very shortly, but meantime we're getting dribs and drabs in the hearing going on in the house, janet yellennd federal reserve chairman jerome powell. yellen is saying the country is 10 million jobs from its covid peak. so the fact of the matter we have aways to go. i worry the covid economy will haunt people long after the pandemic is over. she ad sophisticated very hard for american rescue plan. the speed of recovery itself depends how we enforce and follow up on that legislation. jerome powell is speaking right now. he might have something to say about a colleague. of course the dallas federal reserve president, robert kaplan, who advocated the federal reserve will likely have to raise interest rates next year to respond to the sharply improving economy. so we'll monitor this very, very closely for you. remember these can trip markets up, get them going again, based on what either says. maybe this time yellen will get a lot more attention because what she is advocating in terms of ways to pay for infrastructure and some of the other things that the administration wants to do, including a

janet yellen and fed chair jay powell will testify to congress.eck in on the bloomberg's first word news now, i am rich, up to. we are getting more details on the shooting deaths of 10 people in a supermarket. police identify the shooter as a 21-year-old. he is now in custody. among those killed were the first policeman arriving to the store. president biden is making a push for his next multitrillion dollar spending bill. this one is focused on infrastructure. he said it could enshrine u.s. competitiveness against china for decades to come. americans are heading north across the border being spurred by promises of stimulus deal resurgence in the u.s.. the number of monthly apprehensions of working age mexicans traveling without children has grown. at a yearly rate, the most in a decade. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is blue. guy: treasury secretary janet fed chair jay powell about two of three days of congressional t

powell and janet yellen had back to the hill today.

testimony from jerome powell and janet yellen are on the docket.lor merkel puts germany into a hard eastern lockdown amid a surge in covid cases. she cause the situation "very serious." we hear from baidu's ceo on a big homecoming as china's largest internet search firm debuts in hong kong. very good morning to you. 90 minutes away from the start of european equity cash equity trading. march 23, 2021, 1 year on from the u.k. lockdown. europe still struggles with the coronavirus and we saw the overnight with angela merkel just after 2:30 a.m. local time putting germany into a hard easter lockdown. we have a picture of equities across the board extending losses into the red. msci asia-pacific down nearly 0.8%. the nasdaq not continuing the pace today. we do have as well alongside u.s. equity futures lower. a lot of attention will turn to the treasury market today. tender yield this morning, 1.66% -- 10 year yield this morning, 1.66%. also overnight, we got details of president biden's infrastructure plan, including the price tag, a tentative $3 trill

how can we open up more interest and bring more young girls to be seeing themselves to be the janet yellensfuture? sec. yellen: so that's a great question. let me offer some. i am interested in what your idea on this would be also. when women are introduced to economics, often they do not take an economics course either in high school or in college, but when they do, often the way economics is taught is a turnoff to them. what you and i just talked about, how important economics is to human welfare, they don't see that in an introductory economics class. they often are in disproportionate numbers and go off to other fields. they are more attracted to sociology, which they think really does concern help people live, interact, and what determines human welfare. so one thing i think we have to do, the pipeline issue really starts early. there are a lot of people now who are thinking about, how can we teach economics in a way that shows women that this is a great field and it is a way to improve human welfare? there are people like claudia goldin, who is at harvard, who has a grant to do experi

. >> along side and janet yellen.hey have a face down and a lot of critics than the republicans. >> criticism from republicans. the democrats are pushing yellen very hard. first on the house financial services, the senate banking committee. we know that janet yellen is full tilt behind biden's plans and we will hear her. powell is going to say something he doesn't want. powell, his prepared remarks are out. he said fed stimulus is going to say and janet yellen say full employment could be back. is she the idea that people from prominent economist and high praise in 2022 not in 2023? it's interesting to hear her that the economy is going to be so strong and going to be interesting testimony regardless. >> kathleen hays there. and breaking news out of germany. the e.u. should not have an export ban and five-day lockdown over easter and because of the situation and coming on the leaders agreeing on an expanded period. markets are expected to open. germany a five-day lockdown . >> u.s. japan and emerging markets. the stra

how can we open up more interest and bring more young girls to be seeing themselves to be the janet yellens of the future? sec. yellen: so that's a great question. let me offer some. i am interested in what your idea on this would be also. when women are introduced to economics, often they do not take an economics course either in high school or in college, but when they do, often the way economics is taught is a turnoff to them. what you and i just talked about, how important economics is to human welfare, they don't see that in an introductory economics class. they often are in disproportionate numbers and go off to other fields. they are more attracted to sociology, which they think really does concern help people live, interact, and what determines human welfare. so one thing i think we have to do, the pipeline issue really starts early. there are a lot of people now who are thinking about, how can we teach economics in a way that shows women that this is a great field and it is a way to improve human welfare? there are people like claudia goldin, who is at harvard, who has a grant to d

two janet yellen come away in is too much debt harmful -- two janet yellen, when is too much debt harmfulthe fact that we have both chair powell and treasury secretary yellen, i am getting them confused. it is really hard. but this idea that janet yellen will have to be asked what is the appropriate rate of 10 year treasuries to make this borrowing spree worthwhile, and to chair powell, what are you going to do to suppress borrowing costs enough to make this worthwhile? these are very important questions. i don't think we are going to get responses. jonathan: the chairman powell of 2021 is very different from what we saw in 20 18. this tuesday morning, here's the set up. a little bit of risk aversion. equities are down 15 on the s&p. the nasdaq is softer, even with this massive bid into the bond market. we have been so used two seeing yields go the other way. 1.63 percent on tens. in the fx market, euro weaker. euro-dollar down 0.4% to $1.1883. if we stick on this story, commodities underperforming. uti lower by almost 5% now, $58.60 -- wti lower by almost 5% now, $58 60 cents. there's th

janet yellen says the risk is small and manageable. new data shows the extent of china's economic resurgence year after the coronavirus lockdown. investment sore more than 30%. astrazeneca insists its vaccine is safe. this despite more countries banning the shot. there are concerns about blood clotting and adverse reactions. and rent has risen to around $70 per barrel -- brent has risen to around $70 per barrel. is this the last year -- boom year for oil? many people have called the demise of oil before. a risk on tone to the week. central bank announcements abound. a trillion dollars has flowed into equities in the last months and will the wash of money continue? the nasdaq has topped out relative to the s&p 500. we are in an epic reversal. deflationary nasdaq, topping out, and an inflationary russell. this employee says 2020 marks an inflationary low point. i show you the rates market because some would say it is a wonderfully rich page. $15 billion flowed out of the bond market last week. that is the most in a year, as it yields sti

testimony from jay powell and janet yellen will give investors plenty to consider. the turkish lira plunges as another central bank chief is ousted. he is the fourth in two years. the eu is ready to withhold covid-19 shots from the united kingdom. a very good morning to you and happy monday. a busy week. we are seeing weakness broadly across the asia-pacific region. down 0.2%. u.s. futures in the green but europe is broadly in the red. the dax -- germany is gripped with a third wave. 10 year yield this morning down so far dropping five basis points. we have a number of options this week -- auctions this week and we have to talk about the lira. down more than 9% against the u.s. dollar as erdogan fired the bank governor in a late-night decree. the new governor is turkey's fourth central bank governor in two years. everyone is worried about the rock-bottom rates. more on that in 10 minutes. a busy week. a number of events. jay powell and janet yellen will testify. tuesday. there is a series of treasury auctions. the later takes place on thursday. and a host of data po

treasury secretary janet yellen says u.s.n subdued despite massive fiscal spending. she told abc's this week that despite some rises will be temporary. a survey sees the fed hiking rates in 2023, but don't expect that moved to be reflected in forecasts this week. the military leaders of myanmar have declared martial law in the commercial capital. the move comes after beijing asked for better protection for chinese owned businesses with some coming under attack. the death toll is continuing to rise in the country. the united nations says 88 people have died since the coup on february 1. global news, 24 hours a day on air and on bloomberg quicktake powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. anna: thank you very much. on the program, we will look at stocks to watch including roche as the company agreed to buy covid test maker genmark for $1.8 billion. this is bloomberg. ♪ anna: welcome back to the european market open, 15 minutes until the start of cash trading. european equity market

again, we are thrilled to have us treasury secretary janet yellen and the managing director. so now over to both of you for this wonderful conversation. >> thank you very much. i join you to warmly welcome secretary yellen at the imf. she has done what no man has achieved in the united states chair of council economic advisers, chair of the federal reserve, and now secretary of treasury. everybody is looking forward to hearing from you secretary alan. we went to learn how you made your choice to get into economics, what have you learned from your life experience and what we can say about economics and let me say we have chosen the title but never in my life have i seen so many women in key positions for economics of finance matter. >> as a minister of finance to the united states and my predecessor at the ecb. and the wto, the very first woman president we have two women chief economist at the world bank we are very proud and very proud on the other side of the street and with the deputy managing director a fantastic dynamic woman we have grown management 20 percent in the las

. >> jerome powell and janet yellen have been testifying to a u.s. congressional committee about the prospect of the u.s. economic recovery. both suggested the u.s. economy and labor force need more support to recover from the pandemic. janet yellen confirmed the administration is considering a hike of the corporate tax rate in part for a $3 trillion info structure bill being discussed by the administration and could be unveiled in the coming weeks. she also defended the recovery bill as necessary to protect the most vulnerable households. >> one in 10 homeowners with rtgage are behind on their payments. almost one in five renters are behind on their rent. 22 million people say they don't have enough food to eat. one in 10 adults are hungry in america. i looked at data like these and worried the economy was going to keep hurting millions of pple now and haunt them long after the health emergency was over. >> janet yellen in that testimony earlier. we will take a look at the trading action. a muted session on wall street saw stocks turning sharply low

janet yellen saying even with the yields backing up as they are, that does not increase.t will be lower because we are rolling up longer debt at the moment. at the moment, it is about the fed does not seem to matter, nor should anyone else perhaps. joe: should we just spend away on all of this? joining us with more insight is noah smith, who has a new column and bloomberg opinion, making the argument basically that we should not be using tax hikes to pay for it, for infrastructure. what is with this just put it on the deficit? >> right. i don't think we can infinitely deficit spend on everything forever, but i think there are two things about this kind of green infrastructure spending that make it particularly good for deficit spending. number one, it is temporary. like covid relief, it will not be a become expense. number two, it is something that increases the activity of society as a whole. if you think about the economy and people at the citizens as the shareholders of the government, then you think about this borrowing to fund this infrastructure improvement as borro

then -- one on one -- treasury secretary janet yellen reveals what she says is the real unemployment rate, and why she supports going big on economic aid to americans. sec. yellen: the most important thing is to get our economy back on track and help people get their lives back in order to make sure that this pandemic doesn't permanently scar our workforce. judy: and it's friday.

host: on that borrowing you write that janet yellen believes the u.s.ore capacity to borrow than once thought in part to a trend in falling interest rates but that does not mean "anything goes, but longer run we have to raise revenue to support spending we have to do." hinting there at the planned tax hikes by the biden administration. guest: she said it explicitly this next big package we talked about earlier and they are contemplating would include revenue raisers. tax increases. one of the big things they want to target is the corporate tax rate which was lower during the trump administration, with their big tax cut package, and they want to turn it back to 28%. she talked about enforcement. that came up this week. there was a big study, monday, that showed an enormous tax gap and the top 1% of individuals, basically missing out on tax revenue from them because they are underpaying or evading or avoiding -- depends on what terms you use -- they basically said, provide more money to the irs for enforcement. their budget has been emaciated in the past

powell and janet yellen will be on capitol hill today talking about how the year has progressed. their opening statements and there's not much there. powell has said if the economy is getting better we would expect rates to rise. you look at 175, it's about where we were a year ago coming into 2020. it isn't going to bother the fed too much that rates are rising toward the level, especially given the speed with which they are rising and slowly. go ahead. lisa: i would argue it's not the long and that people are really thinking about. his projection to 2% treasury yield sounds like a lot but it's not that much relative to history. the idea of raising rates in 2022 flies in the face of all of the messaging in the federal reserve and it edifies some percolating concerns in the market that the fed will not be able to avoid hiking rates. how much will jay powell have to address the concern that if inflation does overshoot even if it's in the near term, they are going to have to respond? >> he's going to say that. if inflation does rise significantly and quickly and gets to their 2.5%

eastern on c-span, treasury secretary janet yellen and federal reserve chairman jerome powell testify before the senate banking committee about the economy and federal response to the pandemic. then a senate armed services subcommittee holds a hearing on sexual assault in the military. on c-span2, the senate is back at 10:30 a.m. to work on nominations for assistant health and human services secretary and energy secretary. and on c-span3, potential changes to campaign finance and election law with former attorney general eric holder and michigan secretary of state jocelyn benson.

we've got jay powell and janet yellen completing the second day of their testimony here.pany go from here, let's bring in ellen zentner. chief economist. ellen, glad to have you back here with jay powell and janet yellen with the immunity of some time with the best stimulus we could very much. i put out a prediction, 5% unemployment by the end of the year, i'm bullish. what do you think? do you think the job market will heat up that much? >> yeah, i think your spot-on with the unemployment rate i think if it goes even lower than that we shouldn't be surprised. and we shouldn't be surprised where growth goes. think about where we are at this time last year we kept revising forecasts across the street, rapidly trying to understand how deep the drop in economic activity would be how much job loss we would have. fast forward to the end of last year, and growth wasn't nearly as negative as we thought it would be and here we are, i think, entering the spring, and we're going to be in opposite situation, i think, where we're going to be in upward forecasts trying to catch up to

tuesday, a hearing on covid-19 economic relief with treasury secretary janet yellen and federal reserve. -- chair jerome powell. it begins live on new dean stern at c-span. listen with the free c-span radio app. >> as we begin the week here in washington journal we will take a look at the busy week ahead for the administration in particular with resin biden. where joined by brett samuels. guest: good morning, thank you for having me. host: let's start with the conversation we are having about the border. the homeland security secretary making the rounds on the sunday shows yesterday. any further word on whether the president will address this either in the news conference on thursday or in other ways? guest: i think the home and secured he secretary being on the sunday shows underscores the extent to which this is an issue which the biden demonstration is having to address on essentially a daily basis. i would expect it to come up thursday at president biden's first extended press conference. in addition to that, we will see officials from the biden demonstration traveling to the border

i'm sure janet yellen would say the same thing. inflation has not been a problem, inflation over 2% and rising. probably for the last 20 years, certainly not now. this is why jay powell is so confident, there is globalization, technology, all kinds of things. you will see a cyclical upturn but not a structural change. not yet. shery: we also had comments from dallas cap and, what did he say? >> he move the rate hikes for the fed, to next year. look at the dots, this was the big story last week, there are now seven fed officials, seven members of the federal market committee, you can see in 2022. combined with the people who have the rate hike by the end of 2023, they don't think the fed can wait that long. now, he has also, i think has been asked particularly after jay powell last week downplayed the importance. in fact, he said i would not read too much into this change. another thing interested about rob kaplan is from the very beginning, when it announced its framework, stay above it moderately for extended. of time -- an extend

treasury secretary janet yellen spoke about this yesterday up on capitol hill.t yellen. >> i think a package that consists of investments in people, investments in infrastructure will help to create good jobs for the american economy and changes to the tax structure will help to pay for those programs. maria: okay. a change in our tax structure, aka much higher taxes. you were at the hearings. this is your committee. what did you hear and are you expecting the administration to follow through on these proposals, that is, come out with a $3 trillion package that's infrastructure, climate change and -- well, it's really climate change and then raise taxes significantly. >> she's wrong on this one. they inherited the greatest economy we've seen in certainly my business career of 50 years. you can not tax people, tax main street, big business, small business, and expect to create a growing economy. you have to cut taxes which we saw which creates jobs and creates opportunity. you talk about infrastructure. yes we need infrastructure. we needs roads, bridges, ports.

, is and also akrotiri of the treasuryjanet yellen, is more important treasury janet yellen, is more yellen, is more important to air on treasury janet yellen, is more important to air on the treasuryjanet yellen, is more important to air on the side of getting peoplejobs and making sure they survive then are on the side of avoiding inflation. thank you very much. pope francis has met the influential shia muslim cleric, grand ayatollah ali al—sistani, during the first—ever papal visit to iraq. later, francis celebrated a public mass at stjoseph's cathedral in baghdad. 0ur rome correspondent mark lowen is travelling with the pope. peace in iraq will take time to flourish, but this visitor is determined to see it. along the narrow alleyways of najaf, and into a historic meeting of two faiths, catholic and shia islam. grand ayatollah ali al—sistani face—to—face with pope francis. at 90 and 84, it's taken long lives and generations to get here. the two religious leaders spoke of friendship to overcome oppression, rare unity after iraq's sectarian conflict. that theme of dialogue then spr

these join us in welcoming secretary janet yellen. >>>> thank you, everyone. hope it may be everyone's last time of attending this conference by zoom. i find these virtual get-togethers not quite as good as the real thing, but still, i'm so glad to be here because i know they can be useful. i've been in office a little over a month, and every week or so i've been holding a virtual roundtable with a different group. two weeks ago, for instance, i met with a group of mayors from small cities. one was mayor nick hunter of lake charles, louisiana. they might want to begin the story in lake charles. it is a port town of about 80,000 on the gulf of mexico. there is a lumber mill outside the city limits and three casinos line the lake. the regional airport, which offers a few dozen flights a day to places like dallas and houston, employed hundreds of people until the pandemic. covid-19 hit lake charles like it hit so many other places. the lumber mill closed, the casinos laid off thousands of workers. mayor hunter estimates the casino layoffs alone raised the parish'

jay powell and janet yellen kicking off the first of two days of congressional testimony this morningrising deficits as well as inflation fears. yellen expressed optimism in her written testimony, said we may see a return to full employment in 2022. what are the charts telling you and what's your take in terms of interest rates, pulling back on the 10 year this morning, that's been one of the main issues for investors who have been wanting to sell stocks. >> i think that the stock market to me looks vulnerable. i'm an old guard guy. i've been around for a long time. we used to use a term called painting the tape. when high tech stocks, nasdaq stocks did worse than the dow stocks, dow stocks get painted up, that's the one that the public seems to pay more attention to. they hear the dow is up 300 points, 400 points, they think the market's going stronger. the nasdaq is down 17% year-to-date so the tape is being painted. that's to me detrimental to stocks generally. as the chairman of the university of akron's endowment i moved 3% of stock market exposure out a month and-a-half ago, mov

we have with us today janet yellen and the managing director of the imf, christalina. over to both of you for this wonderful conversation. >> thank you very much, jerry. i join you in very warmly welcoming secretary yellen at the imf. she has done what no man has achieved in the united states, a hat trick being the chair of the council of economic advisers, chair of the federal reserve and now the secretary of the treasury. no wonder everybody at the imf is looking forward to hear from you, secretary yellen. we want to learn how you made your choice to get into economics, what have you learned from your life experience that is of interest to the economies at the fund and to everybody at the fund. what we can say about advancing women in economics. what are the barriers to move away? and let me just say that we have chosen the age of womanomics. never in my life i have seen so many women in key positions where core economics and finance matter. you, as the minister of finance of the united states, christine lagarde, my predecessor at the ecb. the very first woman preside

janet yellen says she wants a fair remedy for the issue.can refinery supply more russian oil than ever. that is at a time when washington is talking about energy independence and warning europe not to become too dependent on moscow. sanctions prevent u.s. refiners from getting venezuelan crude and opec has cut back shipments so last year russian oil became an option. russia was the third largest supplier of oil to the u.s. in 2020. intel has unveiled an ambitious bid to regain its manufacturing lead. the company will spend billions of dollars on new factories, plus it will create a foundry business that will make chips for other companies. it is an aggressive move, putting intel into direct combination with taiwan semiconductor manufacturing. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ >> i like making museum successful. when i was a kid, three afternoons out of five, after school, if i was not doing s

meanwhile, janet yellen has a more difficult job. she has a more nuanced role to play in these testimonies, doesn't she? michael: she has moved from the fed over to treasury across town. she has moved from the neutral seat to the political seat. republicans had a lot of questions for her today. there were some really interesting exchanges. the one that is going to get the attention on the news is the exchange she had with senator john kennedy of louisiana, who criticized the administration for supporting an increase in fdr allocations at the imf that could be used by poor countries to pay for their pandemic response. because money is fungible, republicans are concerned that money will go to russia to pay for oil, it will go to china to pay back loans for the belt and road initiative, all kinds of foreign policy results the united states does not want. janet yellen defended that idea and he started talking over her. she said, i don't know where you are getting our numbers from, these are wrong, and they did agree to talk off-camera, s

then -- one on one -- treasury secretary janet yellen reveals what she says is the real unemployment rate, and why she supports going big on economic aid to americans. sec. yellen: the most important thing is to get our economy back on track and help people get their lives back in order to make sure that this pandemic doesn't permanently scar our workforce. judy: and it's friday. david brooks and jonathan capehart consider the covid relief bill debate, the political divide on voting rights, and efforts to reform policing. all that and more on tonight's "pbs newshour.” ♪ >> major funding for the pbs newshour has been provided by -- >> moving our economy for 100 60 years. bnsf, the engine that collects us. -- connect us. >> consumer cellular. johnson & johnson. >> fostering informed and engaged communities. >> and with the ongoing support of these institutions. and friends of the newshour. ♪ this program was made possible by the corporation for public broadcasting and contributions to your pbs station from viewers like you. thank you. judy: the latest jobs report shows a surprising reb

do they agree with janet yellen? janet yellen is no longer the fed chair. of the biden team. it is her job to make sure the democratic agenda passes. i'm sure when she took the job she is and was on board with the need for this really big stimulus. i think it is important to remember that it is not the same to be the treasury secretary as the fed chair. rishaad: two different beasts entirely. i want to move to japan. they smacked it to tweak their policy. we believe people will look at it as to not deal with inflation but continued disinflation. what's on the table? what are they expected to say echo >> i would like to credit a friend of mine who i was talking to last week in tokyo about this. his idea is, look, what the bank of japan is looking at is a marathon in terms of dealing with disinflation and getting the economy back on track. it is not a sprint. they want to make sure their current policy is sustainable. here is the kind of things they are looking at. let's start with etf purchases. this is their policy review. they are criticized for buying son

you talked to janet yellen earlier about inequality.est thing thecountry could do to reduce a inequality is about have a white hot economy. you get a white hot economy. i think this is the time to go big and go fast and this is the time the democrats are on the right course. i think some of the reforms that manchin have brought in seem very sensible to me. you don't want to have benefits run out in the middle of the summer when congress is likely to not are in session. extending to september oor october when they could renew when necessary is a smart one so i don't know what senator manchin is thinking on that front. >> woodruff: something else this week several governors announced jonathan that they are lifting their mask mandates. and president biden when asked about that said it sounded to him like neanderthal thinking. he has gotten a lot of blow-back since then. smart thing to say? what do you think jonathan? >> capehart: judy, i'm going to leave aside the president's comments. a lot of people are upset he used the term neanderthal

that is after secretary to treasure janet yellen said this week biden has a rich portfolio tax plansoffset the cost of the spending ambitions. she said the president is ready to raise the corporate tax rate 20% after former president trump/to down a 21 and 2017. how could these bright ideas affect your wallet? joining me to break it down wealth management chief investment officer and "fox news" contributor scotty martin is back. >> we call him not a scotty. >> not a scotty and hot under the caller with janet yellen's administration plans. janet yellen boys and girls is one of those out there fanning the flame for more spending so she's like oh no problem i'll just go to joe's office and tell them to start hiking taxes everywhere because i'm telling you to spend all that money first off. kennedy: we will just. more. it will be great and we are not on the hook for anything. obviously the corporate tax rate looks like it's going to go up 7%. they are talking about a capital gains tax. which would be worse for the economy? >> they are both bad. the corporate tax rate is strictly impactfu

>>> treasury secretary janet yellen holding firm on push for new taxes being grilled by lawmakers.ive into the financial fallout when we come back. (deborah vo) i was hesitant to get the hearing aids because of my short hair, but nobody even sees them. (vo) discover the exclusive, new miracle-earmini- a nearly invisible hearing aid from the brand leader in hearing aids with over 70 years of experience. (deborah) when i finally had miracle-ear and i could hear for the first time, i started crying. i could hear everything. new miracle-earmini. so small and comfortable that no one will see them, but you'll notice the difference. call today to start your 30-day risk-free trial at your local miracle-ear. i'm greg, i'm 68 years old. i do motivational speaking in addition to the substitute teaching. i honestly feel that that's my calling-- to give back to younger people. i think most adults will start realizing that they don't recall things as quickly as they used to or they don't remember things as vividly as they once did. i've been taking prevagen for about three years now. people say

janet yellen dismissing fears that the president near to trillion dollar relief package will stoke inflation, saying policymakers have the tools to deal with any potential program. investors way faster u.s. growth and rising prices. yellen spoke ahead of the houseboat on the relief bill. china is bowing to accelerate legislation to counter u.s. sanctions, and the face of continuing american measures, what beijing calls long arm jurisdiction. the national people's congress will move on to discussing china's latest work reports,; the five-year plan, and moves to revive the electoral system in hong kong. protesters in myanmar defined a curfew monday night despite the monetary's increasing response. that u.n. and several western governments call for security forces to free a group of protesters. unrest continued across the country despite the army morning of gel terms of up to 20 years, shutting down media outlets underlined the right to work. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloo

janet yellen said checks will be in the mail this weekend.have to understand the impulse of that, what it means in terms of growth and spending and why not invest in stocks if everyone boko with their money -- if everyone will have their money. jonathan: let's talk with emily wilkins. emily, let's talk about the president's address. who is in control here? emily: the federal government has been talking with vaccine companies and pharmaceuticals about making sure we can get vaccines out, that the u.s. will have enough vaccines for all adults. to a certain extent, the shots in arms but happens on the state and local level. president biden can only do so much in encouraging americans. it is more the local officials that say what size groups people are allowed to gather in. lisa: -- jonathan: was this the president trying to regain control of the narrative? emily: president biden is the president of the u.s. and the u.s. is still in the pandemic. this is was a way for president biden to kick off what will be a victory lap for him, his advisors, v

the threat of higher taxings treasury secretary janet yellen keeping a wealth tax on the table. after defending 1.9 trillion relief package and down playing these inflation threats. let's fake a look at market this is morning futures right now are pointing to a higher open dow up in the premarket nasdaq up 51, s&p up 12 and a quarter. last week, what a week the dow and the s&p 500 finished in record territory boosted by reopening optimism. the nasdaq finishing up for the week ending three-week streak of losses. european markets well, let's take a look right now because they're in the green own still are the 40 and dax all fractionally higher, and to asia overnight, we have a mixed story there taking a look at those indices right now shanghai capacity losing ground up franksally as well. "mornings with maria" is live right now. ♪ ♪ and some of the top stories we're waving or yo this morning. ptd biden is reportedly looking to implement the first major federal tax hike since 1993. he says going to help pay for his next long-term economic program that's according to bloomberg, trea

janet yellen saying stimulus checks will be deposited in bank accounts by this weekend. president biden marked the one year since the nation shut down due to coronavirus. pres. biden: i need you, the american people, i need you, i need every american to do their part. here is the truth, the only way to get our lives back, to get her economy back on track is to beat the virus. all adult americans will be eligible to get a vaccine no later than may 1. we will not only meet the goal, we will beat the goal, and using every power i have as president to put us on a war footing to get the job done. i need you. i need you to get vaccinated when it is you're turn and you find an opportunity. if we do not stay vigilant and conditions change, we may have to reinstate restrictions to get back on track. we do not want to do that. if we do this, if we do our part, if we do this together, by july 4 there is a good chance we mark our independence as a nation and begin to mark our independence from this virus. we have made so much progress. this is not the time to let up. this country ca

services along with these other television providers, getting you a front row seat to democracy. . >> janet yellen and jerome powell testified before the house financial committee. this was their first tearing together as joint witnesses following secretary ellen's -- yellen's confirmation back in january. it run

of the financial services committee of the louse at which jerome powell and treasury secretary janet yellen testified about the economy and more on the economic recovery. yellen saying the u.s. could potential reach full employment by next year, though in the last sans, she was talking about how much larger the actual unemployment rate -- she said it was probably near 9%, when you include individuals who have dropped out of the labor force many of them women who have go -- worked in service jobs that haven't come back or are attending to family matters, but possibly full employment by next year chair powell of the federal reserve emphasized he has the tools to deal with too high inflation. stocks near lows of the session. meanwhile, ten-year continuing to retreat from highs. steve liesman has been listening in fed chair saying he does not seem a long-term inflationary threat he stuck closely that any future inflationary increase will be temporary. >> we're strongly committed to our price stability man dade, which is along with our maximum employment man dade, those are the two that you have

treasury secretary janet yellen was asked over the weekend about the idea of a wealth tax.t proposed a wealth tax but added something the white house has not made a decision on just yet. this is the idea of senators elizabeth warren, bernie sanders, other progressive democrats, to tax wealth over $50 million by 2% and wealth over a billion dollars by 3%. white house press secretary jen psaki was asked about the wealth tax and the idea of it just a little while ago. there was her response, watch. >> there is a shared view that those at the top are not doing their part. obviously that corporations could be paying higher taxes. that continues to be consistent with what the president talked awe bought. when it is the appropriate time i'm sure they will discuss, he will discuss with others how to address this moving forward. reporter: as for treasury secretary janet yellen, she is working on a global minimum tax for multinational corporations. bottom line, charles, when you talk about a potential infrastructure package coming down the line the last few days, there has been talks

now you know well i mean janet yellen is repeating that the bigger the better also when it comes to the aid package that might land on joe biden staffs him within this week the one concern clearly is that was all the money that's getting spent that the debt load is going to increase quite a bit and the other topic is some inflation you also see the inflation. scare result the money putting down on the table is also spoke in the stock market at least when it comes to technology shares the nasdaq composite down another good show 2 percent on the monday session on the other side was all the reopening that slowly taking place at the dow jones industrial average at some point to today well a buffer 32000 points even if we couldn't hold that mark when the market close to that is what janet yellen at least it believes that it's definitely worse taking all the debt now to spur economic growth and that this grows and eventually will pay off for the huge and that a lot of that's really going to be the case and if all the money is going to be well spent is also another development that we will fol

reporter: that was janet yellen speaking with another powerful woman.eanwhile in france, more signs of economic recovery. according to forecasts by the central bank, gdp in the first three months of 2021 is expected to grow slightly from the previous quarter, although the level of economic activity is 5% low pre-pandemic levels. the bank to france -- banq de france says if this continues, the country could achieve annual growth of 4% after shrieking about 8% in 2020. let's look at what is happening in the markets. wall street finished trading on a mixed note this monday, on the passing of the stimulus bill in the senate. it lifted sentiment in general but it pushed up u.s. bond yields. you can see the dow jones and edging to stay in positive territory by about 1%. oil prices dropped after rising to a post pandemic hi. brent crude earlier went above 70 dollars for the first time in 40 months. this came after an attack in saudi arabia oil facilities over the meeting. the opec meeting decided to keep production cuts. deliveroo kicked off an ipo in london i

janet yellen is committed to getting the money out as quickly as possible.ained by cnbc, she called the effort a huge responsibility if we do our jobs right, we accelerate the recovery. this is not about the checks treasury is dealing with the expanded child tax credit and tax-free unemployment insurance and student loan relief is not taxed. frank, we are in the middle of the tax filing season. treasury is urging people to get returns in early and do it online >> please stay with us we are just getting started. the rollout of the $1.9 trillion stimulus packages hiking the deficit further and raising questions on how to pay for it all and the financial feasibility of the biden agenda. speaking yesterday, janet yellen was pressed if the biden administration is weighing a health tax to address the ballooning debt. >> president biden has put forward a number of proposals. he hasn't proposed a wealth tax, but he has proposed the corporations and wealthy individuals should pay more in order to meet the needs of the economy and the spending we need to do. over time

janet yellen dismissing this is too big, aiming to push the recovery into the labor market, addressing the unequal recovery that has affected so many women and minorities pit on international women's day we are set to discuss this very issue another issues surrounding inequality and diversity with the former xerox ceo ursula vence. before we get to that topic, we need to talk about the selloff in tech stocks without a correction joe:. joe:continuing to accelerate. that is been the story of the last two or three weeks. we had these days where it looks like it will not happen -- where he will be fine or a bounce, but there it close to all-time highs. the nasdaq 100 down almost 3%. i think it is worth noting, even with the bad run over the last five years according to the bloomberg, total returns for that etf, 545% versus 200% for the qqq q. it is a huge league. nonetheless join us with more, cross asset reporter katie greifeld. when will the dip buyers emerge in tech? katie: i don't know. they were nowhere to be found today pet i love the stack on the dollar and the nasdaq 100. at one po

jay powell and janet yellen are appearing before the senate banking committee. we talked about the range of issues they will be addressing. there are other issues come up bitcoin among them, that could come up. also, the discussion of their collaboration. the head of the treasury, the head of the federal reserve, seemingly interchangeable in some ways. how do they work together in a new way going forward? then u.s. crude inventories. the suez canal issues, yes, it seems to be transitory, but it is some of the inventory data we will be looking for. the u.s. is selling five-year notes. we are getting towards the more interesting securities. perhaps we will get some indication of what longer-term treasury demand looks like both here and abroad. jonathan: looking forward to the supply a little bit later. the seven-year issue will get our attention tomorrow, i'm sure. let's turn to mona mahajan, i leonce -- mona mahajan, allianz global investors u.s. investment strategist. i am trying to understand how you approach a market like this right now. you drip since the end

we will be looking out for janet yellen and jason powell facing congress.n asia, what messages come from the gmm this morning? mark: i think as we look at the gmm, there is a main takeaway which you can see in the sovereign bonds column, yields are lower across the board and this has been the main pressure point from markets. we are seeing yields lower which should be a good sign for markets. there are a few videos syncretic story. the turkish markets already had a circuit breaker upon the open. the lira down 5.4% today. in u.s. dollar terms, it is down 22%. the other two idiosyncratic stories are the weakness in chinese stocks, but they closed above the critical 5000 level yet again. that is very important. the last one is to watch the weakness in the aussie dollar. anna: we will keep and i on those. there is certainly something sluggish about the futures, looking a bit weak. you mentioned some of the relief markets are committing from sovereign bond markets where yields are following. do we think -- falling. do we think that is the new direction of travel

i haven't. >>> welcome back we are moments away from jay yellen and janet yellen, the q and a portiontimony right now. we're going to take you there live as it happens in the next couple minutes first, let's bring in the former federal reserve governor thank you for being with us this morning. welcome. >> great to be with you. >> so fed chair powell has been pretty -- he's held pretty steady in recent days, recent weeks on this idea that we're seeing this economic recovery take root and perhaps faster than expected but there's a long way to go. and that while inflation might be picking up a little bit, he doesn't see it as a longer-term lasting situation. it's been interesting because we've had some fed officials former fed officials on in recent days who have been a little more skeptical about that outlook. how do you see it? >> i think he's trying to take the optimistic approach that yes, there will be a surge in consumption. we've had this enormous fiscal expenditure coming but we can deal with that because it's just temporary. that's possible. i mean, i don't think that's an unrea

to get focused on the stuff so i feel like the benefit for the for the world is that you have janet yellen sitting in the us treasury i couldn't have picked a better person unclear to me that anybody about caliber is a vice in the british government i think it's really in court. first there are understand this new world order people in place understand it not go back to people who basically failed in the past and i'm going to try and use those things we need a new creative thinking focused on particularly people at the low end especially the people at the low end who are being impacted the most are the and so i think that and i think that included concerns we're probably going to see to be really important so slow recovery the question is are politicians going to be on the right side of the wrong side professor david blanchflower with the economic wisdom game from walking about on the internet thank you once again for joining me on the alex salmon show excellent always good to talk to us just over a decade ago professor danny blanch for provided me with invaluable advice as far as the scot

janet yellen is 74. steve mnuchin was 58.ly, a 74-year-old person is one of the categories that's most at risk for covid, we get that. and we also know that, to be fair, people do work from home. i am working from home communicating with you, you know, doing my hit here. that said, when i asked the trump people, former trump administration officials, you know, what was it like when you were there, the onus was to come in the office, they tell me. but not only that, when it was crunch time, when you had to get the bills through, you had to do something really important like covid relief imagines -- packages, it was all hands on deck in the office, and this is a divergence from that. now, again, we spoke with some people close to yellen. they said she was part of the package. they did not deny that she wasn't on the hill, that she didn't show up, they just said she was part of the overall putting together of the package, played a key role, and they also made this comment to us. at the end of the day, we got the deal done. as yo

david: welcome back everybody we've been telling you how treasury secretary janet yellen is looking globally the u.s. just as the biden administration looking to hike corporate and personal taxes to pay for big-ticket spending projects. edward lawrence is in d.c. with a breakdown of what it means for your money. >> the global average corporate tax rate is 24% according to the tax foundation. right now the u.s. is under that only 19 countries in the world are lower that's been a big driver to move companies back into the u.s. the u.s. chamber of commerce opposed as ever by the biden administration to raise the corporate tax rate or any income tax for that matter as we emerge from one of the deepest recessions since a great depression. >> you don't need to look any further than a hospitality, the aviation to see very clear examples of industries that are still hurting. a tax hike is not what we need to make sure those remain growing concerns provide jobs. >> the chamber says raising taxes could derail the economic recovery that hurts shareholders and affects companies to pay workers and slowdo