It's time for a new Bretton Woods

Free and fair global markets require shared values, says Yellen.

US Treasury Secretary Janet Yellen addressing the Atlantic Council in Washington on April 13, 2022. PHOTO: BLOOMBERG
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(FINANCIAL TIMES) - US Treasury Secretary Janet Yellen did something important and, for the most part, under-reported last week. She relinked trade to values.

In an address at the Atlantic Council in Washington, she called for a new Bretton Woods framework and a revamp of the International Monetary Fund and World Bank institutions, both of which are holding their annual meetings this week.

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