Yellen, Powell to meet with Indian officials on economic ties

FILE PHOTO: Treasury Secretary Yellen and Federal Reserve Chair Powell testify during the House Financial Services Committee hearing in Washington
FILE PHOTO: Federal Reserve Chair Jerome Powell attends the House Financial Services Committee hearing on Capitol Hill in Washington, U.S., September 30, 2021. Al Drago/Pool via REUTERS/File Photo

October 12, 2021

WASHINGTON (Reuters) – Treasury Secretary Janet Yellen and Federal Reserve Board Chairman Jerome Powell will meet with their Indian counterparts this week to address issues ranging from the economic recovery from the COVID-19 pandemic and financial regulation to climate finance, a senior Treasury official said.

The meeting will mark the eighth gathering of the U.S.-India Economic and Financial Partnership, and the first such event since the onset of the pandemic, the official said.

The meeting underscores the growing importance of the U.S.-India relationship, and increasing economic and financial ties between the two countries, the official said.

It will take place on the sidelines of the annual meetings of the International Monetary Fund and World Bank in Washington, which also includes a meeting of officials from the Group of 20 major economies, to which both countries belong.

U.S. and Indian officials will dedicate a session to climate finance, reflecting Yellen’s commitment to push for progress in combating climate change, and her view about the critical role climate finance can play in achieving that goal, the official said.

No further details were immediately available.

(Reporting by Andrea Shalal; Editing by Shri Navaratnam)