he is the chairman of standard charter joining us from washington. janet yellen is speaking right now at the imf. we will go to her when she begins her q and a portion. the s&p 500 off by 1.7%, the nasdaq losing 2.2%. this is bloomberg. ♪ >> it shouldn't be surprising what's going on in the markets. i am surprised every time i see someone on tv is surprised by it. we had zero interest rates for a decade, massive stimulus, the first land war in europe in 70 years, the highest inflation in 40 years, and the fed had to move. scarlet: that was james gorman, ceo and chairman of morgan stanley. james gorman speaking earlier on the earnings call along with citi and jp morgan. let's get more on the overall bank earnings picture. office stephen biggar -- also with us . what is the big takeaway? sonali: you have the stocks of jp morgan, citigroup higher on the day, two are up more than 4%, showing you the boost in net income is staving off a few worries given the you are seeing some provisioning for loan losses tick higher. jamie dimon said if the economic environment were

the idea by the way, originated with a us treasury secretary, janet the yellen. but you know, what it also means is that they're probably going to try to enforce it. on other countries around the world by using control manipulation of shipping ensures, in other words, if the shippers of a rush and oil and sell it for above that price cap will vendor the ships are going to get insurance. just another way of, you know, the west play and bali with the rest of the world economy. i don't think that's going to work right away, but that's what they're doing. yeah, it'll certainly be interesting to see how that all shaves out professor jack ross, miss as always, thank you for your time and insight. my pleasure, ah, initiating a new fair war is unacceptable. that's the message from russia's foreign ministry. it comes in increasing alarm in the western media over what they fear is an atomic weapons threat posed by moscow with some reports, claiming that russia is preparing some sort of nuclear readiness tasks. amid the conflict and ukraine, comparisons to the cuban missile

the code. >> next, treasury secretary janet yellen participating in a forum on the u.s. economy. cecilia rouse also joining the conversation. . >> thank you for joining us, 2022 freedman's bank forum and now, please welcome u.s. treasury secretary of staff. >> good morning, everyone. you can feel the excitement in the air. thank you for joining us at the treasury. two months before the end of the civil war, senator charles sumner championed the bill to create freedman's savings bank. the objective of the bank was clear. a savings bank institution created for former slaves and their descendants. as frederick douglas, who later led the bank said, the mission of fieldman's bank is to show our people the -- of wealth and beg being of the world. president lincoln signed it into law a few weeks before his death. the bank grew quickly. opening in 38 branches across 16 states yet all of us know the legacy of fieldman's bank is one of tragedy. overwhelmed by the panic of 18 3 combined with mismanagement, a general loss of trust in the institution and a systemic failure to invest in former

eastern time on c-span, you can see the treasury secretary, janet yellen, talk about the u.s. economy during a news conference. coverage on c-span, c-span.org and the free c-span now video ap whent mes to election 2022, the wisconsigornor debate tonight bween tony evers and his republican challenger. that being hosted by the wisconsin broadcasters association. live coverage at 8:00 eastern. to eve, grand rapids, michigan, good morning. go ahead. caller: good morning, john. good morning to the c-span space. this is what i want to say. i cannot believe people are still saying they do not believe this about the insurrection when they watched it with their own eyes. i would like to say also the people complaining about people being dead and voting, don't they know that during the pandemic, people voted and then they died. your vote does not count because you died during the pandemic? host: one more caller this morning. rita in wisconsin, independent. are you going to watch the wisconsin governor's debate? caller: you betcha. i was so shocked yesterday about what was going on. the

the death sentence. treasury secretary janet yellen has cautioned stresses on the global economy and markets could disruptkets. yellen says the world faces a volatile environment and risks to financial stability could materialize. for now she says banks are well-capitalized with corporate balance sheets in good shape. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn, this is bloomberg. haidi: let's get you over to bell for a look at some of the movers. what are you watching? >> taking a look at how toshiba is coming online given we have more details of a buyout offer for the company that would take a private business from japan industrial partners. what we are hearing is it would be a group led by gip, -- jip, it would make toshiba asia's biggest buyout this year, so roughly 40% of the funding will come in cash, the other part from financing from banks. toshiba is trading 0.8% to the downside today but still the stock is up 17% this year. we understand jip is yet to confirm any equity commitments

in the next hour, a conversation with janet yellen and concerns about the market and the global economyng to do it here for me on "closing bell. send it into overtime with scott wapner >> all right thank you very much. welcome, everybody, to overtime. in a few minutes, you'll hear from janet yellen on the state of the u.s. economy and markets as recession fears kaes late around the world we begin with the talk of the tape today may as well be the tale of the tape concerning headlines out of the uk regarding the bond market mess there it only underscores the still growing risks in thi

the high stakes for democracy. and later, my exclusive interview with treasury secretary janet yellen. i asked her if inflation has peaked and if we are ready or at risk for a possible market meltdown like we saw in the uk. the 11th hour just getting underway on a busy monday. a busy monday. ♪♪ the only thing i regret about my life was hiring local talent. if i knew about upwork. i would have hired actually talented people from all over the world. instead of talentless people from all over my house. i've never been healthier. shingles doesn't care. from all over the world. but shingrix protects. proven over 90% effective, shingrix is a vaccine used to prevent shingles in adults 50 years and older. shingrix does not protect everyone and is not for those with severe allergic reactions to its ingredients or to a previous dose. an increased risk of guillain-barré syndrome was observed after getting shingrix. fainting can also happen. the most common side effects are pain, redness and swelling at the injection site, muscle pain, tiredness, headache, shivering, fever, and upset stomach. ask y

he spoke directly to leaders of the world bank and international monetary fund as well as treasury secretary janet yellen. >> hi, everybody, welcome. thank you for joining. we are expecting president zelenskyy in a moment but i want to thank you for joining us at the world bank headquarters in washington, d.c. after eight months of war, the ukrainian people and their leaders remain determined and resilient. i am horrified by russia's actions, the loss of lives and livelihoods and the economic turmoil the war has unleashed. ukraine's needs for recovery are massive and we been discussing that to day. we work closely is an international group to prepare for the reconstruction efforts. i want to turn to my close colleagues. >> i have the privilege to give the award to president zelenskyy who is already with us. we are all ears and look forward to hearing from you. pres. zelenskyy: thank you very much. kristalina thank you for this opportunity and mr. malpass, i am very pleased to see you ladies and gentlemen. dear friends, we are thankful for your attention to ukraine. in these days, and country became a tar

the pound to historic lows. u.s. treasury secretary janet yellen bank and regional development bank to movie beyond country-specific loans. the changes seek to address global threats and speak at the flow of private capital to emerging economies per janet yellen endorsed the notion that multilateral development banks can increase lending without increasing the potential risk. the u.s. has sanctioned seven iranian officials indicate uses of leading a crackdown on protest. the group includes the interior and communications ministers. the protests began last month over a death in police custody of a 22-year-old woman arrested for allegedly flocking islamic dress codes. the moves reflect a push by the biden administration to more forcefully support the protesters. president biden's bargaining thousands of americans convicted of possession of marijuana and ordering a review of its legal status. in a major step towards decriminalization of the plant, he issued a blanket pardon for all prior federal charges of simple possession and will urge governors to

yesterday cnn's phil mattingly sat down with the treasury secretary, janet yellen, who said this. >> this point. >> seeing the third quarter gdp report, john, is she right? >> she's right in the sense there's nothing in the report itself that screams of a recession, but i do think if you start looking underneath the hood a little bit, particularly at where that growth has come from in the third quarter, largely from exports. i do see many signs that the global economy is weakening. if you look at china, if you look at asia. the sentiment weighed down across all of the markets. i think it will ultimately have some negative spillover effects on be the u.s. economy. >> i think the scorecard, i'm paraphrasing phil mattingly, the scorecard they're trying to give is all correct but it doesn't match the mood of the electorate. the mood is very inflation focused. people don't feel great about the economy. >> that's exactly right. consumer sentiment here. we're in consult. the other thing to note is inflation expectations also remain elevated so folks continue to expect high levels of inflatio

have to assume that some of the president's economic advisers will have to shoulder some of the blame. janet yellenest of the administration, was keen to say a year ago i interviewed her, and she said inflation is transitory. it's only going to be short term. nope. it wasn't. she might have to pay for that. >> stephanie ruhle, we'll be watching "the 11th hour" weeknights on msnbc for more. shout-outs to new jersey grocery stores. >> you know it. >> mika? >> got to like that. jersey. >> yeah. >> we've showed you this morning act every poll in every senate race there is and also they're in the margin of error. unaffiliated voters, a voting bloc our next guest says is on the rise and is side of divisive politics. senior reporter and producer covering congress for "the washington post," rhonda coe vin. thanks for being here. there's a highlighted part that i find fascinating. i'd seen these numbers move up in states like connecticut a couple years ago, but i can't believe it's nationwide, that a january gallup poll found unaffiliated voters make up 42% of americans well ahead of 29% who say they're dem

the u.s. department treasury, janet yellen. ♪ >> good morning everyone in the room and everyone who is watchingirtually. thank you for hosting this event. before we dive in, would you like to say a few opening words? >> thank you so much. let me begin by welcoming everybody to the treasury today to the freedman spec form. i would look to start with a few words about why we are gathered here and the reason is to carry forward the aspirations of the savings bank. short they will go over the full history of the bank, but the bank was originally established by president lincoln to help newly emancipated people build wealth. insufficient resources and lack of support led to the failure of the bank that caused more than 60,000 black americans to lose their savings. i think the failure of the friedman's bank is illustrative of the difficult truth surrounding race in our nations history from reconstruction to jim crow with the inequities that continue to persist today. our economy is failed to live up to the nation's promise of equal opportunity for all. we know that we need to do all we can to build a

the cares -- kamala harris. ♪ >> good afternoon. please have a seat. our incredible secretary, janet yellenthank you for welcoming and hosting us and thank you for your partnership. i think many of you here have to worked with our secretary over the years and you know she is an extraordinary fighter. she is an extraordinary partner as we work on the issues ensuring that all people in our nation have the ability and capacity to realize their dreams and their access to capital will not be a barrier. thank you and everyone here, thank you for joining us this afternoon. i will begin with some history. there are many who are not familiar with the history of freedman's bank. freedman's savings bank was founded by the united states congress in 1816 five -- 1865. freedman's bank was established to serve black americans newly freed from slavery, to help them build wealth, and to build a better future. at freedman's to open to savings account -- to open a savings account, you need a five cents -- you needed five cents. tens of thousands of black families have opened a accounts at friedman -- friedman

the pathways you were describing in your comments. i want to turn now -- we have schmail -- we have prime minister schmail and janet yellen and the u.s. has been a strong supporter and we had been able to disperse $8.5 billion of u.s. money plus other nations to reach the immediate needs of ukraine during this crisis. we have had discussions already this morning on additional steps that can be taken over the coming weeks and months. let me turn to krista lena and others and prime minister schmail. >> prime minister, are you on the line? did we --? president zelenskyy, >> here he is. >> good to see you, welcome . >> prime minister, go ahead. >> to ladies and gentlemen, russia carries out [indiscernible] as president zelenskyy said, hundreds of rockets damaged infrastructure and children's playgrounds and public transport. -- ministers lady is -- ladies and gentlemen --[indiscernible] as president zelenskyy and -- drones have damaged infrastructure and children playgrounds and public transport stops. 134 wounded 90 killed. the purpose of this is the desire to put ukraine on -- in this regard our response must be fast in this decision. m

the fed kicking off a two-day policy meeting tomorrow. ahead of that meeting, janet yellent seeing signs of recession in the economy. economists expect interest rates to peak at 5% in march our next guest is out with a new book about yellen's legacy joining us now is an old friend, "wall street journal" senior writer good morning to you, john. congratulations on the book. >> thank you so much it's great to be back here with you. >> it's a great read and quite insightful about the way she thinks and everything that's happened with her. take us inside the thinking of treasury right now but also inside the fed, your old beat in life, in terms of the way they're thinking about all of this and whether you think she's going to be proven right or wrong ultimately >> well, so in terms of the thinking, the way i frame it is, we've been through three shocks in this economy, the first one was covid, the second one was washington's response to covid and all the money that it poured into the financial system and economy, the third shock we're going through right now is pulling back all

and part of the reason for that is the war in ukraine, no. janet yellen, who is the us treasury secretary, essentially the finance minister. she has been speaking here in washington, and she said it was important that the international community wants together to make sure that russia continues to suffer for the war in ukraine. one thing we want to be clear about is that russia should not profit from having and started this atrocious war in ukraine, and shouldn't be beneficial from profits it result from and those, those atrocities the i m f is insisting that the priority should be helping those who can least afford to help themselves. the poorest and community is just a couple of days since the head of the i m f said that inflation was essentially attacks on the poorest parts of every single community. but the reality is, this isn't going to get better any time soon. the i m f long term forecast is that growth will be down and inflation will be high. continuing into 2023 before it starts to death. and for that, many things have to break their way. there hasn't to be any more climate emer

vonnie: janet yellen has proposed changes for the world bank to move beyond country have specific loanschanges seek to address global threats and speed up private capital to emerging economies. janet yellen and washed the notion that development banks can increase lending without significantly increase their risk. the latest you see the minutes sure some officials wanted a50-basis point hike in september. decision-makers ultimately agreed to a 75-basis point hike. momentum is building for a repeat of the september hike. the central bank is fighting inflation nearing 10% in the bloc, while risking a looming downturn. president biden is pardoning thousands of americans convicted for possession of marijuana, and ordering a review of its legal status, in a major step towards decriminalizing the plant. he has issued a blanket pardon for all prior federal charges of simple possession. he also urged governors to do the same for state offenses. the biggest etf investing in u.s. cannabis companies surged 34% in one hour on the news. the thai prime minister will visit the scene of the country's w

i think the fed is completely aware of that. janet yellens turning tables that is political talk there wanting to see maybe the next rate hike be 50 basis points instead of 75 because she would like to see the market rally going into the election, the midterms. i don't think that is going to happen. i think this week is incredibly important in terms of earnings. i don't think the fed has a chance in heck of getting inflation down to 2% in the next couple of years let alone in a year. they would be lucky to get it to 2% in five years. whatever they do, whatever the terminal rate for fed funds is, they will keep it there for a long time. charles: but could the markets learn to live with that? i mean this, i'm not sure where the 2% number came in from. for years they were much below that, sort of bemoaned the fact they couldn't get there. now we're above it. cot markets themselves, could we get get a rally under those circumstances or two years for the stork market or years for the stock market in a decided trading range? >> we're in a position

multiply that by millions of people across the country. janet yellen 50 years. household balance sheets remain strong. signals are consistent with an economy shifting from a fast recovery to stable and sustained growth. austan, can you back that up? >> that's what we want. it's worth remembering this absolutely a worldwide phenomenon. the u.s. economy is looking stronger than anywhere else in the world and the dollar is aappreciating, not going down. i think the return of the growth rate and the strength in the labor market are absolutely the brightest spots and the rise of inflation and continued inflation, though it is coming down. it was encouraging news but the high inflation is the worst part of the economy. i don't think there is anything wrong with pushing for and seeing the evidence of that return to stability but we'll have to see what happens from the fed. >> look, we're in a lot of trouble right now. the debt is higher than it's ever been before. you've seen about a trillion dollar addition to the national debt in the last 24 months. i'm wor

the first time today. what does president biden's treasury secretary think about inflation? is it peaked? is it coming? is a recession here? janet yellen'snet yellen's answers in a second ick n fluffy french toast. artisan challah dipped in vanilla cinnamon batter. french toast the way it's meant to be. try all three flavors. only at ihop. download the app and earn free food with every purchase. woman tc: my a1c stayed here, it needed to be here. doctor tc: ruby's a1c is down with rybelsus®. only at ihop. man tc: my a1c wasn't at goal, now i'm down with rybelsus®. son tc: mom's a1c is down with rybelsus®. song: a1c down with rybelsus® anncr vo: in a clinical study, once-daily rybelsus® significantly lowered a1c better than the leading branded pill. anncr vo: rybelsus® isn't for people with type 1 diabetes. anncr vo: don't take rybelsus® if you or your family ever had medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2, or if allergic to it. anncr vo: stop rybelsus® and get medical help right away if you get a lump or swelling in your neck, severe stomach pain, or an allergic reaction. anncr vo: serious side eff

experts say the recession -- jon: janet yellen as i mentioned right about in the book used to be head of the federal reserve and right now the federal reserve has a big problem on its hands. they raised interest rates aggressively to try to get inflation under control and now the the risk that they've raised interest rates so much that they are going to run us into a recession. really the big issue for the next few months is whether the inflation numbers come down. if they do, then that social security benefit increase that you mentioned really helps american households if the -- if the inflation doesn't come down, then it's just making up for loss ground those social security benefits. eric: in terms of inflation, do you think it will start coming down. they say it will take a year or so. what are we going to see? jon: we were starting to see progress this summer particularly at the bump and as you mentioned that progress has reversed itself in the last few weeks. pretty astonishing that the biden administration, president biden went to saudi arabia seemingly asking for help and then

they definitely don't see abortion as janet yellen recently claimed as the answer to our national economicblem. she said that. so here's how it works. janet yellen gets rich giving speeches to the companies she regulates. that's corruption, but never charged. she's still free. in fact, she's the treasury secretary. you get poorer. the solution, more abortions. that's the message they're selling. and maybe not surprisingly it doesn't work. that's not what voters want. so what do voters want? what do they tear about? if you look at the polls, they care about the quality of their own lives. so they care about the economy and they care about crime. this is very obvious. you don't need to look at polling to know it, but every poll shows it with maximum clarity. how does the media respond to this? well, of course, doing their job. they've done everything possible to minimize both issues. the economy and crime. they've told us the economy is not in a recession. no, it's not. when, of course, by every measure it is very much in a recession. and on crime, they've told you don't even talk about it.

the administration has screwed up so many things economically, we've seen the talk about janet yellen, out of the administration post election, a switchover to when republicans take congress we start this relationship and getting the economy back on its feet, letting the economy function because it wants to function, and difficulty and buying things. there's demand out there, and those supply chains. neil: what will change your mind? >> the long-term starts in the short term, some stocks some indication of a bull market. at this point the only stocks doing well are commodity related stocks like oil or major oil producers. look at inflation, it started in washington. it has to end in washington. the market players are looking for indication the policies in washington will bring inflation under control. this week biden's proclamation, the gig economy sending them down, costs higher and pushing inflation, making it more expensive to do business and invest, not less expensive. neil: it is not darkest before the don. >> i don't think it is dark enough yet. >> might be 3 am versus 5:00 pm,

the high stakes for democracy. and later, my exclusive interview with treasury secretary janet yellen. i asked her if inflation has peaked and if we are ready or at risk for a possible market meltdown like we saw in the uk. the 11th hour just getting underway on a busy monday. i hit a patch in my life where we lost our home, we lost our clothes, and we had to live in hotel rooms because i didn't have that credit. i picked up the phone and i called them. creditrepair.com, it was, "hey, we can come together. this is what we're going to do," kind of thing. i can't thank credit repair enough because they have allowed me to begin again. bad credit doesn't have to be forever. get help from creditrepair.com. i'm jonathan lawson here to tell you about life insurance through the colonial penn program. if you're age 50 to 85, and looking to buy life insurance on a fixed budget, remember the three ps. what are the three ps? the three ps of life insurance on a fixed budget are price, price, and price. a price you can afford, a price that can't increase, and a price that fits your budget. i'm 54, wh

that is live from the quincy institute at new. that 1:30 janet yellen talks about the u.s. economic outlook at the international monetary fund in washington, d.c. then liz cheney talks about the constitution and defending democracy at the university of notre dame. you can also watch live coverage of the free c-span now video app or online at c-span.org. >> c-span's campaign 2022 coverage of the midterm elections continues with candidates debat fm around the countrynning live tonight at 8:00. incumbent democratic governor tony e verse debates challenr tim michael's. then at 9:00 peter welch and republican jedalloy debate for the open senate seat in vermont. dope miss a single election moment on c-span. c-span now is a free mobile video app. visit c-span.org/campaign2022, your website for all of our election coverage on demand. c-span, your unfiltered view of politics. >> we take you live to the u.s. capital, where the house is said to gavel in for what we believe will be a brief session this morning. no votes have been scheduled today. live coverage of the u.s. house on c-sp

equity at an event hosted -- >> everyone, please welcome the united states secretary of the treasury, janet yellen. [applause] janet yellen: thank you very much, everyone, for joining us today. since last january, the biden harris administration has made racial equity a centerpiece of our economic agenda. advancing racial equity is not just a moral priority, it is vital to our economic success. led by president biden and vice president harris, our efforts began with economic recovery. we know that communities of color were hit hardest by the pandemic. in reaching and supporting these communities is the core priority in our implementation of the american rescue plan. data indicates pandemic recovery has been historically equitable with record drops in the unemployment rate for many communities of color. but that is not enough to help families simply recover. nger and more inclusive post-pandemic economy. investing in disadvantaged communities has far-reaching effects beyond the communities themselves. it can offer high returns on investments in used economic return. the trifecta of legislation enac

. >>> to the fallout over the opec cut decision treasury secretary janet yellen criticizing the move it unhelpful and unwise for the global economy it is uncertain the impact the 2 million barrel per day cut will have, but it did not seem appropriate with the economic conditions we are seeing around the world. opec is facing backlash over the decision to cut that production with the wti and brent prices both back above $90 a barrel brian sullivan is joining us now with more on this price dynamic and story and his conversation with the energy minister amid opec's decision. brian. >> dom, good morning thank you very much. given all the headlines and all of the chaos that the decision has generated in the united states, we felt it was important for the global audience to hear from the source. that is energy minister abdulaziz bin salman he does not give very many interviews he did sit down with us at the opec meeting in vienna we met at 8:00 p.m. local time that was well after the decision had been made and blowback begun. i began by asking a simple question how would he explain to our

if the gop takes control of congress. treasury secretary janet yellen is among democrats who back the debt limit's permanent remail. tobias first room -- so the government had taken many steps for turkeys requirements to join nato. say "it is our hope that turkey will recognize this". turkeys president says he is willing to meet to discuss the country's. still, he was to address security concerns more. one of china's top chip designers has already navigated through u.s. export restrictions. this manufacturing company will produce advanced silicon. u.s. security measures were aimed at limiting china's development but -- believes it's trips are not covered by the sanctions, according to people with direct knowledge of the matter. the impact of the covid-19 outbreak will have long-lasting impact on rural thailand according to an report from the world bank. poverty decreased from 50% to 6.8% but is now increasing since 2020. this comes amid the covid crisis which is paying -- playing a factor in a rural income diagnostic analysis. global news, 24 hours a da

treasury secretary janet yellen says inflation has stopped around the world and economic growth is slowingdiscussed the nation's economy and the global economic outlook. capping the price of russian go -- oil and providing additional funding to ukraine and lower income countries.

though we are in qt mode, meaning we're tightening, we're not buying back from the fed isn't buying anymore, but janet yellen, the treasury secretary just floated a news story today that she's thinking about instituting treasury buybacks, because the long end has liquidity issues and will have to stay on top of that story and some weird, perverse way, it kind of reminds me about the travails of the bank of dpengla, a week ago back to you. >> some of this stuff, you can't make up. i don't know what else to say about it do this, do that, it's bizarre, let's hope it's not the bank of england here we're a lot bigger than the bank of england rick santelli, thank you very much 24% to dealers that is not good >>> meantime, consumer confidence not great, either, taking a hit in october. inflation picking up again, particularly in food and gasoline prices. but if you're watching if california, i don't need to tell you that the conference boards, consumer confidence index fell to 102.5 that is more than expected, and back to the lowest level since july in the meantime, the expectations index slid again, suggesting tha

the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] >> here's what's coming up live this afternoon on c-span. at 1:30 p.m. eastern, treasury secretary janet yellen will hold a press conference of the annual international monetary fund and world bank meetings being held in washington, d.c. at 230 p.m., liz cheney, vice chair of the january 6 committee talks about the constitution and defending democracy. she will speak at the university of notre dame and you can watch live coverage on the free c-span now video app or online at www.c-span.org. >> c-span's campaign 2022 coverage of the midterm elections continues with candidate debates ound the country. beginning live tonight at eight p.m. eastern, from wisconsin, the incumbent democratic governor will face his alnger. at 9 p.m., the democratic congressman peter welch and republican gerald malloy debate for the open senate seat in vermont and it 10:00 p.m., incumbent colorado governor faces his republican challenger. don't miss a single election moment on c-span and take it -- and take us with you on the go with c-span now and be sure to visit www.c-span.org/campaign 2022, your website for all our

vet investments that don't ride the stock market rollercoaster. - [narrator] yieldstreet: private market investing. >>> we have a big overtime secretary yellin, janet yellenretary, a cnbc exclusive, 4:00 eastern time looking forward to that. victoria green, adam parker, the rest of the crew there stephanie link, let's do final trades >> home depot. i haven't recommended a housing stock in a very long time. it's down 29%. trades at 17 times earning, 2.6% yield. i think they can have sustainable mid-single-digit comps going forward. i like that one. >> even with housing >> it's down a lot a lot of bad news. >> josh brown? >> i would say berkshire hathaway this is a stock that should hold up regardless of what goes on. >> all right.adobe this has a stock, its end market is an industry start, in an acquisition of fig ma. we think you can look back at the history of management's acquisitions, they've done a great job of making great ones that have increased the total adjustable market for the company. so we think it's worth a look here >> farmer jim? >> alaska airlines the stronge est balance sheet in the sector we see what's going on with news from american a

recentitand they definitely done abortion as janet yellens the ar to our national economic recently claimed, as the answer. to our national economic problems. she said so her that. >> so here's how it works.speect janet yellen gets rich giving speeches to the companies she regulates. that's corruption. int she's never chargethat's cd she's still free.he in fact, she's the treasury secretary. and you yocretary.u get poorer. but we have a solution. you seem to have more abortions .sellin that's what she said.g. that's the message they're selling. tand maybe not surprisingly, it doesn't work. that's not what voters want.so w has wantso what do voters want? what do they care about? well, if you, they look at the i they care about exactly whatso e you'd expect them to carey e about, which is the quality ofch their own lives. soey car they care about the ecy and they care about crime. this is veryth o obvious. y you don't even need to look atti polling to know it.th but every poll showsimum ito with maximum clarity. o how does the media respond to t us ?they've done >> well, of course, doing thei

the janet yellen is essentially saying that the action that the g 7, the european union, the united states and its allies and taken a certainly we can russia's financial position and. 7 it would be reflected in the reports that we're getting from the i m f. we say this is the stock of the war. not only is europe seeing a dropping growth, an increased inflation, but it's heading places like russia particularly hot. it's ukraine even harder with their g d p down 30 percent, but you, russia is down by 10 percent as well. and there's a warning that things are going to be pretty bad in europe over this winter because of the cost of fuel. not only is it going to be difficult to get the i am if a warning that it could be ration, then that aware that this is impacting the poorest and all the communities, not just in europe, but around the world. they're saying that in europe, for example, the cost of living has gone up by about 7 percent. that that doesn't sound a great deal. but if you normally spend about a $100.00 a week on your shopping to buy food and united spending a $107.00 and you don't a

if the gop takes control of congress. treasury secretary janet yellenong democrats who back the debt limit's permanent remail. tobias first room --

and i think it's important for the united states, i believe we are on a fiscally sustainable path. >> i mean -- go ahead. >> janet yellenn a difficult spot. here's why. the biden administration has done a lot to address the economy. from infrastructure spending to the inflation reduction act to just last week, you can now buy hearing aids over the counter. huge positives. but most of what they have done are going to take time for the american people to see. and you know this as well as i do. we live in a world of short tempism, and people are saying my life costs more money. i don't remember how bad it was two years ago or ten years ago even though it was terrible in the financial crisis, horrible two years ago and they're saying i don't particularly like the person in office. the question to voters and what democrats need to push in these last few days is what are you going to get on the other side? i mean, they can't make a bumper sticker that says it could have been worse, but that's what they need to do. >> i mean, the thing about it is biden has presided over, sinking unemployment rate from 6.4 to 3.5%. we're at to

took office every month since the first time president called inflation top priority may 10, 6 months later he still asking for time to bring down prices. today janet yelleneated the request and refused to take my question back yesterday's cpi report shows we have more work to do to get price increases under control. leading indicators show hopeful signs, working families continue to feel the pain of high inflation. >> can i follow up on inflation? >> they had the room for ten more minutes, she just walked away and did not want the follow-up question about inflation from me. elizabeth: a terrific stuff, thank you that's welcome to the show author karol roth and hill media columnist joe concha, i know it's a fiery panel. instant messaging on inflation, started taking off last year. the white house said it was transitory, even zero. the left americans no time to repair bill the question if they believe them. >> i know exactly what you mean, i've been following the whole litany. first they said they would be no inflation and then it would be transitory. then it was the consumer's fault and then business greedy and it was good for you that was putin's fault a

the white house has asked secretary janet yellen to make the case personally to some of her gulf statenterparts. the white house is having a spasm and panicking. another u.s. official said, quote, it's important that everyone is aware of just how high the stakes are. for president biden a dramatic cut in oil production could not come at a worse time. the administration has for months engaged in intensive diplomatic and foreign policy efforts to mitigate soaring energy prices in the wake of russia's invasion of ukraine. that work did appear to pay off with u.s. gas prices falling for almost 100 days in a row. but with just a month to go before the critical mid-term elections, u.s. gas prices have begun to creep up again proposing a critical risk the u.s. is trying to avoid. >>> an advance for ukrainian forces is spelling significant losses on the battlefield. zelenskyy says his troops are advancing further towards kherson. this as ukrainian forces raise the nation's flag over more liberated towns and one official says troops are breaking through russian forces in the kherson region. ukr

the british people. >> treasury secretary janet yellen cautioning that stresses in the global economy and markets could the u.s. financial system. she says the world faces a dangerous and volatile environment and risks to financial stability could materialize. for now she says banks are well-capitalized with corporate balance sheets in good shape. a court in iran has issued guilty verdicts for 315 people that took part in antigovernment rallies. state media says four people have been charged with belligerence. it is a crime that can carry the death sentence. the vietnamese central bank hiking to support the weakening currency. this comes after this date bank of vietnam widened the trading band. officials planning to intervene in the fx market and do so to meet banks' dollar demand. that is a look at the first word headlines. david: just ahead, a smaller deficit is what we are expecting when we got the details out of the physical plan from australia. treasury is expected to sound cautious notes. a preview is coming up in a couple of minutes. this is bloomberg. ♪ rishaad: an asian market snapshot. closin

the manipulation as well. u.s. treasury secretary janet yellen is proposing changes for the world bank. the changes seek to address global threats to speed up the flow of emerging economies. yellen has endorsed a multilateral banks could increase their lending without significantly increasing risks. global news 24 hours a day on air and on bloomberg quicktake, powered by 2700 journalists and analysts in more than 120 countries around the world. i am vonnie quinn. this is bloomberg. haidi: still ahead, we're counting down to the u.s. jobs report. any signs that the labor market is finally cooling-off. are chief economist will be joining us later -- our chief economist will be joining us later. we will talk about pharmaceutical and medical firms. mariann montagne joins us in just a moment. this is bloomberg. ♪ >> we are in this high inflation environment and being able to forecast in real-time the turning point, where waiting for inflation to peak and come back down. that is going to be critical for policymaking. >> we look, according to our reports, headed for 4.5 to 4.575% next year, giv

fund as russia continues it strikes a trust ukraine and we will hear from the world bank president and treasury secretary janet yellenh live coverage of 145 p.m. eastern, c-span now or online at www.c-span.org >> this afternoon, national security advisor jake sullivan will discuss u.s. security challenges hosted by the center for new american security and georgetown university. what's live on c-span, c-span now or online at www.c-span.org. >> c-span is your unfiltered view of ever been. we are funded by these television companies and more including media,. >> the world changed in instrument but media, was ready, internet traffic soared and we never slowed down stuff schools and businesses went virtual and we powered a new reality because we are built to keep you ahead. >> media, support c-span is a public service along with these her television providers, giving you a front row seat to democracy. continues. host: scott macfarlane

they reached out to the treasury secretary janet yellen, asking her to reach out to counterparts aroundwe actually got talking points that the white house sent to treasury that have very blunt language suggesting yellen say some of this to her counterparts. they say this would be a total disaster, would be seen as a hostile act against the united states. this is very blunt language. these were draft talking points and not used. it gives insight into how nervous they are. >> matt egan, this comes as gas prices have been inching back up. if oil production is cut, how high could prices go do you think? >> that depends how keep they are from opec and how long they lost. but we have already seen hopes for a caress cue from opec lift by $7 a barrel. if opec goes forward and cuts supply, we could see oil prices go up by $13, $20 higher. this does mean higher prices for kurpl. gas prices are still down by a dollar down nationally from the records set in june. the national average is up 14 cents in the last few weeks. some on the left are already calling on the white house to retaliate if they c

the economy. meanwhile, treasury secretary janet yellen agreed with the president, saying yesterday the economy is doing very well. joining us now on set, co-anchor of cnbc's squawkbox, our buddy, andrew ross sorkin. so, andrew, what is a slight recession? how does wall street hear that? >> this is a little bit of semantics. some people would argue, we're already into a recession already. it's really about what a hard landing or a soft landing looks like. there's nobody on wall street today and maybe the conventional wisdom will prove to be. but there's a view that six to nine months, we talked about what jamie dimon said, that it's going to get tougher. the hard part for so many of the businesses that are out there is today, the businesses look fine. they look and they go, it doesn't look terrible today, but they think that it's going to get worse letter. pepsico came out with its numbers today and was able to pass on a lot of those costs to consumers. so, what does a slight recession look like? something that doesn't last too long and doesn't feel much worse than where we are right now. >> john,

we see more coordinated efforts, other countries join in, it will be hard to stop the surging dollar, and janet yellenerview last week. by the way, the dollar just turned higher on the session, perhaps one reason, stocks are heading south. up next, tesla shares are tumbling an analyst who just cut his estimate will join us, that story, plus at&t's big rally, a bullish call on athleisure, when we talk you inside the "market zone" next. at cdw, we get that your world is always changing and you need to adapt to support your digital transformation. we can help you achieve your business goals by streamlining your data across cloud environments with netapp cloud services orchestrated by cdw. with greater accessibility and control, you'll be able to accelerate innovation, bring the flexibility of the cloud to your environment, and reduce your infrastructure footprint to contain costs so you can be prepared for whatever is headed your way. ♪♪ ♪♪ ♪♪ be ready for any market with a liquid etf. get in and out with dia. ♪ >>> we are now in the "closing bell" market zone. mike santoli here to break down the crucial

[laughter] lauren: it also points to the stature of the administration, because cnn is reporting that janet yellenked to the opec nations, we really need you noted to do this, and they didn't listen. what sway do we have on the world stage right now? stuart: we look weak. please stay there there, jason. you have the duty to stay with me -- >> very good. stuart: check futures please, dow down about 100 points. adam johnson's here with us. adam, bank of america analysts are saying that the rally at the beginning of this week is a signal, a bullish signal for the markets. does that mean -- are you seeing a change in tone? >> well, you know, i can appreciate what the bank of america analysts are doing. they're looking at the short-term data and saying 90% of the stocks in the market were up for two days in a row. that doesn't happen off, and when it does, it's generally the signal of a turn. i appreciate they have pointed that out to all of us. but actually, i would point to what's happening in the real economy where we just learned overnight that here in north america businesses, not just a single bu

the u.s. is he wrong? >> i think he's wrong. i don't think we're about to lose control of inflation. >> but treasury secretary janet yellen was the one who was wrong. how do i know she was wrong? she said so to wolf blitzer. >> was it a mistake, madam secretary, to down play this inflation risk? did that contribute to the problems we're all seeing right now? >> well, look, i think i was wrong then about the path that inflation would take. >> the basic idea, people were being given money but there were not enough goods for various reasons, including factory shutdown abroad. and that made the prices of those goods go up, hence inflation. and we have been here before. take a trip with me back to the future. the year is 1974, the year that nixon resigned. the number one song was barbra streisand's "the way we were." ♪ ♪ like the corners of my mind ♪ >> the way we were was that inflation was at more than 12%. president gerald ford tried to come up with a campaign, win. a way to inspire americans to spend less and conserve energy. it didn't work. it was mocked as one of the biggest public government relations blunders ever. ford lost a

the quincy institute at noon. then treasury secretary janet yellen talks about the u.s.nomic outlook at the monetary fund in washington, d.c.. liz cheney talks about the constitution and defending democracy at the university of notre dame. you can also watch live coverage on the free c-span now video app or online at c-span.org. >> c-span's campaign 2022 coverage of the midterm elections continues with candidate debates from around the countries, beginning live toni 8:00. from wisconsin, incumbent democratic govnotony e verse dete republican challenger. then peter welch and jerry malloy vote for the open seat in vermont. then at 10:00 incumbent colorado governor faces his republican challenger. don't miss a single election moment on c-span and take us with you on the go with c-span now, free mobile video app. also visit c-span.org/campaign 2022, your website for all of our midterm election coverage on demand. c-span, your unfiltered view of politics. >> american history tv, saturdays on c-span2. exploring the people and events that tell the american story. on the preside

middle incomes, and as biden is delivering that message, people are across the country including treasury secretary janet yellen who will be speaking about the economy in ohio, another state that democrats are closely watching as we head into the midterms. >> with just 12 days from these elections, we're going to see trump and obama on the campaign trail. >> that's right. we will see both of them, president obama getting ready to campaign in states like michigan and georgia, and we expect that to continue as democrats really try to use -- and frankly republicans too with donald trump. their best tools to get people out to the vote in the final days. that is also a role that president biden feels that he can play in the final days of the race which is why we expect to see president biden most likely returning to pennsylvania, campaigning with charlie crist in florida in the coming days. we're also told that there is a joint appearance in the works for former president obama and current president joe biden to help rally for those pennsylvania democrats in the final days. jose? >> josh lederman, shaq brewster and