EXCERPT:
YELLEN: “Well, the president wants to make sure that gas prices remain affordable for Americans. Americans care a great deal about the price of gas. They're still down $1.20 of their highs last summer, although they have gone up recently. China's ended its pandemic lock downs. And although Chinese growth is slower than expected, China coming back online, and the continuation of the production cuts by Saudi Arabia has lifted oil prices somewhat. We're monitoring the situation very closely. The president has taken action over the last year. Certainly, the releases of oil from the Strategic Petroleum Reserve have been important in holding down oil prices. And we'll continue to monitor that closely.”