WASHINGTON, D.C. –  Yesterday, in the Annual Testimony of the Secretary of the Treasury on the State of the International Financial System in the House Financial Services Committee, Congressman Blaine Luetkemeyer (MO-03) questioned Secretary Yellen about sanctions against Russia in the wake of Putin’s attack on Ukraine, the need to prepare our economy for a possible Chinese invasion of Taiwan, her continued failure to appear before the House Committee on Small Business, and reckless comments from CFPB Director Chopra recently regarding FDIC insurance.

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On the delayed Russia sanctions and the need to prepare for a possible situation between China and Taiwan: 

“Instead of being reactive, we should’ve been proactive. We knew that the Russians were building three hospitals on the Ukrainian border, we knew they were going in and we yet did nothing until after the fact…

“There was a report in the newspaper last week that China was going into Taiwan this fall and they decided not to do it… we need to take it seriously. And if that’s the case… are you putting plans in place as the Treasury Secretary to come up with some deterrents with sanctions right now before they get in there and not wait until after they invade Taiwan?”