janet yellen: let me start with my letter to netanyahu. the treasury is concerned, we have ongoing relations with israel and we are concerned about israel's economy. we are also concerned about the west bank economy. i have written to the prime minister to discuss my concerns about the west bank and actions that israel has taken that i believe are seriously impairing the west bank economy, reducing income and also with the same time having an adverse impact on israel and it looks like we may have a solution with respect to revenue. but blocking west bank residents from working it has a significant negative effect on incomes in the west bank and israel is also dependent on that labor force and is having in adverse effect on israel's economy. i'm also concerned about barriers to movement that israel has set up within the west bank that makes it difficult for commerce to take place. these are issues that we are involved in and we want to weigh in. it was just sent a day or two ago. >> next question. >> thank you for taking my question. my que

." >> coming up, a conversation with treasury secretary janet yellen and michigan governor gretchen whitmer. they talk about the u.s. economy, workforce development and the manufacturing industry. this event hosted by the detroit economic club is about 30 minutes. it helped unleash the american economy. unemployment is at record lows and consumer confidence is up. factories are being built at record pace and america's leading the world. in other words -- is that bad as 3g eats sleeps and dreams -- and after earning her ph.d. in economics from yale only a handful of women in her class she entered academia before answering the call to public service. this is a woman with a resume that is long. i'll highlight a few things but she was chair the of the council of economic advisers for president clinton, president they federal reserve bank of san francisco, vice chair and chair of the federal reserve board of governors and as of january 26, 2021 the treasury secretary of the united states. she has an incredible amount of responsibility on her shoulders, an incredible breadth of experience. just o

yellen. [applause] >> thank you. thank you so much. >> madam secretary welcome to michigan. >> i'm delighted to be in michigan and thank you so much for having me. >> we are pleased to have you and there's a lot of excitement from folks here who have come to watch this conversation antic cited to hear from you. >> i'd like to start by asking you a question. president biden and i are very proud of the inflation reduction act it's a piece of legislation the most historic legislation in our countries history to address climate change and clean energy. i think it has an especially important implication for michigan. my question to you is how is it going? how are you finding implementation and challenges and how is it going here in michigan? >> first i'll start by saying we are so grateful for the incredible investment at the federal level. between the administration and our great congressional delegation we are able to bring in resources for michigan as the conduit. implementation is the name of

janet yellen: let me start with my letter to netanyahu. treasury is concerned, we have ongoing relations with israel and we are concerned about israel's economy. we are also concerned about the west bank economy. i have written to the prime minister to discuss my concerns about the west bank and actions that israel has taken that i believe are seriously impairing the west bank economy, reducing income and also with the same time having an adverse impact on israel and it looks like we may have a solution with respect to revenue. but blocking west bank residents from working it has a significant negative effect on incomes in the west bank and israel is also dependent on that labor force and is having in adverse effect on israel's economy. i'm also concerned about barriers to movement that israel has set up within the west bank that makes it difficult for commerce to take place. these are issues that we are involved in and we want to weigh in. it was just sent a day or two ago. >> next question. >> thank you for taking my question. my questio

and, look, janet yellen all but said that.aid, listen, she doesn't expect prices to come down, but she's not worried about it because supposedly wages have gone up so, therefore, it's a nonevent. cheryl: well, i mean, obviously her testimony she got pretty beat up by several there that were fighter questions at her in particular because, look, inflation has been a may if your problem under president biden. and she's the one that you would think is going to be there to solve it along with jerome powell, and this is an election year, kenny. >> right. cheryl: let's talk about technology because, obviously -- >> yep. cheryl: -- that was the story of 2023. but as we go into 2024, there's a lot of commentary out there now that traders and investors need to broaden out where they are putting their money. they've got to look now for new opportunities especially if we are facing potentially a rough second quarter in 2024. >> and i think that's right. listen, technology's not going away. while it was the story in '23, it will continue t

and, look, janet yellen all but said that. said, listen, she doesn't expect prices to come down, but she's not worried about it because supposedly wages have gone up so, therefore, it's a nonevent. cheryl: well, i mean, obviously her testimony she got pretty beat up by several there that were fighter questions at her in particular because, look, inflation has been a may if your problem under president biden. and she's the one that you would think is going to be there to solve it along with jerome powell, and this is an election year, kenny. >> right. cheryl: let's talk about technology because, obviously -- >> yep. cheryl: -- that was the story of 2023. but as we go into 2024, there's a lot of commentary out there now that traders and investors need to broaden out where they are putting their money. they've got to look now for new opportunities especially if we are facing potentially a rough second quarter in 2024. >> and i think that's right. listen, technology's not going away. while it was the story in '23, it will continue

and, look, janet yellen all but said that.isten, she doesn't expect prices to come down, but she's not worried about it because supposedly wages have gone up so, therefore, it's a nonevent. cheryl: well, i mean, obviously her testimony she got pretty beat up by several there that were fighter questions at her in particular because, look, inflation has been a may if your problem under president biden. and she's the one that you would think is going to be there to solve it along with jerome powell, and this is an election year, kenny. >> right. cheryl: let's talk about technology because, obviously -- >> yep. cheryl: -- that was the story of 2023. but as we go into 2024, there's a lot of commentary out there now that traders and investors need to broaden out where they are putting their money. they've got to look now for new opportunities especially if we are facing potentially a rough second quarter in 2024. >> and i think that's right. listen, technology's not going away. while it was the story in '23, it will continue to be p

and, look, janet yellen all but said that.he said, listen, she doesn't expect prices to come down, but she's not worried about it because supposedly wages have gone up so, therefore, it's a nonevent. cheryl: well, i mean, obviously her testimony she got pretty beat up by several there that were fighter questions at her in particular because, look, inflation has been a may if your problem under president biden. and she's the one that you would think is going to be there to solve it along with jerome powell, and this is an election year, kenny. >> right. cheryl: let's talk about technology because, obviously -- >> yep. cheryl: -- that was the story of 2023. but as we go into 2024, there's a lot of commentary out there now that traders and investors need to broaden out where they are putting their money. they've got to look now for new opportunities especially if we are facing potentially a rough second quarter in 2024. >> and i think that's right. listen, technology's not going away. while it was the story in '23, it will contin

janet yellen is not in control of the treasury, she is not in control of these processes. absolutely flabbergasted if she really was complicit in doing this, but she doesn't know what's going on in the treasury -- brian: right. >> and she is a answering honestly there, but it's a tragic shame. the treasury should be impartial, unbiased and straight. all of that. and this appeared, this really is a very high smell on the treasury and should really not have happened. and i know what they tried to do. this is under the nixon administration and then under the ford administration where i was privy to all of this, and those people then would not have allowed it. and janet yellen should have been in charge and should not have allowed it and should have known about it. she didn't know about it, brian, and that's, that's scary. brian: i think that's a great point, great historical context. i want to go to the economy, art. fortune magazine reporting that despite the biden administration touting the economy, they're not convincing worried voters. and let me just give you, my theory

>> the fact that janet yellen thinks this is under control or she has things under control is terrifyingthe banking regional crisis and half a dozen other things that are ruining our financial system right now. jamie dimon is the one you want to focus on we talk about the biggest of the best companies is the smartest guy on wall street and fees building into real estate make sense for jp and not because it makes sense for everybody else. maria: we heard from howard and steve and i interviewed them both and davos. the blackstone group the largest owner of commercial real estate in the world. he said commercial real estate is okay for office space will have a major problem howard not nick told me to expect $700 billion in default from this problem office space. how was it possible if you're getting 700 billion in default it will not impact the broader banks and not take the market down. >> that is a question i would ask janet yellen pointblank i lifted the japanese real estate crisis i went to the texas s&l crisis i've seen this before you can have appraisals on assets that don't exist or

we did hear from janet yellen -- warning of the failure one or more of these institutions.hat does it mean now versus the future for banks? >> she made it clear that now that the overnight -- oversight council has powers to deem a nonbank as systemically important or too big to fail, that really the panel is studying what risks those nonbank firms may hold, but also if they faced a shot, if there were stressors and one failed, just knowing there might be certain counterparty risk to the system, and basically this was a signal that now the panel has powers to deem these firms too big to fail, studying is underway into the sector. annabelle: so talk more about that significant, you're saying there is a too big to fail label that is likely >> >> possibly. possibly, though not yet. the regulators have made clear. secretary ellen and others want to get more granular detail, understanding in what ways if there were a shock to the system how they might respond in expanding their balance sheet and the times they have with the banking system. she also spoke to concerns about not hav

new york post with treasury secretary janet yellen grilled today on capitol hill on how the treasuryepartment got banks to do surveillance on american's trans-accounting standards boards in stores like -- transactions and stores like dick's sporting good went deeper than just the probe. he's going to talk about treasury secretary yellen undercutting bidenomics and testifying consumer prices "will not be coming down any time soon". coming up on "the evening edit". ♪ get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management. with the majority of my patients with sensitivity i see irritated gums and weak enamel. sensodyne sensitivity gum and enamel it relieves sensitivity helps restore gum health and rehardens enamel. i am a big advocate of recommending things that i

janet yellen talks about ways the money could be used.teral for getting funding for ukraine. it is an idea out there. unclear whether there would be progress on this. ukraine needs the money. annabelle: we have seen zelenskyy being quite mobile talking with different world leaders of late. that includes making a second trip to saudi arabia. he met with the crown prince there. what was the outcome of those negotiations and how did he come to go to saudi arabia? bruce: good question. saudi arabia is one of the few countries that has hosted vladimir putin since this full-scale invasion started two years ago. china being another one. saudi arabia could play an important role in any diplomatic effort to end this war. president zelenskyy as you said, this is the second trip to saudi arabia this year. he has been talking up a blueprint for a peace proposal. that's clearly something he would like the saudi's to get on board with. it's really unclear how much progress they made on that. no sign there is any agreement there. it is something he's go

the fact that janet yellen doesn't have the answer means they're doing it.igital had the story and we got the answer from janet yellen right there front and center. i worry about when 9/11 happened we had to find out who the terrorists were here and unwind the hamas and hezbollah group here and we went in and started tracking some of their movements and transactions and we did unwind a lot of the financing. we never thought this stuff would be used on us. and now the scary thing is a lot of those same methods seem to be used on us. we're not the terrorists. i understand the january 6th nothing good about it, i got it. understood it. this is all they are focused on period. i've never seen such resourcefulness in pursuing one day a couple of hours as bad as it was, they are still investigating like there is no other crimes, like we don't have thousands pouring across our border every single day. >> harris: it's so true. as i pointed out it scooped up more than just those people who might have been in washington, d.c. it scooped up everybody who went to those r

: we hit the road with treasury secretary janet yellen in the battleground state of michigan, where thes one of voters' top concerns. do you think the president can win in michigan in november? >> well, i certainly hope so. i think the economy is going to be good and strong. >> reporter: inflation rose 3.1% in january, more than expected, driving the higher prices, cancer insurance surged 21% over the past year. rent has risen 6%. and day care costs are up 5%. are you and president biden happy with where inflation is right now? >> well, look, we know that americans are experiencing discomfort because of some important prices are higher than they were prepandemic. but what i think is really important is that wages have gone up along with prices. so people are better off than they were prepandemic. >> reporter: but the three democratic voters we met up with detroit's cadillac square diner are facing a different reality. do you feel like inflation is getting better? >> i have a photo booth business. i do some graphic design. you have to get create alternative supplement, because it is not

. >> reporter: we hit the road with treasury secretary janet yellen in the battleground state of michiganthe economy is one of voters top concerns. you think the president can win in michigan in november? >> well, i certainly hope so. i think the economy is going to be good and strong. >> reporter: inflation rose 3.1% in january, more than expected, driving the higher prices, car insurance surged 21e last year picot rent has risen 6%. and day care costs are up 5%. are you and president biden happy with where inflation is right now? >> well, look, we know that americans are experiencing discomfort because some important prices are higher than they were pre-pandemic, but what i think is really important is that wages have gone up, along with prices. so people are better off than they were pre-pandemic. >> reporter: but the three democratic voters we met up with at detroit's cadillac square diner are facing a different reality. do you feel like inflation is getting better? >> i do not feel like it is getting better. i have a photo booth business. i do some graphic design. so you have to get

. >> reporter: we hit the road with treasury secretary janet yellen in the battleground state of michiganthe economy is one of voters' top concerns. do you think the president can win in michigan in november? >> well, i certainly hope so. i think the economy is going to be good and strong. >> reporter: inflation rose 3.1% in january, more than expected. driving the higher prices, car insurance surged 21% over the last year. rent has risen 6%. and day care costs are up 5%. are you and president biden happy with where inflation is right now? >> well, look, we know that americans are experiencing discomfort because some important prices are higher than they were pre-pandemic, but what i think is really important is that wages have gone up, along with prices. so, people are better off than they were pre-pandemic. >> reporter: but the three democratic voters we met up with at detroit's cadillac square diner are facing a different reality. do you feel like inflation is getting better? >> i do not feel like it is getting better. i have a photo booth business. i do some graphic design. so, you ha

. >>> treasury secretary janet yellen back on capitol hill.acing awkward questions on how the administration's been tracking our purchases. watch this. >> secretary yellen, what do you say to americans who feel like you're calling them an extremist just because where they like to shop and what they like to read? you have nothing to say to the american people? stuart: that's hillary vaughn for you. she really gets at it, doesn't she? the administration is accused of targeting conservatives. we have the full story. >>> president biden visited new york yesterday with, new york city, that is. he came to ask donors for money, and he completely ignored the migrant crisis and how his policies are ruining this city. he comes to the city, takes money out and ignores the migrant problem. what a guy. claudia tenney on that next. ♪ ♪ j.p. morgan wealth management knows it's easy to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find

annmarie: someone in washington asked about this, treasury secretary janet yellen. she said she was concerned. she didn't want to discuss an individual bank in depth, but it has the guys of washington about if this does not stay idiosyncratic. jonathan: bank problem, market problem, sector problem? lisa: at the moment it is a sector program. -- sector problem. it is also a question with respect to specific rings that are going to the 100 billion dollar level of assets" regulations. if you saw, they were european banks that are struggling on the heels of this because of commercial real estate exposure in the united states. there is the sniffing out of something that is may be bigger but maybe people are looking for things to worry about. jonathan: frankfurt, tokyo, new york. this is becoming a global issue. lisa: that is why it is not clear if it is isolated to this sector. it is idiosyncratic. i know that you love that word. jonathan: if you get enough idiosyncratic issues on top of each other it is no longer idiosyncratic. lisa: we will have to wait and see if ther

treasury secretary janet yellen testifies on state of the u.s. financial system before the senate banking committee. later faa administrator takes questions from lawmakers about aviation safety the agency's review of a mishap on a recent alaska airlines flight. that and more coming up tonight on cspan2. ♪ foresees bands of voices 2024 we are asking voters across the country what issue is most important to you in the selection and why? >> the most important issue in this election is immigration. >> economics. >> i think homelessness is an issue that needs to be addressed. >> we invite you to share your voice going to our website c-span.org/camping 2024 select the records your voice tab record a thirty second video telling us your issue and why. c-span voices 2024 be a part of the conversation. ♪ >> the weeks that lie ahead friedan's first major television series unfolds the famous and influential men and women who occupy those seats are going to have a lot to say about freedman's view of the society in which we live today on his solutions on the i

annabelle: we just heard from janet yellen that expressing concerns about commercial real estate.lse are we hearing from regulators as well as the twonycb executives that just left. diana: new york community bancorp most doubled in size in the past 15 months, thanks to its acquisitions of flagstar, its mortgage unit, and its takeover of the signature bank loans. because of that, it attracted some regulatory pressure from the banking regulator, occ, which has been exercising control over its dividend payouts. we had a story yesterday about the bank's's chief risk officer and his chief audit officer left before the specific measures with regulators are reviewed. right now we don't know if management push them up, or if the regulators prompted them out, or if they simply wish to leave, but it is interesting to see it leaving -- see them leaving, from a risk and compliance perspective. haidi: we are still haunted with what happened with signature bank last year. should we be looking out for more risks? is there a depositor outflow pressure likely saw with svb? we have seen similar iss

. ♪ ♪ ♪ ♪ ♪ ♪ treasury second janet yellen failing to answer lawmakers' questions whether the departmentactions, hillary. >> treasury secretary janet yellen didn't deny this surveillance scheme by federal investigators to try to get banks to snoop on customer transbeing aions fox exclusively reported federal government profiled who they thought would be person of interest in investigation wand banks to scrub customer transactions. >> trump sport might have transactions with word maga or trump in it, even singling by religion religion techs could be sign of homegrown violent extremist yellen didn't have much explanation. hoo have youing to provide this information. >> the job is to work with financial institutions -- >> are they instructured to search americans legal transactions in amendment to surveil their purchases? >> i -- i -- i promised a thorough look into every -- >> this is really -- to get you just as quickly as possible. >> while we wait for treasury secretary to dig into this find out what exactly is happening will be interesting to see maria if this is still happening right

treasury secretary janet yellen says u.s. regulators are monitoring risks facing nonbank mortgage lenders. she spoke at a senate banking committee hearing. >> if sock -- ipsoc is focusing on that because nonmortgage companies like deposits which banks have. there is concern in stressful market conditions we could see the failure of one of these. tom: let's bring in paul dobson for asian markets. what is your take and what we have been hearing from janet yellen? what it spells about the depths of concerns in washington d.c.? >> this is a long-term risk, not an immediate risk, and if you look at the context in which the question was asked it was about how you were getting to grips with this are monitoring it, not is this something that is about to blow up in our face. interest rates have been at these levels for a sustained period of time, and there have not been any particular stresses faced by nonbank lenders, so it is more a case they should be monitoring it over the long-term, and that is the context in which this hearing w

treary secretary janet yellen testifies on the financial system ahe economic outlook. that gets underway at 9:00 a.m. eastern. yo c also watch our live coverage oral line at

>> reporter: janet yellen did not deny the surveillance scheme by federal investigators to try to getcustomer transactions as far as their investigation to january 6th. fox digital exclusively reported the federal government profiled who they thought would be persons of interest and it came down to people who love to shop at dick's sporting-goods or bass pro shop. might have purchased religious books. a lot of this sounds like most americans. those are the red flags they wanted to look out for him a sign someone could be a homegrown violent extremist. yellen when asked about this yesterday did not deny it but did not have much explanation either. >> we received the letter from you, i believe, on this topic and we intend to investigate fully and respond. >> have you instructed banks and financial institutions to provide this information? >> the job is to work with financial institutions. >> financial institutions to search americans legal transactions to survey their purchases? >> i promise a thorough look into everything. >> reporter: the treasury secretary looks into this. is this st

meanwhile — staying the us — the treasury secretary janet yellen has tried to appease investors thatown ? and rate cuts are coming. yesterday we saw shares dip after a hotter than expected read on the country's prices. take a listen to what she had to say. it was a tad higher than most people were expecting and the market responded to that. but i think it is a tremendous mistake to focus on minor fluctuations in and to fail to see the longer term and bigger trend. and the trend here is that inflation is moving decisively down. and so we're going to show that pragmatic and still have the resources to invest in the education of our. we did have a burst of inflation, really. thousands of ride—hailing and delivery workers in the us and the uk went on strike on valentine's day, calling for higher pay and other changes to their working conditions. the effort comes after a typo in lyft�*s earnings report triggered a more than 60%jump in its share price. the bbc�*s michelle fleury has more from new york. this past valentine's day, if you were heading out of town and needed a ride, or if you

so, market anchoring on trump is ahead in the polls, the victory november 5, but janet yellen is also at polls. since 1952 the market has never had a down year when an incumbent is running. never had a down year. why is that? because the economic apparatus in the white house is pumping away. so, providing a lot of liquidity, spending a lot of money, releasing a lot of the programs that were passed last year. maybe they have delayed. so, they are trying to reach some kind of christian of this summer in the market like that. i would say right now this is their nirvana situation for the market. trump is ahead in the polls, markets anchoring on november 5, and janet yellen sees the same polls and she is pumping away as hard as she can. david: one of the things i found fascinating in your note is you have a chart in it. that basically attracts -- that basically tracks where the s&p 500 falls. it tends to say the more trump gets ahead in the polls the better the market does. and when biting gets ahead it is flat or down. scott: that is correct. i did put the normal disclaimers. there were n

treasury secretary janet yellen in brazil ahead of meetings with her counterparts from g20 countries. of the closing statement by the g20 seeded by bloomberg news says the growing economy -- global economy also has a softer chance of pulling of a globe landing. really those views from janet yellen underscore what has been the big focus point for markets this week. last week we were all about earnings. this week, we are all about the numbers and what we will get out of economic data. . we have been speaking throughout the course of this week, we got the fed's's preferred inflation gauge that is due out later. is that going to show inflationary pressures still? we have definitely seen that repricing from investors. that expectation that we will see 75 basis points of cuts over the course of 2024 permit brings us back in line with the projection from the fed instead. that sets the tone of the course of this week is that focus on the economy. it is really back to being about central bank here. haidi: it is, especially ahead of the inflation numbers we are expecting out of the u.s. and aus

just like janet yellen last week kind of ran a victory lap. when it comes to the administration and what janet yellen is saying, that both of these things are huge. jerome powell is not working for the administration but he is signaling to the markets, yes, that rate cut is likely coming, not today because he certainly doesn't want to be too early, but the administration is also realizing, you laid it out, they've got all the great economic data. they need to do a better job messaging this. and you said, listen, trump does such a great job lying about it in convincing people, democrats need to do a better job of talking. look at our own production? why aren't we hearing from this white house? we are producing more oil than we ever had in history. why? because they don't want to piece off, oops, they don't want to anger the far left. just like oftentimes in democratic terms, democrats should talk about economic winds. they are often concerned about the people who are left out. and i get that. but they have got to start running a victory lap. be

janet yellen learned how to game the street. put less pressure on the bond market. time. that's where we are right now. here is the thing, if rates linger higher for longer it will invite the risk of recession. there is deededly different reactions for the stock market when it comes to recession. just cutting rates alone doesn't mean anything. you can look at the chart. the fed rate hike to the last rate cut. it is a different experience. sometimes the market is up, sometimes it is down. average of the stock market is recession it's down. if there is not recession it is up 31%. let's bring in mosaic chief strategist phil blancato. phil, i need your help over here. there was a period of time where the fed said we're not hiking anymore. we're cutting. between the last hike and the last cut, the markets were through the roof. the bond market was through the roof. more recently that doesn't happen. look at this down, these are just kind of paltry, what happened? what is the difference? >> real easy answer. here you had much greater ability to manipulate the money side.

host: in a recent setting, janet yellen gave her description of the path the federal government is on. [video clip] >> i believe we need to reduce deficits and stay on a fiscally sustainable path. thus far, in real terms the interest burden has remained below historical norms in the president's budget substantial reduction would keep us like comfortable levels. but we need to work together to try to achieve those things. host: what do you think? guest: the secretary's concern about the debt trajectory. focus on those interest numbers i am struck by this number that we will spend more on interest payments then defense. she is correct that the president's budget last year put out a plan that would reduce the deficit because of trillions in tax increases. i give credit for them to put out a plan to reduce the deficit you haven't heard the white house talk about it. he doesn't own the economy. the president can't be accountable for all of them but how much does the president talk about the issue and push to put it on the agenda? after a responsible budget heavy on the tax side increase. t

. >> sandra: treasury secretary janet yellen repeatedly dodging the question when asked if her department instructed banks to spy on americans in a massive surveillance campaign. seems like a simple question, should have a simple answer. i'm sandra smith in new york. john, great to be with you. >> john: should have a simple answer, but didn't. john roberts in washington. our own fox digital reported last month after viewing documents obtained by the house judiciary committee that data shows banks combed through customer's records for terms like maga and trump. >> sandra: pretty unbelievable. and included the names of stores like dick's sporting goods, cabelas, and even bass pro shops. >> john: did you buy a baseball glove from dick's? some say it's invasion of privacy. >> sandra: hillary, thanks for kicking things off for us. did treasury secretary yellen really not have anything to say about the question on surveiling this surveillance scheme? >> yeah, sandra, it's interesting. her response a little surprising and shocking, basically saying we'll look into it, we'll get back to you. the

i think this is not -- we heard janet yellen say it on cnbc -- this is not systemic. this is the case of a small bank that got over their skis when they bought the signature assets. you know what they did that was the most wrong, and this goes to your point of horrible communication, they didn't bring in more management a year ago with very large bank experience. >> isn't it worse if it's not systemic but if it's idiosyncratic to the stock you happen to own? >> yes, and so i willsell it, just not at this price. i think it's the wrong price right now. >> some of the evidence we've seen from committee members is trimming big winners in this market. because things, to some, have gotten a limb bit crazy. steph is out of meta. josh clips nvidia 20%. joe trims crowdstrike. bill has been trimming nvidia and amd over the last many weeks, too. i was like, all right, we're on the doorstep of 5,000 on the s&p. let's go back to november 1st and look at some of the biggest winners for the committee since that period of time when you really have the last leg to 5k, so to speak, and

treary secretary janet yellen testifies on the financial system ahe economic outlook. that gets underway at 9:00 a.m. eastern. yo c also watch our live coverage oral line at c-span.org we are joined now by california republican congressman. he is one of those republicans that votedli no yesterday on may orca's. why? >> the same reason i oppose the same impeachments of donald trump. mary defined as high crimes and other misdemeanors. it is very specific to meaning. may orca's is guilty of mall administration on a truly cosmic scale. that is not in impeachable offense and we know that because they consider that during their deliberations and rejected it to place the executive branch to destroy the entire architecture of the constitution itself. in a fantasy world, two thirds of theom senate would actually remove them from office, they would bed replaced with another cabinet secretary carrying out exactly the same policy. replace cortez. this will not be solved by replacing one unit can only be solved and that can only be done by the american people at the ballot box. the

janet yellen wrapping up her testimony on capitol hill just moments ago.ton correspondent megan casella has the highlights. >> reporter: as you know, new york community bank shares have been under pressure in recent days after fitch downgraded the stock this a fourth quarter loss by the bank. so secretary yellen was asked about the bank today. she was careful to say she was not be commenting on individual banks, but she was saying that the treasury is in touch with bank supervisors and monitoring banking stresses carefully. and listen to this -- >> commercial real estate is an area that we've long been aware could create financial stability risks or losses in the banking system, and this is something that requires careful supervisory attention. >> reporter: in her testimony, she acknowledged the risk of high vacancy rates in commercial real estate. she acknowledged the number of loans coming due and needing refinancing coming up. so she says it will put "a lot of stress on the property owners, but bank supervisors are focused on this issue." overall, she s

>> i will say i'm not taking questions. >> treasury secretary janet yellen may nothing be taking questionsasury department is being accused of targeting americans' bank transactions as part of its hunt for people involved in january 6th. fox obtained recommendations distributed to banks telling them to look for red flags that could be a sign that someone is a homegrown violent extremist. that included political terms in transactions like trump, maga, biden, or kamala. of large purchase was from dicks sporting goods, cabela's or bass pro shops or purchases of any religious books. the customers combined bank activity had to meet a certain threshold before they would be flagged. >> secretary yellen, do you believe that people who purchase bibles are extremists? >> certainly not. and in the aftermath of the january 6th attack, there were efforts to work with financial institutions to determine what had happened. >> treasury department routinely shares recommendations with financial institutions through its financial crimes enforcement network so they can be on the lookout for possible financia

janet yellen making some comments, we'll get to that in a minute. in the meantime, if the markets were an of course to pus, it's one of the bunch of tent calls waving around trying to grab investors' attention with different messages. stocks are really hunting for direction. yes, the dow has been in the green most of the session, up 60 points, had been up 165. but that hunt for direction really stands out with the s&p. the s&p has a crossed unchanged line 138 times this session alone. right now it's up 3 points. the nasdaq, been struggling, down 16. the markets got a message from cleveland federal reserve president loretta midwest per. mester, who is a voting member, intimated the door to interest rate cuts is not open right now because if the possibility still exists that inflation could hang around longer than anyone if hoped. ergo, the door is shut for the moment she did say, quote, the fed can lower rates later this year if the economy performs as preponderated -- expected. we all know that's a big if. so the 2-year yield, which had been as high

thursday, all eyes will be on janet yellen testifying in the senate. friday, we get the u.s.evisions. for my final thought, let's look at the fed speak coming up next week. a lot of people setting out to read the tea leaves. rafael kicks it off on monday. followed by loretta and neil. it's a very busy week ahead. a lot of divergence on what we might see in terms of expectations for rate cuts, quantitative tightening and the impacts on the market all around. especially the banking system where we are starting to see some fragility once again trade this comes after we have seen a round trip in two year yields, 20 basis points higher on the day. a lot of economic data ahead. from new york, that does it for us. same time, same place next week. this is "bloomberg real yield." and this is bloomberg. ♪ xfinity rewards presents: '1st and 10gs.' xfinity is giving away ten grand to a new lucky winner for every first and ten during the big game. enter daily through february 9th for a chance to win 10gs. with the ultimate speed, power, and reliability the xfinity 10g network is made for

we fought tooth and nail to make sure we get in with janet yellen. we thought of how we need to have a treasury secretary. and i want to be clear one of the surprises in the book, steve actually had a sense of humor. some of the jokes he told me are kind of funny. i've got my differences but this guy is probably. the problem is so much of the treasury and apartment it is a revolving door between treasury and the federal reserve. nine times out of ten if you go to the treasury department, they are going to give the wall street federal reserve view of the world and we need to change that internally. so i go to the very clear. it has to be about opponents, bank bailouts. i talked a little bit in the book about how jay powell would coming up and ask you to rescue x or y when the mortgage market and again, one of the nicest in the world. that's part of the problem he cannot say no when people call him for money. you can't go to these jobs if you want everybody to like you. so again, the fed really might. i was clear they were making my job harder. they we

." >> coming up tonight on c-span, treasury secretary janet yellen holding a news conference ahead ofhe g-20 meeting in brazil. then republican and democrat ebb congressional leaders speaking to the press after meeting with president biden and vice president harris at the white house to negotiate federal spending with a potential shutdown looming this fday at midnight. and a senate homeland security committee examining how russia is evading controls that is being used again ukraine. that and more coming up tonight on c-span. >> c-span is funded

president biden sent treasury secretary janet yellen to spread the good economic news, and jo ling kent took a ride with treasury secretary janet yellen in the battleground state of michigan with the economy a top priority for voters here. >> do you think the president can win in michigan in november? >> well, i certainly hope so. i think the economy is going to be good and strong. >> reporter: the michigan economy is critical for biden's re-election campaign. he beat trump by just over 150,000 votes here in 2020. >> are you and president biden happy with where inflation is right now? >> well, look, we know that americans here experiencing discomfort because some important prices are higher than they were pre-pandemic. but what i think is really important is that wages have gone up along with prices. >> how much of a risk are we facing of inflation making a comeback? >> americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them. >> reporter: keeping inflation up, car insurance surged 21% over the last year. rent

let's shift to treasury secretary janet yellen, she says regulators are monitoring risks from nonbanktgage lenders. they rely on short-term funding and access emergency fed funds. she said the oversight council is paying attention. >> we're focused on that because nonbank mortgage companies lack assess -- access to deposits that banks have. in stressful market conditions we could see failure. haidi: south korea's shin han financials says they have a buffer against risky property bets. in his first interview, the ceo said the lender can stay resilient amid credit concerns in real estate. >> our exposure to u.s. real estate is 2.4 trillion and the risk amounts to 1.4 trillion. we built up 20 billion in provisions and for though 1.4 trillion, we've built up 20 billion in provisions. i'm thinking that will be managed within them. haidi: jin said they are considering canceling their own shares in addition to buybacks. he said the government is taking a page out of japan's playbook to tackle the korea discounts. >> korea has a lot of industries that are leading but the valuation of stocks i

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just like janet yellen last week kind of ran a victory lap. when it comes to the administration and janet lowe yellen doing, that both of these things are huge. jerome powell is not working for the administration but he is signaling to the markets, yes, that rate cut is likely coming, not today because he certainly doesn't want to be too early, but the administration is also realizing, you laid it out, they've got all the great economic data. they need to do a better job messaging this. and you said, listen, trump does such a great job lying about it in convincing people, democrats need to do a better job of talking. look at our own production? why aren't we hearing from this white house? we are producing more oil than we ever had in history. why? because they don't want to piece off, oops, they don't want to anger the far left. just like oftentimes in democratic terms, democrats should talk about economic winds. they are often concerned about the people who are left out. and i get that. but they have got to start running a victory lap. becaus