35 Burst results for "Janet Yellen"

Janet Yellen: Roe v. Wade Reversal Would Damage the Economy

Mark Levin

00:41 sec | Last week

Janet Yellen: Roe v. Wade Reversal Would Damage the Economy

"Janet Yellen cut one go Well I believe that eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades Roe V wade and access to reproductive healthcare including abortion helped lead to increased labor force participation It enabled many women to finish school that increased their earning potential it allowed women to plan and balance their families and careers

Janet Yellen Roe V Wade
Sen. Tim Scott Responds to Janet Yellen's Pro-Abortion Comments

Mark Levin

01:55 min | Last week

Sen. Tim Scott Responds to Janet Yellen's Pro-Abortion Comments

"And here is his response cut to go Some of your comments in response to bob's question I found troubling And just from a clarity's sake did you say that ending the life of a child is good for the labor force participation rate Giving someone the let me just quote what you said that ultimately increasing access to abortion and reproductive healthcare allows for our labor force participation rate to continue to increase that denying women access to abortion increases their odds of living in poverty or need for public assistance to the guy who was raised by a single mom who worked long hours to keep us out of poverty I think people can disagree on the issue of being pro life or pro abortion but in the end I think framing it in the context of labor force participation is it just feels calloused to me I think finding a way to have a debate around abortion in a meaning for the economic stability of our country is harsh and I'm just surprised that we find ways to weave into every facet of our lives Such an important and painful reality for so many people to make it sound like it's just another .4% added to our labor force participation as a result of the issue of abortion just to me seems

BOB
Yellen Says Eliminating Abortion Rights Would Harm Economy

The Hugh Hewitt Show: Highly Concentrated

01:44 min | Last week

Yellen Says Eliminating Abortion Rights Would Harm Economy

"Roe V wade reversal would be very damaging the economy says Janet Yellen. I believe I've got that clip somewhere. Let me see where I can cut number 26th place. This is absurd. Certainly don't mean to. Say what I think the effects are in a manner that's harsh. What we're talking about is whether or not women will have the ability to regulate their reproductive. Situation in ways that will enable them to plan lives that are fulfilling and satisfying for them. And one aspect of the satisfying life is being able to feel that you have the financial resources to raise a child that the children you bring into the world are wanted and that you have the ability to take care of them in many cases, abortions are of teenage women, particularly low income and often black who aren't in a position to be able to care for children have unexpected pregnancies and it deprives them of the ability often to continue their education to later participate in the workforce. So there is a spillover into labor force participation, but it means that children will grow up in poverty and do worse themselves. Thank you. Let me just say that. The children will grow up is the operative phrase there, and that's

Roe V Wade Janet Yellen
Eric Chats to Charles Thorngren, CEO of Legacy Precious Metals

The Eric Metaxas Show

01:55 min | 3 weeks ago

Eric Chats to Charles Thorngren, CEO of Legacy Precious Metals

"He's the CEO of legacy precious metals. And here he is, Charles Thornton, welcome to the program. Thanks, Eric. Thanks for having me. Well, I know the basics, but I thought there was an article recently that I read where treasury secretary Janet Yellen was just talking about the economic chaos that lies ahead. I mean, I think most people know the economy is to use the technical term L stinko. And so, you know, your financial expert, how did we get to this place? And what can people do about it? Because people are asking me, and I don't have the answer. What should I invest in? It's a big question, but I think if we look and we really are honest about how we got here. It's several administrations worth of bad money management. We have run a deficit in this nation that's unsustainable for quite some time. And we've seen that become even hyper exaggerated with this new administration. With $9 trillion in debt, you put yourself in a situation where your dollar doesn't have the equity that it's supposed to. And ultimately, when we talk about our economy, we want to talk about the lives that we're living, how it affects us. The quality of our life. And that's what we lose by having a weakened dollar. We parlay that into our retirement accounts. And where we keep our money usually in the equities markets. The market is so over exaggerated in its value right now. From years and years of quantitative easing and free money and easy money that that has to come into play and be

Charles Thornton Janet Yellen Treasury Eric
"janet yellen" Discussed on The Trish Regan Show

The Trish Regan Show

01:32 min | Last month

"janet yellen" Discussed on The Trish Regan Show

"Janet Yellen had a few things to say on this. She's speaking of course at one of the IMF events and didn't interview actually on CNBC with Christina Lagarde and she seems to think that, you know, hey, everything, everything's going to be okay. Listen to her here. I don't expect a recession. Obviously, we are living in our time that's very challenging. And developments in Russia, Ukraine, and yeah, I don't know, is we're not going to have a recession. Wishful thinking, perhaps. On the part of the treasury secretary, I keep in mind she has the treasury secretary now, right? So she has to be, well, she has to carry a certain amount of water for the administration, of course, and nobody wants to talk about recession or recognize that that's a threat, but indeed it is. In fact, Goldman Sachs out recently with the report saying that there was a 35% chance of recession. You've seen a number of banks actually incidentally Deutsche Bank was another come out with increasingly increasing odds of recession. And so this is starting to become part of everybody's vocabulary. I actually think that the odds of recession are way higher and I'm putting them around 85%, 85% chance of recession because there's got to be a pullback in that people can not continue affording what we're seeing, gas prices, for example, food prices, and all of this is protected to grow, continually worse.

fed Janet Yellen Jerome Powell treasury Goldman Sachs IRA
Fed Chair Janet Yellen Says US Shouldn't Expect a Recession

The Trish Regan Show

01:32 min | Last month

Fed Chair Janet Yellen Says US Shouldn't Expect a Recession

"Janet Yellen had a few things to say on this. She's speaking of course at one of the IMF events and didn't interview actually on CNBC with Christina Lagarde and she seems to think that, you know, hey, everything, everything's going to be okay. Listen to her here. I don't expect a recession. Obviously, we are living in our time that's very challenging. And developments in Russia, Ukraine, and yeah, I don't know, is we're not going to have a recession. Wishful thinking, perhaps. On the part of the treasury secretary, I keep in mind she has the treasury secretary now, right? So she has to be, well, she has to carry a certain amount of water for the administration, of course, and nobody wants to talk about recession or recognize that that's a threat, but indeed it is. In fact, Goldman Sachs out recently with the report saying that there was a 35% chance of recession. You've seen a number of banks actually incidentally Deutsche Bank was another come out with increasingly increasing odds of recession. And so this is starting to become part of everybody's vocabulary. I actually think that the odds of recession are way higher and I'm putting them around 85%, 85% chance of recession because there's got to be a pullback in that people can not continue affording what we're seeing, gas prices, for example, food prices, and all of this is protected to grow, continually worse.

Janet Yellen Christina Lagarde Treasury Cnbc IMF Ukraine Russia Goldman Sachs Deutsche Bank
Yellen says new $500M is 'only the beginning' of Ukraine aid

AP News Radio

01:00 min | Last month

Yellen says new $500M is 'only the beginning' of Ukraine aid

"In in in in addition addition addition addition to to to to military military military military aid aid aid aid the the the the US US US US is is is is stepping stepping stepping stepping up up up up financial financial financial financial assistance assistance assistance assistance to to to to Ukraine Ukraine Ukraine Ukraine I'm I'm I'm I'm Brian Brian Brian Brian Thomas Thomas Thomas Thomas with with with with the the the the latest latest latest latest treasury treasury treasury treasury secretary secretary secretary secretary Janet Janet Janet Janet Yellen Yellen Yellen Yellen says says says says an an an an additional additional additional additional five five five five hundred hundred hundred hundred million million million million dollars dollars dollars dollars is is is is intended intended intended intended to to to to help help help help Ukraine Ukraine Ukraine Ukraine sustained sustained sustained sustained critical critical critical critical government government government government operations operations operations operations that that that that fends fends fends fends off off off off Russia's Russia's Russia's Russia's invasion invasion invasion invasion salaries salaries salaries salaries pensions pensions pensions pensions and and and and other other other other social social social social assistance assistance assistance assistance programs programs programs programs necessary necessary necessary necessary to to to to avoid avoid avoid avoid worsening worsening worsening worsening of of of of the the the the humanitarian humanitarian humanitarian humanitarian situation situation situation situation the the the the new new new new funding funding funding funding is is is is on on on on top top top top of of of of another another another another five five five five hundred hundred hundred hundred million million million million dollars dollars dollars dollars in in in in economic economic economic economic aid aid aid aid president president president president Biden Biden Biden Biden unveiled unveiled unveiled unveiled in in in in March March March March we we we we know know know know this this this this is is is is only only only only the the the the beginning beginning beginning beginning of of of of what what what what you you you you crane crane crane crane we'll we'll we'll we'll need need need need to to to to rebuild rebuild rebuild rebuild on on on on sanctions sanctions sanctions sanctions asked asked asked asked whether whether whether whether European European European European allies allies allies allies should should should should ban ban ban ban Russian Russian Russian Russian energy energy energy energy imports imports imports imports Europe Europe Europe Europe clearly clearly clearly clearly needs needs needs needs to to to to reduce reduce reduce reduce its its its its dependence dependence dependence dependence on on on on Russia Russia Russia Russia Yellen Yellen Yellen Yellen cautioned cautioned cautioned cautioned European European European European ban ban ban ban on on on on Russian Russian Russian Russian oil oil oil oil could could could could backfire backfire backfire backfire that that that that would would would would clearly clearly clearly clearly res res res res global global global global oil oil oil oil prices prices prices prices having having having having less less less less of of of of an an an an impact impact impact impact on on on on Russia Russia Russia Russia than than than than the the the the rest rest rest rest of of of of the the the the world world world world Ben Ben Ben Ben Thomas Thomas Thomas Thomas Washington Washington Washington Washington

Ukraine Russia Brian Brian Brian Brian Thomas Treasury Treasury Treasury Tre Yellen United States President President President Europe Yellen Yellen Yellen Yellen European European European Eur Ben Ben Ben Ben Thomas Thomas Washington
 Yellen, Ukraine official walk out of Russia's G-20 remarks

AP News Radio

00:41 sec | Last month

Yellen, Ukraine official walk out of Russia's G-20 remarks

"Russia's Russia's Russia's Russia's war war war war against against against against Ukraine Ukraine Ukraine Ukraine has has has has again again again again taken taken taken taken center center center center stage stage stage stage at at at at high high high high level level level level meetings meetings meetings meetings in in in in Washington Washington Washington Washington treasury treasury treasury treasury secretary secretary secretary secretary Janet Janet Janet Janet Yellen Yellen Yellen Yellen and and and and her her her her Ukrainian Ukrainian Ukrainian Ukrainian counterpart counterpart counterpart counterpart walked walked walked walked out out out out of of of of the the the the G. G. G. G. twenty twenty twenty twenty meeting meeting meeting meeting today today today today as as as as Russia's Russia's Russia's Russia's representative representative representative representative started started started started speaking speaking speaking speaking an an an an official official official official familiar familiar familiar familiar with with with with the the the the private private private private meeting meeting meeting meeting says says says says several several several several other other other other finance finance finance finance ministers ministers ministers ministers and and and and central central central central bank bank bank bank governors governors governors governors also also also also left left left left some some some some who who who who attended attended attended attended virtually virtually virtually virtually turned turned turned turned off off off off their their their their cameras cameras cameras cameras when when when when the the the the Russian Russian Russian Russian spoke spoke spoke spoke Yellen Yellen Yellen Yellen had had had had been been been been expected expected expected expected to to to to try try try try and and and and avoid avoid avoid avoid contact contact contact contact with with with with the the the the Russians Russians Russians Russians appearing appearing appearing appearing virtually virtually virtually virtually at at at at some some some some G. G. G. G. twenty twenty twenty twenty events events events events president president president president Biden Biden Biden Biden has has has has said said said said Russia Russia Russia Russia should should should should no no no no longer longer longer longer be be be be a a a a member member member member of of of of the the the the group group group group of of of of the the the the world's world's world's world's biggest biggest biggest biggest economies economies economies economies Sager Sager Sager Sager mag mag mag mag ani ani ani ani at at at at the the the the White White White White House House House House Russia's Russia's Russia's Russia's war war war war against against against against Ukraine Ukraine Ukraine Ukraine has has has has again again again again taken taken taken taken center center center center stage stage stage stage at at at at high high high high level level level level meetings meetings meetings meetings in in in in Washington Washington Washington Washington treasury treasury treasury treasury secretary secretary secretary secretary Janet Janet Janet Janet Yellen Yellen Yellen Yellen and and and and her her her her Ukrainian Ukrainian Ukrainian Ukrainian counterpart counterpart counterpart counterpart walked walked walked walked out out out out of of of of the the the the G. G. G. G. twenty twenty twenty twenty meeting meeting meeting meeting today today today today as as as as Russia's Russia's Russia's Russia's representative representative representative representative started started started started speaking speaking speaking speaking an an an an official official official official familiar familiar familiar familiar with with with with the the the the private private private private meeting meeting meeting meeting says says says says several several several several other other other other finance finance finance finance ministers ministers ministers ministers and and and and central central central central bank bank bank bank governors governors governors governors also also also also left left left left some some some some who who who who attended attended attended attended virtually virtually virtually virtually turned turned turned turned off off off off their their their their cameras cameras cameras cameras when when when when the the the the Russian Russian Russian Russian spoke spoke spoke spoke yell yell yell yell and and and and had had had had been been been been expected expected expected expected to to to to try try try try and and and and avoid avoid avoid avoid contact contact contact contact with with with with the the the the Russians Russians Russians Russians appearing appearing appearing appearing virtually virtually virtually virtually at at at at some some some some G. G. G. G. twenty twenty twenty twenty events events events events president president president president Biden Biden Biden Biden has has has has said said said said Russia Russia Russia Russia should should should should no no no no longer longer longer longer be be be be a a a a member member member member of of of of the the the the group group group group of of of of the the the the world's world's world's world's biggest biggest biggest biggest economies economies economies economies Sager Sager Sager Sager mag mag mag mag ani ani ani ani at at at at the the the the White White White White House House House House Russia's Russia's Russia's Russia's war war war war against against against against Ukraine Ukraine Ukraine Ukraine has has has has again again again again taken taken taken taken center center center center stage stage stage stage at at at at high high high high level level level level meetings meetings meetings meetings in in in in Washington Washington Washington Washington treasury treasury treasury treasury

Russia G. G. G. G. Washington Treasury Treasury Treasury Tre Yellen Russian Russian Russian Russia Group Group Group Yellen Yellen Yellen Yellen World's World's World's World Sager Sager Sager Sager Ani Ani Ani Ani White White White White House Biden Biden Biden Biden President President President Treasury Treasury Treasury Tre
Janet Yellen Blames Russia-Ukraine War for Rising Prices

The Trish Regan Show

01:23 min | Last month

Janet Yellen Blames Russia-Ukraine War for Rising Prices

"Turning right now to the administration's favorite talking point. It's Russia's fault. It's all Russia's fault. Her Janet Yellen came out with a speech today at the annual IMF meeting. And she said on the world stage and I quote price and supply shocks are already materializing, adding to global inflationary pressures, creating risks to external balances and undermining the recovery from the pandemic. I want to be clear Russia's actions are responsible for this. Are you kidding me? I mean, look, I mean, yes, Russia is going to be a huge problem economically in the future. We're already seeing, of course, the influence on Russian Nat gas and oil coming off the market in terms of oil prices having moved higher, but let me tell you, it's nothing yet, right? I predicted a buck $3030 that we might be seeing in terms of oil prices per barrel. And I think you could see $9 at the gas pump. So in other words, it hasn't even really happened yet. We've just had a few weeks of dealing with the price increases in pressure from Russia. Everything that we've got, that 8 and a half percent increase in inflation, the highest in what 40 years, the increase in wholesale prices highest ever, that's all on Joe.

Russia Janet Yellen IMF JOE
Treasury Sec. Janet Yellen Wants 'Decarbonize Our Economy'

The Charlie Kirk Show

00:53 sec | Last month

Treasury Sec. Janet Yellen Wants 'Decarbonize Our Economy'

"Janet Yellen, who is the treasury secretary, she wants to save the world and instead of actually talking about opening up America's oil and natural gas dominance. Instead of talking about how we will unleash the American entrepreneur, Janet Yellen is saying, well, we have to do is decarbonize our economy. Play cut 70. The recent IPCC reports confirm that our window of opportunity to leave our planet worthy of our children and our grandchildren is even closer to being permanently shut. We must redouble our efforts to decarbonize our economies. Recognizing the countries will use a range of tools, including carbon pricing, regulation, and subsidies to achieve needed emission reductions.

Janet Yellen Treasury Ipcc America
"janet yellen" Discussed on The Breakdown with NLW

The Breakdown with NLW

08:10 min | Last month

"janet yellen" Discussed on The Breakdown with NLW

"Today and use referral code breakdown to support the show. Her second lesson that she thinks can help serve as a compass as the government figures out its digital asset strategy is two. When regulation fails to keep pace with innovation, vulnerable people often suffer the greatest harm. This section I like a lot less. She says, we learn this painful lesson during the global financial crisis. Financial institutions called shadow banks and explosion of new financial products allow dangerous levels of risk to accumulate. She's not wrong that there were a set of dangerous new financial products, but it wasn't just from shadow banks. It was from the most vaunted and storied and prominent institutions in U.S. finance writ large. So the legacy of the great financial crisis looms large. She says the S&P 500 fell by more than half and household net worth dropped precipitously. The resulting economic distress was most acute and long-lasting for black Americans and other Americans of color. We need to ensure that the growth of digital assets does not allow similarly dangerous risks to emerge or lead to disproportionate impacts to vulnerable communities. And then she makes what I think is the most arguable statement in the entire piece. She's talking about the systemic risks of stablecoins and says, this is not hypothetical, a stablecoin run occurred in June 2021 when a sharp drop in the price of the assets used to back a stablecoin set off a negative feedback loop of stablecoin redemptions and further price declines. Blockwork says the treasury secretary was presumably referring to iron finances Titan token, which fell to near zero from a high of $65 in mid June 2021 after the iron stablecoin lost its peg to the U.S. dollar. It's not that I think it's illegitimate to look at a very small assets crazy death spiral as a risk factor in the crypto industry or the stablecoin space specifically. What I take issue with is the way that it's set up, clearly to make people think that she's talking about tether or USD C or one of these other multi-billion dollar stablecoins, which just isn't the case. Still, I think if we're just looking at this in the context of this speech, it's very clear that stablecoins are still in the skeptical spotlight. But then we get back on track in this positive shift in tone. Bullet three regulation should be based on risks and activities, not specific examples. She says, wherever possible regulation should be tech neutral. For example, consumers investors and businesses should be protected from fraud and misleading statements regardless of whether assets are stored on a balance sheet or distributed ledger. Similarly, firms that hold customer assets should be required to ensure those assets are not lost stolen or used without the customer's permission. And taxpayers should receive the same type of tax reporting on digital asset transactions that they receive for transactions and stocks and bonds so that they have the information they need to report their income to the IRS. This doesn't seem bullish outwardly, but it actually is quite meaningful. This is a principle that puts crypto and digital assets on an equal footing with financial assets and in that way says that they are no worse than those assets. There is also an implicit and explicit focus in this section on prosecuting bad actors rather than targeting the industry as a whole. The principle of tech neutrality she says is also applicable to concerns related to tax evasion illicit finance and national security. Topics that are particularly pertinent in the world today. It's illegal to evade taxes launder money or avoid sanctions. Doesn't matter whether you're using checks, wires or cryptocurrency. This is something that crypto advocates have been saying forever that these behaviors are the things that are criminalized and people can use any asset, to launder money. In fact, the U.S. dollar is the world's most popular asset for laundering money. To me, this section feels like the one that has had the biggest shift based on what they've seen and learned during the sanctions affair around the Russia Ukraine war. Bullet four, sovereign money is the core of a well functioning financial system in the U.S. benefits from the central role of the dollar and U.S. financial institutions play in global finance. This section starts with a four paragraph reflection on the history of the U.S. monetary system, but I think the real thing here is that Yellen and the administration are getting more comfortable just being clear about the real context for Central Bank digital currencies, which is the role of the dollar in the world. Quote, the dollars international prominence is strongly supported by U.S. institutions and policies. U.S. economic performance opened deep in liquid financial markets, rule of law, and a commitment to a free floating currency. As citizens of this country we derive significant economic and national security benefits from the unique role the dollar in U.S. financial institutions play in the global financial system. The president's executive order asks us to consider whether and how the issuance of a public CBDC would support this role. The 5th bullet is we need to work together to ensure responsible innovation and it's sort of not as significant as the other ones except in the point where the U.S. government is now positioning itself as something of a neutral arbiter between the people who are skeptical of crypto and the people who view it as radically and beneficially transformative. Indeed, they say, quote, such divergence of perspectives has often been associated with new and transformative technologies, which to me suggests that they lean inherently towards the positive side. So I gave you my take right at the beginning in terms of what I think it reflects as a shifting in tone. But let's see what some others in the community think. Jake stravinsky, the head of policy at the blockchain association, said secretary Yellen gave a speech on crypto today, and it was really good. She showed a nuanced understanding of the benefits and risks of responsible innovation, affirmed a tech neutral approach to regulation and clearly isn't trying to rush hasty new rules. Kristen Smith, who's the executive director of the blockchain innovation, has a similar take saying transformative isn't a word you often hear from government officials talking about crypto, but secretary Yellen to find her view on digital assets that way in a speech today. In our view, it's vital and necessary that treasury speaks on these issues, but if you are in the skeptic to anti crypto crowd, this speech plus the Biden executive order should provide a nudge away from FUD and into the camp of those who would like to see crypto thrive in the U.S.. Tony Edward the founder at thinking crypto news says with Biden's crypto executive order, Janet Yellen now focused more on innovation than FUD, Gary gensler asking other regulatory agencies for help and senator lummis and gillibrand's Bill, we are seeing senator Warren and Brad Sherman being disarmed. We're moving in the right direction. Now, I don't want to overstate the positivity here. There are still a lot of critiques, questions, inherent criticisms. This is far from a full throated embrace of digital assets. What's more we still have the lingering question about how much the Central Bank digital currency discussion is going to subsume in overwhelm the private non sovereign peer to peer cryptocurrency discussion. There are big assertions that I disagree with, like those that I pointed out around stablecoins, but with all of that said, the shift in tone is real. I didn't even mention it, but she talked at length about satoshi's innovation, solving the double spend problem, and acknowledging what that opens up as possibilities. For a less intermediated system. To me it reinforces that we are in a very liminal in between moment when it comes to crypto policy in the United States. There is still a lot of push and pull and give and take and a lot of opportunity to drive things in a beneficial way. Anyways, I'll wrap there, guys. Like I said, I'm really excited to dig into the inflation stuff with you tomorrow. But I do think this was the treasury secretary of the United States, if not a one 80 still a meaningful shift in tone around the digital asset space. And I think it was worth going in depth. So either you agree or you didn't and you want your 20 minutes back, but I can't help you there and I can only say that I appreciate you listening. I want to say one more quick thanks again to my sponsors nexo IO, arculus and FTX, and until tomorrow be safe and take care of each other. Peace. Hey breakdown listeners come join coin desks consensus 2022. The festival for the decentralized world this June 9th through the 12th in Austin, Texas. This is the only festival showcasing and celebrating all sides of blockchain, crypto ecosystems, web three, and the metaverse, and is designed for crypto newbies, investors, entrepreneurs, developers, and creators. Don't miss speakers like Kathy wood, SPF, CZ, punk 6 5 two 9 and Joe lubin to name just a few. Use code breakdown to get 15% off your pass at coindesk dot com slash consensus 2022..

U.S. Blockwork secretary Yellen Yellen treasury Titan Jake stravinsky blockchain association Kristen Smith IRS Tony Edward crypto news Janet Yellen Biden senator lummis government senator Warren Ukraine Russia
"janet yellen" Discussed on The Breakdown with NLW

The Breakdown with NLW

01:42 min | Last month

"janet yellen" Discussed on The Breakdown with NLW

"Intermediary who should be disrupted..

"janet yellen" Discussed on The Breakdown with NLW

The Breakdown with NLW

07:01 min | Last month

"janet yellen" Discussed on The Breakdown with NLW

"Welcome back to the breakdown with me and I'll W it's a daily podcast on macro Bitcoin and the big picture power shifts remaking our world. The breakdown is sponsored by nexo IO, arculus, NFTX. And produced and distributed by coin desk. What's going on guys? It is Tuesday, April 12th, and today we are recapping Janet Yellen's speech about crypto from last week and what it means in the context of the industry. Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it wherever you listen to podcasts, give it a rating, give it a review, or if you want to get deeper into the conversation. Come join us on the breakers Discord. You can find the link in the show notes or go to bit LY slash breakdown pod. Also, a disclosure, as always, in addition to them being a sponsor of the show, I also work with FTX. Now, as we dig into this topic, you may be asking yourself, wait a second, it's Tuesday. We just got the inflation print for last month, and it was really, really high. Why are you not talking about that? The short answer is that there are two answers. The first is that I'm on the last day of some travel and had this show prepared and needed to do it this morning just based on time constraints. But the second answer is that there are a lot of really interesting narratives and counter narratives flying around right now. People were really, really ready to be super, super upset at this inflation print. And there are a lot of folks who are wondering if we were going to actually hit double digits. Now in the minutes after the inflation print has come in and hit almost exactly what consensus predictions were with month over month CPI being even lower than expected, there's now a ton of jockeying for the narrative. And I want to give it a little bit of time to settle so that when I bring you that show tomorrow, the narrative battle lines are a little bit more clearly drawn. I think that's going to be the most valuable show. Also for what it's worth, I think that this speech was actually quite significant from Yellen, so I did want to make sure that we took some time to get into it. So this speech came from American university last Thursday and it had no title. It was just Janet Yellen on digital assets. And the TLDR that I'd like to convey on this speech is that it marks a shift in tone from Janet Yellen, the treasury secretary of the United States, of course. While Yellen has always previously given some amount of lip service to the potential for digital asset innovation, the tone from her speeches her public comments has always been about needing to wrangle it to get it within the government's purview to fight the crime around it. In fact, I think you could argue that at the beginning of the administration, she did a lot of work to resuscitate that crypto is for criminals narrative. Something now has clearly shifted. And I think there are a couple possibilities. The first is of course the Biden executive order. It has set a different type of tone for the administration overall, and there's probably some amount of getting in line with that. The second is the Russian war in Ukraine. The Treasury Department has in the context of this conflict had to go deep into on chain analysis. As relates to sanctions and have come out publicly over and over again, saying that crypto isn't being used for sanctions evasion. There's been a sense in the crypto industry for a while that the national security apparatus of the United States has long been much more fine with the state of blockchain traceability than perhaps other offices have. And maybe that line of thinking is winning in the context of an applied situation where people's worst fears about crypto aren't being realized. Anyway, let's get into the specifics and then we'll come back to this discussion about why this change might have happened. So the setup of the speech is basically the executive order itself. Yellen says that we're going to be spending the next 6 months exploring the digital asset space guided by 6 policy objectives, protecting consumers investors and businesses, safeguarding financial stability from systemic risk, mitigating national security risks, promoting U.S. leadership and economic competitiveness, promoting equitable access to safe and affordable financial services and supporting responsible technological advances, which, quote, take account of important design considerations like those related to privacy, human rights, and climate change. Now, an important part of this intro section is that she also up sizes the narrative of crypto by connecting the dots to larger Internet changes. She says digital assets may be relatively new, but they are part of a larger trend. The digitization of finance that has been in the making for decades. In 1990, there were fewer than 3 million Internet users. Now there are about 4.5 billion and we take for granted that many aspects of our financial lives can be managed from small Internet connected devices that fit into the palms of our hands. Again, if you're trying to diminish crypto, you don't make that explicit connection to the larger Internet trend. You just sort of view it and try to isolate it in its own terms. From there, Yellen constructs the speech around 5 lessons. She says, I won't predict where this work, the work of the next 6 months around the executive order will take us, but she says that does not mean we are navigating without a compass. And here are her 5 lessons, the first is one our financial system benefits from responsible innovation. There are two important things that she does in this section. The first is recognizing the importance of private sector innovation on the financial system. She says in the 1960s an engineer from IBM attached a magnetic strip to a plastic card and sparked a new category of payment products. Those innovations facilitated the growth of other technologies like ATMs which made cash available 24/7. More recently, computers the Internet and mobile phones have driven the explosive growth of electronic payments and online commerce. One of the arguments that you hear most consistently from advocates for crypto and digital assets role in the larger financial system is this recognition that in the U.S., financial innovation has tended to come from the private sector and then be absorbed in some way meaningfully into the public sector. This is something that Jeremy lair from circle talks about constantly. Yellen is giving lip service at least to that sort of sentiment. The other important part of this first section is that it is an explicit recognition of some of the problems of the existing system. She says that transactions take too long to settle and calls it a combination of technological factors and business incentives that have quote produced a common frustrating experience shared by tens of millions of Americans every week. Their employer sends the paycheck, but it takes up to two days for the check to hit their bank account. The cost of that is of course payday lenders. And Yellen points to estimates that Americans spend 15 billion or more, which she calls a tax of about a $100 per working American do mostly to inefficiency and disproportionately borne by people with lower incomes. She also makes the jump from those payday lenders in America to the challenges of intermediaries in the context of remittances as well. Again, one shift here is that in the past you've seen some of the official institutions of power actually reify and validate the importance of intermediaries in the financial system. And while Yellen hasn't turned away from that entirely, she's definitely identifying that there.

Yellen Janet Yellen nexo IO America American university Treasury Department Biden treasury Ukraine Jeremy lair government IBM
"janet yellen" Discussed on Squawk Pod

Squawk Pod

08:32 min | 2 months ago

"janet yellen" Discussed on Squawk Pod

"As we've been talking about to all morning, the big news this morning, President Biden, the announcing a joint task force who bolster energy security for Ukraine and the European Union, the primary goal to diversify supply of LNG and curb Europe's reliance on Russia for its energy joining us right now in an exclusive interview this morning is treasury secretary Janet Yellen secretary. Thank you for joining us. My pleasure. Thanks for being here. So as we were just discussing energy is the big topic and want to understand from you how you reconcile the administration's climate goals right now with what clearly is a shift in posture around energy and fossil fuels. Well, the climate goals are very important and there's no change in that. If anything, seeing what's happening because of our dependence on global markets for oil and to some extent natural gas just emphasizes the importance of making the transition that will shield us from events in Russia, global developments that can negatively impact our oil markets, we really want to move and see the need all of us the United States and our allies to move quickly to renewables that will give us a safer and more independent energy picture. But clearly in the short term, that's not going to work, including there's going to be an effort to push for more fossil fuels. Jamie Dimon, JPMorgan, CEO, telling the administration that they need to create a Marshall plan around fossil fuels and energy. What do you think of that? Well, I don't really want to get into what happened in a private meeting, but I certainly agree that we are looking very carefully at the global energy situation, we have banned Russian oil imports from the United States, but are dependent is in very high. We recognize how important Russian oil and natural gas imports are for our European partners and the recognize and we recognize how important it is to reduce that dependence to the maximum extent possible in the short run, which goes to this morning's announcement by President Biden about our enhanced cooperation on LNG. But it's not possible to completely eliminate that dependence search. Do you think the investor class has to rethink its position on fossil fuels? And I say that only because there has been a real shift towards ESG over the past several years. And whether that idea needs to be suspended to some degree relative to what's happening now and the national security issues that it is either creating or has created. I don't think that the ESG movement ends the emphasis on climate change is creating the problems that we have, if anything, the problem is that we haven't moved as rapidly as we should have Europe and the United States would be less exposed to the pressures that this conflict is putting on our energy markets if we had greater reliance on renewables. So that remains firmly appropriate as medium and longer term goal, but in the short run our ability to punish Russia for really the horrific acts that they're committing in Ukraine. And to degrade their power and influence in the world economy. It would be greater if there were less dependence on Russian oil. But in the immediate term. One of the things that's happening in the United States, for example, is the SEC just put out a notice about proposals around climate disclosure. Do you think some of those policies shift in terms of either timing or otherwise as a result of what we're seeing right now? So I was shortened to see the SEC proposal. It's something that the financial stability oversight council has focused on our partners around the world. And the investing community. Really want information that can guide their investments. You see increasing number of American investors, including banks that have commitments to net zero by 2050, and they need the kind of information that's consistent and transparent to let them make investment decisions. Those goals haven't changed the need for globally comparable information remains a high priority and I think the SEC is crafted a very good proposal. I was really very pleased to see them put it out. Let me ask you a question about globalization. Larry Fink this week said globalization may be over and that this war between Russian Ukraine has become a flashpoint and that American companies doing business in certain countries potentially even China and I'm thinking about big companies like Apple that are doing business there, clearly China appears to be an ally of Russia may have to rethink where they're doing business. What do you tell American business leaders this morning? Who are thinking about where their supply chains come from and the politics of where those supply chains come from? Well, we do have to in this is not just because of the Russian Ukraine situation, but this became evident in the pandemic that may be American businesses have focused on efficiency and organizing supply chains in ways that lower costs but impair resilience and resilience of supply chains is a high priority for the administration and so to an extent that will lead to some reallocation of where much of that is about resilience, which was an issue we talked about in the context of the pandemic versus politics and national security. Well, national security is also important and we recognize the need to consider having an appropriate trade policy that protects our national security interests. But when you say this may be the end of globalization or something that extreme, I really have to push back on that because we're deeply involved in the global economy. I expect that to remain it is something that his brought benefits to the United States and many countries around the world and we certainly don't want to go to a system in which the United States is loses loses those benefits. So there may be some rethinking to promote national security. You've put a number of sanctions, obviously, on Russia, but would you consider sanctions on China as an ally of Russia at this point? So I don't think that that's necessary or appropriated at this point. We have senior administration officials are talking privately and quietly with China to make sure that they understand our position, we would be very concerned if they were to supply weapons to Russia or to try to evade the sanctions that we've put in place on the Russian financial system and the Central Bank. We don't see that happening at this point. And it's really up to China to make sure that they understand the complex situation that they face. Becky has a question for you. Thanks, Andrew. It's very good to see you, secretary Yellen. It's just a question about how the economy is faring right now because the markets have been kind of roaring higher on some of the economy and then there are these questions about inflation and what the fed does next. You see the tax receipts coming in every day, is there any sign of weakness.

President Biden Russia Janet Yellen Ukraine United States SEC Jamie Dimon financial stability oversight Europe JPMorgan European Union Larry Fink treasury Marshall China Apple secretary Yellen Central Bank Becky Andrew
"janet yellen" Discussed on Squawk Pod

Squawk Pod

02:31 min | 2 months ago

"janet yellen" Discussed on Squawk Pod

"Joe kernan, Andrew Ross Sorkin is live in D.C.. He's got that big beautiful capitol building behind him and Andrew. Got a big interview coming up today too. Good morning. Good morning. We do have a big interview just a little bit later this morning. I'll be live at the Treasury Department building to interview secretary Janet Yellen so much to talk to her about, including the sanctions on Russia, some of the news we're going to be talking about in just a moment overnight in terms of what President Biden has agreed to, providing more energy to Europe and we'll talk inflation. We'll talk economy. We'll probably talk a little crypto and so much more lots of news. I imagine we'll be made. If you take a look at crude oil prices, crude has been up this week. Up by about 7.3% for the week. It's down right now by about one and a half percent on the day. Guys, I don't know if you'd seen it. Triple-A, natural gas, the average is now at $4.236 a gallon. That is near a record from where we were. It's down from a week ago, but that is still up for about 47% from where we were a year ago. Joe? Yeah, we didn't mention crypto. Maybe mention it this way. If you're paying for gas with Bitcoin, it's like really cheap. Got a little cheaper. At 44,000 on Bitcoin. So that has moved slowly, making that crypto has been making its move back above 40 and almost got to 45. So that has been moving higher recently as low as 33 or 34, not too long ago. That may be the by the way, Katie Stockton actually talking about it. Almost as the dog to the S&P to the S&P's tail, which I thought was a little bit weird. She didn't say that crypto was the tail too. To the S&P dog, it was vice versa. Bitcoin actually is providing kind of cues for the S&P 500. We saw it corrective phase late last year in soup before the corrective phase in the S&P 500. Bitcoin has stabilized, of course, it's seen a loss of downside momentum after nearly having itself. And that support around 38,000 is a very important level. We're glad to see it having held except it does not mean that it's in the clear here. We have a loss of long-term upside momentum behind all risk assets, and that tells us that this year is probably more of a rage bound year. We're liking it to somewhat of 2018 where for the S&P 500, we saw a corrective phase earlier in the year, the big sort of midyear relief rally, and then a massive correction at yearend..

Joe kernan secretary Janet Yellen President Biden Andrew Ross Sorkin Bitcoin Treasury Department Katie Stockton D.C. Andrew Russia S Europe Joe
"janet yellen" Discussed on Cape Up with Jonathan Capehart

Cape Up with Jonathan Capehart

07:02 min | 2 months ago

"janet yellen" Discussed on Cape Up with Jonathan Capehart

"I'm Jonathan capehart and welcome to capehart. The Russian invasion of Ukraine has led to significant global sanctions against Russia, its leaders in oligarchs. Smack in the middle of the United States effort is treasury secretary Janet Yellen. We have isolated Russia, financially, the ruble has been in a freefall, the Russian stock market is closed, Russia has been effectively shut out of the international financial system in this conversation for us recorded on March 10th for Washington Post live, secretary Yellen talks more about how the sanctions work, we also discuss record high inflation and gas prices hitting American consumers and she tells me when we'll be able to pay for things with a Harriet Tubman $20 bill. Secretary Yellen, thank you for coming to Washington Post live. Thanks so much for inviting me, Jonathan. Nice to be with you. So let's start with some a little bit of breaking news a few hours ago. The British announced sanctions against Roman Abramovich, the Russian oligarch who also owns the Chelsea football team, which he was trying to sell, but can't now because of the sanctions. Will the United States follow suit? Well, we have a list of individuals, Russians, on whom we have imposed sanctions and a further group of individuals that we're considering. So the names continue to be added to the sanctioned list and I don't want to talk about any specific individual, but certainly this is one of the ways in which we're trying to punish Russia for what they've done and make it clear to the older guards who are have been supporting president Putin and providing support for him to conduct this war that this is something that is in the atrocity and that we with our allies will take actions to raise the cost to them and hopefully they will express their views to president Putin as a consequence. Madam secretary, when your deputy, deputy secretary, Wally adeyemo is here last week, another round of sanctions were announced while we were discussed while we were talking against Russian officials, oligarchs, family members and associates, would you like to announce any more right now or at least you just mentioned that there are a list of people and organizations are considering might we see a new announcement today or this week? Well, we continue to work very closely with our allies to consider sanctions, certainly at this point we're not seeing Russia back off the horrific war that they've started in unprovoked invasion of Ukrainian homeland and in fact the atrocities that they're committing against civilians seem to be intensifying. So it's certainly appropriate for us to be working with our allies to consider further sanctions. But it's important to understand that we have already had a very devastating impact on Russia. We have isolated Russia, financially, the ruble has been in a freefall the Russian stock market is closed Russia has been effectively shut out of the international financial system and the war chest that Russia amassed over 600 $1 billion in Central Bank reserves that I think it hoped to use to cushion any blow to the Russian economy, the actions that we have already taken against Russia's banks and particularly against the Central Bank of Russia with many of our allies participating in that has made those reserves all but unusable. So the Russian economy will be devastated as a consequence of what we've already done, but we do consider continue to consider further steps we can take. But madam secretary, given the litany of things you just mentioned about the Russian economy, is it safe to say that the Russian economy is in freefall? It's certainly experiencing a very severe contraction and I don't want to make the forecast for what will happen to the Russia Russian economy over the coming year, but it is certain to contract meaningfully. And over the medium and longer term, we have put in place export controls that will deprive Russia of the advanced technologies, the semiconductors, and other things that they need to continue to advance economically and to fortify their defenses and so our longer term impact will also be negative degrading Russia's ability to Project Power and continue to threaten its neighbors. Madam secretary, is there any concern that the severe contraction of the Russian economy that you're talking about will have an impact on our European allies or even on the United States itself, economically? There are certain to be an effect on the United States and also one Europe. But let me say we have worked very closely with our allies, first of all, to be aligned about the sanctions because that means that they have a much greater effect. And we have been united in what we've done. And we've designed the sanctions so that they will have the maximum negative effect on Russia while to the extent possible a shielding the United States and Europe from negative consequences, but will there be some negative consequences, of course. And I think that unavoidable. And look, you know, the worship economy is the 11th largest it worship is a major exporter of.

Russia president Putin Jonathan capehart capehart Janet Yellen secretary Yellen Secretary Yellen Washington Post Wally adeyemo United States Harriet Tubman Roman Abramovich treasury Central Bank of Russia Jonathan football Central Bank Europe
Inflation Isn't Going Away Anytime Soon. Who's to Blame?

The Dinesh D'Souza Podcast

02:00 min | 2 months ago

Inflation Isn't Going Away Anytime Soon. Who's to Blame?

"Inflation, which had previously pushed past 7% as now moved up to almost 8%. The latest figures just out, inflation rises to 7.9% in February, the highest in four decades. So it seems like every month now we have the highest, the highest, the highest. Why? Because it's higher this month than it was last month and it's higher last month than it was the month before. And I just saw Janet Yellen from the Federal Reserve basically saying, hey, this is something that is going to be something we're going to be living with. Certainly for the rest of the year. And Jen Psaki says we're kind of hoping things will moderate by the end of the year, but that can be taken as propaganda. It's more an expression of the Biden administration's wishful thinking than anything else. Inflation here is being driven by a series of factors, all kind of coming together. I would say there are two that are paramount. One of course is the big reckless spending of the Biden administration itself. Essentially, when you print money, you get inflation, and that's the domestic cause of inflation. And then the secondary cause is global instability. When you have constraints on oil supplies, and now the United States is not buying oil from Russia, we're going to buy supposedly from Venezuela and from Iran. But again, if you say I'm not going to buy it on the world market, the cheapest place I can find it, it generally means you're going to end up paying more. And we see energy prices soaring. That's a major driving factor in inflation. And we're seeing that then percolate into the prices of everything. I mean, we're not just talking about paying higher gas prices at the pump, but of course it takes fuel to bring food deliveries it takes fuel to deliver furniture. It takes fuel to operate hotels and motels, and so we see prices rising across the

Biden Administration Janet Yellen Jen Psaki Federal Reserve Venezuela Russia Iran United States
Congress sends Biden $2.5T debt limit hike, avoiding default

AP News Radio

00:42 sec | 5 months ago

Congress sends Biden $2.5T debt limit hike, avoiding default

"Congress Congress averts averts a a debt debt default default sending sending a a two two point point five five trillion trillion dollar dollar increase increase in in the the nation's nation's borrowing borrowing authority authority to to president president Biden Biden Democrat Democrat majorities majorities in in both both chambers chambers voted voted for for it it over over a a lockstep lockstep Republican Republican opposition opposition capping capping a a marathon marathon day day the the house house gave gave final final approval approval to to the the legislation legislation early early Wednesday Wednesday morning morning on on a a near near party party line line vote vote to to twenty twenty one one to to two two oh oh nine nine defusing defusing of of Bala Bala tile tile issue issue until until after after the the twenty twenty twenty twenty to to mid mid term term elections elections the the action action came came just just hours hours shy shy of of a a deadline deadline set set by by treasury treasury secretary secretary Janet Janet Yellen Yellen warned warned last last month month that that she she was was running running out out of of maneuvering maneuvering room room to to avoid avoid the the nation's nation's first first ever ever default default I'm I'm Julie Julie Walker Walker

President President Biden Bide Congress House House Treasury Treasury Janet Janet Yellen Yellen Julie Julie Walker Walker
Senate votes to raise debt limit by $2.5T, avoiding default

AP News Radio

00:43 sec | 5 months ago

Senate votes to raise debt limit by $2.5T, avoiding default

"Hi hi Mike Mike Rossi Rossi a a reporting reporting the the Senate Senate votes votes to to raise raise the the debt debt limit limit by by two two point point five five trillion trillion dollars dollars avoiding avoiding a a default default and and this this hurt hurt the the ETS ETS are are fifty fifty the the nays nays are are forty forty nine nine and and the the joint joint resolution resolution is is passed passed the the Senate Senate approved approved legislation legislation to to lift lift the the nation's nation's debt debt limit limit Tuesday Tuesday under under a a deal deal struck struck by by party party leaders leaders the the measure measure increases increases the the debt debt limit limit by by two two point point five five trillion trillion dollars dollars until until after after next next year's year's mid mid term term elections elections the the party party line line vote vote came came just just one one day day ahead ahead of of a a deadline deadline set set by by treasury treasury secretary secretary Janet Janet Yellen Yellen who who had had warned warned he he was was running running out out of of options options to to avoid avoid what what would would be be the the nation's nation's first first ever ever default default the the measure measure now now goes goes to to the the house house where where approval approval is is needed needed before before it it goes goes to to president president Joe Joe Biden's Biden's desk desk for for his his signature signature Mike Mike Rossi Rossi up up Washington Washington

Senate Mike Mike Rossi Rossi Nays Party Party Treasury Treasury Janet Janet Yellen Yellen House House President President Joe Joe Bi Biden Washington Washington
The Unconstitutionality of the Democrat Billionaire Tax

The Hugh Hewitt Show: Highly Concentrated

02:35 min | 7 months ago

The Unconstitutionality of the Democrat Billionaire Tax

"Brian, good morning to you. I tweeted last night a Washington Post story that is about the Democrats tax on billionaire targeting the ten wealthiest American. Now, I actually think that's unconstitutional. That's a bill of attainder that is prohibited by the constitution. I don't think it will fly. In fact, I'm beginning to take the whole thing is going to be unconstitutional because they're targeting ten companies in ten people. What do you think about that? As an economic matter. Yeah, well, first of all, about the constitutionality, I'm not I'm obviously I'm not a lawyer, I'm not a constitutional scholar, but that was the first thing I thought. This is crazy. If you actually own, let's just say you were a trillionaire ramp. And you own cattle, you own land. And then Janet Yellen wanted to come and take 2% away of your wealth away. What would she start doing? Like, taking away the legs, the cattle, the corner piece of this land, you're making new fat. What would she do with all that? And this is, I mean, I'm not being I'm not trying to be humorous about this. This is really serious. You're taking away the thing that creates the wealth. And then let's just let's just go even further. Let's just say, okay, all we're going to do is take away the stock that they are. We don't want the legs of the cattle. We just want the pieces of paper of the stock and the capital gains that they made. And really what they're going after is unrealized gains. So they haven't even been nobody's made anything yet. Well, here's this is interesting because interest rates are so low that for the foreseeable future, there will be no capital gains or anybody that owns let's say a treasury bond. There were capital gains back in the 80s and 90s. Now there won't be any penalty for owning government debt, but there is a penalty for owning private equity. And stock shares of stock. So really this is a tax on only the wealth that is put into private companies.

Janet Yellen Washington Post Brian
Treasury Secretary Janet Yellen Says Taxing 'Unrealized Capital Gains' Is a Possibility

The Charlie Kirk Show

01:43 min | 7 months ago

Treasury Secretary Janet Yellen Says Taxing 'Unrealized Capital Gains' Is a Possibility

"Treasury secretary Janet Yellen has just proposed something that is so beyond anything that we have seen in the tax realm, it is, it is something that deserves outrage and we need to contact our officials and we have to say this is a no go zone. I actually think even the most moderate Republican won't go for this. I really do. I think moderate Democrats as well. And this was kind of just like snuck in and of course, I think she's on CNBC, right? The charlatans on CNBC, of course, didn't say anything. The play cut three, I want you to listen to this. I totally understand if you don't really understand the implications of this. So I'll help you through it. But once you once you kind of see the whole picture, this is we've never had a tax proposal like this, not even Elizabeth Warren. Has proposed anything like this, play cut three. Senator wyden in the Senate finance committee have been looking at that would impose a tax on unrealized capital gains on liquid assets held by extremely wealthy individuals, billionaires. Unrealized capital gains. So what would that be? If your home appreciates $50,000 in value, you now have to pay the gains on that asset. Now, she says liquid assets, that's a bunch of nonsense. So if you make any money in the stock market and you don't sell that stock, she's now saying, no, you should still have to unrealized meaning you have not yet sold that you haven't yet liquidated. You haven't yet realized that game. Do you know how many unrealized gains people have? In every single capacity, you would have to take an inventory of your art of your clothes of every

Janet Yellen Cnbc Senator Wyden Senate Finance Committee Treasury Elizabeth Warren
Treasury Secretary Janet Yellen Is Building an Army of IRS Auditors

Mark Levin

01:45 min | 7 months ago

Treasury Secretary Janet Yellen Is Building an Army of IRS Auditors

"Ladies and gentlemen they don't need 85,000 new auditors to get billionaires and millionaires There aren't enough billionaires and millionaires for $85,000 It aimed at you and I'll prove it to you again Because they want every transaction involving $600 to be monitored by the Internal Revenue Service That's not the case right now $600 Well you're not going to catch tax cheats with a $600 transaction This is just a way to get the foot in the door so they can spy on you and threaten you That's what we're talking about So here's Janet Yellen on CBS evening news last evening And she's asked about this by Nora O'Donnell Let's go to cut 8 Go You want banks to report transactions of $600 or more That's what the IRS wants Does this mean that the government is trying to peak into our pocketbooks If you want to look at $600 transactions Absolutely not I think this proposal has been seriously mischaracterized The proposal involves no reporting of individual transactions of any individual Look yes it does What are you talking about Yes it does A $600 transaction They want to be able to Monitor it And the banks have to report it What is she talking about These people on this administrator they lie worse than your typical American Marxist

Janet Yellen IRS Nora O'donnell CBS Government
"janet yellen" Discussed on AP News

AP News

02:51 min | 7 months ago

"janet yellen" Discussed on AP News

"Sweeping changes in how multinational companies are taxed The prime goal of the complex discussions is to deter global companies from stashing profits in countries where they pay little or no tax better known as tax havens the sweeping deal was agreed on Friday among 136 countries in talks overseen by the organization for economic cooperation and development the most important feature is a global minimum tax of at least 15% That was a key initiative pushed by president Joe Biden and treasury secretary Janet Yellen Yellen says the minimum tax will end a decades long race to the bottom due to countries cutting tax rates I'm Charles De Ledesma Amid the wild swings of the pandemic job market the government's September employment report showed employers added 194,000 jobs in normal times a decent monthly gain but short of expectations When COVID-19 hit in March of last year it triggered a short harsh recession that erased 22 million jobs since then employers have added back 17 million as huge infusions of federal aid but money in people's pockets in the rollout of vaccines gave many of the confidence to return to shops restaurants and bars Until the delta variant erupted From January through July private sector businesses added an average of more than half a million jobs per month But last month that dropped to 317,000 Still two positive numbers jump out The Labor Department revised up its hiring estimate for July and August by 169,000 in the unemployment rate dropped to 4.8% Ben Thomas Washington Iraq's elections on Sunday come with enormous challenges Iraq's economy has been battered by years of conflict endemic corruption and more recently the coronavirus pandemic state institutions are failing while the countries infrastructure crumbles as well powerful paramilitary groups increasingly threaten the authority of the state and hundreds of thousands of people are still displaced from the years of war while few Iraqis can expect meaningful change in their day to day lives the parliament elections will shape the direction of Iraq's foreign policy at a key time in the Middle East including as Iraq is mediating between regional rivals Iran and Saudi Arabia I am Charles De Ledesma If you've got a personal auto insurance question you could talk to a cab driver although the policies he recommends might include avoiding the interstate beating traffic by taking the back roads and only making left turns when absolutely necessary Or you could talk to your local Geico agent whose policy is to use their expertise to navigate your insurance finding the best route to help you save money on insurance for your home car and.

Charles De Ledesma organization for economic coop president Joe Biden Janet Yellen Yellen Ben Thomas Washington Iraq treasury Labor Department government parliament Middle East Saudi Arabia Iran Geico
A Global Deal Aimed at Ending Tax Havens Gains Momentum

AP News Radio

00:47 sec | 7 months ago

A Global Deal Aimed at Ending Tax Havens Gains Momentum

"Global talks who forged a deal on sweeping changes in how multinational companies are taxed the prime goal of the complex discussions is the total global companies from stashing profits in countries where they pay little or no tax better known as tax havens the sweeping deal was agreed on Friday among one hundred thirty six countries the talks overseen by the organization for economic cooperation and development the most important feature is a global minimum tax of at least fifty percent that was a key initiative pushed by president Joe Biden and treasury secretary Janet Yellen Yellen says the minimum tax will end a decades long race to the bottom two two countries cutting tax rates I'm Charles the

Organization For Economic Coop President Joe Biden Janet Yellen Yellen Treasury Charles
Treasury Secretary Janet Yellen Says There Should Be No Check on Spending

Mark Levin

01:57 min | 8 months ago

Treasury Secretary Janet Yellen Says There Should Be No Check on Spending

"Janet Yellen is the treasury secretary Prior to that she was head of the fed She is an irresponsible big spending leftist And I want to show you why I want you to listen to this and then I want to break it down She was at a hearing today and let's go to cut a mister producer go Secretary Yellen without getting into the specifics of mister foster's Bill would you support simply eliminating the debt ceiling so that we don't have to deal with this in the future and can focus on real crisis Yes I would because I believe when Congress legislates expenditures and puts in place tax policy that determines taxes those are the crucial decisions Congress is making and if to finance those spending and tax decisions it's necessary to issue additional debt I believe it's very destructive to put the president in myself The treasury secretary in the situation where we might be unable to pay the bills that result from those past decisions Okay This is important to understand She's saying there should be no limit on the debt There should be no check on spending If Congress passed a spanning in a president signs that that's good enough And so you can have a Congress and a president pass massive mass suspending bills that will tie the hands of future congresses and presidents and more importantly the public For generations to come The reason they don't like the debt ceiling issue is because it forces them to make decisions

Janet Yellen Secretary Yellen Mister Foster Treasury Congress FED
Powell says spike in inflation lasting longer than expected

AP News Radio

00:53 sec | 8 months ago

Powell says spike in inflation lasting longer than expected

"The chairman of the federal reserve says the current spike in U. S. inflation is larger and more persistent than expected in remarks prepared for a congressional hearing fed chairman Jerome Powell says the economy and consumer spending are on the rebound but there's a bird pressure on pricing in some cases it's due to bottlenecks in the supply chain and hiring shortages consumer prices have been posting twelve month gains as high as five point four percent Powell says although inflationary conditions are larger and longer lasting than anticipated he expects the conditions will ease if not the fed has tools to lower pricing pressure Powell and treasury secretary Janet Yellen will likely face tough questioning especially from Republican lawmakers about inflation Jackie Quinn Washington

Jerome Powell Federal Reserve U. Powell Janet Yellen Treasury Jackie Quinn Washington
"janet yellen" Discussed on WTVN

WTVN

01:32 min | 1 year ago

"janet yellen" Discussed on WTVN

"You have to have fewer people the classroom, you have to have ventilation systems that have been reworked, Mr Biden, saying if average can make up for lost time. Next year, we'll be able to watch the Super Bowl with a full stadium. The president to CBS is Norah O'Donnell, Chuck's Iverson, ABC, New and Sunday Night Super Bowl. The Tampa Bay Buccaneers defense kept the high octane Kansas City Chiefs offense out of the end zone and on 31 to 9 drubbing that mark quarterback Tom Brady's seventh career win in the big game. Capitol Hill Democrats are looking to fast track President Biden's nearly $2 trillion pandemic relief measure. Treasure Secretary Janet Yellen says they're still trying to set the income threshold for direct payments wouldn't want to see, um household making over $300,000 received these payments. But if you think about an elementary school teacher Policemen making $60,000 a year. The secretary on state of the Union on CNN Republicans don't like the price tag, particularly after the Congressional Budget Office delivered positive economic projections Now that covert vaccination efforts were picking up Mississippi Senator Roger Wicker, the economic projections From this bipartisan group. Argue against something the size of a $1.9 trillion package. Wicker on ABC is this week broadcast rescue crews in northern India struggled to reach trapped victims after part of a Himalayan glacier broke off releasing a torrent of water and debris that hit two power plants..

President Biden Senator Roger Wicker ABC secretary Tampa Bay Buccaneers Norah O'Donnell Kansas City Chiefs Congressional Budget Office Tom Brady Janet Yellen Himalayan glacier president CBS school teacher India Mississippi CNN Iverson
"janet yellen" Discussed on WTVN

WTVN

01:41 min | 1 year ago

"janet yellen" Discussed on WTVN

"And weather in central Ohio NewsRadio, 6 10 W. T V and Columbus your D. C H D to Astro on my Heart radio station from ABC News. I'm Richard can sue former President Trump's second impeachment try along charges of inciting the capital Insurrection opens in the U. S Senate in the coming week. Impeachment managers will argue Trump whip the crowd into a frenzy and aim them like a loaded cannon toward the capital video emerging showing Writer celebrating in the moments after they stormed the capital, Donald Trump is still our president on man and the horns and face paint is Jacob Chance. Lee. His attorney, says he believes he was listening to Trump and an ABC News investigation has found at least a dozen other riders charged have said the same and that's exactly what House impeachment managers plan to argue. ABC is Rachel Scott. Congressional Democrats looking too fast tracked in early $2 trillion pandemic relief measure, Treasury Secretary Janet Yellen seemed to suggest the $75,000 income threshold for direct payments was high, thinks it ought to be 60 GS. Exact details of should be targeted are to be determined but struggling Middle class families need need help to yelling on state of the union on CNN, Iran's supreme leader urged the U. S toe lift all sanctions of it once Iran to live up to commitments under the nuclear deal. But on 60 minutes on, CBS president Biden said it won't be the US making the first move. Will the US lift sanctions first? In order to get Iran back to the negotiating table. No They have to stop enriching uranium First president nodding.

Donald Trump president ABC News Iran US ABC Lee Ohio Rachel Scott Janet Yellen Columbus U. S Senate Richard Jacob Chance CNN CBS attorney Writer Biden
"janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:59 min | 1 year ago

"janet yellen" Discussed on Bloomberg Radio New York

"While Europe's equity benchmark heads to its biggest gain and almost three weeks we check the markets every 15 minutes throughout the trading day on Bloomberg, the S and P 500 up 1/10 of a percent, or about five points, and 38 60, the Dow Jones industrial average. 4/10 percent, or 127 points at 31,086. The NASDAQ is now that'll change its down. 11 at 13,624 10 Year Treasury Down 3 30 Seconds healed 1.3% yield on the two year 20.12%. Nynex Heard oil is up to 10%, or 11 says that 50 to 88 a barrel Comex gold is down to 10%, or $3.10. At 18 55 90 announce the euro 1.2157 against the dollar. The yen. 103.63 G is up seven and a third percent after predicting that cash from its industrial operations would jump this year. Signaling renewed progress and chief Executive Larry Copes effort to revive the industrial giant beyond meat is jumping up 32% around there Right now it's jumping around, though, after the market maker of alternative need his growth model has long relied on high profile partnerships. Said it would team up with one of its biggest collaborators. Yet Pepsico, and we're also watching etc. Of 2.2% after the e commerce company earned praise from Elon Musk, the second time this month of the Tesla leader drove up a stock with the push of a social media button. And that's a Bloomberg business flashed almond. Paul. Karin, Thanks so much. Yeah, I looked at you and me. We'll be on me. $13 billion market cap up 67% just this year. Wow. I got us to make a buy a burger there because there's such a thing is Quinn double cash? Okay, This is gonna be important, and I said this earlier today, that may be for me. It's the most jarring shift. From the administration before Toe administration after why you do envision as we had in I believe it was November 2017. The president's secretary of the Treasury, and her husband. Yep. George Acre Love Nobel laureate, the claim 1970 paper and lemons and used cars standing in the meant holding a sheet of currency. Yes, we got with the previous secretary of the Treasury are expert on meant advocate Michael McKee joins us right now. I mean, Michael to me. It's got to be, you know, with all great respect to Mr Mnuchin, and particularly his service. It appeared in the last 18 months of the administration. What a shift in tone? Well, it's definitely going to be a shift in tone, but you've seen that across the administration. You just look at how the reinstituted the White House briefing every day. They have dogs. You know they have dogs. It's what we've seen is a sort of a shift back to the way things were before. The Trump administration. Janet Yellen is obviously extraordinarily well qualified for The job, but it does bring some additional skills to the table will see if she possesses those on duh. We'll see how she could do you know men, Yushin worked relatively well with Congress. He developed a relationship with Nancy Pelosi and so they were able to negotiate. We'll see how Jenny Allen does. What is on the top of Janet Yellen's agenda. Do you think like, Oh, clearly she's gonna be selling the president's stimulus program. We don't know exactly what Is going to end up being in it. But she'll help craft that she'll be the kind of point person on a lot of the economic aspects of it. She'll be able to target members of Congress who are questioning whether this or that is needed and I suspect that's going to be her her major role in the beginning that should probably also be involved in Whatever nuance changes they make in China policy when you stand up the press conference, and they always get you last like on the key, because they know you'll have a question Besides what you have from lunch, and you're rude enough to ask Chairman Powell. About foreign exchange. Is he now going to say talk to Professor Yellen? Yes, Treasury Secretary of Fed chair as always say it's the Treasury's job to talk about the currency so that that's the thing that all the longtime Fed watchers you're going to enjoy. Most is asking Janet Yellen about the dollar. Well, what would you ask her right now? Uh, you know, she came out with a policy the other day. Basically, of what I would call is benign neglect. You go back long enough to the Daniel Moynihan years to sort of understand what that means. Basically, they want the currency to be set in currency markets. But they don't want to embrace a strong dollar policy because they know and she said this is I chair that sometimes is weak Dollar can be good for your manufacturing. Like what's what's Janet Yellen's reputation on Capitol Hill can cheat. Do you suspect that she has the wherewithal to really sell this stimulus plan? Because we're already starting to see some Some pushback from the Republican side. Well, she's certainly gonna be tested on it because she has the skills to sell, and she has relationships up on the hill. That is good as Jay Powell has developed, but she does have AH long track record in Washington going back to the Clinton administration. And so she will have some success. The issue is gonna be beyond her, though in a sense of their probably some legitimate questions about how much debt you can pile up, and then there's definitely going to be a republic. An aspect of the Republicans just want to make Joe Biden look bad. So she's no maybe can attack the former, But the latter is going to be a harder hill to climb my grandma. Okay? This is the first time I've talked to you since I watched every minute of football on Sunday. Michael McKee. Should the Packers have kicked that field goal. I would not have statistical analysis suggests that you would have gone for it. But you know, in economics, go with statistics. Well, this brings us back to the days or Mr McKeon. I wandered through the morning together. And I would have to do way too much on the Denver Broncos, yet he was so distraught. He left the show Now, now you don't have to do anything. Except when you talked to Libby can troll. That's it. Well, we talked to Miss Cantrell, Pimco. We must be the Broncos Michael McKee. Thank you so much and seriously, folks, Mr McKee without question leading The intellect of Bloomberg of the Fed meeting, and we'll do that tomorrow. I'm sure have seriously important questions for chair Polat this time of real too much Paul earnings. This is fun. I mean, you know Three m Minnesota mining and manufacturing coming up time later in the morning. We're gonna talk with Karen Noble Heart. She actually from Limerick. Intelligence, she rides you know this big tractors from international Harvester, dear and No. She knows three. And when it was Minnesota mining and manufacturing, so we're gonna talk Industrial America with Karen. You, Bahar. We always talk about Tech and all the health care fun stuff. By the end of the day. What they do in Middle America should build big stuff. I mean, three almost flat on her back, and I looked at 10 year track records like 10% per year, which is not I would say all in all, not acceptable, but nevertheless, they recovered nicely, so absolutely, so we'll get the latest on them. And some of those, what's what's happening now with some of these big ad companies in industrial, let me look at the Dow right now. I gotta bring up all the Dow components here. Up 72 points in the now 31,000 over that level, SPX up fractionally NASDAQ When it goes the other way, little bit of pull back and the other doubt. Component game stop. Halted trading and now it's redoing trading. It's plus or minus. It's like 90. I've never seen the Bloomberg numbers.

Bloomberg Michael McKee Professor Yellen Treasury Fed Chairman Powell Paul president Congress Europe Pepsico Elon Musk chief Executive secretary Nancy Pelosi Larry Copes
"janet yellen" Discussed on WIBC 93.1FM

WIBC 93.1FM

07:01 min | 1 year ago

"janet yellen" Discussed on WIBC 93.1FM

"Is gonna be the Treasury secretary in the world to Joe Biden? Oh, she is convinced Raising the minimum wage is gonna be great. Just terrific. I don't know what she's thinking. Who she thinks she could be convincing. With the idea that raising the minimum wage is going to bring any value whatsoever. It's just Radical mythology, saying Right now we have millions of American workers who are putting their lives on the line to keep their communities functioning and sometimes even working multiple jobs aren't earning enough to put food on the table and a roof over their heads and their suffering countless ways, especially during this pandemic. And really struggling to get by. And raising the minimum wage would really help many of those workers or being open. Would help them. This idea that just handing people money is the answer. Giving up on capitalism altogether is Janet Yellen, Tony Katz, Tony Cats today it's good to be with him. Facebook. Tony catch radio. Yes, Yes. So use Facebook just don't advertise there, and I'll explain that to you in a second. It's time to use these people the way they use us. But this is mythology. From From Janet Yellen. Just e. Huge. Radical mistake. Raising the minimum wage helps No one No. One The minimum wage. Just two very awful things. It puts government in the place of being business is silent partner and ruining them, preventing them from growth and taking dollars out of their pockets and deciding what to do with that, as opposed to letting the owner decide what to do with it. Remember, this is Boss to Ostia, the It's economics. The idea of what it's seen in what is unseen. Right? What is seen is that the money goes to the employees and now they're making more money. What is unseen is all of the things that could have been done with that money. Hiring, marketing buying more equipment. You gave the money to people agreed. You forced it out of the business owners hand Didn't get a choice in that, and it's now taken from all the other things that could have done to grow a business what is seen and what is unseen. This is all goes about the broken window parable. Do not recognize that is to not understand the very basics while Tony, these people need help. I'm not arguing the the idea of help. I'm arguing that this is no way to actually help people. This is Contrary to the idea of helping people We'll just give the money. The money isn't yours to give your giving them my money. If you Janet Yellen want to go give people checks will give people checks. Why even telling me what kind of ego maniac for you that you've got to let me know. Go give people checks. Don't do it for the credit, do it because you think it's the right thing to do. No. You want me to give a check? You want to decide for me? What's best to do with my money? That's a problem. That's an obscenity. That's wrong. People pushing for $15 an hour minimum wage. Don't know Thing one about economics. They want to tell you it's a living wage, not in the slightest. They couldn't have that argument. If their lives depended on it in any kind of rational way. I'll do it on air. I'll do it in private. I'll do in front of an audience of 10,000. People makes no difference. There's no such thing as the living wage it Is not real. Remember this applies to everything that Jen did. Janet Yellen believes she thinks that has to be a big coronavirus relief package on Lee, proving that Democrats love Wall Street and Wall Street loves Democrats. Right. That's the that's clearly what this is. She says the U. S economy has to be rebuilt so that it creates more prosperity for more people and ensures that American workers can compete in an increasingly competitive global economy. They can if the businesses are open. And if you want to actually work on growing an economy, let's do certain smart things like bringing drug manufacturing back to the United States. What we do is drug development. Do that very well. Manufacturing is different. And that needs to be taken out of China and brought to the U S. Now you could for supply chain reasons have drug manufacturing in India. We gotta take it out of China, Pluck it right out. Fuck that right out. That's that's my sound for plucking, pluck it right out. And drop it into the Midwest. We still have Midwest governors that aren't trying to get this done that shocking to me. That is shocking to me. That we've got people who aren't looking to build this business and grow this opportunity. Right? That's Big mistake. Big, big, big, big big Huge Mistake. So, by the way will be the idea of another relief package. $1400 not enough you wanna do represent a costume contest is 2000. Do I hear three? I mean, we're giving out checks, I say 5500. It is sorry. What happened to love a 55 $100 Jack? Oh, sure. Alright. Giving Thank you, please. Thank you. That was great. I wouldn't complain. I've got a family. So we're gonna We're gonna just make book of a bank. Frank. That's not how economics works. This isn't how it works. We shouldn't be people. Who are cheering this Now This brings us to the story of Facebook ads. In a story that I remind you at the start you confined us. Tony Tony katz dot com. Why do I bring up the email address? Facebook has decided Head of Inauguration Day. That they will not be selling ads are providing ads for gun saves or gun holsters..

Janet Yellen Facebook Tony Katz Joe Biden Tony China Midwest Ostia Tony Cats partner United States Frank Jen India U. S Jack
"janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:39 min | 1 year ago

"janet yellen" Discussed on Bloomberg Radio New York

"But that's a look at what we have on the calendar. Let's find out what else is happening out there and get over it. San Francisco Enjoying Ed Baxter? All right, Rich. Thank you. Hong Kong is holding in classroom learning this week is cases spike from day after tomorrow In New York City Mayor Bill de Blasio says it will move back in the classroom instruction next week. Dr Anthony Fauci says he fears a U. S surge on top of surge after watching the volume of travel over the Thanksgiving. U. S Surgeon GENERAL Jerome Adams says the U. S. Will likely rollout of vaccine by year's end. UK seeks to roll out its program by Christmas, South Korea maintenance of social distancing rules and the greater Soul Area. California 14 Day Case average hits a record New York State reporting a positivity of over 4%. The first time since May, Italy cases have slowed UK reporting new cases and deaths moderating and decreasing after a month long lockdown 62 plus wildfires are burning east of Sydney. Now Donald Trump's flailing away at the U. S judicial system has him saying he wants to file one big Donald J. Trump lawsuit challenging system Of elections, and Joe Biden will announce his economic team this week. Janet Yellen expected to head Treasury and Bloomberg reports has communication team will be made up of all women. In San Francisco. I'm Ed Baxter. This is Bloomberg wish All right. Thanks very much. Indeed. For that. Let's have a quick look at, uh what Our next guest was making of ALS. This that's going on at the moment we're back with that came for a CEO of Boki Capital Partners. A kid getting you look out equity markets the moment you see this best November ever on record for global stocks. It's a bit of a head scratcher, isn't it? Surely Well, I think people really are betting on getting back to work and getting our lives back because 2020 has been The stay in place shelter in place kind of year. And I think that most of the investors look it vaccines and say, Hey, we're gonna get out. We're going to move. Right. Even though I am a natural optimist. I think it's going to take longer to get people back out there even after we start creating are making the vaccine widely available. Is always the danger of policy errors to you and and that's something to be concerned about with the change in administration. Also, Australia is blaming China for you know, Week policy, aggressive moves and undermining confidence. How much do you have to sort of factor in that? I think you have to be very prudent were people we are fallible. And just because you're with the government and charged with, you know the safety of your citizens. You don't always do the right thing. So I think, um Patience and prudence is probably best in investing right now. I mean, it always is that it really is now It's the markets, you know as high as they are and hope for a return to what we were doing in 2019. I mean, you were saying you're looking at 3 to 5 years? You probably not that concerned what happens in the next couple quarters? No, but I'm not your regular investor, either. Right? Like I have. I'm a very patient investor. But I'm also not going to be piling into things that necessarily have run up and may look too rich for the future. Um, I mean for the short term, so I'm kind of looking lower on the on the, uh, value chain. I guess, although I hate to paint myself it's a value investor, which I'm not. I'm growth at a reasonable price. So that's what I'm trying to figure out our Who has a growth story that's going to play out over 3 to 5 years, and that's really what I'm doing onto that end thieves to new cos you've got in your portfolio one, which makes your pets live longer. Aziz the great one. I mean, that's always going to be a popular on financial as well. Right, Well, the pet one. It's kind of unusual because it's going through a merger where it's buying some of buyers, um animal health assets, and not only are they pat oriented, but it's also the food that we eat animals so pigs, cows that sort of thing and farmers around the world really are looking for. Health care for these Mara animals to get them to market and have healthy animals. That's what they want. So this is growing area, but we also think this is a special situation. The company's name is Elam Co. Animal health and the special situation is that they are buying assets from buyer and we think that they will be able to better manage it and get better margins. So that's the growth story is not just pets. Better margins by management. How much you worry about currencies. The dollar had been in a favorable downward push, and I thought it would stall out at 92 on the Dixie, but it's continuing to move to the South. It is troubling and, um, but again, you know, given my long time horizon, it's not a huge focus for a fusilli. All right, Kim. Thank you. So much for joining his came for us that the chief investment officer of Okay Capital.

Donald Trump Ed Baxter San Francisco Bloomberg Dr Anthony Fauci Bill de Blasio New York City UK Janet Yellen Kim California Hong Kong Jerome Adams South Korea Joe Biden Boki Capital Partners Elam Co
"janet yellen" Discussed on WBAP 820AM

WBAP 820AM

03:14 min | 1 year ago

"janet yellen" Discussed on WBAP 820AM

"Remember the name Janet Yellen. Oh, yeah, the former head of the chair of the U. S Federal Reserve. Sure, she is being tabbed as Biden's secretary to the Treasury Department. So there's a name you recognize, recognize Janet Yellen. Now she was an adviser to Clinton all the way back to Bill Clinton. Also the Obama administration. Yeah, and President Trump when he came around. He didn't want to keep Janet Yellen around. Um, so that's the tab for for Treasury secretary And then this one, John Kerry. Yeah, I'm not a big fan of John Kerry. I don't blame. You know, a lot of people are especially after the Iran deal. You know, he was secretary of state. What Joe Biden is saying about John Kerry is that his position is going to be special presidential envoy for climate That's a pay back title if I've ever Heard water. I think you're exactly right on that. It's zoo, not a Cabinet position. No, that's a I've got to get Carrie in here because what he did for me during the campaign I owe you. You make up a position. I'm not used to go to get paid. It's great sherry do for him during the campaign. Well, you have inside. I have no idea. I think maybe not so much campaign, but more So again. We're bringing a lot of names back from the Obama administration, whether they're high profile names or like we said, the second in commands from the before we did traffic. It's It's just a lot of President Obama people. All I know is you brought it up job here. He did that Iranian deal, and that's a That's That was a horrible deal. To me. That's that's John Kerry's political legacy that not not running for president and losing, and the whole Purple Heart thing and Iranian deal is a It'll go down in history as the one of the biggest messes ever right and see what's going on, though. What's that? After four years of Trump coming in, trying to drain the swamp and disrupting all of Washington and everybody, including Republicans in Washington, getting upset what Trump? We're now trying to reassemble the status quo? Yeah. Yeah, I think that's the theme here When you would. It's really easy to get lost in the weeds. With all these names. You want to find that themed. I think students hit the nail on the head. It's It's just It's a lot of What Trump tried to undo. That's just being undone. With these positions. I will say you're not seeing any Bernie Sanders or Elizabeth Warren or the squad. The squat, right? You're not seeing those names. Yeah, well, she wouldn't see in John Kerry, though. I really do. I don't know about the other people. What I know. Don't think John Kerry is should be legally. Shawn's not here, So I'll say it for him. You get the government you deserve coming up. Let's talk about four G and five G and Six g and B. Jeez, we can talk about this coming up. 6 35 s so stick with us, Nicolo say has the 6 30 news. Next? There's a new lifeline for unemployed veterans and military members today, details next.

John Kerry President Trump Janet Yellen Obama administration Joe Biden president Bill Clinton secretary Obama U. S Federal Reserve Treasury Department Iran Carrie Elizabeth Warren B. Jeez Shawn Bernie Sanders Nicolo
"janet yellen" Discussed on Biz Talk Radio

Biz Talk Radio

05:12 min | 1 year ago

"janet yellen" Discussed on Biz Talk Radio

"Every time you prevent the real things from happening, it creates this coiled spring, and that's why we had such a bad bear market in 2000. And such a bad one in 2000 and eight and in case you did not know And again, we deal in facts here we now have $270 trillion of global. Yeah. $270 trillion of global debt. That's money. They don't have created that goes into economic Wealth, But it's really a mirage because it's all debt and it's the size is obscene. On top of that. And again we do not make this up. There were now $17 trillion of negative rates. Debt across the globe. They have been able to float debt. Well, you pay them. What kind of economics one? No one is that On top of that. Depending on what Abacus you're using. His 25 $30 trillion of printed money. Buying up assets. On top of that 0% rates pervade the air. On top of that Japan is bought up half their market through E. T s. And I'm bringing this up right now, because a we have that Thursday and Friday, but be Janet Yellen was going to be named the next Treasury secretary. So you now have Janet Yellen, his Treasury secretary. And Jay Powell is the head of the Central bank. Now, in case you don't know Janet Yellen was these head of the Central bank for a few years and tow hook credit. She undid a lot of the damage that Bernanke did. With zero rates and printing money. She backed away. The problem is she was part of the Bernanke So we are letting you know. That we're on our way. Into getting their We have told you that we do not predict here. We don't. We don't know what's gonna happen at the end of next year. Like people are telling you now I saw JP Morgan is somebody all markets come 15% next? They don't know. Nothing from no, I don't know. But what we do Look at president and we look at characteristics of markets. That's what we do. And all the characteristics of late inning action in markets is coming to fruition and now quite quickly. What do I mean by that? Well, we're gonna do some repetition here and then we'll get into the full market wrap because after we give you what we perceive to be bad news for next year, but we'll be ready is the good news right now. So we'll get the bad news out of the way. Late inning action and markets. Characteristics. Massive amounts of secondaries and massive amounts of AIPO secondaries are companies selling stock to you. I think we've had 400 secondaries in the last few months, and by the way, we're not making that number up. Secondary offering is a company's already trading and they want to sell a ton of stock and they don't want to do it. 11 sale here there by an inside of Philly sell a ton. I pose tons coming out the lowering the bars of IPO's that's going on. And then it's the climatic move in markets. What we mean by climactic moves. Well, straight up, you could draw like an Eiffel Tower. Not necessarily in markets themselves, but in sectors and stocks. Now we're seeing that part. We've already discussed with you. I pose we already discussed with you the secondaries. We've discussed all that with you. Then we need the indices to break out a range and they're they're tempting it right now. We'll get into that the rest of the show but then froth and speculation. What do you mean by that? Well in 1999, the froth and speculation was just by any dot com name at any price, and then lose your ass when all said, and done, of course. It doesn't matter where the company has no best. I remember there's a company called by dot com their business. Uh, The way they conducted their business..

Bernanke Janet Yellen Jay Powell JP Morgan Eiffel Tower Japan president Philly E. T
"janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:00 min | 1 year ago

"janet yellen" Discussed on Bloomberg Radio New York

"Chair Janet Yellen wind up his Treasury secretary during a potential Biden presidency. We put that question to her this morning during an interview with Bloomberg Radio and television. Kanako Phillips is decided to end it to drop I can do but I really have no comment on that. I'm sorry. Kanako Phillips has agreed to buy control resources for about $9.7 billion in stock, the largest shale industry deal since the collapse in energy demand earlier this year on one that will create a heavyweight driller in America's most prolific oil field. Shares of Kanako Phillips now are trading higher trading. Lori should say down 4/10 of one present con show is up by 2/10 of 1% 102 on Wall Street time now for the market drivers report with a focus on depositary receipts. American depositary receipts, and here's Dave Wilson. Thanks, Charlie 80 years air higher. Unlike US shares, the S and P. A T r index is up for tense over percent. DSP hundreds down 4/10 of a percent. Credit Suisse has climbed 5.2% cubes has risen to 0.7% in U. S trade. The Swiss banks are higher for third quarter results at rival Julius Baer were well received. Endless Nucky is gained 4.5%. He thought equipment makers Nokia Bell Labs unit was selected by NASA, the building first Cellular network on the moon. Okay, said the network is due to be deployed in late 2022, Japan's to Sheba's added. 6.7% Electrons company said We'll start selling secure communication products next quarter. Did you use a technology called Quantum Key distribution to Sheba says, looking to capture 25% of the market in the next decade, and the UK is record bank Eser is full in 2.2%, maker of life's all disinfect. That's another household pride to do the post their quarter results tomorrow, analysts said. Relatively slow start toe flu season May hurt records over the counter drug business, Charlie Very much day. Wilson keeping track of those American depositary receipts again, recapping equities trading lower with the S and P. Now down 15, a drop of 4/10 of 1%. The Dow's down 87 down three tents and NASDAQ is down. 36 dropped their of 3/10 of 1%. I'm Charlie Pellet. That's a Bloomberg business Flash. This is balance of power. People are very sensitive to their own health and future to fix the tax system. We should not have a federal policy that discourages people from working for the world of politics meets the world of business. We are way to respect his own from an election to rebuild the station. Not only rebuild a build back better. This is the most important election in the history of our country. Gallons of David Western on Bloomberg Radio down to the deadline on.

Kanako Phillips Charlie Pellet Bloomberg Radio Dave Wilson Sheba Janet Yellen Bloomberg Credit Suisse Biden Julius Baer Nokia Bell Labs UK Lori NASA Electrons company US America David Western
"janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:38 min | 3 years ago

"janet yellen" Discussed on Bloomberg Radio New York

"One year anniversary of Jay Powell is Federal Reserve chair his legacy Jason so far kind of a shared one with former fed chairman his predecessor Janet Yellen and one of kind of a lot of patients. But now he starts to get a bit trickier. Well, it gets a little trickier. And as we know he's had quite the relationship at least from a public relations perspective with the guy who appointed him President, Donald Trump celebrated his sixty six birthday by having dinner with rich Clarita end, President Trump here to help us make sense of the Powell legacy one year end Gina smiling joins us from Washington. So Jay Powell Gina. Where's he at these days? He is pretty much doing exactly what Janet Yellen did still. I think in the sense that he is still pursuing a really patient gradual rate path that is really aimed at sort of allowing the labor market to make as much progress as possible while still restraining inflation, we heard him signal at the Federal Open Market committee meeting on January thirtieth the fed might be taking a pies now for the foreseeable future. So still very much taking this sort of cautious approach. And I think I think it's a real story of continuity, so far well, and let's remind folks that back in December. If we're having this conversation six weeks ago, it would be very different because the markets the president everybody was a little grumpy with Jay Powell, actually impatient with. Yeah. Absolutely. But I think one of the things that I think is so interesting about looking at legacies. Jenny Allen's legacy and J pals legacy answered comparing man is at the end of the day. They followed a really similar what is called a walk speak reaction function. You know, they both moved rates up when Connie was looking stronger and inflation looks like it might be headed up and unemployment was headed lower. And then they both took parties when it seemed like there were certain risks on the horizon or immediate signs that global growth showing some cracks that cetera. And so what I think is particularly interesting about that is Janet Yellen repeatedly took fire from every side because she was going to slow on rate hikes. And there is this real concern that she was going to let inflation get out away from her. I think Jay Powell took criticism for the exact opposite reason because there is this idea that he was going to hike right into a recession at the fed was going to be the cause of the next recession. And now that he's paused. It's funny because he's taking a lot of heat for capitulating to the markets. So he of you know, you can't win and let's get into that a little bit, right? Because here we are just what a few months away. Day four or five months away from being the longest US expansion on record. We keep talking over the last couple of years about a Goldilocks economy. Not too hot. We still have job growth. But it's a tricky time for Jay Powell in terms of what he does next. Absolutely. And here is I think the moment where J pals legacy, they virgins from the path Janet Yellen set out for him because what how is going to have to do together with his colleagues over the next. Couple of years is create some sort of a playbook for the next recession. We have already seen him sort of decide what's going to happen with the balance sheet, the fed decided at their January meeting that they're going to stick with their current operating framework on the balance sheet have a slightly bigger balance sheet, and they had in the past. That was a big decision. We've got even bigger decisions down the road. They're going to have to talk about things like is the inflation target the right to be using what you do in a world where interface are permanently lower, which means you have less ammunition. If there is an economic crisis because the feds primary tool to fight crises is really. At funds, right? If their most potent piece of ammunition in their in their took it, and so I think there's there these real questions, and they're not resolved in j pal is going to be the person in charge of the committee when they have to think through those questions, and and come up with that could potentially be politically difficult and help us understand. And you alluded to this a little bit earlier what role do the markets play. I mean, obviously, they wanna be the fed says that they look at all the data their data dependent patients all of that good stuff. And yet they can't ignore the opinions, shall we say sometimes stated quite loudly of the markets and the way markets are moving and their reflection of consumer sentiment and all of those other things so how does he put all this together? I think there's a real new ones that gets overlooked in this because a lot of times people sort of paint assistanct staccato me where the fed says, they don't look at markets. But clearly, they do and and there's this idea that there's a pal. But I think what really happens is the fed looks at asset price movements inasmuch as they impact economic outlook. Stocks are selling off. And it seems like the kind of thing where it's actively affecting business and consumer sentiment, and it might have knock on effects for the economy. They care about that. If stocks are selling off and credit spreads are tightening or widening, and what you see something that could feed into financial conditions overall and really restrained growth in the economy. They care about that what they don't care about is a temporary blip in the stock market where you know, stock markets get mad because Jay Paul said he's going to hike rates again, they sell off they recover quickly. I don't think they particularly care about that. They care about is sustained moves that might lead into the real economy. And they absolutely look at that. It is clearly something that they're thinking about when they're setting interest rates, and I think they're fairly transparent about that. But I like I said, I think the nuance gets lost Gina. I definitely do feel like speaking of nuances I feel like I kind of learning on the job, right? A year end, certainly if you take a look at the most recent fed meeting and the press conference and kind of what we what we heard prior to that leading up to it about kind of being willing to do what needs to be done to some extent and looking at the financial markets and then meeting with the president not unprecedented. But it doesn't happen a lot. So I feel like he's learning how to manage the situation whether it's the financial markets or whether it's the White House. Yeah. And I want to talk about that meeting with the president. Because I think it's particularly interesting on this point. He like you said it's not unprecedented for fed chair to me with the president actually sort of routinely. Do meet with the presidents who appointed them. But what's different here is that Donald Trump has been really critical of Jay Powell in a way that really since the nineties. No, president has been of they're fed chair since Still Clinton was in office, basically presidents have really taken made a point of wedding. They're fed chair it as they will not commenting on it and not pressuring them to go one way or the other on interest rates. Donald Trump has been very. Open and has tweeted actively and giving interviews in which criticized house actions and said he shouldn't be hiking rates in the and he's the biggest problem economy has right now things of that nature. And so I think that this meeting took on a real added importance and was momentous because of that, and the fed actually gave us a readout saying informing us that the meeting happened in the first place, the White House didn't and then saying that power really just went in there, and reiterated this idea that the fed is a politically independent institution that they will hike rates if they're climbing warrants it, and that they are tasked with a stool goal from congress of stabilizing unemployment at a low level, and and maintaining stable inflation. And that is the thing that they serve above all else. Not the White House. That's Bloomberg news reporter, genus smile smart story about Jay Powell fed chairman, and what is legacy will be so far he's really followed. What Janet Yellen his predecessor has done in terms of lots of patients, right and falling. What's going on? But he is living in a tricky time in terms. Managing the economy and the impact of fed policy on the economy, so great historical perspective as you say and some nice predictions about.

fed Jay Powell Janet Yellen President Jay Powell Gina President Trump White House Powell chairman US Federal Reserve Washington Jenny Allen Jay Paul Jason