Yellen Lauds Harris, Calls for Continued US Global Leadership

(Bloomberg) -- Treasury Secretary Janet Yellen issued a warning over the risk of the US withdrawing from international engagement after the November election, and praised Vice President Kamala Harris as someone who appreciates American global leadership.

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Harris “deeply understands what’s necessary, and why it’s important, to restore US leadership on the global stage,” Yellen said at a press conference Thursday in Rio de Janeiro, where finance ministers from Group of 20 nations have gathered to discuss a range of global issues.

While the Treasury secretary cannot by law engage in direct election campaigning, Yellen offered her praise of Harris days after she became the presumptive Democratic nominee in the wake of President Joe Biden announcing his withdrawal from the race. Former President Donald Trump has staked out a starkly different international agenda than the current administration, raising questions about the level of engagement should the Republican win.

“Vice President Harris clearly, deeply understands what’s needed to make sure that families in America can thrive and can get ahead,” Yellen said in what bordered on an endorsement — even as she cited the Hatch Act that applies to executive branch officials and electioneering.

Asked how concerned she was over the possibility the next US administration may take an isolationist turn and abandon the policies she has pursued as Treasury chief, Yellen said global cooperation was deeply in the interest of Americans.

The policies she’s championed — including a global corporate tax deal and high-level engagement with China — are “important to the success of the global economy and to America’s strength and position within it,” she said.

Yellen emphasized the US condemnation of and sanctions against Russia, a posture that could change drastically should Trump win the White House.

“Most Americans of both parties recognize that allowing Russia to trample the independence and sovereignty of a country that has done nothing to provoke an attack is something that threatens not only Ukraine, but threatens Europe and our own security,” she said.

--With assistance from Viktoria Dendrinou.

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