Yellen says gun violence has impact on economy, survivors By Reuters

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© Reuters. U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Commmittee hearing on President Biden’s 2023 budget, on Capitol Hill in Washington, U.S., June 7, 2022. REUTERS/Evelyn Hockstein

WASHINGTON (Reuters) – Gun violence has a negative impact on survivors and the U.S. economy, U.S. Treasury Secretary Janet Yellen told a U.S. Senate hearing on Tuesday, adding her hope that Congress would act to reduce gun violence soon.

Yellen told the Senate Finance Committee that economic research showed that events in childhood – such as school shootings – could have a lifelong impact on the psychological well-being and labor market participation of those involved.

“Of course it has a negative impact on these individuals and our economy,” Yellen said.

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