that's start with janet yellen downing washington, d.c.hat are you looking for a little bit later -- janet yellen down in washington, d.c. what are you looking for a little later? evan: i think we are going to see her endorsing 1.9 trillion dollars, and given we have already seen the text of her speech, going big, janet yellen very much endorses what jay powell has done in terms of trying to engineer and inflation overshoot. there's going to be a very healthy relationship between those two individuals. we really need that if the fed is going to achieve its goals of higher inflation and much stronger employment, so expect her to be doubling down on what biden said last week with the large fiscal number. tom: fold in equity dynamics into your asset-management management choice right now. it is -- is it the dynamics of sustained growth margins, or the surprise revenue growth? evan: i think it is outright earnings growth and operating leverage. we saw the multiple expansion last year. now it is time to deliver and give guidance about a really

senator grassley asking a question to janet yellen. she is appearing virtually, as we know. let's take a listen. ms. yellen: -- the federal reserve bank of san francisco in 2004. >> all numbers, democrats and republicans, throughout the session. i think it is very appropriate that we begin with the consideration of a person who is so export nearly qualified and who i very much appreciate being willing to return to public service, -- >> -- as well as a distant ghost fellow at the brookings institution. some have joked that janet's husband of 42 years, george, won the nobel prize in economic sciences, yet he is regarded by many as the second most accomplished economist in his own home. but it can be said that all of these accomplishments did not come easily for a woman in a male-dominated field of economics. out of 24 students who received doctorates in economics at yale in 1970 one, janet was the only woman, and she has been a trail blazer her entire career. now she brings to us the experience and leadership needed at treasury at this critical juncture. i believe that janet ye

today, treasury secretary nominee janet yellen at her confirmation hearing. dr. en: over the next be months, we will need more aid. neither the president-elect nor i recommend this relief package without an appreciation for the country's debt version. right now, with interest rates at historic lows, the smartest thing we can do is act big. in the long run, i believe the benefits will far outweigh the costs. vonnie: joining us now is andy laperriere, head of u.s. policy at cornerstone macro. a number being thrown out there is $1.9 trillion. how close will democrats get to that? andy: i think it will have to get cut back pretty significantly. my guess is maybe around half of that. not clear whether they can pass something with bipartisan support, 60 votes in the senate, which means you need 10 republicans to go along with it, or move through reconciliation, do it on a partyline vote. either way, whether it is democratic votes through reconciliation or republican votes, i think the price tag will have to come down quite a bit in order to get the votes either way. ama

coming up, it's a big day for janet yellen.iden's treasury peck has her senate confirmation hearing and will have to sell his blockbuster stimulus package. we have the story next. this is bloomberg. ♪ ♪ francine: economics, finance, politics. this is "bloomberg surveillance." i'm francine lacqua here in london. the biden administration begins tomorrow, but janet yellen's work starts today. her confirmation before the senate finance committee begins today and so does her sales pitch for biden's nearly $2 trillion stimulus plan. let's get more from mark cudmore. great to have you on a really important date like today. what will you be watching out for later? >> i think probably the most important thing to watch out for is the tone and type of questions that we get from some of these senators, in terms of the republican side. we know pretty much exactly what yellen will say. we know what her beliefs are. she has spent a lot of time in the public eye. she is focused on inequality, the labor market, is quite dovish. we know her view

janet yellen said in her confirmation hearing, now is really the time to spend.nterest rates are low. i think it is an opening bid. i think there are things in the bill that senators or house leaders would prefer they go bigger on. i think the two-step approach in tandem will be more expensive than $1.9 trillion. i will note that we have a very detailed plan from the president, but his administration will have to work with the senate to come up with bill text. romaine: a lot of focus is on the stimulus part of this. yellen talked about the scarring to the economy. there is an element about, how do you make a whole what we lost in the pandemic, getting all those people who lost their jobs back employed, fully employed and up to speed with regards to their former wages. >> notably, the focus is on two things. i think that the second half will focus on bringing back jobs. the economic policy institute estimates that extending on employment insurance, which the plan does, through the end of the year. epi suggests that extending those programs will save or create 5 mi

as economist janet yellen or former fed chair janet yellen so she understands very well labor marketnomist by training, and so when you look at the labor market and the fact that we have so many that are classified as long-term unemployed and the fact that the probability rises so sharply for them just leaving the labor market all together, if you don't quicken the economy at a pace of growth as much as possible to bring them into the labor market then you do have much longer term problems down the line, and so janet yellen the economist is approaching this in that classic way i do agree that we need to have much more robust unemployment benefit programs i do agree that state and local governments need a lot of aid here, and so we think that something closer to a trillion dollars will ultimately get passed, and that more is needed here i don't expect something as large as the full 1.9 trillion think of that as the opening bid. >> so ellen, let's talk about this notion that if nothing is done now, or if the size of the package is not big enough, then worse things happen down the line

if not the a's are $84.00 the nays are 15 and the senate confirmed janet yellen as new treasury secretary with an overwhelming majority of $84.00 to $15.00 yellen no stranger to the world of finance lead the world's biggest central bank from 2014 to 2018. of course janet yellen is best known for her chair chair for her tenure as chair of the federal reserve overseeing a period of falling unemployment and steady economic recovery from the global financial crisis few people possess the experience and expertise that miss yellen would bring to the treasury particularly during this moment of economic crisis. the 74 year old says she hopes to revive the economy with a massive covert 19 relief package she urged lawmakers to act big given historically low interest rates in spite of soaring federal debt the administration's 1.9 trillion dollars economic relief bill includes another round of direct stimulus payments to individuals and small business is also planned our long term investments in infrastructure. well let's talk a bit more about this with our financial correspondent ashutosh condé he j

haslinda: investors await comments from janet yellen.e investors this year waiting for the comments. will some taxes be raised? a lot of questions. remember that president moon jae-in is talking about limiting housing. up by 2.5%. rishaad: let's go to the opening in bangkok. they're up .9%. we are reversing some of that. there we go. the nifty looks like it might be erasing some of the losses. move into the weaker side there. 73 rupees, 28 peso for a dollar. haslinda: to our top story. president trump's final day in office. this is ahead of the inauguration of joe biden. this will be the first living your president in more than a century to skip the regular exchange of power. that's get more on this from ruth einhorn. will trump part of himself? all of his children? >> what we expect is based on what people familiar with the matter are telling bloomberg news. president trump is not going to pardon himself or family members or close aides. he is preparing pardons for his last full day in office. we don't think those pardons will include a

rishaad: is there anything we learned about china policy from janet yellen's testimony? it does seem there were -- does seem there were hints it could be a continuation of what donald trump has been doing. >> it is unlikely we will hear any big changes based on janet yellen's testimony. she told senators we have to take on china's abusive practices, her words, and said the u.s. is prepared to use the full array of tools to address china's actions, including intellectual property violations, other things. she did say the u.s. would seek to work with the country's allies rather than proceed unilaterally. that would be a big change from the trump administration's approach to go it alone when it comes to china. haslinda: any news of pardons from trump? we are hearing no self-pardon this time around. bruce: we are on pardon watch right now. the clock is ticking. the president has until 12:00 noon on wednesday to exercise his power to pardon. we have heard he is not planning to pardon himself or pardon members of his family or other close aides, but there is still time. with p

with that, we also have a hearing of janet yellen, nominee for treasury secretary.oining us is the saxo bank executive officer. i jumped the gun a little bit there. if we look at the markets, they are clearly positioned for some kind of reflationary trade, maybe looking forward to the explanation of janet yellen in terms of what the stimulus will actually do. what could change that trajectory? >> christmas. it is a little bit like christmas in that the expectations are high. i think what people are saying right now, she is the most dovish chairman in history as the federal reserve, and as the federal reserve chairman she was very much reminding everybody constantly that we need a fiscal handle. now she sits with the money printing machine, and she and the market are expecting her to be going full out. of course, there is a very tall senator from west virginia that can create some noise there, but overall, -- it is pretty sad come of this narrative that the worst gets in the economy, the slower the vaccine rollout is, the better it is for the market because it extend

the power of the american purse could soon be in her hands and janet yellen says she's ready to use it the nominee for treasury secretary telling senators today the u.s. needs to spend big now to push recovery and value tough line on chinese trade practices . also on the show he employs more than $50000.00 americans and was initially a fan of donald trump's tax cuts we asked seamon c.e.o. joe kayser for his appraisal of the trump yours. hello and welcome to the show i'm super busy in berlin it's good have you with us well u.s. president elect joe biden's nominee for treasury secretary janet yellen is pushing for a big stimulus package to save the u.s. economy a former federal reserve chair woman spoke to a senate committee on tuesday she would be the 1st woman in the position and one of the 1st few and one of the few rather treasury secretaries with an economics and policy background rather than a career on wall street yellin wants congress to approve close to 2 trillion dollars in pandemic rescue funds in the face of a ballooning deficit. and here's what she said to justify the spendi

janet yellen will be joe

a pretty big agenda for janet yellen.the short term, the $1.9 trillion stimulus package is crucial for markets to gauge. >> thank you for having me. there are important implications for markets. most importantly, we have a treasury secretary who doesn't need training wheels. she will be a steady hand. she has vast experience. i had the honor of working with her at the san francisco fed. she knows how to communicate with markets. she's known throughout the world, throughout asia. the san francisco fed had a particular focus on asian financial systems. she fully believes in the biden administration's commitment to re-engaging with allies and multilateral institutions. i think she shares the view that the best way for the united states to engage with the rest of the world is to fix its problems. what she made clear in her testimony is that she carries lessons from the 2009 global crisis. first and foremost, go big. don't be too cautious. focus on main street, less on wall street. it was clear she believed that exchange rates

they seemed relatively pleased with janet yellen. should they be?l push on the regulation front? she pushed for a new dodd-frank as recently as last year. do you think she will push for more, more stringent banking regulation? what do you think the banks will get out of this? >> i think what is important is this treasury secretary promote the things that have worked and that are good in the current administration and go away from the ones that aren't. i think the tax reform which is of course treasury's responsibility has been very important. i think a lot of the regulatory stuff ththat's been useful. there is question about international trade, how that is going to work. but i would like to see that the new administration keep the the things that are working and moves in different directions where they're not. i think janet yellen's experience will enable her to put in a good word on that. again it is not just domestic policy or international policy as well. she will have a seat on the national security council. that is an important part of her job

we expect janet yellen to become treasury secretary of the united states. the votes in the senate. amit yoran, still with us, talking about cybersecurity. we are seeing president biden's cabinet being rounded out. we are waiting for more appointments on the security front. i wonder what your advice is to the biden administration when confronting an unprecedented threat landscape. amit: any incoming administration at its core needs to recognize that cybersecurity and technology risks are absolutely critical across the board. it's true of every federal department agency and of every major sector of the economy. all organizations, all enterprises leverage technology in a way that makes them more efficient. that efficiency and use of technology also make them vulnerable to attack. so we've seen lots of examples. over last year alone, nearly $1 trillion of loss because of cybersecurity breaches. this is something the administration has had the opportunity to address head on. emily: you put out a study that 77% of companies say that they expect attacks to increas

janet yellen may have something to say about it janet yellen ran the federal reserve for years underack obama. janet yellen is responsible for creating the distorted financial system that made the reddit revolt possible, indeed inevitable. o where's janet yellen now? what's she have to say for herself? she's joe biden's treasury secretary. here is what joe biden slack had to say yesterday about janet yellen. >> is the white house concerned about the stock market activity working around game stop and now with some other stocks as well including the -- or whatever, the company that once was blockbuster? have there been conversations at the fcc about how to proceed? >> i'm happy to repeat we have the first female treasury secretary in a team that is surrounding her and often questions about market, we'll send to them. our team is, of course, our economic team including secretary yellen and others are monitoring the situation. it's a good reminder, though, the stock market isn't the onlya measure of the health of our economy. those don't reflect how working and middle-class families are

r cornyn is expecting a senate vote on janet yellen later today.p you updated as that crosses, and we are waiting for approval from lloyd austin, the defense secretary, as well. guy: we are also getting news out of europe, out of germany, the astrazeneca vaccine has yet to be approved by the eu, but where it to be, relatively soon we are expecting, looks like they will deliver less eu vaccine than originally anticipated. this comes on the back of problems with the pfizer and biontech vaccine and this is curtailing the year -- european efforts to vaccinate their population, which is currently running behind. we will have more on that vaccination story in the united states next. our next guest joins us to give us their take on how much progress is being made on where the bottlenecks are in terms of figuring out where the vaccine right -- vaccine is right now. this is bloomberg. ♪ >> this is "bloomberg markets" and i karina mitchell live. today, ian bremmer, the eurasia group president. this is bloomberg. >> we are paying very close attention to it. t

she saying i'm on a diet for the new year, will see, i say one thing, if you look at janet yellen's record, she has not had a strong dollar policy that's why she has to come on say is treasury secretary because there's times that the chairman is opposite, she was pro-quantity and pro money printing, she has become say that to make a stance. i don't know if it's going to be market moving only because i think she's trying to convince the market now that i'm treasury secretary we have a strong dollar. i think that's partly it. you're right the dollar is probably due for a better rebound and it happens in a freefall and it's been a major boom to a lot of the commodity sectors the u.s. exporters and even though we may bounce a little bit i think the dollar is going to be in a week period. look what happened when china today that is incredible when you look at the growth, they have been spending a lot of money on manufacturing, infrastructure building, that is going to come back up as well. we don't want the dollar to get to strong we have an awful lot of debt that the government will hav

i janet yellen do solemnly swear. >> i janet yellen do solemnly swear. >> that i will support and defend constitution of the u.s. >> that i will support and defend the constitution of the u.s. against on >>

janet yellen will do what she's asked to do. watch the senate.ator in the background, making things happen. todd: you mentioned budget reconciliation, the two biggest words you'll hear in the next 24 months. nikki haley warning of the harsh reality that bernie sanders is going to be the budget committee chair. she says in a tweet, time to face the harsh reality, socialist bernie sanders will become the chairman of the senate budget committee, he vows to enact his progressive agenda on healthcare, climate, infrastructure spending and cutting defense spending. seems like you share nikki haley's concerns, is that correct? >> i do. it's not because i'm projecting anything. this is exactly what bernie sanders has said, if you look at what he's been tweeting and saying over the past few weeks, he's been saying exactly that. the word he's used is aggressive. he wants people to think about his move as as aggressive and those two words, budget reconciliation, are going to be the words of the winter and the spring. that's the process that the senate can us

janet yellen in particular. a pretty straightfoard one, and they need her imposed soon because one of joe biden's key priorities is the stimulus bill, $1.9 trillion that will put $1400 in a lot of americans's pockets and extend a lot of programs and create a lot of extra capacity in terms of delivering vaccinations to try to meet that 100 million doses in his first 100 days that he promised to do. there is a lot to be done. some of the others may be trickier. they have the security nominee who may have difficulties because of his background. they are expecting some of these to be confirmed in votes on the senate floor this week. >> ok. thank you very much. one of joe bide's first tests as president is playing out in guatemala with thousands of honduran migrants being blocked from traveling north towards the u.s. border looking to seek asylum. these latest pictures -- this was monday these. thousands entered guatemala by foot friday. they will travel onto mexico and eventually reach the u.s. since saturday, they

>> you can thank janet yellen for that because ms. yellen knows how to push the right buttons the markets want to hear what are the buttons you heard one of them. go big or go home. they know that in 2008, should have done even more and not going to fail this time. going to push a very big package, who knows if she'll have to compromise on that but first right note she hit emphasizing rates would likely remain low for a long time and very little emphasis on raising taxes. that's what the markets are afraid of. she even implied corporate taxes would remain below pre-2018 levels and that's exactly what the market wants to hear pretty broad rally tech stocks, growth names doing well particularly, semikuconductors the commodity names had a great start overall to the year. commodity stocks all up and lagging are those defensive names. generally, consumer staples and utilities and many days, even health care has been lagging in terms of what's been happening for earnings season, a good start to earnings season. fairly wide margins but someth

right now, as janet yellen put it, we're in crisis. if we don't do something big, we will head to a recession again. >> stephanie, stand by for a moment. we have breaking news there on the hill. in the last few moments, it would seem as if the general has become a secretary. garrett, what can you tell us? >> reporter: that's right, lloyd austin confirmed, 93-2. a couple of absences here today. austin is the first african-american chief at the pentagon. i believe now the secretary biden cabinet nominee in place. >> what more do we know about the new defense secretary? we have his bio on the screen and our listeners. retired four star general. as garrett pointed out, more history being made, becoming the first black chosen to lead the pentagon. what more do other than it would seem as if, to your point, just two folks who didn't vote, it would seem as if there's broad support for president biden's pick lead the defense department. >> reporter: that's right. that's often the case, frankly, with secretaries of defense. this is usually a bi

janet yellen will be giving testimony tomorrow.now been widely reported that she will say that the new administration would like a market-based approach to the dollar. as was pointed out earlier in the program, that is a boilerplate statement but also maybe sending a statement others not to mess around with their currencies. how do you read it? kit: it means that the u.s. is changing -- it doesn't mean the u.s. is changing in any way, shape, or form. there is no doubt that the biden administration has got some fairly heavy weight trying to watch who is coming into help him out and he will not want to see the idea that they are acting a cheap currency help them boost their trade at europe's expense or the united states's expense. -- united states' expense. we should be prepared that the biden administration is anything but dovish on its approach to china. more likely, more collaborative, trying to look for a united front with europe on some issues , but they will probably start watching some foreign exchange reserve numbers closely

that money is being sent back to the people who have it the people who don't need all the help janet yellen can give them >> yellen is expected to talk not just about the coming co-void relief package but also the fact that the economy recovery was k-shaped even before co-vid hit. there's a look at senate finance. we'll also hear from lloyd austin for defense tony blinken up for state. jim, to your point about travel, though, and the ongoing hope for a second half recovery, the double upgrade of axp. >> that's in line of what's going to happen with just the amazing pent up demand you talk to any airlines or manufacturers, they say look, we're never going to see anything like this again in terms of the second half, 5% growth money being pumped in. i believe it i believe it and now, we have notes today about restaurants. darden doing well. why a lot of other people couldn't spend along with darden chipolte has been doing well people don't go fancy dinner because you can't. you just can't and i think that means that you can buy darden even though the stock is up 50 points. in a heart beat. the

eastern, janet yellen will be facing the senate finance committee. we talked about a little bit of this briefly, she will be talking about her stance on the dollar. she will not be touting a stronger or weaker policy. she is now a salesperson, not defending the fed anymore. she is now a salesperson for the biden economic team and she will be talking about that $1.9 trillion stimulus plan. manus: absolutely. larry summers said before christmas that yellen should not be indifferent of the dollar. my question is of course, it sort of suits her not to reaffirm strong dollar policy. there is the dollar down 0.6% at 11:25. the biden administration arrives today. yellen, as you say, it all caps off at 10:00 a.m. d.c. time, her confirmation at the senate finance committee. what is your sales pitch for the bite into trillion dollar stimulus plan? -- biden trillion dollars to mills plan? we met -- trillion dollar stimulus plan? what can we expect from her? derek: well, i think you are going to see -- all eyes are going to be on her. she's the sort of person ev

so the treasury janet yellen looking at that and say well we could tax that of course that's going to evaporate as soon as she tries to let me ask you this will those who would be most impacted by having on realize gains tax the so-called wealth tax would they not be incentivized to do agree style collapse and profit from the credit default swaps but on america and we always said that once they were successful in destroying greece they would move on to other countries in europe and it would eventually get to the u.s. is that day now approach and we hear now i think it's cisco to be like a game of monopoly i told you i mean this is the overly game of fide and we're at the point where. you know it's me right and the game is over and there's no there's no way to continue this this fraud right this the fraud of a of an entire system right so i think they're just going to have to i think that's why the institutions are buying bitcoin i think that they're going on to plan b. they are already like they know this they're front running at the edges like with all this margin debt. and their pla

janet yellen has urged bold action, this ahead of her senate confirmation hearing janet yellen, the formerof the federal reserve has said that the government must act big with its next coronavirus relief package, this as biden, ahead of his inauguration fleshed out that $1.9 trillion stimulus package. yelin has tried to assure fiscal hawks saying both her and biden appreciate the country's dead burden, but with historically low interest rates is is to alkt big. yelin wants the economy to be rebuilt so that it creates pros pare rity for all she says wealth has been built upon wealth leaving many families behind, so she's calling for more equality across the board. keep in mind janet yellen is very much a business-friendly pick the market has very much welcomed the selection we'll wait it out to see what comes out of the senate hearing. there will be a call for dramatic action. >> the stockmarket is up, but there are food lines that we're facing here. major discrepancy here thanks. >>> janessa is taking a look at the inauguration forecast. that's coming up nexext. >>>>> plus thehe 1 1.5 in n

investors preparing for secretary yellen. >> the exchange rate will be the main emphasis coming from janet yellenis a boilerplate moment. the u.s. would continue to support strong dollar area >> -- dollar. >> it is pointed toward dollar weakness. >> weakness we see it should push inflation. >> what happens with the fiscal package. >> yellen may be christmas coming. >>

here's janet yellen saying exactly what she was expected to say, calling on stimulus to go big. here's yellen. >> right now with interest rates at historic low, the smartest thing we can do is act big and i believe the benefits will far outweighst costs, especially if we pair it with people who have been struggling for a very long time. >> sandra: janet yellen. mid 70s, picked as the first female treasury secretary. our reporters saying she could be confirmed in a matter of days. ari, she is talking about spending big money at a time when we have soaring debt in this country. she's getting support for it. goldman sachs and other market watchers are saying if you're going to do it, do it in a low interest rate environment. now is a good time. benefits outweigh the risks. >> you know, every time a liberal says go big, what they mean is the government should go big. my definition of go big is open the economy. that is the best way to do it. there is a template. when i said the poverty was the lowest since '59, can't we learn from that? don't we want to help the people who struggle t

tell me about janet yellen and her impact.l lead the treasury department, urging law makers at her confirmation hearing yesterday to act big on covid-19 relief spending. this is something that we just discussed in terms of what that money going into consumers' pockets is going to mean. what kind of impact do you expect, nancy? >> 6% gdp. if we get stimulus, 7% plus gdp is a possibility for the economy. the economy is healthy. we have healthy companies. you're talking about corporate profits. we think profits are going to be stronger in fourth quarter. that's important. healthy private sector and the government is going to potentially going to add more stimulus to the economy. i thought one of the most interesting things she said yesterday was that they're going to in the raise taxes during -- during the pandemic and that to me is a really important step. i would particularly hope they don't raise taxes on corporations. it's companies, it's the private sector that create jobs. they are focused on the job market which is very en

romaine: this ties back to what janet yellen said.dea of your utility of bitcoin and other crypto assets, what are institutional investors saying they are using this for? is just simply to store wealth. -- wealth? michael: you guys remember our drop gold advertising campaign from a few years ago. that is a widely held narrative now what i don't think it is coincidence. bitcoin at its all-time highs late in 2020 at the same time we saw a record outflows from gold products. i think in addition to that narrative over the course of the year we sought evermore fiscal stimulus being injected into the financial system. many investors were drawn to bitcoin. i believe that continues to be a theme that attracts them to the asset class and not be something we will be getting off of anytime in 22 anyone. -- 2021. holding an asset that is scarce versus one being diluted. important for a lot of investors as they evaluate the product. joe: we were talking about all these options trading on robinhood, gamestop, and all these others, and there is a lo

janet yellen previously served as chair of the federal reserve and, at 3 p.m. eastern, the confirmation hearing for lloyd austin to be defense secretary. if confirmed, he will be the first african-american secretary of defense. watch live coverage of the confirmation hearings on c-span, on-demand at c-span.org or listen on the c-span radio app. moment. we are joined by the white house correspondent for the washington post to talk about the last few days of the trump presidency. good morning. guest: good morning. host: showed president trump in alamo, texas. one of his only appearances. how was he spending the last few days? guest: he is starting to realize he is going to be losing office and preparing for his time in the post presidency. he is preparing to travel to south florida where he has residence at mar-a-lago and will be spending time there to see what influence he will have over the republican party. he is currently facing an impeachment trial where he could be convicted and barred from holding office in the future. he is looking at legal options for pr

are concerns about new regulations that could potentially slow down the rally so you mentioned janet yellene treasury secretary and yellen, in the past, has actually said she's "not a fan of crypto" and most recently, she did say she wants to curtail cryptocurrency because of its use in illegal financing and financing terrorists as well, but regulation may not be bad news. some even say that it could help cryptocurrencies go mainstream. >> you take into account, you can always use it for good or for bad, and the hand of a surgeon can save a life and the hand of a lunatic can take your life and it's how we regulate it and how we control the parameters under which you can use this technology. reporter: but others say regulations don't always work. >> the cryptocurrency is because as we can see , even in countries where it is strictly for bed in people are still using cryptocurrencies. reporter: there's still a lot of volatility on the markets, very recently, about $1 trillion as wiped off of bitcoin in just two days but despite that volatility, you're still getting institutional asset manager

the justification by janet yellen is the lower borrowing cost at the moment. with a big note saying you can expect 2% on government bonds. goldman sachs, peter oppenheimer has his note out, buy the weakness. inflationary narrative from their highs of goldman sachs. good morning. annmarie: good morning. let's kick it back to soon be president joe biden. he arrived in d.c. ahead of his inauguration today and expect it to be a ceremony unlike any other. the transfer of power happening under tight security just two weeks since trump supporters stormed the capital in a riot that left five dead. more than 20,000 national guard troops have been deployed to d.c., with the mayor asking americans to stay home. joining us as the deputy director of the berlin office of the german marshall front of the u.s. it works on issues impacting the trends look left -- transatlantic relations. thank you so much for joining us again. you are with us the morning after that riot. two weeks on. before i get to biden, i want to jump to a point -- trump's approval, 34%, one of the lowest

, because i say that when i grow up, i want to be janet yellen and first woman fed chair assuming she is confirm and a good bet. i think that she going to be measure and working well the fed. it is really important, because what happens next with the fiscal stimulus is our bridge to normalcy, and if we can get a decent package through, and yes, we have a little bit of the majority in congress, but i don't know if we will get a $1.9 trillion, and maybe 500 billion to $1 trillion to get us to the pathway to get us over the bridge until we see normal activity, and a pickup in the corporate earnings. so i have to put my money on janet yellen and i'm excited to see her, and hopefully confirmed soon, and the markets are responding. and some 10-year treasury yields are up, and through the roof >> and angela, a number at which the market may respond negatively i think that the market is probably priced in 1.5 or 1.3 trillion as a bottom, and 1.9 would be great, and in terms of -- is there a number where the markets would be sizably disappointed >> i think that if we see south of $500 billion,

janet yellen previously served as chair of the federal reserve. at 3:00, the senate armed services confirmation hearing for lloyd austin to be defense secretary. if confirmed, retired four sta t general austin will be the first african-american secretary of defense. watch on c-span, c-span.org, or listen on the c-span radio app. host: scott of "the hill" newspaper to talk about the next steps. take us through the steps of how this works from transmission of the articles to what we know about the timing of the senate trial. guest: there had been some debate about how that nancy pele democrats would transmit the article of impeachment. that single article, incitement of insurrection. james clyburn has advocated to try to delay until joe biden could establish his administration. also, get his top officials confirmed through the senate. the consensus now among democrats seems to be to do this as quickly as possible. i'm hearing the article could be transmitted in the coming days, perhaps even today even. democrats huddled last night in nancy pelosi's

you say, so that is the story with janet yellen edward. who is up next in terms of confirmation hearings, do we know? reporter: a numb i about of them. actually five hearings were going on today as we speak. we know janet yellen will come to the full senate on thursday. there will be another hearing a preliminary hearing on thursday but again five of them went today, a number of the security folks did go today. but yellen will be the first it looks like actually possibly be confirmed with a thursday morning target. connell: edward, thank you. edward lawrence live here in washington. white house right behind me. president trump still in there. he recorded a fairwell message to the american people yesterday we're told. we're about to bring that to you in just a moment. so stand by for that. back to joint base andrews as well at this hour where the president-elect of the united states, joe biden has just landed. he is set to speak at a covid memorial event this evening here in our nation capital. they are waiting for the president-elect and h

we have been monitoring what janet yellen has been saying.e expertise being a former chairman of the federal reserve and, of course, a lead head of the counsel of economic advisers under bill clinton. so when she makes remarks that it's important that corporations and wealthy individuals pay their fair share in taxes, it always begs the question i raise here, what exactly is fair share? is it getting the top rate back up to 39.6% which is, i think, what joe biden wants to do especially for those earning $400,000 and over. is it getting the corporate rate from 21 is % to 28%, still less than the 35% it was at its height when donald trump took office. want to explore that as well as the trump legacy as he's hours away from leaving office with the independent women's forum senior independent analyst, deneen borelli, and after the bell host, my buddy, connell mcshane. connell, we have gone into this many times, this notion of what is a fair share to pay in taxes if you're a wealthy person, you're a corporation. it always seems to be a moving targ

this comes back to my concerns as janet yellen -- of janet yellen.ollegiate people to come to a conclusion and the right conclusion about monetary policy. they were tapering and tightening at the same time and that blew up on her watch. i believe that janet yellen may not necessarily, although very qualified for the job, may not be the right person to deal with the egos involved on capitol hill and she will have to deal with them. she hasn't shown the ability to master the art of negotiation properly. this is where steve mnuchin was a unique character. he orchestrated a good deal of the funding many movies. when you are dealing with the movies you are dealing with egos of producers, actors, egos of studio companies. he was capable of dealing with the large egos out there. it remains to be seen whether janet yellen can. when she was at the fed, she certainly was not able to do that. it will be interesting to see if she can do it now. guy: it will be fascinating to see who she puts around her. negotiation skills will definitely be required and managing

janet yellen wants to go big on stimulus. we're still own the upside.clinton. xi is still pressing the russia angle. she want as commission, 9/11 style to look into the riot. they want to harass republicans forever. back in a moment. ♪. (ringing) - hey kaleb, what's up? how you doing? - hey, i'm good, guess what, i just had my 13th surgery. - really? i just had my 17th surgery. - well, you beat me. - well, i am a little bit older than you. - yeah it's true. how are you doing? - i'm doing good. i'm encouraged by seeing how people are coming together to help each other during times like these. - kind of like how shriners hospitals for children is there for us. imagine if i couldn't get my surgery. who knows what would have happened. - same for me. i know my shriners hospitals family will continue to take care kids like us who need them most all because of caring people like you. - like me? - no, the people watching us right now at home. - oh, those people. hi people. - kaleb and i know not everyone can help right now, but for those of you who can, we hope

and, janet yellen as treasury secretary, we put that question up next.lcome back to bloomberg markets, this is the european open. 54 minutes in. see the red arrows. broader european benchmark now gaining .6%. joining us leads our market life team. let's talk about what people are expecting from the inauguration. it is an exciting event. it looks like we have a risk on wednesday. is this all about the stimulus? >> it plays well. [inaudible] matt: i am going to say that we need to do some infrastructure spending in the u.k.? anna: another issue where the phone line is letting us down. matt: it sounds like -- either it is down or she did not want to answer my question and she is faking it. anna: i get a sense. matt: in any case -- as we read out, we can take another look at the markets. not just the equity picture, yields rising, i looks like investors are comfortable enough to let go of u.s. debts. the dollar continues to fall, the dollar index is down. economic gains, economic gain expectations pushing things up like oil. anna: it does seem interesting th

if not the a's are $84.00 the nays are 15 and the senate confirmed janet yellen as new treasury secretary with an overwhelming majority of $84.00 to $15.00 yellen no stranger to the world of finance lead the world's biggest central bank from 2014 to 2018 of course janet yellen is best known for her chair chair for her tenure as chair of the federal reserve overseeing a period of falling unemployment and steady economic recovery from the global financial crisis few people possess the experience and expertise that miss yellen would bring to the treasury particularly during this moment of economic crisis. the 74 year old says she hopes to revive the economy with a massive covert 19 relief package she urged lawmakers to act big given historically low interest rates in spite of soaring federal debt the administration's 1.9 trillion dollar economic relief bill includes another round of direct stimulus payments to individuals and small businesses also planned our long term investments in infrastructure time now for a look at some of the other business stories making the news sentiment among germ

janet yellen was there at the fed.r at the treasury working together with someone she has experience with in jay powell at the federal reserve, i think they are going to continue to look at the data and take information from the business environment and act appropriately. they loosened up the spigot early on. they have given guidance even if inflation begins to rise. i think it is important that business owners understand the environment they are working in and the ability to have confidence the fed and the treasury and programs will be on our side and be there and that policy will follow what is needed in order for us to recover. this is an unprecedented set of events that have happened with this pandemic, and having confidence in both the administration, treasury, and fed is incredibly important. i am happy personally to see it. amanda: frank, we did see loosening on some of the restrictions imposed on big bank, including to do buybacks. are you worried at all about a reversal of the tone, more regulations, a tighten