40 Burst results for "Yellen"
Fresh update on "yellen" discussed on Best of Financial Issues with Dan Celia
"To call Cue up your call. Well, consumer inflation climbs the fastest pace it has in five months. CP I shows mostly due to the cost of oil. Eyes. The main reason for that, so the rate of inflation over the past year was pretty much on tape changed. It still sits at 1.4%, which is extremely low, and that's where it was before the pandemic. And now it looks like it could start running. Ah, little bit higher Right now. It's on pace to be about 2.3%. Now, whether that last or not, is another story. Um Spotify, one of the latest companies to announce that they will let employees work. From Anywhere. Even after The pandemic. So Spotify, fairly large company employs a lot of people. Um That's what They have decided to do. Spirit Airlines is hiring pilots. And flight attendants once again. So in anticipation off ramping up service. They have decided to get moving on hiring pilots. That is very wise because they're trying to get ahead. Of some of the bigger airlines that they're not gonna be able to compete with and try to hire some pilots there has been for the last five or six years has been a pilot shortage. Dramatic pilot shortage, and they have been predicting in the years to come. It's only gonna get worse. So spirit kind of the first airline to announce the hiring off more as they get back into the swing of things that apparently they think is gonna happen. Very quickly. The house has advanced to $1400 payment. Uh, Payments unemployment boost as part of the covert relief plan, so the House has approved it. No surprise there needs to say Nancy Pelosi, Ram right of that through And she is going to move that on up to the Senate. There's nobody in the Senate. There's not gonna be enough Republican votes that are gonna stop it. That is for sure. Also, Janet Yellen is reporting reporting the looking to name This is the Treasury Department now. Gonna be in charge of this looking to name a climate. Czar. Climate. Czar. Where? I don't know why. I don't know about you, but I already feel better. Just knowing there's a czar. I mean, don't you feel great climates are man. I've been waiting for years for this. So we gotta climates are Yeah. So I guess the climate czar is going to now if your air conditioning breaks down something that you can't call the climates are okay. This is to make sure that We are watching. The carbon footprint. In America because I will suspect that the climate jar is going to be Very much like the rest off the inteligencia in Hollywood and in the world of academia, and the climates are here is probably going to be off the same. It's election. Lowell place where they believe that there is this magical wall that is built around the United States of America that goes directly up to the ozone level. And so therefore if we do our part Then when all of the pollution Comes to California from China. It'll just simply go up straight there and destroy the ozone. Without hurting the ozone over America in that a wonderful thing, So that's what they believe, obviously, because they don't care a lick about what goes on in India and China. They only care about The U. S. It's like President Obama. Signing the Paris accord. For carbon Control. On a Tuesday and the next Thursday, signing a bill allowing the import off crude oil. I remember like it was yesterday because I was furious over the fact that I was the only one calling out this very ironic. Ironic, huh? Hipper, critical notion. So let's get our oil out of here so that it can be refined and use with about a 1/8 of the EPA standards that we have here. So if we keep it here, it's going to make a smaller carbon footprint. So let's send it elsewhere. Where can make a really big carbon footprint because it won't bother us because it's not underneath our Ozone lab level, which is static here doesn't move when it's over the United States. We all know that it just moves everywhere else. We have a will likely have a climate czar that has not yet figured out like the intelligence, CEO of academia and Hollywood that The world rotates. Oh, that. Yeah, rotates. He's got this thing called an axis and all that, and it actually rotates. Not only having they figured it out. They haven't figured out that all the pollution that China is doing is coming right to the shores of California. They don't know that I probably I hope they're not listening because I hate disappointing all of them. But, um That's the way it goes. So so because we want to protect Our ozone. We need a climate czar. And the climate jar. Can come here to our studios. I said, Hey, You know what, guys? You're using a lot of electricity. You're gonna have to cut back because you know somewhere there's a power plant throwing up. Hydrocarbons. You need to. You need to cut back. All right now, if you don't want to cut back then Maybe we can sell you. A little more credits on your Carbon footprint. In the baker up the street. I know you like their bread, but they can't be. They can't be bacon 30 loaves a day. No, It's just a little mama. Papa. They're gonna have to cut that down. Climates are is going to make him cut it down to look, you can't Take 30 loaves of bread. You're gonna have to cut that back to about 18. That should get your carbon footprint right about in the right place. I know. Making.
Spotify plans to launch in over 80 more countries
"Streaming service in more countries and in more languages, a Swedish firm announced today plans to launch into 85 more countries and had 36 languages to the platform. Spotify explained. They're looking into expanding the in Asia, the Pacific, Africa and the Caribbean. Once the expansion is complete, Spotify will be available in about 170 countries worldwide. Treasury Secretary Janet Yellen is
Fresh update on "yellen" discussed on Balance of Power
"Raised really instant question and Mr Boarded as well about the indicators you look at when you're evaluating this inflation move. Uh, we've mentioned Roll commodity index, like other members of mission that it's up 18%. Year over year. Gold is up 15% year over year, but the one always watching and we You saw it coming to play in the run up to the last financial crisis is residential real estate. As you know, 24% of the C P. I is an imputed rent. The Bureau of Labor Statistics uses. I've never bought it. I don't know if you've ever bought it, but it's up about 3%. Right now, But if you look at the prices of existing homes, I think there are 12 new home. Prices are up. 8% is that one that you particularly focus on that included Residential rich, since it is about 25% of the she FBI. And how do you look at that issue? We do, of course, follow broad, broad range of prices. It's you know, it's have more mandate is price stability. So where we have a lot of attention paid to many different things. The most important thing really is Inflation expectations are the anchored and we have great tools for looking at me looking at that, including a new Common index of inflation expectations. You ask about real estate housing, right? Residential real estate prices and you know the very high levels of increases high levels of increases we saw this year. There are a bunch of one time factors there was Suppression of demanded the beginning and the increasing demand as the as that industry reopened. Rates are low. People are still working at home. All those things tend to Grace Grace will be lovers. But able Young won't be forever and all those things tended to push up the man. Our best estimate is that we will see this increases but be much, much lower level you back. Thank you, Mr Chairman. The gentleman from Illinois Mister Kasten is now recognized for five minutes. Thank you, madam. Sure, Mr Powell. It is so nice to see you again. And I mean this genuinely the You have a hard job and you have always favored you always biased in favor of clarity rather than opacity. As you balance some of the political tensions of the job. We appreciate that in the country appreciates that makes our jobs easier. I mentioned that at the start because I want to sail into issues their political but shouldn't be, And it's been the subject of a lot of my colleagues questions around climate change. The transition to a greener economy. You know, there's lots of smart people have said, imposes physical risks and transitional risks. The physical risks I don't think present much of a political challenge. You know what's happened in Texas? I think there is no D suggest that we shouldn't be dealing with those types of physical risks to our economy. The transitional restore hard, though, because converting to a clean energy system means converting to energy system of his lower marginal operating costs. Which leads to a rising tide. It's good for the economy. But the fact that a rising tide lifts the average boat doesn't mean it lifts every boat, and that core that transfer is a transitional risk is a wealth transfer from energy producers to energy consumes. You pay less for energy, but now somebody's gotta write off the their their fossil fuel reserves. That, in my view, informs much of the political risk that are the political conversation that exists. So I'll get you in a minute. Why I start that way. But first I want to follow up on one, whichever Alaska's asked Come on Monday, Janet Yellen said that climate change is a part of the broader mandate of the Treasury Department. Do you agree that the economic risk of climate change are part of your problem mandate as well? I think that we have a mandate to assure the safety and soundness of financial institutions and that involves making sure that they manage and understand all of the risks that they face and that includes climate change. Rest. Okay. Well, I certainly do. I think some of the estimates search North $20 Trillion dollars year of loss, um, lost weak. Governor Brainard, Um noted that there have been over $5.2 trillion in the losses of such a physical risk of climate change. Since 1980 70% of that which is not an assured and of course that is accelerating. What is the fit doing specifically about the exposure that the financial sector has to those physical losses from climate change. So is that as I mentioned, we're really in the early stages of understanding this right now we're doing a lot of outrage for talking to different size financial institutions and other external constituencies. Our fellow regulators here in United States and around the world to try toe way don't have a framework for thinking about this. They're tremendous data gaps. It's not It's just early days. And by the way you if you if you talk to certainly the large and medium sized financial institutions you'll find they are very actively doing the same thing they were trying to think. But what are the implications? Longer run implications near term implications of this. How do I think about it? On gesso. I would just stress that it Z early days, and I also want to stress that you know that the nations climate policy has to be decided by elected people. We are not climate policy makers here who can decide You know the way climate change will be addressed by the United States, where regulatory agency that regulates a part of the economy and part of that job will be to assured as I said, But it's It's not the We're not Took so I should get e don't mean to be rude, but I got two more questions. One hit. I completely agree, and that's why I lead I let off by noting that there is this political challenge because of the wealth transfer because We need way our political creatures on our side of the diet here. And you noted that Mr Louka Meyer that stress test in scenario analysis are very different, and I totally agree the beauty of scenario analysis. That's inexplicable it gonna come more information, particularly as we get into some of his transition risks. The downside is that they're flexible and therefore they are going to be subject to political pressure. So we can't do those very well from our end. But if you think about how to build the modeling infrastructure in the Fed Were you thinking about how to build that in a way that is accurate, that captures the risks..
Treasury Secretary Janet Yellen says the unemployment rate "if properly measured" is close to 10%
"Let me start you with thing. You've been writing about this week. And that six terry of the treasury janet yellen said on cnbc. I believe it was yesterday talking about unemployment and the stimulus package and the need to go big sector. Yellen said look unemployment is probably closer when you really Add things up to ten percent in this economy And i i'd love your take on that because that's not the official number. It's not it's a good bit higher. The official number is six point three percent which works out to about ten million people employed. She's implying it's ten percent which works out to sixteen million people unemployed. So how can she say that. Actually there's some pretty good basis for her to be saying that we know right now that were in the middle of a pandemic and that official six point three percent unemployment number comes from a survey that they do have about sixty thousand households. A lot of people aren't responding to that survey. A lot of people don't actually know if they're unemployed. That might sensitive silly when you think about it. But you know there's so. Many limbo categories. People are on furlough. People are told they may be called back in a month or two. It's it's kind of confusing. But the biggest factor of all the reason that she wants to add more people to the ranks is the problem of women dropping out of the labor force appearance and others to care for kids at home and to care for sick relatives. That's about five million people who have had to do that. Those people's jobs are clearly gone because of the pandemic but they're not counted as officially unemployed. Because you have to be searching for a job in the past month to be part of the official unemployment number
Fresh update on "yellen" discussed on Boomer & Gio
"He's he's really help he's really good at that. Yeah he gets right all right. Take care man right guy. Cnbc he is skilled. But i'll say there is a huge schism. I love using network a huge schism within the the financial world the treasury world in regards to bitcoin. Why do you think because it's all of a sudden a threat that's right okay. Well because you know this is why people like janet yellen or talking about it all of a sudden because now also being asked questions about why she being asked questions treasury secretary. Because it's now a thing it's a real thing it's happening you know. This isn't just a cute little thing. That happened twenty years ago. People have some unlocked. you know. Bitcoin's on their computer. No it's becoming a real. Think what i didn't even realize is the tack that she took in trying to take down bitcoin and the impact that her words had on it initially. Now it's back up to fifty thousand again. Yeah but she was talking about how. Bitcoin could be used for money laundering. Ill-gotten gains things of that nature and then on top of that doesn't happen any right. Okay okay guys just relax. I'm just telling you what she said. I'm not defending what she said. I'm just telling you what she said. Yeah the other part of it was and i did the amount of energy it takes place with all of these different transactions right now because of all the fluidity within the market of bitcoin with this edits that its using more electronic even the country of norway right so all all of a sudden. The norwegians use electricity all of a sudden. It's a problem this and this is just like when the clown face mayor gotten involved with the steve cohen transaction. That's what this is. Oh so billionaires gonna come in here and he's going to buy a bunch of stuff and we're not going to get a piece of it okay. Well let's threaten something and trying to make a big deal out of it until we're involved and then there's the they're gonna look into regulation. They're going to look into getting caught. They're gonna look into that stuff and they're going to get stiff armed every step of the way until so. You're just thinking that janet yellen is stuck in a period. We cannot see the benefit of what. Bitcoin s sure absolutely. That's your personal opinion. It's not just my opinion but you're go here. There's all these other politicians who are and there's other countries. I'll tell you a couple of things off the air because we're getting late here but the mayor of miami by the way look into some of the stuff he said about bitcoin. Look i know this is going to sound crazy. But the nigerian government just talked about bitcoin in a way one of their latest meetings on nigeria. But i'm telling you it's just it'll it'll give you some insight into where it's going and i'm just there's there there's more than enough people of significant stature talking about this that you benchellali take hold. It is taking old right now. We're in the midst of it during the midst of old yeah. That's what i believe while. You're a bitcoin traitor. You should know. I'm not a i'm a bit cold. Hudler what i am holder. Well no so you do not ler. Yes adler a. You're you're not a minor minute. i'm hodler minor mining..
Uber drivers are workers not self-employed, Supreme Court rules
"Uber loses case on driver. Rights uber stock symbol. Ub aren't shares off three point five percent of this morning after the company lost a key legal fight in the uk. That country's supreme court upheld a ruling that drivers should be classified as workers rather than as independent contractors this entitles them to minimum wage holiday. Pay sick pay as well as rest breaks. Britain is uber biggest european market with about forty thousand drivers.
Fresh update on "yellen" discussed on Boomer & Gio
"It's guy from morristown. how are you hello guy. It's always great to hear from you guy. How are you lighten up. Please go easy on jerry. We'll talk about that in a minute. I have a special announcement to the wfan audience. If you'd like to hear it. Sure for the last ten years. I've been archiving certain footage from north islip. And it's a boomer. Is baseball footage. When he wanted to john jastremski award and i want to offer it to the viewership for ten bitcoin. Up putting it out there now interested. I have boomers footage from my school when he dominated All of long island. Baseball only booms are you in for this You know what. I as long as i get a piece of it. Yes on your back hen. Bitcoin what is what is that now. I'm going to need some sort of percentage of it. How long have you been Acquiring this footage as i mentioned for the last decade with with guns. You know we've been doing it very quietly this happening. And this is just our window of opportunity to sort of fleece the pie. Did i say fleece the public. So i gotta tell you. I have been thinking about you and not really not in a weird way but you know once janet yellen came out and started questioning bitcoin in the legitimacy of it and what it takes the amount of electricity that it takes to dabble in bitcoin and why people are using bitcoin. A made me think is still going to be legitimate a couple years from now. Yeah we'll janet. Yellen knows as much about bitcoin as he does about ed hospital. Okay just let's put it out there She's the she. Is the treasury secretary right. And i would say is a as as the great greg. Gm nadi mentioned this is decentralized so quite frankly she has no purview over the crypto currency world which makes it so attractive and obviously you saw those comments took bitcoin from think fifty six thousand down to forty four thousand ish. Now here we are back at fifty thousand and on the flip side of that. You have people like michael sailor. The ceo of a company called micro strategies who's been evangelical in his views and has actually put the stake of his company on the back of bitcoin square yesterday announced that they have bitcoin elon. Musk from tesla. The list goes on and on so. This is becoming more readily accepted. As i've mentioned a number of times. The countdown clock continues to wear. Jerry can hang out with his turkey sandwiches and dogs in south jersey. Jerry co play. Cornhole for while i don't know what he's gonna do all that junk. Bond t shirt is fantastic and phil. Simms is going to have to walk gonna do the morning show with you too. Old dudes too old blood dudes in the morning by way ninety. Bitcoin guy he is on the opposite. I think you and i are probably the same generation. I can't believe you're taking shots at me like this nopal. Stop taking shots. I love you. You know that my let me tell you something if i did have a scotch with one person out there. It's boomer esiason with uh appreciate that saved himself. Did you watch the whole. Dave portnoy vlad panama thing last night. Now it looks like a hostile portnoy's out of his mind sort..
Treasury Secretary Janet Yellen makes push for major stimulus, sees bigger risk in not doing enough
"Doubles down. The stock market record highs seemed to have fizzled in recent days with the s. and p. five hundred falling for a third straight day on thursday fears of inflation may be at work here. There are concerns that if all the stimulus being pumped into the financial system works that it could begin pushing up prices that may be risky for stock market. Investors as money flows back into the rising yield bond market. In fact a sizable selloff has been seen in the us. Government bond market over the last six weeks yields on the ten year treasury note have climbed during this process from one percent in early january. Two one point three percent this week quote. We think it's very important to have a big stimulus package that addresses the pain. This has cost fifteen. Million americans are behind on their rent. Twenty four million adults and twelve million children. Who don't have enough to eat. Small businesses failing and quote so said treasury secretary. Janet yellen in an interview with cnbc yesterday. The treasury secretary added quote. I think the price of doing too little is much higher than the price of doing something big. We think that the benefits will far outweigh the costs in the longer run and quote asked whether the surge in federal spending could prompt a sustained rise in inflation. Yellen responded that. It was a risk but that inflation has been very low for many years and that the fed could always mitigate that risk by raising rates. According to speaker nancy pelosi. The house aims to pass. Its one point nine. Trillion dollar corona virus relief panel an before the end of february to be a deadline on sending key unemployment programs. Going a little deeper here. Yellen said that the white house will likely propose a second economic recovery package later this year that would include spending on longer term investments like infrastructure renewable energy education job training and research and development. This proposal would also include tax increases on corporations and on wealthy americans that would quote phase in slowly over time and quote of course during the campaign. President biden proposed raising the corporate rate to twenty eight percent from the current twenty one percent before president. Trump's tax cuts in two thousand seventeen. The rate was thirty five percent
Fresh update on "yellen" discussed on Boomer & Gio
"But i'm telling you it's just it'll it'll give you some insight into where it's going and i'm just there's there there's more than enough people of significant stature talking about this that eventually it's going to take hold. It is taking hold right now. We're in the midst of we're in the midst of taking old yes. That's what i believe more your bitcoin trader. You should know. I'm not i'm a bit cold. Hodler is what. I am all holder. Well no yes ostler a. You're not a minor. No no no. I'm hodler minor now. i'm not. I'm not no mining. That was a long. And i think that was the very beginning. Okay hodler see if you knew the lingo. So that's the thing but to come in from this like like you don't know what you're talking about kid. Toss your money away. Janet yellen in earth you know dusty ass opinions obviously mean something they don't we're in. We're in a different world now. We're moving forward. Keep each the morning show with boomer esiason and gregg giannotti boomer and geo one last thing here before we get to jerry. That just drives me nuts. People bitcoin crash.
Yellen warns against paring Biden's $1.9T relief package
"Democrats are taking a major step forward to push through President Biden's covert relief plan. The American rescue package by the end of next week, CBS News correspondent Deborah Alfa Rone has detailed Treasury Secretary Janet Yellen believes Mr Biden's 1.9 shrilly in dollar covert relief bill is a big part of the solution. We're digging out of a deep hole last year was the worst year For economic growth Students World War two. The House hopes to vote on the president's stimulus plan a week from today before sending it onto the Senate. Democrats want to approve it before some benefits from the first round of pandemic AIDS expired on March. 14 next up for the president, said the concentration on further research and money. To go towards climate change and an infrastructure plan that threatens to split the Democratic Party Because those plans they're going to cost way more than $2 trillion. 6
Biden Takes To The Road To Push His COVID-19 Relief Plan
"President biden is on the road this week. He wants congress to pass his one point nine trillion dollar covert relief package. And so he's making the case for it directly to american citizens last night. He was in wisconsin for a town hall produced by cnn. and host. anderson. Cooper asked the question. When is every american. Who wants it going to be able to get vaccine by the end of july this year. Npr national political correspondent. Mara liasson is good morning mar. Good morning joe. Biden took a lot of questions about vaccines and also a lot of questions about when schools are going to reopen. How yes school. Openings have become a really controversial issue and a potential vulnerability for the white house. The republicans have been saying that biden is not being aggressive enough on something that too. Many americans is the most important signal of getting back to normal. In addition to the many reasons why it's important for kids and parents to get schools open and one of the reasons that this could be potentially damaging for the white house is that the president's press secretary had set a remarkably low bar of what biden meant by school opening. She said that he wants half of them. Having in person instruction one day per week by the end of his first one hundred days last night biden said that was a mistake in communications. He wants to see k. Through eight classes back five days a week. Here's what he said. We'll be close to that. At the end of the first hundred days you'd have a significant percentage them being able to be opened my rent. My guess is they're going to probably be pushing to open all for all summer to continue like it's different semester days a week or a. I think many of them have five days week. The goal we five days a week. So that's a more ambitious goal. But as biden pointed out is a state and locally controlled thing can set goals put out guidelines. But it's not up to him. Speaking of ambitious he still wants one point nine trillion dollars. There are critics of his plan. There are economists. also who say that's just too much money it seems like biden is saying. Let me make the case to the people who are suffering and explain why we need one point nine trillion. Yes and he did that last night. He pointed out the polls show that many republicans even trump voters are support. The package the package has very very high approval ratings and even though it's not popular with republican members of congress biden also defended the price tag saying. There's a consensus among economists. About spending more rather than less. And you know both biden's treasury secretary janet yellen and the fed chair. Jerome powell have both said that a bigger package is better and if it does spark inflation they can handle that. What's unclear is if the package will get any republican support in congress. Despite those bipartisan talks. You know senate minority leader mitch. Mcconnell told the wall street journal that he thinks the first step to unify republicans and of course. They've been badly split. Deeply divided is to unify around to the relief package. This is what republicans did in two thousand and nine. when they opposed obama's stimulus
Lawmakers Debate Biden's $1.9 Trillion COVID-19 Relief Plan
"The right amount of money to get americans through a few more months of the pandemic president biden is hoping that congress approves covid relief. Now that they're done with impeachment. A lot of the money would finance payments to americans. Fourteen hundred dollars for most people city states and schools would also get some money earlier this month. The white house economic adviser. Jared bernstein said people need it all. We have to hit back hard. We have to hit back strong. If we're going to finally put this dual crisis of the pandemic the economic pain that it is engendered behind us as you may have heard. The administration is asking congress in total for one point nine to really dollars. It politely turned down a call by some republican senators to spend less but economists still have questions about the price tag. So let's talk this through with npr chief. Economics correspondent scott. Horsely morning. good morning steve. Why would there be doubt about one point nine trillion. It is that price tag one of the most prominent critics is larry summers. Who was treasury secretary. In the clinton administration he was also an economic advisor to former president. Obama summers told. Npr's we edition. It is important for the government to go big but maybe he says not this big. If your bathtub isn't fall you turn the faucet on but that doesn't mean you turn it on as hard as you can and as long as you can. The question isn't whether we need bake stimulus. The question is whether we need the biggest stimulus in american history summers whereas spending this much money on short term relief would make it harder for the administration to the kind of long term investments. That it wants to and things like infrastructure. He's also worried that a rescue package. This big could overheat the economy and trigger something. We haven't seen in a long time. Steve inflation well. How worried if it all is the administration about inflation. The administration is a lot more worried about the people who've lost jobs in about the parents who can't work because their kids are in school The latest congressional forecasts predict. It will be twenty twenty four before we get back all the jobs that were lost last year and the administration says that's not good enough treasury secretary. Janet yellen told cnn. She thinks the us could be back full employment next year. If congress passes the president's rescue plan and keep in mind Yellen used to be the chair of the federal reserve where inflation was a big part of her responsibility. I've spent many years studying inflation and worrying about inflation. And i can tell you. We have the tools to deal with that risk if it materializes but we face a huge issue comic challenge here and tremendous suffering in the country. We've got to address that. That's the biggest risk. Let's ask about the reassurance. She offers there when she says we have the tools to deal with the risk of inflation. What she mean traditionally when the economy overheats and that causes a jump in prices. The fed tries to cool things off by raising interest rates and for decades. The fed was really aggressive about that sometimes. Raising rates preemptively. Just in case prices might go up but now the central bank has really changed. Its thinking about that. In recent years we saw unemployment can go a lot lower than many people expect without overheating and triggering inflation and that was really good for a lot of people especially those at the bottom of the income ladder so the current fed chair. Jerome powell says he's just not to worry about inflation even though he says we could see some temporary price hikes later this year if the economy reopened is there's quite a lot of savings on people's balance sheet you can see strong spending growth and there could be some upward pressure on prices. My expectation would be that that that will be neither large nor sustained for a long time. Now inflation has been lower than the federal reserve would like it to be and the central bank says it will only raise interest rates once we get back to full employment and inflation has been running above two percent for a while scott. Thanks for the insights. Really appreciate it. You're very welcome.
Yellen Is Creating a New Senior Treasury Post for Climate Czar
"Secretary. Janet yellen wants to add a new senior treasury post climate czar. According to people familiar with the matter yellen is considering sarah bloom. Raskin a former deputy treasury secretary who worked with yellen on the federal reserve board in interviews and speeches raskin has warned regulators that they need to do more to shield the nation's financial system from the risks posed by climate
Airlines push White House to reject testing for US flights
"Yellen to make it a priority to put American abolitionist Harriet Tubman on the $20 Bill. Airline's gonna make their case today at the White House to avoid a new coronavirus testing rule. Today, CEOs from the country's biggest airlines will meet at the White House. It comes as the airlines are suffering the new cove it very instant slow vaccine rollout have hampered in airline recovery. The CEO is air pushing back against the plan being considered by the Biden administration and CDC to require negative covert tests
Why Biden's economic team would rather go too big on COVID-19 relief
"What is going to happen in this economy. Prison biden treasury secretary yelling and a couple of big name. Ceo's including j p morgan's jimmy diamond and sonia singapore from gap had confab in the oval office. Today the president's economic relief plan of course was the topic at hand. Barabra morty is the deputy director of the national economic council at the white house. Welcome to the program. Thanks for having me. Let's start with the news of the day shall we. The meeting in the oval office today between president biden. Insects are yelling and some big business. Ceo's the head of the chamber of commerce was there jamie diamond from j. p. morgan chase. What is the president trying to do getting big business lined up behind him and this relief plant. Well i think that he is looking for their support for the bill and for their knowledge that we need to go big in this moment. I think what the president is hearing from. His top economic advisers is that We are at a precarious moment. Just last week. The jobs report came out and showed that job. Growth is really stalling in america. Even though we're about ten million jobs short of where we were pre pandemic and so. I'm secretary yellen down to his other economic advisers. There is a uniform belief that we need to go. We need to fundamentally alter the trajectory of the recovery and we need to make sure that we're putting money behind putting a vaccine people's arms because the fastest way to get the economy. Moving again is to make sure that we be cooked. Totally agree with the vaccine being this economy right now. I cannot and will not argue with that. But i do want to ask you about this idea of going big as you know. There are some consternation by some that may be one point. Nine trillion dollars is too much that it is in fact more than the economy needs given where for example. The congressional budget office says. We're going to be this summer Where'd you get one point nine trillion dollars and is that too much. I know we don't believe it's too much. And so i wanna talk a little bit about the process by which the president and his team put this package together. I would describe it as a bottom up process so for example there are nearly seven million americans who are behind on their rent an at risk of addiction. We need to provide rental assistance. Those people in the package provides the match rental assistance needed to make sure we keep them in their homes from secretary yell and two other top economic advisors. You is your an asymmetric risks situation. And by that. I mean the risks of going to small with this package far outweigh the risks of going too big so we add that all up. I think the president is very comfortable with the size of the american rescue plan. And i think the american people agree with him. Because there's something like seventy percents support for the package. Let's talk about the the flip side of of going through small which is the concern. The president has one of the concerns about going to big is that there may be some inflation coming in this economy with so much money coming in so soon with the pent up demand. That is sure to happen. Once people can go out and spend and travel and and enjoy life again Are you not worried about that. Well a group monitoring all sorts of different risks to economy and secretary yellen and and others have made clear that they are carefully monitoring the risks of inflation issue. Is that if you do too. Little means that people are going to go hungry. It means that people are going to be booted out of their homes in the middle of pandemic and those are just not acceptable outcomes to the president and look. We are far below the feds inflation target and have been for a very very long time and not to get too wonky owner. I think that the chair powell and others have said the goal is actually to increase in play shen to get closer to that two percent target that they have were. We're a long ways off. I i wonder how Given the the makeup of of the president's economic team many of whom were around in two thousand eight and two thousand nine how scarred people are by the prospect of going to small with a relief. Bill well i can't speak for others and i was not personally there in two thousand and eight thousand nine but i do think that there is a an assessment of the latest and best economic evidence. You look at a where interest rates have been how they have been low extended period of time and you weigh You costs and the risks of adding to the deficit. And i think it very clearly comes out in favour of going big me pick up on something you just said because it struck me when the president said something similar a number of weeks ago that He is he is taking a page from the republicans. Playbook saying look we have to borrow. We have to do deficit spending. It doesn't matter how we pay for it. And i i. Maybe you don't know this. Maybe weren't in those conversations but how did he come around to. You know what we're going to borrow the money the heck with it again. He and his team have been Deep into the economic evidence. And i think over the last five or ten years yet. Economic evidence in support of more robust deficit financing particularly for a temporary emergency measures such as. This one is pretty airtight. The president has been clear that when it comes to permanent changes in policy in other words policy that involves spending each and every year for the foreseeable future that he does think that that should be offset with new tax increases on the wealthy and on big corporations so again i think that is a view that is backed up by the best economic evans
Yellen downplays inflation fears amid Biden's $1.9T stimulus bill
"Congress and the white house continued to parlay over. What exactly they are going to do about another round of virus. Relief president biden's one point nine trillion dollar plan specifically. We are going to talk about the of it my predecessor. You know his indicated that there's a chance that this will cause inflation to rise and that's also where risk that we have to consider. That was of course treasury secretary janet. Yellen on cnn this weekend responding to an op. Ed by former treasury secretary. Larry summers who said that. One point nine trillion dollars is too much relief in part because it might cause inflation to which yellen said this. I've spent many years studying inflation and worrying about inflation. And i can tell you. We have the tools to deal with at risk. If it
Yellen: Biden's plan could restore full employment by 2022
"The Treasury Secretary Janet Yellen says the country is still in a deep hole with millions of lost jobs with the president's $1.9 trillion relief plan might generate enough growth to restore full employment by next year. Republican senators argue that buttons proposal is too expensive. Meanwhile, House Democrats plan to propose booting the child tax credit. It's $2000 right now the plan would take it to $3600. The proposal would be part of the Copan 19 relief bill, but they're running it right now, and it is expected to probably follow the Biden plan very
Yellen: Biden's plan could restore full employment by 2022
"Is still in a deep hole with millions of lost jobs because of the pandemic. But she says President Biden's $1.9 trillion relief plan could generate enough growth to restore by next year. What economists call full employment. Carol spoke about that with CBS News business analyst Jill Schlessinger sponsored by the pathways at Warrington, premier personal care and memory care community. If we got a big boost in stimulus, there is a lot of data from last year that could Indicate that this year could be a very big turning point for the economy again. It depends the nature of the stimulus. It's not just that all stimulus dollars are created equally. If the money goes to the right people, the ones who are sidelined already, that will go a long way to get us back on to where we were prior to this pandemic recession. You know, we can't start filing our taxes on Friday. You know, I've read a number of different articles kind of advising people whether they should file early or wait for this pandemic relief to be passed. What? What should people what do people need to know? Here before filing well, Well, First of all, number one is that I don't think that we're going to get a delay in tax filing like we did last year, so it will be in April 15th deadline. The other thing to remember is your filing for last year, so I wouldn't necessarily go ahead and wait. Unless you believe you owed a lot of money in taxes. Most people get refunds and remember that if for some reason, you did not get an economic impact payment a stimulus check last year and you think you were due one. You have to file and there's something there's a way to actually get that money. If you're do it right. It's called the recovery rebate credit. So even if you didn't file a return, or you didn't have enough money to file a return in the past, you may have to actually file just to get last year's credit. And also get that second payment that $600 so actually filing early is going to serve you better remember stimulus money not taxable, however. Unemployment benefits. They are taxable, and I know that's a drag. But I really have to underscore any money you received from any programs, state or federal taxable to you. You should get a tax form that will give you the documentation that you need. However, Pennsylvania and New Jersey or
Vast majority of the 346,000 workers who vanished from the U.S. labor force in January are women
"Most recent jobs report shows that positions held by women amount to a vast majority of those lost. The nation's new Treasury secretary hopes the president's stimulus package will change that Secretary Janet Yellen said on CBS Face the Nation. President Biden's $1.9 Trillion American Rescue plan is geared to help all citizens that need it. Places emphasis on lifting additional burdens that women take on getting Children back into school, providing paid family and medical leave during this'll crisis so that women don't have to leave their jobs and also says the president continues to look at who should qualify to get $1400 stimulus checks and says he will negotiate with Congress to decide that
Yellen says job market still "in a deep hole" with "a long way to dig out"
"Win. Treasury Secretary Janet Yellen says she's worried about the state of the job market. The job market is stolen. We saw that in Friday's employment report. Yellen says. The U. S is deep in the hole in that area, and there's a long way to go until we're out of it. Yellin says many women are dealing with child care issues, which puts
Yellen: Biden's plan could restore full employment by 2022
"Janet Yellen says President Biden's Coben 19 relief plan could restore full employment by 2022 a
Yellen says job market still "in a deep hole" with "a long way to dig out"
"Secretary Janet Yellen admits she's worried about the state of the job market is the job market is stolen. We saw that in Friday's employment report on CBS's face The Nation yelling, claimed the U. S is deep in the hole in that area, and there is a long way to go until we're out of it. Ellen also touched on the problem of fewer women in the workforce, she says. Many are dealing with child care issues, which puts them in a tough situation. Yelling claim Biden's coronavirus relief plan tackles problems women are facing. Ellen is the first woman to lead the Treasury after also being the first female to head the Federal Reserve.
Yellen says job market still "in a deep hole" with "a long way to dig out"
"Secretary Janet Yellen says she's worried about the state of the job market. The job market is stalling. We saw that in Friday's employment report. Yellen says. The U. S is deep in the hole in the area, and there's a long way to go until we're out of it. Yellin says many women are dealing with child care issues, which puts them in a tough situation.
"yellen" Discussed on Post Reports
"And what would you say her. Economic philosophy is her number one economic philosophy. She is a labor economist. So has been very focused on. How do we get people back to work. And how do we raise wages in. She's best known in the last few years. For being a strong proponent that you can run the economy hot so you can let things. Growth continued a pickup and risk even a little bit of inflation in order to get unemployment down and get more people back to work the supporting some further strengthening in the job market and is sustained return to two percent inflation. And i'm curious about how this job might be different from other jobs. That janet yellen has had in the past. obviously she's had high profile government jobs before as you said. She has been in the white house. She was the chair of the federal reserve. But what's different about the treasury. It's huge includes things like the internal revenue service so there'll be some new areas that she hasn't managed before directly but i think the biggest challenge for her is very political job and while she's been good at navigating politics. When you're at the fed you try to be independent. You tried it. you know. You're serving all americans and yet she'll be doing that in treasury to but she's much more out there as one of joe biden's top voice his top people in the administration and so that will inherently make her know seen as as very one sided. And what has the response. Been to biden's choice. Janet yellen so far. It's been overwhelmingly positive. A lot of people are saying. She's absolutely the right choice for this time. For this moment that we're still in a deep recession. We still have nearly ten million jobs that were lost in april. That haven't come back yet. And that's exactly who we want at the helm this woman. Who's been steady hand. Who's had a proven track record at the federal reserve. And who's someone who's respected on wall street. You saw a lot of executives applaud her and also among labor advocates progressive. Democrats who applaud her. She went after wells fargo at the end of her. Federal reserve tenure. She's obviously been huge champion of what's known as full employment of ways to get people back to work so it's pretty rare that you see that much praise. I would note that even quite a few republicans have come out. Chuck grassley. The senator from iowa came out and said. She thought that she had a pretty good chance of getting confirmed which is at strong signal. And even larry cudlow. President trump's top economic advisor recently told the washington post that he thought she was a good choice. I think she knows the ropes. I think she did a decent job at the fed. I might not agree with her on every point. But i think she has very sensible views on the economy. So why does it seem like so. Many people trust janet yellen like on both sides of the aisle. I think this is really rare right now in washington that someone gets such overwhelming praise from both sides while success data speak for itself in the reality is in her four years at charing. The federal reserve from two thousand fourteen to two thousand eighteen is the washington. Post has chronicle unemployment fell the most under that for year tenure of any fed chair as since world war two and at the same time. The stock market rose really dramatically during that period. So that's why wall street really likes her and is pretty happy. And that's why regular people really like. Her generally are pretty happy because she was able to achieve results as well for the overall economy by getting so many people back to work in that period. So what do you think she would want to do in her. First one hundred days as the treasury secretary her number one job is to get this economy back on track. We are only half recovered. We've got millions of people who still need to get back to work weary. Potentially having a crisis coming in early twenty twenty one in this is really scary for our nation and yes. These vaccines are coming. Hopefully they start getting distributed widely in the spring and summer. But it's gonna take a little bit longer to get the economy going. After that. she's a huge proponent of stimulus. oh more government aid. I think you'll see her. Be a strong advocate. On capitol hill using using those ties she has with both republicans and democrats to try to push a deal. And i think you'll also see her work with her former employer the federal reserve work on creative solutions between the fed and the treasury to continue to provide lifelines for the economy and particularly small business in state and local governments as we move forward. So i understand. Janet yellen has also spent a lot of time thinking about wages and in particular wages for workers and why they may be having risen at the same rate that you would expect considering the economic growth that we've seen in recent years yellen has written for years including with her husband who's a nobel prize winner about these issues of why wages in the united states for a lot of working class people have basically been stagnant since the eighties. And she's written about this in the eighties and again in the nineties and it's a dynamic than other than the late nineties. We just haven't seen much wage growth for a lot of the bottom ninety percent of americans and that begins to weigh on the economy. We are spending economy when incomes are growing. They aren't able to go out and spend and there's a lot of debate about what's driving that you know isn't the decline of unions is the fact that companies are getting larger and larger and they tend to have more power over setting wages in an industry. The larger they'd get so she won't be able to singlehandedly. Change that overnight. But i think again. She's a believer in the best way to get wages and give more power to workers is to run a hot economy and you saw that last year wages. We're finally starting to rise in two thousand nineteen by pretty good clip and a big part of that was it was hard for companies to find workers and when they got a scramble. They're going to pay more. And what's the state of the treasury right. Now that janet yellen is about to inherit. I think it's it's better than people might realize as treasury secretary steven mnuchin has been there all four years of trump's terms and that's provided a bit of continuity Like many agencies there are some openings that we're not filled but by and large treasury is is really huge organization with the irs with departments that handle international finance. The treasury also issues a government debts. And we've been issuing quite large amounts of government debt this year in order to pay for the stimulus that we did earlier in the year to try to help with the kobe crisis. So in that sense. I think she's inheriting a strong institution but she wants to leave or mark. She's going to be the first female treasury secretary and she knows how important that is for generations to come. And how do you think she will leave that mark. I'm just curious like she hasn't taken this position yet. She hasn't even been confirmed yet. But how do you think her legacy could play out as.
"yellen" Discussed on What Next | Daily News and Analysis
"She is an extremely <Speech_Male> powerful woman in <Speech_Male> america. Right like <Speech_Male> that is there is <Speech_Male> there is no question <Speech_Male> and she again is <Speech_Male> just led. One of <Speech_Male> you know she. She's <Speech_Male> led this pathbreaking <Speech_Male> career <Speech_Male> that <Speech_Male> In the <Speech_Male> comes off <Speech_Male> like a mild mannered academic <Speech_Male> who just <Speech_Male> sort of like <Speech_Male> just <Speech_Male> has somehow managed <Speech_Male> to become this <Speech_Male> person who helps run the world <Speech_Male> <SpeakerChange> which <Speech_Male> is sort <Speech_Female> of amazing <Speech_Female> <Speech_Male> <SpeakerChange> Have you <Speech_Male> met her. No <Speech_Male> i have not met yellen. <Speech_Male> Unlike the <Speech_Male> the the <Speech_Male> fed beat reporters. <Speech_Male> Who actually <Speech_Male> like you know. Go <Speech_Male> to the go <Speech_Male> to the press conferences <Speech_Male> and stuff and <Speech_Male> chat <Speech_Male> with the powerful people. I'm <Speech_Male> usually just <SpeakerChange> behind my computer <Speech_Male> watching it all unfold <Speech_Female> <Speech_Female> <Speech_Female> if you did meet her <Speech_Male> like. I'm curious what you'd <Speech_Male> ask about <Speech_Male> <Speech_Male> what <Speech_Male> i ask about. <Speech_Male> <Speech_Male> I would ask about <Speech_Male> like what she thinks. Her biggest <Speech_Male> mistakes have been <Speech_Male> policy wise. <Speech_Male> I would also <Speech_Male> ask if <Speech_Male> she would <Speech_Male> have wanted. My big concern <Speech_Male> right now is whether she <Silence> would ever <Speech_Male> advised <Speech_Male> by <Speech_Male> to accept <Speech_Male> some sort of deficit <Speech_Male> reduction deal. <Speech_Male> I think that is <Speech_Male> one question kind <Speech_Male> of hanging over her right <Speech_Male> now because she <Speech_Male> <Speech_Male> you know <Speech_Male> she has said <Speech_Male> multiple <Speech_Male> times <Speech_Male> that the <Speech_Male> the <Speech_Male> us national debt is unsustainable <Speech_Male> <Speech_Male> unsustainable <SpeakerChange> <Speech_Female> And of course <Speech_Female> right now. That <Speech_Female> debt is massive <Speech_Female> because of all the stimulus <Speech_Male> that we've put forward <Speech_Male> yet. It's big <Speech_Male> but it's not necessarily. <Speech_Male> It's not really a problem <Speech_Male> because we <Speech_Male> interest <Speech_Male> rates are really low <Speech_Male> and we don't pay <Speech_Male> that much on the debt <Speech_Male> as a percentage <Speech_Male> of gdp <Speech_Male> because interest rates are <Speech_Male> so low <Speech_Male> And <Speech_Male> in turn the interest <Speech_Male> rates are low <Speech_Male> suggests that <Speech_Male> the financial markets don't <Speech_Male> really see the debt. Is that <Speech_Male> big a problem. <Speech_Male> You know <Speech_Male> thankfully what yellen has <Speech_Male> said. Is that right now. <Speech_Male> She thinks the economy <Speech_Male> needs <Speech_Male> needs. <Speech_Male> Another jolt <Speech_Male> needs more spending that <Speech_Male> we shouldn't be worried <Speech_Male> we we. We need <Speech_Male> more relief that we should <Speech_Male> not be worried about. <Speech_Male> You <Speech_Male> know adding a a <Speech_Male> few extra <Speech_Male> dollars to <Speech_Male> our national credit <Speech_Male> card. <Speech_Male> But i i would <Speech_Male> want to know from her <Speech_Male> whether or not <Speech_Male> she thinks <Speech_Male> you know info <Speech_Male> in three years <Speech_Male> and four years. If <Speech_Male> we're back at full employment <Speech_Male> should we be talking <Speech_Male> about deficit <Speech_Male> reduction. Personally <Speech_Male> i would prefer that. We not <Speech_Male> be and <Speech_Male> i but i <Speech_Telephony_Male> i would want to <Speech_Male> know. If she's going to <Speech_Male> <Speech_Male> nudge the <Speech_Music_Male> <Advertisement> president in that direction <Speech_Music_Male> <Advertisement> <Music> <Music> <Speech_Music_Male> <Advertisement> <SpeakerChange> <Silence> <Advertisement> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> jordan weisman. <Speech_Music_Male> <Advertisement> Thank you so much for joining me. <Speech_Music_Male> <Advertisement> It was <Speech_Music_Male> <Advertisement> a pleasure <Speech_Music_Male> <Advertisement> <Speech_Music_Female> <Advertisement> jordan. <Speech_Music_Male> <Advertisement> Weisman covers economy <Music> <Advertisement> for slate. <Silence> <Speech_Music_Male> <SpeakerChange> And <Speech_Music_Female> that's the show. <Speech_Music_Female> <Advertisement> What next is <Speech_Music_Female> by schwartz. <Speech_Music_Female> <Advertisement> Daniel hewitt mary <Speech_Music_Female> <Advertisement> wilson and starting <Speech_Music_Female> today davis <Speech_Music_Female> <Advertisement> land. <Speech_Music_Female> <Advertisement> Welcome davis. <Speech_Music_Female> <Advertisement> we're also <Speech_Music_Female> <Advertisement> getting an assist. These days <Speech_Music_Female> <Advertisement> from frankie kelly. <Speech_Music_Female> <Advertisement> We are led <Speech_Music_Female> <Advertisement>
"yellen" Discussed on What Next | Daily News and Analysis
"The problem president. Trump's treasury secretary steve mnuchin was tasked with solving was the kobe related. Recession mnuchin has been the negotiator for trump with nancy. Pelosi and mcconnell on speed. Dial even if he hasn't had a lot of success as of late. So i asked jordan. Is that the role he sees. Janet yellen slotting into he said it's hard to tell part of the difficulty of talking about what any member of the trump of the administration's role will be is that we just don't know what the biden administration will have the opportunity to do right like he could be the first democratic president since grover cleveland to take office without a democratic congress right. He's just like it. This might be situation where there's very little that the administration can actually pass in which case we're gonna be talking about making policy through executive orders through regulatory action. It's not necessarily going to be you know her trying to single handedly pour money into the economy and i wonder too how much president trump can sort of tie janet. Yellen hands in this interstitial period. We're in now. We've already seen a little bit of it. Because it looks like steve mnuchin has has moved this four hundred fifty five billion dollars in aid money. That was sitting around out of yeltsin's reach. Can you explain a little bit. What happened there. Yes so this has been one of the wonky and slightly sinister plotlines. it's been unfolding since the election. When congress created the cares act it helped the federal reserve. Set up these emergency lending programs right. Some people referred to this as the corporate bail out but essentially what it did was. It helped the fed setup. These lending facilities that they lend money or that were they could buy corporate bonds right. That was what was supposed to help. Keep the kind of help make sure that large companies keep borrowing money easily As the entire world freaked out about covid It also helps set up these programs for State and local governments and for small and mid sized businesses. They called it the main street lending program and those programs you know they actually weren't used very much as why we have four hundred fifty five billion dollars. Leftover still sort of basically these programs sort of acted like a security blanket for financial markets. You know the fact that it was there calmed a lot of people down. And it helped. Market go back to functioning normal The the ones for state and local governments in small businesses didn't get used much probably because the terms just weren't very good. They weren't very appealing but they were around and technically janet yellen could restart programs once. She's confirmed she would have the power to say okay. Federal reserve let. Let's get going with these emergency lending programs again but mnuchin is essentially trying to take this money and kind of stowed away in the treasury's general fund where she can't touch it. There was some talk about. Maybe you could make these programmes more appealing and change their terms a bit so they could be used to kind of give the economy a boost rather than just being the security blanket. They had been before. He's he's sort of attempting to foreclose that possibility you yellen was head of the federal reserve. You called her the most powerful woman in america. Yeah i guess. I wonder now that it looks like she's heading treasury. Is that still true. Is it true again. And i guess what i'm getting at is is janet yellen the powerful thing or the position..
"yellen" Discussed on The Journal.
"The seventeen nineties but the treasury doesn't just fund the government and collect taxes. It also monitors the value of the dollar and carries out international sanctions and the person who leads the treasury also has to deal with politics. A big part of the job is negotiating deals with congress. This is the most political job that janet yellen has ever had. She was the chair of the council of economic advisors in the late ninety so that means she was in. The white house was exposed to politics but most of her career and economic policy has been at the fed which is more of an insulated institution and prizes itself on being a political. You know and there's reason to think that yellen doesn't love the political part of the job. Her husband is george aker law. He won a nobel prize in economics. And there's this really interesting passage that he wrote in his autobiography for the nobel prize where he talks about playing a supporting role to janet yellen. So here's the sentence where he talks about her role in politics. He says janet was at the fed. I supported her as much as possible by taking over household duties later when she was at the white house by rohan providing psychological support in the daily political storms was yet more important so like in the yellen. Aker lofthouse household these daily portable storms. Were something that affected both of them and she's about to walk into storms. That are probably going to be much more ferocious than they were back in the late. Nineteen ninety s the ferocious political storms. Yellen will have to weather in her new job. That's after the break..
"yellen" Discussed on Start Here
"How it got there. The intrepid explorers go down to investigate the Alien life form yesterday. They revealed on routine helicopter mission. This month to count sheep. They saw something way bigger than a big horn. It was this tall rectangular prism. A monolith heard this kind of stuff. The workers landed there chopper and went to check it out. You actually see the photos. I of bighorns on these huge rocks then staying whatever. It is installed on the ground than the next voting you see is to dude standing next to it examining it finally standing on each other's shoulders to see what is on up doesn't like anything special but in this part of the country it's not unusual for people to spot what they claim are ufo's or pieces of debris allegedly coming from space now the bureau of land management investigating. Just how that mystery. Monolith came to be in move is not going to quiet. The conspiracy theorists authorities are not disclosing. Exactly where this was found. They say it's truly in the middle of nowhere. They're worried people would actually put themselves in danger if they drove out looking for it. You've got to think this has got to be some kind of artistic project right. Someone wanted us to find this. Just in case the utah state government is telling people and this is a quote it is illegal to install structures or art without authorization on federally managed public lands. No matter what planet. You're from david blaine living there for like six months or something. Hey we're going to be going dark for thanksgiving and the day after so you will not hear show tomorrow or friday. We're going to be spending some time with members of our households cooking some food recharging so we will see you bright and early monday morning. Can't tell you how thankful i am for the team. That has been working. So hard on this podcast. Specifically i am thankful for producers. David rhind kelly tarez josh cohen trevor hastings aerial gesture terra gimbal and lauren ephron thanks to eric johnson lucia brown john newman russo able as and stationed sheesh go special. Thanks week to connor finnegan chris. Bury halley freighter lewis millman and michelle franzen of course so thankful to have you listening. Thanks for welcoming us into your mornings and into your ears. A brad milkey see.
"yellen" Discussed on CNBC's Fast Money
"Dan nathan and seagrass tonight on fast over cup. That's what morgan stanley. Mike wilson is calling this market while says we could be due for big pullback snap takes the spotlight the company rolling out a new service to take on tiktok by one of our traders think. This could be a big bet that pays off and later. We are counting down to christmas that they good old fashioned game up shopping. Drop and find out which retail stocks belong on this year's naughty or nice list. We start off with late breaking news on president-elect joe biden's treasury secretary pick right to see who's got the details steve. Thanks very much melissa. Cnbc independently confirming that president elect. Joe biden will nominate former fed chair. Janet yellen to be treasury secretary story. I broken earlier today. By the wall street journal if confirmed yellen and internationally regarded economist will be the first woman secretary in the treasury's two hundred and thirty one year history. She would be the second fed chair to hold the post of treasury secretary. Here's some of the highlights of a long career as an economist and public servant. First woman fed chair from two thousand fourteen to two thousand eighteen raising inequality to an issue that the fed should deal with fed vice chair. Two thousand ten to two thousand fourteen. Staffers go fed president and of course. Ca chair under president clinton from ninety seven to ninety nine young can be expected to favour additional relief and stimulus for the us economy believing less in the ability of markets to navigate out of a recession on their own without government aid. Here's what she thought needed to be done. In april in an interview with cnbc if the corona virus lingered longer than expected if this lasts long time they'll need to be additional support for unemployment insurance possibly further checks to support other needs. That has sold tab. I think state and local governments need more support than the cares act provided perhaps health insurance particularly for workers whose are got health insurance through their jobs and mets been severed. Those would be things on on my list. Yellen could also be expected to be more in line with democrats on the issue of holding the line on existing banking regulation. Perhaps disappointing bankers. Who would have hoped for more deregulation or second trump administration but not astride the brasses elizabeth. Warren would have been on the issue. Her biggest challenge as treasury secretary should be expected to back up her boss politically on economic issues. But it's not uncommon for good economics to conflict. Melissa with politics on that point. Though steve treasury secretary she would be expected. I would imagine to also be the bridge between the administration and congress when it comes to stimulus. It's clear that she is in favor of bigger bolder stimulus but do you think that she's got the political chops to play that role you know. Don't know because here's the issue as fed chair her her willingness and the tradition of the fed was that they weren't really all that political. They didn't really go in there and lobby for things they'd say. Hey we probably should have some stimulus. How much or what exactly you do. That's up to you now. The shoe's on the other foot so to speak where now the administration could be specifically proposing. Here's what we need to do. And she's going to have to go in and lobby for it both in public and of course behind the scenes. All right it's the stimulus where she stands low rates. We know where she stands banking regulation. We know where she stands. How about things like the dollar as well as trade. Some of the other sort of policy oriented questions at the markets might. Have you know it'll be interesting to hear what she thinks about trade. I think you nailed a really good issue there. Melissa because i think she would have had been part of the consensus that favored free trade. It's hard to sort of come up. Learn economics and not be generally in favour of free trade helping. The people were hurt by it but not necessarily katie board the door and keep out the exports. I think the biden administration will have to. Its way very carefully here. Our relationship with china president trump has reset the issue in a big way. And that's going to be an issue. For biden to navigate. It could be an issue. For janet yellen navigate on the issue of the dollar. I think she'll stick to the old saw of they. Don't talk about the dollar very much the dollar's going to go the way it's going to go and specifically intervening on the dollar would not expect to be a policy of the biden administration and certainly not the yellow treasury steve. It's clear that the market likes. I guess my question to you is being that. She wore the fed chair hat. How much of that is transferable. I mean is there a certain skill set that she's going to bring the treasury that maybe somebody in the past going back to hamilton has never had. I don't. I don't think so in part because i think the economics as she sees them or the same economic says she goes over to the to the treasury. And it's a matter of. She was in all that excited about the trump corporate tax cuts. I don't think she was excited about them. Over at the fed. I don't think she crosses over to the treasury side. And she's going to be more excited about them. I think she'll probably have to do more in terms of international relations but she did a lot of that at the fed as well. So i'm not really sure that there's something specific about it except that she's going to have to sort of follow the economics of watch. She said and written about economics. And you understand that. Economists differ on how much they want the free market to run things but in general they want the free market to run things democratic. Or republican economists. I think that's a sensor a signal. Maybe that biden is going to really side on the favor of the free market with more intervention than the republican side but not really Dismissive by any shape or form. Yeah it'll be interesting to see if she does anything to close the gap in the inequalities that are developing in this economy because of the pandemic given her background is a labor economist and also stamps as fed chair..
"yellen" Discussed on Heather Dubrow's World
"High school and it was like this regional little theater and it was for west side story and i never worked at this theater before it was a summer thing and it was he's one of those groups where it's all the same people all the time so they had already probably decided. Hey you're gonna be maria. You're gonna you're gonna. You're gonna be that but a bunch of my friends ends from my school when an audition okay and so i just became apart. I mean my hair. The hoops the outfit. I walked in and crush the song and they looked they went yeah. Okay and i got the part of anita. Look there are. I'm sure there were plenty of other people from their group. That would have done a great job. It was one of the best of my life really yeah and a couple. Other of my friends got other parts to yeah but the point is they already knew oh so and so's going to play this part so and so's going to play that part boa and then me and a couple of people came in with a whole different thing and they went whoa. This is cool cat. You're that person yeah yeah. Just go in there thinking yeah go in there. You've got this jess. I go you be their solution right and most importantly have fun on good because you got to get on that stage. You gotta enjoy that audition. Don't worry if you make a mistake. Don't think about it. You keep going good. Oh that's so great. I'm all about about motivational speeches radio but you know what jessica yellen is here so i'm gonna bring her. In in one second jessica yellen unbelievable woman so bright eight famously left c._n._n. Correspondent to the white house <hes> and is now delivering news in a different way and i want you to hear about her and see what she's doing and i want to talk okay but how we're getting our news because this is pretty incredible and then and then i'll tell you about my comedy thing. Okay good okay yes. I'm saving that for last right because it's hilarious. Thank you all right before we get started c._b._d. Is all the rage but did you know there are all kinds of brands out there some good and some not so god fun fact even though c._d.'s federally legal to buy online. Thanks for him bill. It's not regulated by the f._d._a. So half the time. You have no idea what you're getting. That's why i trust canvas. They include third party test results in the package so i know it's high quality i can see exactly what's in every bottle. You don't believe.
"yellen" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"And tv we spoke with alan greenspan he of course would not comment on janet yellen legacy i as you think about her legacy as the outgoing chair of course she was the first female chair of the federal reserve what else comes to mind when you think about her legacy and her term i'm i'm glad you asked the that question because uh when you consider the state of the union address them all the claims that are being made as to who gets credit for what's going on i don't think that uh either the previous administration or the current administration can claim credit for what's happened as far as the economy is concerned i think that is a tribute to janet yellen that she is help guide the economy and policy when administrations in congress or sitting on their hands it's really hard to point to specific initiatives that either administration put in place that you couldn't linked to the overall performance of the economy uh i know republicans who claim the tax cut uh but that's in the last month and a half or thereabouts that dozen explain the past four and five years of growth that the economy has said so i think uh the position that chairman powell uh uh the has when it comes to the economy that he's inherited that's her legacy at this juncture okay so you mentioned jay powell let's go with going forward what's his biggest headwind this year what would be his biggest challenge allow you said he's been given a decent economy here right i think this is a case where he wants.
"yellen" Discussed on Let's Talk Bitcoin!
"Um because most people didn't know what was going on wind the forks happened you you could have made money by buying the coin beforehand because it is it is almost like win win the farc started it is almost like value came out of thin air because this the total of the two was actually greater vigor than than the original so you you could have a you could have made some moneytrading that but but ultimately i think that that that is an effect that will go away in a win win people learn to pay attention better what do you mean while he will awhile is your fair is janet yellen yet here now and her so i mean that the the fact that you can make money doing this means that people will figure figure it out right and then once they get used to it then you can't make money doing it anymore so in the future if there's a fork we will just see the the two new bitcoin's they they will have the same some their price these some of their prices will be the same as the the bitcoin before beforehand is it's sort of like in arbitrage they're like in perfect information thing yeah you mean cairo so i don't think that so i don't think that there is an inflationary tendency i i think of the original bitcoin is being like an index fund now because any any of the new bitcoin's could split and then i could have have new things so it is like an index fund and i think that that is great.
"yellen" Discussed on Marketplace All-in-One
"This marketplace podcast is brought to you by casper casper's asleep brand the continues to revolutionize its line of products to create an exceptionally comfortable sleep experience one night at a time with three mattress models the original casper the wave and the essential caster mattresses are perfectly designed to soothe in cradle your natural geometry not to mention the readable design helps you sleep cool and regulates your body temperature throughout the night and it's delivered to your door in a small how did they do that sized box with free shipping and returns in the us and canada but the best part is you can be sure of your purchase with casper's one hundred nights risk free sleep on it trial after all you spend a third of your life sleeping so you should be comfortable start sleeping ahead of the curve with casper get fifty dollars toward any mattress purchased by visiting caspercommorning and using the code morning at checkout that's caspercommorning and use offer code morning for fifty dollars off your mattress purchase terms and conditions apply wrapping up janet yellen leadership of the fat from marketplace in new york i'm tracy samuelson in for david brancaccio the federal reserve's openmarket committee will meet this week coming off a strong jobs report last week it's widely expected to raise its benchmark interest rate a quarter of a percent it's third increase this year slow and gradual is the name of the game here to talk the fed with us this morning is julia coronado she's the founder of macro policy perspectives julia what are you looking for at this meeting it should be a pretty our home affair are after knock on on any humming along and everybody expecting them to i great for the third time this year under from from reassurance in that the economy is starting to look normal again and so it should be pretty blog they acquired fred meetings go i guess if there's one notable thing about it it's that that's the last fomc meeting of the year the last time we'll hear from janet yellen as chair so as nostalgic as one might be able to get around these.
"yellen" Discussed on The Jason Stapleton Program
"Do you do you have no clue of the other damage that you've done yeah you've managed to keep the bulk of it out of the out of the actual economy lee you've got massive bubbles build that a lot of people are looking at and thinking there rich of their lot wealthier than they really are because they're invested in the stock market keeps going up and the reality is at one point that thing is going to collapse and apparently nobody is paying any attention to that and nobody is nobody is holding the federal reserve accountable for the mistakes of mixed that's what really bothers me is it these people are treated as though they are the smartest guys in the room they are treated like their stuff don't stink an aide they're treated as though they really know and understand what it is that they're doing and nothing could be further from the truth janet yellen is staring down the barrel of a massive economic collapse not just national but global and she is talking with all of her other central bank friends trying to figure out we created this mess how the hack do we get out and you know what every one of them is saying i don't know let's keep interest rates low maybe we could start raise them slowly the only reason the raising interest rates right now and paint agent is as important the only reason the raising interest rates right now is so that the win the recession hits they have some place to cut from they would love to be able to get interest rates the two and a half percent that way at least when the next collapse occurs they can cut interest rates and say they're doing something.
"yellen" Discussed on WSJ What's News
"Market you're gonna put in amman more pressure and resources prices are going to have to go up at some point but she did nod to uh you know the dow that they can't say with certainty that that's going to happen and that maybe there is something else going on in the economy and all signals point to another rate hike at next month's meeting right yes markets widely anticipate the fed to raise rates by another quarterpoint in december and janet yellen uh in her wednesday testimony and the uh the fed governor jerome powell who's been nominated to succeed her at his confirmation hearing on tuesday they said nothing to dissuade markets from those views uh powell was probably a little bit more uh you know conclusive when he said the the case for a rate increases coming together yellen didn't really um answer the question directly on that but instead ellis straight it's you know everything that the fed is thinking about right now which is really that on the one hand the unemployment rate is getting quite low getting to levels were typically you would begin to see more price pressures uh and the economy is expanding uh solidly uh so that those would argue to raise rates gradually and on the other hand you do have this inflation softness um the third factor which got a fair amount of attention at wednesday's hearing with janet yellen is the prospect of a tax cut uh republicans seem much closer now to passing a tax cut and the question is how will the fed respond to that because if you're stimulating growth at a time when the economies already growing pretty solidly than you might see concern over over having that inflation that's been missing and the and the fed wants to keep prices stable they don't want the economy to get too hot in a way that they would have to raise rates very aggressively so that probably suggests even more for a rate increase in december.
"yellen" Discussed on WSJ What's News
"Thanks for listening everyone outgoing federal reserve chair janet yellen testified in front of the joint economic committee on wednesday she said the central bank would continue with the path of gradual interest rate increases since the economy is performing mostly as expected we continue to expect a gradual increases in the federal funds rate will be appropriate to sustain healthy labour market in stabilize inflation around the fomc two percent objective that expectation is based on the view that the current level of the federal funds rate remain somewhat below its neutral level that is the rate that is neither expansionary nor contractionary and keeps the economy operating on an even keel covering the hearing for the wall street journal is nick tim who joins us from washington nick fed chair yellen as mentioned was upbeat about the economy but didn't she seem a little unsure as to y inflation has been rather sluggish that seems to be the weak spot and economic growth inflation has definitely been the puzzle for the fed this year the economy has otherwise performed in line with their expectations but uh you would you know if you were at the fed you would think that if the economy had a four percent unemployment rate rose four point one percent unemployment rate in october that's down from four point eight percent a year ago you would think that maybe you'd be seeing more of a uh at least steady inflation pressures and in fact inflation weakened in the spring of this year and despite expectations that it would rebound after that it hasn't so now the question for the fed is war if the economy is doing so well what's going on with inflation and janet yellen in her testimony said they they still expect that this is transitory because with tighter later.
"yellen" Discussed on WSJ What's News
"The took a deep into space before reentering the earth's atmosphere matt lauer coanchor of nbc's today show has been fired for inappropriate sexual behavior in the workplace nbc news chairman andy lack said in a memo to staff wednesday that the network received a detailed complaint from a colleague about misconduct by mr lower that represented quote a clear violation of our company standards and garrison keillor most famous as the creator and host of a prairie home companion on minnesota public radio has been fired effective immediately over what the network said were allegations of his inappropriate behaviour with an individual who worked with them facing a significant revenue shortfall this year buzzfeed is laying off about 100 employees and reorganizing its advertising sales and business operations as it moves away from relying purely on native advertising buzzfeed plans to reduce its us staff by eight percent with all the cuts coming from the business and sale side of the organization coming up we'll discuss fed chair janet yellen congressional testimony this is what's news from the wall street journal you've heard it a million times location location location well that's because locations important and if the reason this ad targeted at eu is located before podcast about the history of ice dancing if you own a business you know the importance of location which is why you need a realtor a member of the national association of realtors are real estate expert who can help you find the perfect location to grow so get what your business needs get realtor.
"yellen" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"Welcome to the bloomberg pno podcast i'm pimm fox along with my cohost lisa abramowicz each day we bring you the most important noteworthy and useful interviews for you and your money whether you're at the grocery store or the trading floor find the bloomberg pno podcast on apple podcast the soundcloud and bloombergcom the kfqd an with us this morning as we await testimony from a current fed chair janet yellen i is dan moss he is economics editor a columnist for bloomberg view as well as dave wilson who is our permanent bitcoin watcher and is washing fee price soriano we've got a few other bitcoin watcher arrived fair i threw out a bid corn chart of the day out today all right all gets that new second dan i want to start with you at i want to talk about janet yellen with the gloves off she is no longer going to be fed chair come early next year do you think that she's going to get kind of feisty in and and say things that are sort of controversial today she's feisty person having listened to her in her role as vicechair her role as chained before that in the clinton administration when she was chair of the cia she's not a boastful person very humble person but look she wouldn't be him and if she didn't think he's my chance to do a victory lap all right so what's he gonna do it just basically going to go over the progress the fed did i made under her control or is there going to be possibly more of something more here it it depends what she's asked i mean there will certainly be an element of recapping where we've been where we are now don't forget she's still chair at this point until early february she will be running the fomc meeting next month a jay powell yesterday tipped the committee's hand somewhat by saying the case was coming together not such a surprise the famous dots lost published in september projected that built there's a number of things that he didn't say that she may now feel free to address.
"yellen" Discussed on WSJ What's News
"What's news from the wall street journal top stories and timely fact i'm charlie turner in new york the equi facts databreach has shown how illsuited the social security number is for being the cornerstone of americans financial identity but what do we replace it with more on that after these top stories a source as president donald trump plants to meet thursday with federal reserve chair janet yellen to discuss the possibility of nominating her for a second term as central bank chief ms yellen's fouryear term is chair expires in early february she's one of several people under consideration for the fed job along with former fed governor kevin wars current governor jerome powell stanford university economist john taylor and national economic council director gary cohn at the white house monday mr trump and senate majority leader mitch mcconnell made a show of unity in the leadership of the republican party saying they had a common agenda and describing themselves as long time france the president's remarks which came after he and mr mcconnell had lunch together at the white house followed months of tension between the two republican leaders president trump added another item monday to his packed legislative agenda saying the white house was examining a welfare overhaul to prevent people taking advantage of the system congress is facing a long todo list of items including passing a budget and advancing attacks overhaul a bipartisan senate effort to shore up the affordable care act payments to insurers to help poor people afford health insurance and legislation touching on illegal emigrants brought to the us has children tuesday's earnings calendar include quarterly report from these heavyweights ibm goldman sachs morgan stanley johnson johnson harley davidson and united health.
"yellen" Discussed on WSJ What's News
"Support for wsj comes from comcast committed to improving your customer service experience with two our appointment windows including nights and weekends because they should fit into your life not the other way around learn more at xfinity dot com slash service they need fair uneasy peace between donald trump and janet yellen what's news from the wall street journal top stories without the noise from the news room in new york i'm jennifer strong the president's relationship with the federal reserve has so far been cordial but that doesn't mean chairwoman janet yellen is likely to stay on joining us from our newsroom in washington with the details is the wall street journal's nick timorous nick given the kind of language used during the presidential race things seemed to be going pretty smoothly here that's right the president pretty firstly criticized the fed and janet yellen in the final weeks of last year's presidential campaign but things have taken of different turn uh during the first five months of his administration since taking office the president and his advisors haven't publicly questioned fed actions including the decision to raise rates in march and signals that the fed is going to raise rates again at the end of its two day meeting that concludes wednesday but you say it is seen as especially likely that yellen is going to be nominated again well it's it's just hard to tell i think with this administration so the white house is preparing to begin its search for the next chair of the fed.