36 Burst results for "Treasury Secretary Janet Yellen"

Yellen says bank situation 'stabilizing,' system is 'sound'

AP News Radio

00:46 sec | Last week

Yellen says bank situation 'stabilizing,' system is 'sound'

"Treasury secretary Janet Yellen is trying to project calm after regional bank failures. Speaking to the American bankers association. The situation is stabilizing. And the U.S. banking system remains sound. Yellen says the Biden administration acted quickly to protect the broader system and is ready to do it again if needed. Similar actions could be warranted if smaller institutions suffered deposit runs that pose the risk of contagion. Yellen's remarks come as the Federal Reserve meets to decide whether to boost interest rates again, as it weighs both banking concerns and stubbornly high inflation, Sagar, Meghani, Washington.

Yellen Janet Yellen Federal Reserve American Biden Meghani Sagar Both Banking Washington U.S. Secretary Treasury
Fresh update on "treasury secretary janet yellen" discussed on BTV Simulcast

BTV Simulcast

00:13 sec | 4 hrs ago

Fresh update on "treasury secretary janet yellen" discussed on BTV Simulcast

"You said yes, treasury secretary Janet Yellen warned efforts to loosen tighter banking rules, pull in place, post the 2008 financial crisis might have gone too far. She thinks it contributed to the recent turmoil among mid sized banks and called for a return to stronger oversight. These events remind us of the urgent need to complete unfinished business. To finalize post crisis reforms, consider whether deregulation may have gone too far. And repair the cracks in the regulatory perimeter that the recent shocks have revealed. European Commission president Ursula von der leyen warned the bloc to reduce risks in dealing with China rather than

World shares up after First Republic aid spurs Wall St rally

AP News Radio

01:06 min | Last week

World shares up after First Republic aid spurs Wall St rally

"A group of banks of extended a lifeline to U.S. based first republic bank, offering reassurance to financial markets. Markets rallied on Wall Street and in Europe and Asia, after news at 11 big banks have offered a combined deposit of $30 billion to help troubled first republic bank. Markets gyrated this week after the collapse of Silicon Valley bank and investors were looking for other troubled banks amid concerns over the unintended toll that interest rate hikes are taking on financial institutions. Shares of Credit Suisse plunged after their biggest shareholder, the Saudi national bank, said it would not provide any more support, but rebounded after Switzerland's national bank offered $54 billion in liquidity, Stephen Ennis of SPI asset management says in a report, the market remains cautious, traders do not want to get overexcited, especially with investors still focusing on what can go wrong instead of what could go right. Treasury secretary Janet Yellen told a Senate committee Thursday that the U.S. banking system remains sound, yesterday the European Central Bank raised its key rate by half a percentage point that expectations on Wall Street are that this week's turmoil will push the U.S. Federal Reserve to cut its rate hike next week to a quarter of a percentage point. I am Jennifer King

Stephen Ennis Credit Suisse Europe U.S. Federal Reserve European Central Bank Asia Next Week Jennifer King 11 Big Banks SPI Thursday $54 Billion Yesterday Janet Yellen $30 Billion This Week U.S. Wall Street First Republic Bank Senate
Yellen to tell Congress US banking system 'remains sound'

AP News Radio

00:53 sec | 2 weeks ago

Yellen to tell Congress US banking system 'remains sound'

"Treasury secretary Janet Yellen faces lawmakers today after the second largest bank collapse in U.S. history at a House ways and means committee hearing last Friday there was little hint of the imminent collapse of Silicon Valley bank or the crisis that was coming, our administration's top economic priority remains bringing down inflation. In opening remarks at a Senate finance committee hearing meant to address President Biden's budget proposal, treasury secretary Janet Yellen says the U.S. banking system remains sound deposits will be there when Americans need them and that the government took decisive and forceful actions to strengthen public confidence in the banking system by an official's face questions about the decision to protect money at two failed regional banks, a move some observers called a bailout, the Justice Department and the Securities and Exchange Commission have launched investigations into the collapse, which may be connected to rising interest rates meant to control inflation. Jennifer King, Washington

Jennifer King Securities And Exchange Commis Justice Department President Trump Two Failed Regional Banks Washington Janet Yellen Last Friday U.S. Second Largest Bank Today Silicon Valley Americans House Treasury Secretary Biden Senate Finance Secretary
"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:28 min | 2 weeks ago

"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

"We are seeing European start futures pointing higher this morning, four tenths of 1% higher in fact, 4100 features a tenth of 1% higher with a big movement, an equity market is on futures for Wall Street, hasn't been immunized or 1.8% higher. That market finished down by one and a half percent on Friday, NASDAQ features almost 2% higher now as well in Asia, the hang seng is 2% higher as well, looking at the currency markets the Bloomberg dollar spot index 8 tenths of 1% weaker and in treasuries, the two year yield 17 basis points lower 4.42%, the ten year yield at 3.68%, which we see the reaction across European bond markets later as well. Absolutely. Right, let's give you more details on our top story U.S. authorities have stepped in to protect all Silicon Valley bank depositors as they look to stem jitters about the health of the financial sector. The Treasury Department Federal Reserve and the FDIC jointly announced the effort to strengthen confidence in the banking system, speaking to CBS, the US Treasury secretary Janet Yellen says this is a problem caused not by the tech sector, but by higher interest rates. Then suffering from a downturn in his had some significant layoffs, the problems of this bank from reporting about its situation suggest that because we're in a higher interest rate environment assets that it holds many of which are treasury assets or mortgage backed securities that are guaranteed by the government lose market value. US Treasury secretary Janet Yellen speaking there on face the nation in a statement present Joe Biden said that the solution quote protects American workers and small businesses and keeps our financial system safe. It's not just SVB three banks of collapsed in the U.S. in a week, SVB, the crypto friendly bank silvergate capital and signature bank which was closed by New York State regulators on Sunday. Authorities say that both signatures ensured an uninsured customers will be able to access all of their deposits today, the bank had faced a torrent of deposit outflows on Friday, but Barney Frank, a signature bank board member known for the Dodd Frank act so that he thought the bank could have been a going concern Bloomberg's report in an auction for it is could begin as soon as today. Now, prime minister ishi soon act says that a plan for SVB subsidiary arm here in the UK may be unveiled shortly. He's on an official trip to the United States soon act said that there is no systematic contagion risk following collapse in the U.S., his remarks echo those of the Bank of England governor Andrew Bailey and the Chancellor Jeremy hunt, who says the government is working to support tech businesses. We are working at pace on a solution plans to make sure people are able to meet their cash flow requirements, pay their staff, but obviously what we want to do is to find a longer term solution that minimizes or even avoids completely losses to some of our most promising companies. Now blooper understands that royal group and investment firm controlled by a top Abu Dhabi royal is considering a possible takeover of the UK arm of SVB, they are among a growing list of firms that are said to be exploring a bid for the lander. Stress in the banking sector means some see a rethink for the Federal Reserve, economists led by Jan hazy as at Goldman Sachs, so they no longer expect the fed to raise borrowing costs in March, citing recent stress in the banking system. JPMorgan said in a note on Sunday that it continues to expect a 25 basis point hike at next week's meeting. This ahead of U.S. inflation data out tomorrow with economists expecting CPI to rise by .4% from the previous month down slightly from the .5% rate in January. Okay, those are a few of our top stories for you this morning are so we're talking about SVB, we've also got a number of guests following this from around the world. SVB obviously is based in the U.S., but it has a deep reach into text art arts life sciences and pension funds really around the world. I mean, it's got offices in Denmark, Germany, Sweden, the UK and also in Asia. Yeah, plenty to discuss coming up in the next part of the program. We'll be joined by Michael Moore, who's director channel of the British private equity and venture capital association interesting to get his views on

US Treasury Janet Yellen Treasury Department Federal Re U.S. silvergate capital SVB Dodd Frank prime minister ishi FDIC Asia Joe Biden CBS royal group Abu Dhabi royal
Yellen says no federal bailout for Silicon Valley Bank

AP News Radio

01:15 min | 2 weeks ago

Yellen says no federal bailout for Silicon Valley Bank

"The Treasury Department says there won't be a bailout for the Silicon Valley bank, but the government will work to help depositors who are concerned about their money. Treasury secretary Janet Yellen is trying to reassure Americans, there won't be a domino effect after the collapse of Silicon Valley bank. Like the meltdown in 2008. She says the American banking system is really safe and well capitalized. An NBC's meet the press, New Jersey senator bob Menendez, says this appears to be an isolated case. But the banking industry bears watching. Should the regulators have been on the ball to ensure that this bank could not have had this risk. And what else is out there? Former FDIC chairwoman Sheila bear also on the show says the best outcome is for a buyer to be found quickly. The problem is this was a rush. This was a liquidity failure. It was a bank run. So they didn't have time to prepare to market the banks. They're having to do that now. I can catch up. The failure of Silicon Valley bank, which served mostly venture capital backed companies and technology workers, set off fears of additional bank failures, especially since higher interest rates are considered to be a factor in the collapse. I'm Jackie Quinn

Janet Yellen Silicon Valley Bank Senator Bob Menendez Treasury Department Sheila Bear Treasury NBC New Jersey Fdic Jackie Quinn
G20 meeting deadlocked over calling out Ukraine war - BBC

AP News Radio

00:39 sec | Last month

G20 meeting deadlocked over calling out Ukraine war - BBC

"A meeting of finance chiefs of the group of 20 leading economies has ended without a consensus, as Russia and China object to the wording of the war on Ukraine in a final document. The meeting hosted by India issued an outcome document that stated there was no agreement to how the war in Ukraine would be described in a news conference Germany's Chancellor Olaf scholz was clear on his views on the war, saying. The world is suffering as a consequence of Russia's aggression at a session attended by Russian officials, US Treasury secretary Janet Yellen condemned what she called the illegal and unjustified war against Ukraine. The group includes Russia and

Ukraine Olaf Scholz Russia China India Us Treasury Janet Yellen Germany
 Ukraine tensions flare at G-20 finance meetings in India

AP News Radio

00:50 sec | Last month

Ukraine tensions flare at G-20 finance meetings in India

"Tensions over the war in Ukraine have flared up at meetings of the group of 20 leading economies in India. We are also witnessing rising geopolitical tensions in different parts of the world. Indian prime minister Narendra Modi touched on a sensitive topic in his speech in the G 20 host city of bengaluru, those tensions boiled over and meetings between G 20 financial chiefs, specifically over Russia's war in Ukraine. US Treasury secretary Janet Yellen said the Russian officials at the conference bear the responsibility for the lives and livelihoods being taken in Ukraine and the harm caused globally, Yellen, outlined her focus in a speech a day earlier, continued robust support for Ukraine will be a major topic of discussion during

Indian Prime Minister Narendra Ukraine Us Treasury Janet Yellen Bengaluru India Yellen Russia
How is the Russian economy faring after a year of sanctions? - Quartz

AP News Radio

00:58 sec | Last month

How is the Russian economy faring after a year of sanctions? - Quartz

"One year after the start of the Russian war against Ukraine, the United States is slapping a new round of sanctions on Russian companies, banks, and business people. The Treasury Department says Russia's medals and mining sector is among those targeted in significant sanctions, imposed in coordination with G 7 allies, seeking to punish 250 people, firms, arms dealers, and tech companies tied to weapons production. Treasury secretary Janet Yellen says previous sanctions are working, citing Russia's struggle to replenish weapons and its isolated economy. New tariffs on Russian products are coming too, and include third country companies, including some from China that have been identified as evading sanctions. This comes as The Pentagon announces its devoting another $2 billion in military aid for Ukraine, including ammunition and

Janet Yellen Russia Treasury Department Ukraine United States Treasury China Pentagon
Can climate change lose Russia the war in Ukraine? - Yahoo News

AP News Radio

00:43 sec | 2 months ago

Can climate change lose Russia the war in Ukraine? - Yahoo News

"The Biden administration's again expanded sanctions against Russia's Wagner group, and its affiliates for their role in the war in Ukraine and activities in Africa. Treasury secretary Janet Yellen announced the sanctions, saying the moves against Russia. Will further impede Vladimir Putin's ability to arm and equip his war machine. She calls the Wagner group brutal. It's a private Russian military group owned by a close associate of Putin. The sanctions target dozens of Wagner group affiliates, including some in the Central African Republic and the United Arab Emirates as well as the president of Russia's Kalashnikov concern. The original maker of the AK-47 assault rifle. They also hit a Chinese space

Biden Administration Wagner Group Janet Yellen Russia Wagner Ukraine Vladimir Putin Treasury Africa Putin Central African Republic United Arab Emirates
White House to McCarthy: No negotiations on debt limit

AP News Radio

00:54 sec | 2 months ago

White House to McCarthy: No negotiations on debt limit

"President Biden says he'll be speaking with Republican House speaker Kevin McCarthy about the debt ceiling, however, The White House says raising it is not a negotiation, but an obligation. During a Friday meeting with the nation's mayors, President Biden discussed the seriousness of lifting the debt limit. If we don't meet our national debt and renew in the first time, we have a calamity that exceeds anything that's ever happened financially in the United States. House speaker McCarthy tweeted, I accept your invitation to sit down and discuss a responsible debt ceiling increase to address irresponsible government spending. Meanwhile, treasury secretary Janet Yellen tells the AP, the debt ceiling must be raised. This is about paying bills that have already been incurred by decisions of this in past congresses and it's not about new spending. I'm Julie Walker.

President Biden Republican House Kevin Mccarthy House Speaker Mccarthy White House Janet Yellen United States Treasury AP Julie Walker
Yellen to unveil first U.S. currency with her signature

AP News Radio

00:48 sec | 4 months ago

Yellen to unveil first U.S. currency with her signature

"Some U.S. currency will look a bit different next year. At a Texas facility treasury secretary Janet Yellen held up a newly minted $5 bill with her signature and that of U.S. treasurer Lin malerba. The first time the signatures of two women will be on our currency. The new notes will go into circulation next year. An audio provided by the Treasury Department, Yellen joked about the bad handwriting of some male predecessors, particularly Jack Liu, who had to redo a signature that looked like a series of loops and put a new, more legible version on currency. I will admit, I spent some quality time practicing my signature before submitting it. Sagar Meghani, Washington

Janet Yellen Lin Malerba U.S. Yellen Treasury Jack Liu Texas Treasury Department Sagar Meghani Washington
Yellen Is First Female Treasury Secretary With Signature on U.S. Dollar

AP News Radio

00:34 sec | 4 months ago

Yellen Is First Female Treasury Secretary With Signature on U.S. Dollar

"History is being made today is treasury secretary Janet Yellen's signatures being printed on U.S. currency. Dollar bills and much higher currencies bear the signature of the Secretary of the Treasury on the front. The full faith and credit of the United States and Janet Yellen, who was the first woman to chair the Federal Reserve and the first woman US Treasury secretary. Now becomes the first woman whose signature will appear on U.S. money. Yelin loops, the J and the Y in her first and last name, but the other letters flow in haste suggesting

Janet Yellen Treasury U.S. Us Treasury Yelin Federal Reserve
"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:31 min | 7 months ago

"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

"Allow foreign visitors to book trips directly and travel freely within the country. Broadcaster F and N says the change could be made as soon as this week Previously, tourists were required to plan trips through a travel agency. US Treasury secretary Janet Yellen says the fed will need great skill to achieve a soft landing in the economy. She told CNN's State of the Union that the U.S. can not have a strong labor market unless it gets inflation under control. Yellen says the fed will need to use good judgment in tackling high prices. The fit is going to need great skill and also some good look to achieve what we sometimes call a soft landing, which is bringing inflation down while maintaining the strength of the labor market. And my hope I believe there is a path to accomplishing that and my hope is that we will achieve a soft landing, but Americans know that it's essential to bring inflation down and over the longer run we can't have a strong labor market without inflation under control. The fed meets next on September 20th. Let's check the markets, the nikkei rally in 1.1%, 314 points to the upside. The ASX 200 in Sydney up 1.1%, the Taiwan Tai X index gaining 1.6%, several markets closed for holiday. Global news 24 hours a day live and on Bloomberg quicktake brought to you by 2700 journalists and analysts in a 120 countries. In Hong Kong, I'm Brian Curtis. This is Bloomberg. This is Bloomberg Wall Street week with David Weston from Bloomberg radio. They say it's always darkest before the dawn, and there's plenty of dark out there for investors right now, with the stock market off. Overall positioning has still been pretty depressed in sentiment reflects that. Inflation still raging. Inflation's stickiness is not going away anytime soon. And the fed intent on continuing to hike rates. It was fairly obvious coming in year that the fed would tighten. But there may also be some early rays of light, with commodity prices coming back down. If the fed continues to tighten, we believe the dollar will turn back up and these commodities will continue to fall. So the question is whether this is a false dawn or whether it's actually a good time for the patient investor to position for a rosier future. And to tell us which of those

fed US Treasury Janet Yellen Yellen Taiwan Tai Brian Curtis Bloomberg David Weston Bloomberg radio CNN U.S. Sydney Hong Kong
"treasury secretary janet yellen" Discussed on WTOP

WTOP

04:13 min | 8 months ago

"treasury secretary janet yellen" Discussed on WTOP

"In, albeit a lot more slowly than they probably would otherwise. Earlier, we told you two protesters tried to rush into the stadium, but were apprehended by security. They tried running in again and have now been arrested. This is all having to do with people angry that the Biden administration and Congress have not passed climate change legislation. Stay with WTO and we will keep you updated. 7 33, the U.S. economy appears to be moving in the wrong direction. The commerce department reports the GDP shrank by almost 1% during the second quarter. That follows a drop of more than one and a half percent in the first quarter of the year, while some observers say this means at least informally we're in a recession, CBS business analyst Jill schlesinger tells WTO. This is no time to panic. The real question that every individual says, do I have a job that's paying enough that allows me to meet these higher prices. And if the answer is yes, I'm doing okay, then you don't care about the label of a recession. And frankly, if you're not getting paid enough money and you're falling behind, even if we're not in a recession, you feel rotten. So these labels sort of have no relevance to the real impact on Americans, which is a lot of people are struggling. Many people are grumpy about high prices, but they're doing fine. So all of this is to say, take a deep breath. Declines at home construction and government spending contributed to the negative reading in the second quarter. Treasury secretary Janet Yellen said that although there is a slowing of the economy and demand, it is appropriate to happen after a strong growth with the reopening of the economy. Yellen says that while inflation is still too high, the labor market and spending are still higher than average and do not single signal rather a looming recession. As President Biden has said, we have entered a new phase in our recovery. Focused on achieving steady, stable growth without sacrificing the gains of the last 18 months. Treasury secretary Janet Yellen. Senate majority whip dick Durbin says he's tested positive for COVID, and that could make it harder for Democrats to get to the finish line on a new budget reconciliation plan. WTO's Mitchell Miller today on the hill. President Biden supports the bill, which includes a provision to allow Medicare to negotiate prescription drug prices, which means seniors and consumers will pay less for their prescription drugs. But the Senate stop Republican Mitch McConnell is skeptical of spending more money at a time of soaring inflation. Democrats answer to hurting you once is to hurt you again. The legislation agreed to by West Virginia senator Joe Manchin and Senate majority leader Chuck Schumer will need all 50 Democrats to pass. Senator Durbin can't return for at least 5 days, and the Senate plans to go on recess after next week. On Capitol Hill, Mitchell Miller WTO. The house today passed a $280 billion package to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the U.S.. The bill now awaits President Biden's signature, it will mark a major domestic policy victory for The White House about two dozen Republicans voted for the bill, but the house GOP leadership recommended to vote against it saying it would provide subsidies and tax credits to an industry that doesn't need government help. New developments today in the January 6th investigation, the House select committee reportedly focusing on former Trump cabinet officials in the hopes of learning about any conversations about invoking the Twenty-fifth Amendment, the amendments considered a means of last resort to remove a rogue or incapacitated president. Sources tell CNN the panels interviewed former treasury secretary Steven Mnuchin and his talk to interview former director of national intelligence, John ratcliffe, the committee will also reportedly speak with former Secretary of State Mike Pompeo and his interviewing former acting White House chief of staff, Mick Mulvaney, several other formative cabinet officials have already met with the panel. Coming up on WTO after traffic and weather, metro responding tonight to a now viral video where a woman says she was sexually harassed while waiting for a train. It's 7 36. Hey, there's something different about my mango pineapple smoothie. Really? My grandma will rap a taste fine. Nah, something's definitely different. No difference? Other than I got them behalf off because I ordered on the app. Well, that explains it. Explains what? How things seem to taste so much better when you're getting a sweet deal. Okay

President Biden WTO Janet Yellen Biden administration Mitchell Miller Jill schlesinger Senate Yellen COVID Treasury commerce department senator Joe Manchin Senator Durbin CBS U.S. dick Durbin Congress
"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:32 min | 8 months ago

"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

"Also in Hong Kong. We're looking at trading getting underway in about 90 minutes in key markets like Tokyo and Sydney and Seoul, and then three hours later, the China markets will open. And we'll get to Hong Kong as well there. Looking at some green numbers here for sure, so it was a pretty strong U.S. session, and then after hours with the exception of Intel, which will tell you about in a moment, most of the earnings, particularly from Amazon, Apple were looking pretty good, so that sets up as a pretty good Friday here. We'll get to the markets with Doug prisoner in a few moments, but for now, some of the top stories. Well, the U.S. economy shrank for a second straight quarter and putting the U.S. into a technical recession, GDP falling by 9 tenths of 1%. Personal consumption, the biggest part of the economy rose just 1%. That's a deceleration from a prior quarter, even so treasury secretary Janet Yellen gave a glass half full assessment of the U.S. economy. We do see significant slowdown in growth. That's to be expected, given how rapidly the economy grew when it was recovering from the pandemic and all of those job losses and policy was designed to do that. We should expect to see a slowdown. This economy is at full employment. Yellen says a true recession is a broad based weakening and she says, we're not seeing that right now. She says there's a path to bring down inflation while maintaining a strong labor market. Intel reported disappointing quarterly results after the U.S. close, revenue falling 22% to $15.3 billion. Intel is the world's biggest maker of chips, and it reflects a drop in demand here for data center chips and a steep decline in PC shipments. The company also said that ship prices are falling. And that might produce sales in the current quarter of as little as $15 billion. Here's Bloomberg's mandeep Singh. They lost all the pricing power. I mean, look at the gross margin compression here. They're really taking a hit on their pricing. So I don't think anything can justify the kind of guidance that they have taken down here. And to me, this is yes, execution issues, but also Intel is losing share. And they are losing share to AMD to Nvidia, to Qualcomm, and to TSMC on the foundry side. Mandy Singh, Intel shares now in after hours trading down 8.3%. Well, top leaders in China suggesting there would be no stimulus ahead despite an economic slowdown. A statement from the Politburo meeting made no mention of the national economic goals as was the case in April. At the same time, top leaders suggested flexibility on China's 5.5% annual growth target for this year, actually the target is for about 5 and a half percent. The polar bureau also made clear that the local governments will be responsible for ensuring the delivery of housing projects, hundreds of thousands of Chinese home buyers have refused to pay mortgages on apartments where construction has stalled, and we're told the meeting also reaffirmed Beijing strategy to stamp out virus cases through mass testing and stringent movement curbs. All right, the time is 33 minutes past the hour, let's cross over to Doug Krishna, who's in New York looking at the markets, and I guess you're seeing some advances in equity and some declines in the dollar. Yeah, a lot of dollar weakness, but I'm seeing a rally in the end too, Brian. One 34 40 or thereabouts. But with the rally that we had in U.S. equities, the last print on NASDAQ, I checked that nikkei futures in Chicago 27,000 945. So we're more than a hundred points above where we were in the cash market yesterday in Tokyo if this holds at this point in time. You mentioned the Intel numbers after the bell we also heard from Apple narrowly narrowly beating estimates for its third quarter results revenue up just 2% to 83 billion shares in Apple right now higher by about 3.4%. We also heard after the bell from Amazon, second quarter revenue beat, the company also gave a strong sales forecast for the current quarter, and if you go back and look at cloud computing revenue in Q two, a 33% increase, that topped forecast, I think a lot of the companies focus now is more on the AWS side than it is on the retail side Vis-à-vis Amazon.com, and if you look at the stock right now in the late U.S. session up about 13.8%. Let me just get you the E mini futures contracts now for the NASDAQ 100 were up about 1.2% after some positivity in the regular session that saw both the Dow and the NASDAQ comprising about 1%. The S&P 500 today was up about 1.2%. Obviously yesterday we had the fed meeting, right? And the rally that we saw in U.S. equities across the board. So if you look at the last two days for the S&P 500, the best two day gain that we have seen post fed, in fact, a record 3.86%. But today was really all about the GDP number coming in below forecast the market really had to dial back expectations for those fed rate hikes yields lower across the curve the two year was down 13 basis points today to two 86. We'll have more on markets in about 15 minutes. Steve. All right, Doug, well, it's 6 35 in the morning here in Hong Kong. That means it's time for global news

Intel U.S. Janet Yellen Yellen Hong Kong mandeep Singh China Mandy Singh Tokyo Amazon.com polar bureau Seoul Apple Doug Krishna
U.S. Treasury Secretary says while economy is slowing, labor market is still strong.

AP News Radio

00:52 sec | 8 months ago

U.S. Treasury Secretary says while economy is slowing, labor market is still strong.

"Treasury secretary Janet Yellen says the U.S. is better positioned than in the past as recessionary pressures flare I'm Lisa dwyer with the latest During a press breathing treasury secretary Janet Yellen emphasized that the U.S. economy while slowing has more resiliency than in past downturns She highlighted the strong labor market We need to see a slowdown in growth We are seeing that I do believe there is a path by which we maintain a strong labor market Gillen says that high prices are a top priority for the Biden administration The biggest burden that's weighing on negatively on household sentiment is inflation Young said that while there are positives about the U.S. economy along with inflation there are still headwinds at play largely due to Russia's invasion of Ukraine and the slowdown in the global supply chain I'm Lisa dwyer

Janet Yellen Lisa Dwyer U.S. Treasury Biden Administration Gillen Young Russia Ukraine
"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:36 min | 8 months ago

"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

"And analysts in over a 120 countries. This is Bloomberg radio. Now, a global news update. The White House says President Biden is doing just fine as he self isolates with COVID-19. It is the BA 5 variant, which is about 80% of infections. The president's doing well. White House COVID response coordinator, doctor Ashish jha told CBS's face the nation, the president had a good day yesterday as he continues to be treated for an upper respiratory infection. The World Health Organization is declaring monkeypox a public health emergency of international concern. The decision was made Saturday after the who held an emergency meeting on the outbreak. The declaration means that a coordinated international response may be necessary to help contain the spread of the viral disease. Treasury secretary Janet Yellen says the current slowing of the economy is necessary and appropriate. We need to be growing at a steady and sustainable pace. So there is a slowdown and businesses can see that, appearing on NBC's meet the press, yell and predicted it will lead to sustainable growth in the long term. I'm Dina kodiak. Your listening to balance and power with David Westin on Bloomberg radio. Markets are being buffeted by geopolitics by inflation and by uncertain supply chains. And none has been hit harder than cryptocurrencies, with the normally bullish Mike novogratz telling a Bloomberg crypto conference this week, it's a true credit crisis. What I don't think people expected

President Biden Ashish jha monkeypox Janet Yellen Bloomberg respiratory infection White House World Health Organization CBS Dina kodiak David Westin Bloomberg radio Treasury NBC Mike novogratz
"treasury secretary janet yellen" Discussed on NPR's Business Story of the Day

NPR's Business Story of the Day

02:44 min | 9 months ago

"treasury secretary janet yellen" Discussed on NPR's Business Story of the Day

"Top <Speech_Female> priority, <Speech_Female> you know, the <Speech_Female> price cap <Speech_Female> that we're pursuing <Speech_Female> is <Speech_Female> one of the <Speech_Female> most important <Speech_Female> ways we <Speech_Female> can make sure <Speech_Female> price we don't <Speech_Female> suffer from <Speech_Female> further <Speech_Female> increases in <Speech_Female> energy <Speech_Female> prices that would <Speech_Female> harm <Speech_Female> American households. <Speech_Female> And <Speech_Female> of course the <Speech_Female> fed is <Speech_Female> taking action <Speech_Female> to <Speech_Male> <SpeakerChange> bring inflation <Speech_Male> down. <Speech_Male> Of course, you mentioned <Speech_Male> the fed, raising <Speech_Male> interest rates. That <Speech_Male> slows down the economy. <Speech_Male> How do you <Speech_Male> rate the risk of a <Speech_Male> U.S. recession <Speech_Male> in the <SpeakerChange> next year? <Speech_Female> Well, <Speech_Female> right now, <Speech_Female> the labor <Speech_Female> market is <Speech_Female> certainly <Speech_Female> what I would characterize <Speech_Female> as full <Speech_Female> employment, <Speech_Female> jobs are plentiful <Speech_Female> people <Speech_Female> feel <Speech_Female> secure about <Speech_Female> their employment <Speech_Female> prospects <Speech_Female> and <Speech_Female> <Speech_Female> the labor market <Speech_Female> is very tight <Speech_Female> just in the <Speech_Female> last three months <Speech_Female> our economy is <Speech_Female> created <Speech_Female> in average of <Speech_Female> around 400,000 <Speech_Female> jobs, <Speech_Female> a recession <Speech_Female> is a broad <Speech_Female> contraction of <Speech_Female> the economy <Speech_Female> and that just <Speech_Female> isn't consistent <Speech_Female> with <Speech_Female> the kind of <Speech_Female> labor market that <Speech_Female> we're seeing, <Speech_Female> consumers <Speech_Female> spending is also <Speech_Female> <Speech_Female> continued to grow <Speech_Female> retail <Speech_Female> sales <Speech_Female> are well <Speech_Female> above their pre-pandemic <Speech_Female> trend <Speech_Female> and <Speech_Female> industrial <Speech_Female> production <Speech_Female> has <Speech_Female> risen in for <Speech_Female> the first 5 <Speech_Female> months of 2022. <Speech_Female> <Speech_Female> So <Speech_Female> this is <Speech_Female> not a <Speech_Female> set of <Speech_Female> economic conditions <Speech_Female> that constitute <Speech_Female> to recession <Speech_Female> <SpeakerChange> <Speech_Male> that <Speech_Male> said. But I mean, <Speech_Male> in the next year, <Speech_Male> my question is whether <Speech_Male> that could change <SpeakerChange> in 6 <Speech_Female> months or 9 months. <Speech_Female> Well, we <Speech_Female> expected to seek <Speech_Female> growth slow <Speech_Female> and <Speech_Female> I think we are <Speech_Female> seeing that <Speech_Female> it's appropriate <Speech_Female> now that we have <Speech_Female> closed <Speech_Female> the <Speech_Female> shortfall that <Speech_Female> existed because of <Speech_Female> the pandemic, <Speech_Female> you know, <Speech_Female> the fed will <Speech_Female> want to <Speech_Female> achieve a kind <Speech_Female> of soft landing <Speech_Female> that <Speech_Female> something <Speech_Female> that <Speech_Female> will require <Speech_Female> skill and good <Speech_Female> luck. I'm <Speech_Female> hopeful that that's <Speech_Female> achievable, but <Speech_Female> <Speech_Female> let's be clear <Speech_Female> there are risks <Speech_Female> that are economy <Speech_Female> faces, <Speech_Female> the war in <Speech_Female> Ukraine, <Speech_Female> global <Speech_Female> developments <Speech_Female> could <Speech_Female> further raise food <Speech_Female> and energy prices, <Speech_Female> commodity <Speech_Female> prices, <Speech_Female> we're seeing <Speech_Female> a slowdown <Speech_Female> in China <Speech_Female> through our <Speech_Female> global risks <Speech_Female> and those <Speech_Male> do pose <SpeakerChange> risk to <Speech_Male> our economy. <Speech_Male> Treasury secretary Janet <Speech_Male> Yellen, it's a <SpeakerChange> pleasure talking <Speech_Male> with you, safe travels. <Silence> Thanks so much. <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> Reveal <Speech_Music_Male> <Advertisement> the economic <Speech_Music_Male> <Advertisement> patterns all <Speech_Music_Male> <Advertisement> around us. <Speech_Music_Male> <Advertisement> While you <Speech_Music_Male> <Advertisement> swipe right and left, <Speech_Male> <Speech_Male> understand money better <Speech_Music_Male> with the indicator, <Speech_Music_Male> one of NPR's daily <Speech_Music_Male> podcasts. More voices, all ears, NPR podcasts.

U.S. Ukraine China NPR
"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:35 min | 10 months ago

"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

"I have a decision based on that I'm looking for by the end of the week. Yeah, President Biden says he is looking for more data ahead of the decision, which he expects will come later on this week. Treasury secretary Janet Yellen says she also supports the idea. Meantime, Nathan ExxonMobil says global oil markets may remain tight for another three to 5 years. CEO Darren Woods may the comments if a cutter economic forum saying it's largely due to a lack of investment since the pandemic began. And we have some M and a news to pass along this morning Karen JetBlue is raising its offer to buy bargain carrier spirit airlines, the new bid values the company at about $3.7 billion. Well, we take a look at futures this morning as they are jumping S&P futures up 70 points to down futures up 508, and NASDAQ futures up 228 the Dax in Germany's up 1.1%. Ten year treasury down ten 30 seconds, you have 3.26% and the yield on the two year at 3.20%. 9 X screwed oil is higher up 2.1% up $2 29 cents at a $111 85 cents a barrel. Comex gold is little change at $1839 40 cents an ounce. The Euro this morning, one O 5 7 four against a dollar, British pound, 1.2313, the yen one 35.32 Bitcoin at $21,211. Straight ahead your latest local headlines had to check a sport. This is Bloomberg.

President Biden Janet Yellen Nathan ExxonMobil CEO Darren Woods Karen JetBlue Treasury spirit airlines treasury Germany
Treasury Secretary "recession not inevitable"

AP News Radio

00:34 sec | 10 months ago

Treasury Secretary "recession not inevitable"

"The treasury secretary addresses the possibility of a recession There it is that R word again I don't think a recession is at all it all inevitable Treasury secretary Janet Yellen on the delicate dance being done by fed chair Jerome Powell as interest rates go up His goal is to bring inflation down while maintaining a strong labor market that's going to take skill and luck but I believe it's possible Yellen spoke on ABC's this week with George Stephanopoulos I'm Shelley

Treasury Janet Yellen Jerome Powell FED Yellen ABC George Stephanopoulos Shelley
World Bank Delivers Grim News on Inflation

The Hugh Hewitt Show: Highly Concentrated

00:44 sec | 10 months ago

World Bank Delivers Grim News on Inflation

"Janet Yellen and World Bank expect elevated inflation to persist. Global growth expected to slow as prices rise increasing risk of stagflation, bank president said treasury secretary Janet Yellen, mister Wall Street Journal, warned that the U.S. is likely to face a prolonged period of elevated inflation. Thank you, Joe Biden. Thank you, Democrats for passing $4 trillion in spending that we did not need last year. Fuel on the Barbie and you got what you wanted. New York Times headlines, slightly different. Yellen defends pandemic spending as inflation persists. Of course, you're going to defend it. But she said I was wrong about inflation, but she can't really say Joe Biden's a bumbling clown and we're in trouble.

Janet Yellen Mister Wall Street Journal World Bank Joe Biden Treasury Yellen U.S. New York Times
"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:47 min | 10 months ago

"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

"I'm Scott Carr And I'm susannah Palmer in the Bloomberg newsroom A new book says treasury secretary Janet Yellen initially wanted the Biden administration to scale back the nearly $2 trillion American rescue plan because of concern it could be inflationary We get more about that from Bloomberg's Denise Pellegrini a new Yellen biography says the treasury secretary wanted Biden officials to cut the $1.9 trillion pandemic era package by a third because according to Owen ullman's biography empathy economics too much government money flooding into the economy too quickly could overheat the economy and trigger an inflation The treasury secretary though has issued a statement about the book saying she never urged adoption of a smaller package And she says the economy risked a downturn that could have been as disastrous as The Great Depression Yellen ended up endorsing the full package publicly to members of Congress at the time She said this past week she was wrong when she thought inflation would end up just being transitory Bloomberg Denise Pellegrini Saudi Arabia raised oil prices for its biggest market of Asia by more than expected This as the region's main economies ease coronavirus restrictions helping to boost demand The increase for July shipments resumes hikes that started back in February and were only broken when state producer Saudi Aramco cut prices from record levels a month ago New Jersey is moving to ban menthol cigarettes the state's assembly health committee approved a controversial bill that would prohibit the sale of flavored cigarettes and electronic smoking devices There was an opposition to the band say cigarette sales would shift to other states which happened in Massachusetts New Jersey banned most cigarette.

Yellen Denise Pellegrini Scott Carr susannah Palmer treasury Janet Yellen Biden administration Owen ullman Bloomberg Biden Saudi Arabia Congress assembly health committee Saudi Aramco Asia New Jersey Massachusetts
"treasury secretary janet yellen" Discussed on Squawk Pod

Squawk Pod

05:34 min | 10 months ago

"treasury secretary janet yellen" Discussed on Squawk Pod

"Will be next. Next on squawk pod unpacking the interview you just heard, assigning accountability for inflation and charting the fed's path forward with economist Muhammad el Arian. What then went wrong is that the fed didn't recognize that the drivers of inflation were widening. They didn't recognize that it wasn't transitory and therefore did not move early enough. Welcome back to squawk pod where we're feeling out the fed's plan for inflation with Becky and Brian. Brian kicks off our next interview. Worries over inflation and the Federal Reserve's Dex moves, the state of the economy, recession, no recession. Have investors on edge. We know that because the NASDAQ is down 24% this year, helping us out and navigate all of this is Muhammad el Arian, Allianz, chief economic adviser, and queens college Cambridge, president. It sounded to me like they're kind of throwing Powell under the bus or starting to in their own weird political way. I don't know if you heard that dialog a few minutes ago. What do you think? So I'm not sure they're throwing power under the bus, but they are saying two things that the fed should listen to. One is acknowledge that you made a huge mistake. That's what secretary Yellen did, and we should welcome that. It's a really important step forward. And then two try to regain control of the narrative. That's what President Biden tried to do with his Wall Street Journal op-ed. To this day, Brian, and this is important because the fed needs to regain credibility on inflation to this day and unlike the ECB, the fed hasn't come out with an analysis of why it got inflation forecasts, wrong for so long. And to this day, they haven't told us how they've improved their forecasting capabilities. And until they do that, they're going to remain on the tremendous pressure. Muhammad, I think what the administration said yesterday look, a lot of ideas saying fed independence. That could be an important step if you really do get out of the fed's way and let them deal with things. That could be different than what we've seen from some administrations in the past. But all the other things that they talked about, all these other potential solutions for inflation, either seem unlikely to help or not likely to help in the short term or the medium term. Is that just an admission that the administration is not going to be able to do much? And they definitely can't spend their way out of this because that is more fuel to the fire. That's the reality paki. And that came out in your interview. Look, they should and are looking at things to improve the supply side. But it will take quite a while. It is about the fed, they are now held hostage because the fed is very late. The fed should have started moving a year ago as we've discussed repeatedly for the last 9 to 12 months, they didn't, and that puts the administration in a corner, so they've got to hope that the fed moves, and they have been respecting the independence of the fed. They haven't got in the way of the fed, it's just that the way the fed hasn't gotten going early enough. And I don't want to beat up fed horse on this topic, but the idea being you're going the stakes of the election in November are massive. And you've got Yellen saying de Becky, well, they made a mistake. You've got comments like we support the fed..

fed Muhammad el Arian Brian queens college Cambridge secretary Yellen President Biden Allianz Becky Powell ECB Wall Street Journal ed Muhammad Yellen de Becky
"treasury secretary janet yellen" Discussed on Squawk Pod

Squawk Pod

04:55 min | 10 months ago

"treasury secretary janet yellen" Discussed on Squawk Pod

"Herself in just a few minutes, but the main headline, while the Biden administration and the Federal Reserve both aim to curb rising prices without sending our economy into a recession, Biden will respect the independence of the fed and Powell should work as he sees fit. I think it's a lot of messaging right now, the administration is nervous. They've got to get out in front of this. They've got to say to the American people through CNBC and others were acknowledging this. We're working on this. I think that the administration, I don't believe in none of my sources believe there will be a port strike, but if there is, it's 40% of U.S. imports. It's going to make parts of the supply chain shutdowns we've seen the last two years look like a pimple. Compared to what's coming. Look, the other idea is, I don't think there's a lot the administration can do. Biden laid out all these ideas that he has to fight inflation. None of them are things that will work in the short term, even the medium term. I think they have to say that they are focused on this, but I think they also realize that a lot of this is outside their control. Now, there are things they could do on the energy front. We do get into that a little later. In the interview, but when it comes to fixing supply chains, those are long-term problems, things they can't do. They can leave it to the fed and hope that they're going to bring things down. But any spending that they'd come up with would be inflationary. So any spending packages or proposals that come through are going to add to the add fuel to the fire. Yeah, I mean, listen, new spending, I think, is if you read a lot of the Wall Street research, new spending is DOA, build back better is probably maybe they never mentioned it. It may be chopped up in sort of sold off in parts. They never mentioned that yesterday. And I think that's significant too. Probably a tacit admission that they can't spend their way out of this. Well, I think also the president's op-ed yesterday was comforting in a way where he said the war in Ukraine has exacerbated that's his term, the inflation issue versus them coming out and saying, this is Putin inflation, which is just, it's not accurate. And so if you're watching, you're going well, we had high prices a year earlier. Yeah, they went up from high, but they were already high. Inflation, by the way, let's be fair, it's not a U.S. phenomenon. No. The Eurozone 8.1% energy prices, they've moderated a bit in the UK. We were reporting on this back in November, out of control, food prices are high and going higher. If you're an economy that stimulated because of COVID, you didn't realize it was after effects. Seeing the after effects because the economy in many ways didn't shut down to the level he thought it would. If you were in D.C., you're like, oh, everything's shut down. Then you go to Houston and there are three deep at a bar watching basketball. And people's bank accounts are flush. They had a lot of money that came in through a lot of those payments. We will continue to talk about this..

Biden administration fed Biden CNBC Powell U.S. Putin Ukraine ed UK D.C. Houston basketball
Eric Chats to Charles Thorngren, CEO of Legacy Precious Metals

The Eric Metaxas Show

01:55 min | 1 year 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
"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:36 min | 1 year ago

"treasury secretary janet yellen" Discussed on Bloomberg Radio New York

"Is serving to hold down oil prices I think gas prices peaked in now come down some from their peak We're working very diligently on supply chain issues to get our ports working better and we're doing what we can to bring down inflation so that's very important We're reexamining carefully trade strategy with respect to China and I think it's worth considering we certainly want to do what we can to address inflation and there would be some desirable effects It's something we're looking at That was US Treasury secretary Janet Yellen catching up with Bloomberg's David west and of course David host of balance of power on Bloomberg radio and Bloomberg TV You can check out more of that interview at Bloomberg dot com also catch it on Wall Street week with David over the weekend What's interesting and I kind of left it out going into it but David I believe gets into it in that conversation is that I mentioned the G 20 finance ministers and Central Bank chiefs that have been meeting in Washington this week And at one session treasury secretary Janet Yellen led a partial walkout from a session that featured Russian officials in protest over their inclusion given Moscow's invasion of Ukraine So a meeting world leader so much top of mind and of course the war certainly front and center too Yeah a lot of interesting I don't even want to call them tidbits but headlines come in from David's interview with a US Treasury treasury secretary Janet Yellen She did suggest that the U.S. is open to scaling back the widespread Trump there are tariffs on merchandise imports to help provide Americans relief from the fastest inflation in four decades She did say were reexamining carefully our trade strategy with respect to China It's worth considering we certainly don't want to do what we can we certainly do want to do what we can do to address inflation and there would be some desirable effects It's something we're taking a look at Yeah I mean the administration looking at so many different things when it comes to those higher prices are out there We've seen that certainly with the release of strategic reserves and that is certainly helped out against to some extent the energy markets here in the U.S. Yeah we note in our Bloomberg news story that the Peterson institute for international economics last month estimated that eliminating a wide array of those Trump era tariffs including those on Chinese goods it could reduce inflation by 1.3% That's pretty significant That would bring it down Still high but would bring it down a lot All right catch David's interview on Wall Street week and also on the Bloomberg terminal You are listening to Bloomberg business week Carol master Tim steinbeck right here on Bloomberg Well let's get to world of.

Janet Yellen US Treasury David Bloomberg radio US Treasury treasury China Bloomberg treasury Moscow Ukraine Washington U.S. Peterson institute for interna Bloomberg news Tim steinbeck Carol
"treasury secretary janet yellen" Discussed on WTOP

WTOP

01:36 min | 1 year ago

"treasury secretary janet yellen" Discussed on WTOP

"Again through May 3rd citing the recent nationwide uptick in COVID-19 cases It has been 30 hours since a man went out of the New York City subway station at open fire and still the suspect Frank James has not yet been caught Eugene Yarborough was a pastor of Milwaukee Wisconsin who knows the 62 year old Unbelievable I just couldn't I couldn't believe it would be him But who knows what people will do Federal investigators say the gun used in the shooting was purchased by James at a pawn shop in the Columbus Ohio area President Biden called the president of Ukraine today White House correspondent Steven portnoy has what the two talked about The White House says the president spoke with his Ukrainian counterpart for about an hour updating volodymyr zelensky on ongoing U.S. support Aids have indicated the U.S. is set to provide Ukraine with hundreds of millions more dollars worth of additional military equipment including more weapons systems armored vehicles and humvees Pressure on China from treasury secretary Janet Yellen when it comes to its relationship with Russia Yellen said she hopes China will use what she called its special relationship with Russia to end the bloodshed She said China's standing in the world will suffer if it doesn't China can not expect the global community to respect its appeals to the principles of sovereignty and territorial integrity in the future If it does not respect these principles now when it counts Yellen said the U.S. is firm in its determination to hold Russia accountable for what she called its horrific conduct and its violations of international law Christopher Cruise CBS News Washington The Atlantic hurricane season is less than two months away I'm Peter king at.

COVID Eugene Yarborough Russia Steven portnoy Frank James volodymyr zelensky Yellen White House Janet Yellen China Milwaukee U.S. New York City Biden Wisconsin Columbus Ohio James treasury Christopher Cruise
"treasury secretary janet yellen" Discussed on Cape Up with Jonathan Capehart

Cape Up with Jonathan Capehart

07:02 min | 1 year ago

"treasury secretary 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
"treasury secretary janet yellen" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

05:43 min | 1 year ago

"treasury secretary janet yellen" Discussed on Marketplace with Kai Ryssdal

"Been hurricane Ida dumped record rain on New York City, three to 5 inches an hour. Says the national weather service, which flooded streets and the subway and basements, including more than a thousand basement apartments, at least 45 people were killed in the New York area more than a dozen of them when those basement apartments flooded. Others lost everything they had. And it's exactly this kind of flooding that's going to overwhelm our infrastructure as the planet gets hotter, and people who live in those places are going to need some help. Marketplace is cement the fields, reports on that one. Just before 9 30 p.m. on the night of September 1st, the national weather service issued a flash flood emergency for New York City. For the first time ever, at the time, Alejandro and his partner Diana, whose last names were withholding because their undocumented, were at home in their basement apartment in Brooklyn. It was really pouring and the water to start coming from the windows and from the side of the walls also through the bedroom to the Permian. Within about half an hour, I was floated completely floated. We went outside and we stayed at the car for the rest of the night. The next morning, when they went back inside, everything was soaked. Their furniture, their clothes, the floors, the walls. They had to throw almost everything away. I feel so sad honestly, because, you know, I didn't expect nothing like that here. It was bad for me. It was bad for a lot of people living in basement apartments in Brooklyn and queens. Many of them were low income and many were immigrants. Unfortunately, to repeating story Carlos Martine is at Harvard's joint center for housing studies. We see the most vulnerable people, this includes low income people, people of color and people with a mixed immigration status living in precarious housing. That is more likely to be damaged by these disasters. That's because it's often the only housing they can afford, particularly inexpensive cities like New York. And he says the problem is only going to get worse. Not only because the affordable housing crisis is getting worse. But the climate crisis is getting worse. In New York, a lot of low income immigrant families end up living in illegal basement apartments that are increasingly vulnerable to flooding. And so they're paying extremely low runs, but they take on the risk of living in an apartment or building that is not meant for really people to live in. And these tenants have nowhere else to go Lena Lee at the tenant legal services organization communities resist says many of them can't get federal disaster aid from fema either, because they're undocumented. And so the families that were most affected were completely locked out of any access to any of these resources to remedy that New York State and city created a $27 million relief fund a few weeks after the storm. For people who aren't eligible for fema assistance to help replace furniture, do home repairs, and even move. Each household is eligible for up to $72,000. On a recent Tuesday, Alejandro and Diana brought their application to an office of the Chinese American planning council. The community based organization that's been designated to help people in Brooklyn apply for the fund. And this, you only do. They gathered their lease, all sorts of receipts and photos of the damage..

hurricane Ida national weather service New York City Brooklyn Carlos Martine Harvard's joint center for hou New York Alejandro Diana Lena Lee queens fema New York State Chinese American planning coun
"treasury secretary janet yellen" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

01:47 min | 1 year ago

"treasury secretary janet yellen" Discussed on Marketplace with Kai Ryssdal

"Coming up, unfortunately, it's a repeating story. Go ahead. Take a guess. What can it hurt? First though, let's do the numbers. That industrial is down a 112 today, three 10% closed at 36,319. The NASDAQ dropped 95 points about 6 10%, 15,000 to 8 8 6 the S&P 500 slid 16 about three 10%, 46 and 85 General Electric, command a feature was telling us about that up 2.6% today. The video game company Roblox jumped more than 42% on much better than expected third quarter results. Thank you very much. Revenue grew 102% year over year. To the big screen now, AMC dimmed 11 and three 10%, even though the movie chain posted a smaller loss than analysts had predicted the company's CEO said further challenges lay ahead because of COVID-19 once again, this is me not that CEO, the virus is in charge of this economy. Concerns about the pandemic and rising gas prices are making a lot of Americans hesitant to travel over the holidays. That's according to the president of the American hotel and lodging association, new survey, from that group commissioned by the data company data intelligence company rather morning council indicates just 29% of.

Roblox General Electric AMC S American hotel and lodging ass
Treasury Secretary Janet Yellen Says Taxing 'Unrealized Capital Gains' Is a Possibility

The Charlie Kirk Show

01:43 min | 1 year 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 | 1 year 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
"treasury secretary janet yellen" Discussed on AP News

AP News

02:51 min | 1 year ago

"treasury secretary 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 | 1 year 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" Discussed on WTVN

WTVN

01:41 min | 2 years ago

"treasury secretary 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