later don't miss the interview with the treasury secretary janet yellen on the priorities the dow is just positive about 58 points. lost a little steam here s&p up 4 you're watchinging "closing bell" on cnbc. (vo) verizon is going ultra! and so is manny! event planning with our best business unlimited plan ever! with 5g ultra wideband now in many more cities and up to 10 times the speed at no extra cost, the downloads are flying fast! verizon is going ultra, so your business can too. well, would you look at that? jerry, you gotta see this. seen it. trust me, after 15 walks... gets a little old. i really should be retired by now. wish i'd invested when i had the chance... to the moon! ugh. unbelievable. ♪ music ♪ there's software. and then there's industrial grade software. capable of optimizing your flight by turning data into your co-pilot. meet honeywell forge. analytical software that helps assembly lines build walls against cyber threats. and makes sure you're ready for game day every day. that's honeywell forge. industrial grade software ♪ music ♪ >>> 45 minutes left of trading

the last time it lifted off when it janet yellen was chair, janet yellen, longtime democrat and very much interested in an inclusive economy, was 2015. at that point, the unemployment rate was above 5%, it was 5% in december and 5.1% the month before, the date they were looking at. it is 3.9% now. it may be lower in february. or about the same. they are already running the economy a lot tighter, the labor market a lot higher -- tighter than the last time. taylor: you are echoing comments from recruiter at black wrought -- from rick at blackrock. this is raising a lot of questions in the next couple of months. how important is this when you thinking about inflation and the impacts you talked about on real wages, which are negative? steve: the outlook on inflation is very confused. what is happening to the labor market is pretty clear. it is hot, people are getting big wage gains, particularly at the lower end of the spectrum, and lots of jobs are unfilled. the reasons for the inflation gains are a little confusing and i think that is the thing the fed is really going to look at in ter

american cities, and exemplary of a life devoted to public service, secretary of the treasury, janet yellenlause] secretary yellen: thank you, mayor suarez, and thank you all for welcoming me. more than that, thank you all for your tireless work over the past two years. there have been few harder -- or more crucial -- jobs during this pandemic than being a mayor. local governments have been the first line of defense against this pandemic, and as much as anything else, it has been the work of the city that has kept our recovery on track. that's what i want to talk about today. almost exactly a year ago -- 364 days this morning, to be precise -- i was putting on a very large coat and getting ready to drive to the national mall to watch president-elect biden and vice president-elect harris take the oath of office. it was a historic day for the country, but one that played out against the backdrop of real jeopardy -- roughly 3900 americans would die of covid that day, and the next. more americans were applying for unemployment insurance than during the worst week of the great recession, and mil

were now extremely fortunate today to have our keynote speaker for discussion, the t honorable janet yellent of treasury secretary yellen has long and distinguished career in economics of public service and she is the only person who has served at the head of the white house national economic council under president bill clinton in the 15th chair of the federal reserve, nominated by president barack obama, and of course president biden secretary of treasury. as secretary of the treasury she has overseen a critical parts of president biden's american rescue plan including the 65.1 billion physical recovery fund for all cities and expansion of the children's tax credit resulting in a 35 - 40 percent drop in child poverty inan america over the course of 2021. she's also been instrumental in safeguarding the credit of the united states treasury, so central to our nations global leadership. mayors, please welcome a friend of america cities, and exemplar of a life devoted to public service, secretary of the treasury, janet yellen. ♪ ♪♪ ♪ ♪♪ [applause] >> thank you. thank you so much. thank you. t

treasury secretary janet yellen rebranding biden positioning economic agenda as mod are in supply-siden tax cuts deregulation seeks to increase labor supply, and improve things lining infrastructure education research joining me right now form council economic advisories chairman managing director lindsey group kevin, good to see you. thanks so much doing a great job at lindsey group give your assessment what you heard from janet yellen. >> right, you might recall monetary modern modern economics was floated by the democrats back when planning to seasoned billions and billions of trillion of dollars, and basic idea modern monetary economics government can just spend as much as it wants so it can print money now looking at really, really bad inflation the inflation reasons one spent lots of money two i think markets now think oh, kooks out there believe in modern monetary economics expectations no longer anchored to belief future policy is going to be smart janet yellen through gasoline on inflation fire at davos doubled down on, saying supply-side economics should be more than the conn

we hear from janet yellen speaking at the virtual devil's meeting. yesterday she was talking about her expectations for inflation remaining above 2%. if we are successful in controlling the pandemic she said i expect inflation to diminish and hopefully revert to normal levels around 2%. how much does this become the mainstream? it seems this is increasingly consensus, even as a number of investors pushback and say they are wrong and we are in a new inflationary environment. jonathan: cope is the key word in every -- hope is the key word and everything janet yellen said. bank of america getting my attention, january 2020, first covid-19 case, two years later, 6% of investors see covid as the biggest risk in the 12 months. the end of the pandemic equals the end of excess returns equals the end of excess asset return to the end of the next stimulus. bank of america just saying it is not ending. greg, we are trying to figure out the direction you run away from and when you buy paired what is the difference? -- by. buy. what is the difference? greg: the r

by extension, janet yellen. you have any confidence in jay powell? >> nope you -- no. he has not expressed any reservations about green spinning, bernanke, janet yellen policy about pushing rates down. rishaad: speaking exclusively with erik schatzker. looking at the nikkei 225, the benchmark in tokyo extending its drop to over 3%. that is where it is. we have premarket trading going on in india. seeing the nifty index following the regional pattern. it is down 1.2%. here is a look at some of the nikkei constituents. 2.6% down. we have the likes of softbank and various others on the topics heading to the downside. softbank 9% lower. missoni, 6.8%. there we go. that is a look at deep declines. broad-based declines in japan. haslinda: korea down more than 2%. we will hear from a ceo on the growth plan for ages biggest producer with commodities surging. keep it here with us. this is bloomberg. sophie: -- this is bloomberg. ♪ rishaad: heading toward the opening of the trading. looking at steep declines. the nifty index, one in quarter of 1% lower. looking at nifty banks fe

al sharpton, martin luther king the third, joyce beatty, and treasury secretary janet yellen. [applause] >ounder and president of the national action network

american cities, and exemplary of a life devoted to public service, secretary of the treasury, janet yellenlause] secretary yellen: thank you, mayor suarez, and thank you all for welcoming me. more than that, thank you all for your tireless work over the past two years. there have been few harder -- or more crucial -- jobs during this pandemic than being a mayor. local governments have been the first line of defense against this pandemic, and as much as anything else, it has been the work of the city that has kept our recovery on track. that's what i want to talk about today. almost exactly a year ago -- 364 days this morning, to be precise -- i was putting on a very large coat and getting ready to drive to the national mall to watch president-elect biden and vice president-elect harris take the oath of office. it was a historic day for the country, but one that played out against the backdrop of real jeopardy -- roughly 3900 americans would die of covid that day, and the next. more americans were applying for unemployment insurance than during the worst week of the great recession, and mil

. >>> and how treasury secretary janet yellen sees a path to slowing inflation, but is she right?s friday, january 21st, and this is "worldwide exchange. >> welcome or welcome back and good friday morning, everybody i'm brian sullivan, grab another cup of coffee, there's a lot going on right now let's jump into the your money and stock futures. we are not seeing the selling that took off late yesterday, at least not with the dow dow slightly higher. nasdaq, big tech runs the show we get that, nasdaq futures are down just a touch, a couple of tenths of 1% not a huge trend today one thing i want to note is that today is a big-time options day. there is a lot of options in stocks like tesla and the macro markets we'll get more with jon najarian in a few minutes. with this, what they call the gamma trade, a little complicated, but could see -- could not saying we will but could see a lot of volatility in today's session, just something to pay attention to. >>> also this, a big warning from a big-named investor. in a note to clients jeremy granthem says stocks are in what he calls a su

you know, i think janet yellen has been wonderful for me to work with. i like her so much. i've known her a long time. she's terrific. you know, the women in the white house, i have worked very closely with. so, i just think he has a really good team around him. >> you mentioned you're willing to talk to almost anyone at any point to advance the president's agenda. you're one of the cabinet secretaries who was engaged with lawmakers on the hill regularly around the bipartisan infrastructure bill and as the senate was working on that, senator collins described you to me as "a hidden player in the cabinet." and one official told many you're "fluent and republican." so, what do you do to build those relationships with republicans, especially many of whom have voted against or have blocked the majority of biden's agenda? secretary raimondo: yeah. that's very coming, by the way. talk to people. engage people. ask them to their vote. listen to their concerns. and recognize that they're valid. you know, i think that's so important. whether it's susan collins or roger wicker who is

then later janet yellen in dallas, switzerland.nnouncer: the annual march for life rally with speeches from republican representatives julian letlow of the and christopher smith of new jersey, plus granddaughter of the late reverend billy graham. this is one hour and a half. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2022] ♪

. >> treasury secretary janet yellen spoke about the u.s. economy and supply chain issues caused by the covid-19 pandemic at the world economic forum. klaus: we all know you are one of the most prominent and respected economists of your generation, but i learned and i should remind the audience, you are the first person actually to have led the council of economic advisors, the federal reserve, and now the treasury department. so if anyone is prepared for the task at hand, and what a difficult task, it is you, madam secretary. we are delighted that you can join us despite your heavy workload and, of course, we are looking now very much forward to your remarks. sec. yellen: well, thank you so much, klaus, for those kind words, and thanks to the world economic forum for hosting me. at this time of year, government officials, business executives, and thought leaders normally huddle in a small town in switzerland to share perspectives on how to address the world's biggest challenges. i hope to join you all in person in davos in the coming years.

. >> next, janet yellen during a session at the world economic forum. talked about growth in the u.s. economy, the administration's policy, and inflation and supply chain issues caused by the covid-19 pandemic.

it's carsten from an egg esteem, carsten from the bank of international settlements, or j pal, or janet yellen, or wherever they are a christine la guard like there's a universal keynesian. there is a universal can tell in class county on class. so this is within the parameters of what has come before and she's part of that class . but in terms of like what we have seen here, where on the beach, you'll see this all sorts of these action. you'll hear beach action, you'll hear some leg margarita, sort of mixes, blending happening in the background. and there are some waves and you'll hear some people surfing shouting in the background. but over in that theat world, max, we've had a huge sort of rupture is happening and, and movements happening in the bond market, the most important market in the world. and we saw one of the worst weeks in 506070 years happen. and on top of that, we saw in the news bill miller, one of the top, the 1000000000 our hedge fund managers in the world. so here's a quo, and this is from bitcoin magazine tweeted out this link to a interview that bill miller, who is consid

janet yellen thinks the fed will be able to wring down pressures.mers says it will be a tough ask. >> it is important to note professional forecasters think inflation will substantially abate next year. part of this view is likely driven by the expectation that the federal reserve will continue to account for these pressures as it fulfills its dual mandate. >> inflation is at rates of lower than 7%. i don't exit the system without substantial -- they don't exit of the system without substantial economic turbulence. no one is pulling harder for the fed to strike this balance and get it right than me but it is not going to be an easy one. paul: larry summers, the predecessor of -- a predisaster of janet yellen. let's bring in the head of joint aipac equity research. the fed meeting is on wednesday. you along with most other people consider march to be a live meeting. what happens after that? what is the path of fed cuts and how aggressive you think the balance sheet runoff is going to be? >> we are looking at four rate hikes this year. the first of th

being a battling sky high inflation, treasury secretary janet yellen, is now joining president joe biden and putting her support behind the federal reserve to solve the ongoing crisis. in a recent interview, yellen described a pandemic as presenting quote, economic challenges that none of us anticipated. while admitting that inflation rose by more than she had expected, however, she says it's, it is the pres responsibility to address it. and she believe that will do just that . well, inflation remains here, 40 year highs here in the us. the question becomes water. americans turning to as they're chosen that against it. well goal just hit a 2 month high, but it's not the only option on the block right now. and even with bitcoin seen losses this week. it's gains over the last year. have really put it in a league of its own. so where do we go from here and are the stock market losses? we've seen this week and indicator of what's to come with. joining us out of this got to better known as your rich b, f, f on tick tock and instagram. vivian, it's great to have you on the show today. now i kn

janet yellen things the fed will be able to bring down price pressures while one of her predecessors,arry summers, says it will be a tough task. >> it is important to note that professional forecasters think that inflation will substantially abate next year. part of this view is likely driven by the expectation that the federal reserve continue to account for these pressures as it fulfills its dual mandate. >> inflations at rates lower than 7% do not exit the system without very substantial economic turbulence. no one is pulling harder for the fed to strike this balance and get it right and me but i think it is not going to be an easy one. shery: the earnings season is also in full swing with results from heavyweights in tech, finance, and industrials all do in the next few days. intel, samsung and sk hynix. tsmc gave a rosy outlook next week. apple and microsoft. the latter said it is buying activision blizzard in a blockbuster deal. those are the major events in your week ahead. paul: let's bring in dave mazza, managing director and head of product direction at direxion. he said the

deputy attorney general kristen clark, treasury secretary janet yellen, martin luther king iii and andreap, c-spannow. announcer: the u.s. house gavels back in tuesday at noon for more work on the bill that would automatically enroll veterans into the v.a. health care system. members will consider local schools to use pre-pandemic data to calculate funding needs. the senate also gavels and at noon eastern tuesday. chuck schumer is setting plans to bring voting rights legislation to the floor. most to senate democrats and president biden are behind senator schumer's plan to change senate rules to allow the bill to pass with a simple majority, rather than 60 votes. senators joe manchin and kyrsten sinema oppose changes to the filibuster rules. so, there may not be a simple majority to pass the bill. watch the house live on c-span and the senate on c-span2. >> at least six presidents recorded conversations while in office. here many of those conversations on c-span's new podcast, "presidential recordings." >> season one, lyndon johnson. you will hear about the 1964 civil rights act, presiden

. >> treasury secretary janet yellen spoke about the u.s. economy and supply chain issues caused by the covid-19 pandemic at the world economic forum. klaus: we all know you are one of the most prominent and respected economists of your generation, but i learned and i should remind the audience, you are the first person actually to have led the council of economic advisors, the federal reserve, and now the treasury department. so if anyone is prepared for the task at hand, and what a difficult task, it is you, madam secretary. we are delighted that you can join us despite your hea

lisa: this goes to the idea, you are saying you do not believe in await spiral, neither does janet yellenu are also facing increasing inflation when it comes to rent prices, supply chain disruptions that signs point to going on for a longer time due to the omicron variant. how do you dovetail the idea that wages need to keep up with consumer price inflation but not get ahead of it and create a spiral. how close are we to the threshold of, i do not want to say stagflation, but something that looks more like a crimp on growth when it comes with higher consumer prices. gregory: i do not think we are in a stagflation environment, which would be no growth and low growth and high inflation. we are seeing inflation dynamics, i've use the term -- will be an environment in 2022 where that will be moderating. there will be much less fiscal impulse. the federal tight monetary policy. that will have a negative impact on demand. it is more likely than not we will see inflation back down. the question is how fast and what level. i do not see the u.s. economy settling into a higher inflation regime. we

if it did not ignite inflation remember secretary of treasury janet yellen said we need to go big inhe fed would be able to stop that right away. now we're looking at inflation not like anything that we've seen since the early 1980s or late 1970s. the spending power the everybody in washington is watching go down and down and affecting ordinary americans real wages over the last 12 month have dropped over 3% that is because inflation is going up and wages are going up as a direct result of biden's policies. the stuff that they are doing makes no sense. a sign of how bad it is the secretary of treasury yellen yesterday gave a speech about modern supply-side economics. modern supply-side economics. and then somehow climate change is going to fix everything. it made absolutely no sense. david: by the way your focus on that bothered the staff of larry kudlow tremendously. he was so infuriated when you told him about that he devoted his entire show to the subject. the president has also been blaming producers, oil producers and be producers, et cetera for inflation. his solution to that i

so in a letter to janet yellen, the a.g. writes "shouldn't surprise anyone that the u.s.g to overstep its constitutional bounds and dictate arizona how our state should run and fund our schools. arizona republican governor doug doocy joins me now with more. what is the next move with arizona and the federal government on this fight? >> good to see you, martha. thanks for having me. arizona is going to file a lawsuit against the biden administration, against this federal overreach and continued bullying and attacks on our state. we are going to use the dollars that congress has appropriated to catch our kids up in school. we want the dollars to go to the families that need to get their child inside a classroom, that is functioning, with the teacher in front. joe biden needs to focus on the border or helping ukraine or fixing afghanistan. why doesn't he stay in his federal lane and let us educate the children and the state of arizona? >> martha: you know what i find fascinating about this, governor and i know you want those dollars to be portable so parents can say this sch

king, junior in washington with deputy attorney general kristin clark, the treasury secretary janet yellenmartin luther king iii, and henry a waters king. watch tonight on c-span, c-span.org or for full coverage, go to our new mobile app, c-span now. announcer: u.s. house gavels back in on tuesday for more work on a bill that would automatically enroll eligible veterans into the v.a. health system. they will also consider a measure to allow local schools to use prepend to make data to calculate funding needs. the senate will also gavel in on tuesday. the majority leader chuck schumer said he plans to bring voting rights legislation to the floor. democrats and president biden are behind his plan to change senate rules to allow the voting bill to pass with a simple

treasury secretary janet yellen really shreds on the half-pipe. ( laughter ) it's not the only snag on the olympics. there seems to be some mixed signals on the subject of athletes mixing, because beijing olympics organizers are making condoms available, but athletes are instructed to minimize physical interactions such as hugs, high-fives, and handshakes. wait, they're giving out condoms but saying you can't high-five? come on! that's the best part of having sex! you know, great job! team work! what are athletes supposed to do what are they supposed to do? >> jon: i don't know. what are they supposed to do afterwards, lay there not high-fiving? a fist bump is so impersonal, and thumb wrestling just takes too long. it's not exactly clear when athletes will get this protection, though. organizers said, "all olympic-related units will provide appropriate quantities of condoms for free at the appropriate time." first of all, let's acknowledge that "olympic-related unit" is a pretty great euphemism for penis. ( laughter ) secondly, condoms will be provided "at the appropriate time"? who de

treasury secretary janet yellen, speaking at a davos confab.he said yesterday she expects inflation for much of the year to remain above 2%, but if we are successful in controlling the pandemic, "i expect inflation to revert to normal levels by the end of the year around 2%." how much does that and that being the story, the people look to the new normal of 11 inflation kind of environment? jonathan: lisa, thank you. we can talk about this bond market with subadra rajappa, the head of u.s. rates strategy at socgen. you published last night. "the fed is likely to push back on market pricing of more than four fed hikes in 2022 as it prepares for massive balance runoffs -- massive balance sheet runoffs." how much are you looking for? subadra: they are looking at $100 billion for month and a total of $1 trillion within a year or so, so i think $1 trillion by the end of 2023 is definitely doable. that is a pretty rapid pace with a lot of moving parts they have to deal with. they own bills now. they did not own bills back then. there's a lot of detail

want to go down as the guy who, you know, undid 30 years of paul volker and alan greenspan and janet yellen'sard work. he has it set up to be more hawkish and that's one of the reasons i'm coming in a little more pessimistic and i'm usually the most optimistic. >> yes you are seeing we only see about half as much upside as normal. where does this leave you on rates and bond yields? >> i'm leaning to the idea that the fed is not going to like it if they start tightening and the ten-year note yield does not go up, we get some sort of conundrum and they could play with the balance sheet a little more i think we could have the shortened not being as aggressively sold off as potentially the long end, and that has a lot of implications for your viewers who key long-dated cash flows for growth stocks off of long-term bond yields so i would be a little less constructive on the long end than i have in the past. i don't think it is a run away i'm certainly not in the jamie dimon 5% camp. i don't know if he is still there. he was there many years ago, but he sounded quite hawkish recently but i think th

congresswoman beatty and richmond of the afl-cio as well as we will be hearing from treasury secretary janet yellenw afternoon at the house of justice of national action network. senator schumer and others will be there. and we will have my book there. "righteous troublemakers." it cannot be a movement without the unsung heroes i write about. get your copy of the book. make that a king day gift to somebody. we'll be right back. gift to somebody we'll be right back. 's on the se and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee. yeah i should've just led with that. with at&t business. you can pick the best plan for each employee and get the best deals on every smart phone. thanks for bringing me with you guys today, mr. and mrs. lopez. not a problem, josh. hey, you two. check out all these camera views in my silverado i can see in front of me, behind me, on either side of me. and it has this cam, so i can see if there's any funny business going on. you see any funny business goin

joyce beatty, and treasury secretary janet yellen. >> it is my honor to now introduce the founder and president of the national action network, reverend al sharpton. [applause] >> martin luther king day holiday, day of recognition national holiday, take on special meaning to national action network. i started my activism when i was 13 years old, formally started my activism as the youth director of new york chapter operation breadbasket founded by dr. king. i took that position the year he was killed. his organization prompt its inception served in our incorporation papers that we would build on the principles of dr. martin luther king dr. martin luther king. so this is not a holiday that is something imposed upon the calendar. it is something we fought for. we didn't fight for it to be a day off. we fought for it to be a day on. working under principles and realization of what dr. king stood for. no time in my memory is more important than today as we battle around voting rights, police reform, economic equality. there couldn't be a time more pregnant with the possibilities of seeing

if jay powell takes the janet yellen approach to tightening, that could play out over years not months as most investors seem to expect what she is saying is what i was saying at the top, you can't think that everything is going to collapse. again, i want you to go to the history. in 2011, the tlt rallied from 90 to 124 this is before this. but with the help of easing and even with the taper right now, the fed is still buying treasuries through march i think powell doesn't want to get as -- as the wall street is thinking and he's being more measured with his rate hikes and no one is thinking that. how about the stock market take a look at this monthly chart of the s&p 500 over the last couple of decades in the short run, the s&p still looks like it has room to move lower. so that is that little break right there. she thinks that will happen. but once we work out some of the fraugh froth, she thinks there is still so much liquidity in the system. when the fed started raising rates in late 2015 we caught some early volatility but the s&p resumed the long march higher because we've seen t

and a quick programming note treasury secretary and former fed chair janet yellen will join "closingell" for an exclusive interview today at 4:00 p.m. eastern. >>> my next guest says if growth stocks could turn in good earnings, they could still barry, welcome your thoughts on the risks around this fed tightening >> well, i see two things. in chinese mythology there's a dragon called hung, the rainbow dragon it's got two heads one is covid for us. the other is the federal reserve. the covid head is going back to sleep even though our company had to cancel a 50-year anniversary trip because of covid. it is going to go back to sleep. it's the other one, it's the federal reserve. and we just look at that, you know, the trade reporting that you just had at the beginning of the year it went from an expectation of three hikes to four hikes. and what has the stock market done since it's gone down next week we get the information from the federal reserve of what they're really thinking. and fed chairman powell is very good at communication. so i don't think there's going to be much of a surp

janet yellen views biden policies as supply side economics. are you sure?rolled world statist conference today.

first-ever native american to hold a cabinet position, she has the important jobs of managing the, and janet yellen, the secretary of treasury holds a position that only men have been appointed to to more than two centuries. that stands in stark contrast to donald trump's cabinet and administration, which were nearly all white and nearly all men, and trump brought that very white and very male philosophy to the courts. five thirty-eight published a headline, it will be tough for biden to reverse trump's legacy of a whiter, more conservative judiciary. during trump's tenure in office, about 84% of the federal judges that he appointed were white. despite what five thirty-eight predicted, president biden is trying to remedy what trump did to the federal courts. during his first years in office, a total of 32 have been confirmed. 33 of them have been women. 29 identify as black, asian, hispanic or multi-racial. among that group are beth robinson, the first lbgtq woman to serve on a federal court, and the first muslim american in country's history to serve as a federal judge. this is worth pointing out.

by extension, janet yellen, too. do you have confidence in jay powell? >> no.ny reservations about greenspan, bernanke, yellen, policy of pushing rates down. >> cofounder jeremy grantham speaking exclusively with bloomberg's editor-at-large. let's check in on commodities. oil the big one. really seeing brent breakthrough $90 a barrel. now hovering just below. oil trading near a 70 year high expectations of global demand picking up and stockpiles dropping. the u.s. stockpiles falling again this week. the lowest at this time of year for almost a decade. pretty much everything rallying. nickel certaiis higher than -- a little more than 2%. a part of the rally, the commodity spot index tracking 23. including energy, metals, and crop futures. fresh record as concerns over inflation continues. shery: take a look at how lg's energy is doing. paring back from earlier gains. pretty impressive, given the kospi down more than 1% at the moment. plenty more ahead. this is bloomberg. >> the kospi up, samsung after missing the fourth quarter expectations on profits. lg energy

then later janet yellen in dallas, switzerland. announcer: the annual march for life rally with speeches from republican representatives julian letlow of the and christopher smith of new jersey, plus granddaughter of the late reverend billy graham. this is one hour and a half. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2022] ♪ >> i would like to give a very warm welcome back to the march for life. i am blessed and honored to be the president of the march for life, and i want you to say on behalf of our board and staff and whole team welcome back. welcome to the 49th annual march for life, the largest human rights demonstration in the world. [applause] we are going to begin our program with the pledge of allegiance. welcome five-time grammy nominee and american music award winner matthew west to virtually lead us in the national anthem. >> indivisible, with liberty and i pledge allegiance t

. ♪ >> next, janet yellen during a session at the world economic forum.alked about growth in the u.s. economy, the administration's policy, and inflation and supply chain issues caused by the pandemic. klaus: we all know you are one of the most prominent and respected economists of your generation, but i learned and i should remind the audience, you are the first person actually to have led the council of economic advisors, the federal reserve, and now the treasury department. so if anyone is prepared for the

and so, the fed and janet yellen now have to basically sound very tough on inflation you can see theomy. what do we know with certainty for the year we are not going to get anymore fiscal stimulus and going to get monetary drag. i don't think they will have -- i think what stops the fed is going to be the economy. they boxed themselves into a rate hike in march because of inflation caused by a global supply curve and stuck now because they have been so hawkish past couple of months but the economy will dictate what the fed will do maybe they raise in march to show some flex of muscles. but i'd be surprised if they actually do mump more than that. the economy is clearly rolling over i don't think there's enough appreciation of how intense the fiscal and monetary stimulus was last year. combined it contributed 5% to gdp growth nobody talks about that. that's a policy vacuum for the coming year. what will compensate for the lack of policy stimulus? you see we have only known through the pandemic how the market and the economy can thrive as we have rampant fiscal and monetary stimulus an

assets like crypto it is interesting with a clear vision on that we haven't seen more regulation or janet yellens him if he is right - >> look at that china. >> there will be a big ger clam down as he sort of indicated. >> agree but i do think china is a example because china did basically eliminate bitcoin mining from the country and as he said every government wants to control their own currency. i think that's an interesting con conflict and clash if bitcoin is too big to do that and seeing a crackdown. doesn't seem like a systemic threat for the fed or the treasury at this point but you know they're watching it and keeping a close eye to make sure it doesn't become that. >> great interview more online. cnbc.com to check out. >>> we have a market flash on gamestop hi, julia. >> hi. gamestop shares higher on a report by dow jones with the nft and cryptocurrency plan. "the wall street journal report"ing that gamestop hired 20 people to build the unit. the report also saying that gamestop is close to signing partnerships with two crypto companies to share technology and co-invest in the business

and speaking of inflation pressures, we have from the treasury secretary janet yellen and one of her previous speeches where prices are headed. >> it is important to note professional forecasters think tthat inflation will substantially debate next year. this view is likely driven by the expectation that the federal reserve will continue to account for these pressures as it fulfills it's dual mandate. >> inflations at rates lower than 7% don't exit the system without very substantial economic turbulence. so, no one's pulling harder for the fed to strike this balance and get it right than me, but i think it is not going to be an easy one. rishaad: the federal reserve moves in one direction. the chinese are moving in another. shoring up liquidity, the pboc coming out and cutting its 14 day reverse, was 2.35%. we have got it now to 2.25%, a reduction of 10 basis points. what is this all about, keeping liquidity stable ahead of the lunar new year holiday. and it comes against the backdrop last week where we saw several key measures including the loans buying rate being cut, enough to sen

at the same time, you have to remember in 2018, this stock was at 60 before janet yellen took a lookdoing is getting back to where it was in 2018. the rest of the banking have stored. >> by the way, speaking of all this, it is the same old story this morning, financials and energy they say it's going to be a good year for card issuers relative to the s&p. >> i think it is i think that was a spend call, that 13e7bding will be up this year i think that's a good call the stock has had a decent run the fintechs themselves, we saw paypal -- i think we ran a headline that said paypal discussing whether it might even do crypto. i mean -- stable coin. you can't put that out either you're going to do that our not. they were strong on thursday, weak on friday they are a nightmare oh, look at that. >> nvidia has given up another 4% today, gjim. we've been talking about cloud, software, semis, relative to that, have held up, as far as the fundamentals go. >> nvidia, david, you know nvidia has still not declared that the arm deal is over, but they had a great present tuesday, completely ignored b