
Earlier, Yellen said that inflation in the United States remains at an unacceptably high level, despite the measures taken by the American administration.
Member of the US House of Representatives Rick Allen expressed the opinion that the rise in fuel prices in the country is not related to the actions of the Russian authorities, but to the policies of President Joe Biden and his administration.
Prior to this, US Oil and Gas Association President Tim Stewart announced the worst energy crisis in the country in half a century.