why is janet yellen optimistic? >> i think with janet yellen, there is recent economic data -- you said the jobless claims are showing an improvement to resiliency and the economy. you saw upbeat data on home construction earlier this week suggesting homebuilding could contribute positively to gdp growth in the second quarter. we got strong retail sales recently. it also just that with everything going on in the u.s. economy and banking jitters, ultimately there is still a fair bit of resilience. janet yellen is saying that she is seeing the risk for recession going down. i will say though that she also said she sees some cooling in consumer spending which will have to happen this year and hinted at persisting fears a recession -- persisting fears of a recession being dealt with by the fed. bloomberg economics continues to see a recession possible though probably later than expected. host: i have heard a lot of arguments about trying to hang onto the recessionary call. we also have the powell testimony yesterday. he

janet yellen says risk of u.s. recession are easing because of the job market and cooling inflation. she says there probably needs to be a slowdown in consumer spending to get inflation completely under control let's bring in mark haefele from ubs. mark, great to see you. >> thank you >> agree with janet yellen odds of u.s. recession are lower. how does that shape your view of the second half of the year for markets? >> well, there's no question that the consumer has remained much stronger than many people anticipated over the course of the year that will persist into the second half. they have done so through a variety of things. you know, work from home has put extra cash in people's pockets that they are spending they have gone out on credit cards. we are seeing personal bankruptcies and dle delinquencs rising play for a 5% upside in the stock or bond side we tilt to the bond side as we see todayin europe, you see surprises in inflation and central bank response and not that strong economic growth. >> i think a

this was - janet yellen. once politicians, once lawmakers _ janet yellen.er, but having that and day, that is how you are able to get the votes, that is how senator mcconnell was able to make sure he got the lindsey graham on board. to not draw this out for days. we have a june the 5th hard deadline. there was a slight fear that at least in the senate there could be a chance the amendment which would have done at the process... would have done at the process. . ._ process... there was 11 minutes, _ process... there was 11 minutes, i _ process... there was 11 minutes, i believe, - process... there was 11 minutes, i believe, but process... there was 11 - minutes, i believe, but they just moved through it quicker than expected.— just moved through it quicker than expected. bryan lanza, i want to circle _ than expected. bryan lanza, i want to circle back _ than expected. bryan lanza, i want to circle back to - than expected. bryan lanza, i want to circle back to you, - than expected. bryan lanza, i| want to circle back to you, and we have a few more minutes her

. >>> welcome back we are watching a developing story related to china janet yellen is traveling to china in the coming weeks. this would be the first meeting with yellen and her counterpart. eunice yoon is joining us from beijing. eunice, good morning what do we know about the possible agenda for the meeting? >> reporter: frank, based on previous state media reports about a possible yellen visit, we know that trade and closer economic cooperation would dominate the discussions from the chinese perspective. the foreign ministry today declined to comment and confirm any yellen trip. there are reports emerging she could be here as early as next week if that comes to fruition, secretary yellen would likely meet her new chinese counterpart. he is a close confidant of xi jinping and vice premier in charge of economic affairs in terms of what she has expressed before, she, like secretary of state blinken, said she would be interested in improving communication with chinese officials and therefor ctherefore, coming to china. the chinese would welcome her. the comments made to congress which has

earlier today, i spoke with treasury secretary janet yellen about the presence economic strategy in ancretary yellen, good to see you again, thanks for joining me. >> my pleasure, thanks, stephanie. >> president biden is out there today talking about bidenomics. and all of the economic winds, and there are many but the one thing that is holding the american people back from feeling it is inflation. it's obviously getting lower, that's a good thing, but it is still really high. and with the labor market as strong as it is, what do you see as the catalyst to really get inflation down? >> well, inflation was fed by supply chain bottlenecks from the pandemic and from putin's brutal war in ukraine. and the impact of those forces is declining gas prices have come down $1.40 off their highs. that's important to americans. actually, inflation year over year has come down for 11 months in a row and is now down by about 5%. granted, it remains too high. and the labor market is strong, but in part, we're seeing a strong job market is attracting more people into it. so, some easing is coming from

sources telling bloomberg janet yellen is expecting to visit beijing in july. it comes with an executive order aimed at regulating certain u.s. investments in china close to completion. let's get to vonnie quinn. what to we know about this meeting? for a long while was on pause. vonnie: it comes on the heels of antony blinken's visit last week and treasury secretary yellen had shared a stage in paris with her new counterpart. just in april. these meetings are gaining steam. there was a little bit of a delay. the chinese spy balloon incident did not help and escalating tensions about taiwan and russia and ukraine. so many things had delayed this revamp of u.s. china relations but it does seem the self diplomacy element is ramping up. we are expecting at some point president biden will meet president xi jinping in the near future that will be their first meeting since the and asia in november 2022. what we know for now is in early july the treasury secretary will meet her counterpart as the primary person responsible for economic policy. the timing is interesting

stay with us. ♪ maria: treasury secretary janet yellen announcing her plans to visit china soon, to quoteeestablish contact and find economic common ground between the united states and china. fox business edward lawrence is live at the white house this morning with more, edward, good morning. >> treasury secretary janet yellen said she hopes she gets to go to china look looking at possibly early july date for that, as you said, to reestablish contact says wants to find areas of cooperation with the chinese use relationship as one of competition, she refuses to say china is adversary, regardless of nefarious actionsaround globe and u.s. says she wants to discuss agreements of no misunstandings her counterpart in china changed to a confidant of chinese president xi the deputy treasury secretary summed up feelings about china in interview with me this month, listen. >> i am not concerned about china's activities there because ultimately we have a destiny making investments in the united states exactly what president has done day when you look at china economy it is weakened still dealing wi

china relationship as janet yellen prepares to head to beijing. welcome to the program. >> nice to be here david. >> let's start with the situation in russia in the wake of the war of unique is the events of the last few days affected your assessment of russia's internal stability and vladimir putin's chances of remaining in power? >> maybe i should start with some personal association. i actually first met putin i believe in 1992 when i was working with secretary baker. putin was the deputy mayor. then i worked with him on various occasions and in 2010 we actually hosted a summit in st. petersburg to try to save the 3500 tigers left in the world. i've had a fair amount of exposure to putin and i guess number one he's a coldhearted man. but one other perspective he shares with xi jinping actually is this is a man whose world was turned upside down with the end of this is he soviet union. i think one should be over that he's not going to go down again without a pretty strong fight. the other aspect was one with i was with them anything peter berg i

earlier today i spoke with treasury secretary janet yellen about the presidents economic strategy in hank you for joining me. >> my pleasure. thanks, stephanie. >> president biden is out there today talking about bidenomics and all of the economic winds and there are many. but the one thing that is holding the american people back from feeling it is inflation. it's getting lawyer lower, that's a good thing, but it still really high and with the labor market is strong as it is, what do you see is a catalyst to really get inflation down? >> inflation by supply chain from the pandemic and through putin's brutal war in the ukraine and the impact of those forces is declining. gas prices have come down $1.40 off the highs. that's important to americans. actually inflation year for year has come down from 11 for 11 months in a row and is now down by about 5% it remains to high and the labor market is strong but we are in part we are seeing attracting more people into it so some easing is coming from the fishermen participation in the labor market headline growth in the economy has slowed. th

treasury secretary janet yellen says a strong jobs market won't stand in the way of the price pressure> i see bringing down inflation with a strong labor market i think the data we have seen over last year and recently shows we are on the path >>> wizz air posting a net loss, but shares gain after the forecast a return to profit in 2024 the ceo telling cnbc the industry must adapt to weather future crises. >> we are really making our business model resilient and operating more resilient i think that is a change >>> uk prime minister rishi sunak prepares to meet with president biden at the white house to partickickoff a two-dap to washington to shrug off the trade tensions between the two sides. >>> welcome to "street signs." markets are focusing on central bank action the last 24 hours. we had a surprise hike from the bank of canada hiking to a 22 h-year high they decided to pause with the hiking cycle and get started again will have an implication of what the fed will do next week at this point, the market is sitting at 60% no change and 40% at .25% hike at the next meeting. that is t

is deteriorating, at the same time i talk to people, you know, that think that it's improving janet yellen today, the treasury secretary said the risk of recession has diminished because of what's happening in the labor market, and inflation starting to come down. >> well, sara, you make me laugh a little bit i mean, janet yellen's a politician, right? i would probably believe her. >> she's an economist too. >> okay, okay, larry kudlow is an economist too, a spokesperson for the white house, never an economic data point. >> i get your point, it's fair. >> but the point is, look, janet yellen comes out and says look at the labor market. the labor market is a lagging indicator. if you're going to make an economic projection why would you focus on the labor market? and then she says well, inflation's coming down. well, sara, tell me a recession where inflation didn't come down i sort of saw the quotes, and i rolled my eyes i haven't been calling -- >> but it's not just her, inflation expectations in the market have actually stabilized, and risen as the soft landing scenario still get traction

host: we got your point, on janet yellen and the folks behind the scenes? guest: i don't know how they found the additional five days but they'd did. if they hadn't, it probably changes the timeline. a journalist has a deadline you very rarely file before your deadline. it's the same thing with congressional negotiators and white house negotiators in a situation like this. it's important to underline that we would not have instantly defaulted if we past the deadline. other spending would have been constrained or not going out the door to do the payments we absolutely had to make. it wouldn't have been his fault. it's not as though if the deadline were midnight, minute past that, we would not have been default. host: this is danny, independent, good morning. caller: thank you and good morning. forgive me if i drop a call, if terrible phone service. i was going on the news of the week about the attorney general in texas. recently called is i think he filed a lawsuit, maybe it was a dropbox election, maybe that's where it was? guest: you are asking whether he

jamie dimon says the economy is fine and janet yellen telling cnbc she sees more bank consolidation aheady is it so hard to see clearly what shape the economy is in >>> and a lot of the retail names looking like home builders from a year ago. that's ahead >>> first, a quick check on the markets with the nasdaq hitting a 52-year intraday high, although we're mixed to slower s&p is down about 13 points. energy is the top performing sector today marathon, apa and halliburton are some of the biggest gainers. >>> let's get now to the big shakeup in the media world cnn's ceo chris licht stepping don just days after the atlantic published a profile about his tenure at the help shares are up 7% after this news amazon headlines a little while ago, as well cnbc's parent company and fox hired 1.3% today in february 2022, after two months after chris cuomo was fired, jeff zucker resigned. licht was his successor a few weeks ago, as discovery was merging with warner media. before taking the helm, licht was tasked with announcing the closure of cnn plus less than a month after its launch, about 250 peo

treasury secretary janet yellen tells bloomberg she sees a lower u.s. recession risk.onsumer -- india's premise addresses congress after sealing deals, but facing questions about his human rights record. >> when it comes to pmi numbers for australia, the judo bank composite the preliminary number coming at 50.5%. softening, but still marginally above the level that separates contraction from expansion. june manufacturing seeing weakness, marginal improvement. still in contracting territory. still holding above 50%, but a significant slowdown from what we saw in the previous reading. the aussie dollar has seen weakness, selling against both the greenback and the kiwi dollar from leveraged funds. this, as we hear from socgen. if we want to see the aussie dollar above $.70, they need to see significant more hawkish rba. lots of questions over what that looks like, given we are expecting the july decision on who is the next rba governor. a lot of other names in the mix. we could see aussie bonds move on that decision. shery: we know what a hawkish fed looks like. today, we

. >>> plus, first and secretary of states, now the treasury secretary, janet yellen reportedly headingo china next month. we'll talk about what she'll try to accomplish. >>> but first, thank you, jon. let's get a check on these markets. and stocks are right around session highs pretty much the dow is up 227 points and it's the laggard today s&p up 50, 4378 and nasdaq leading the charge up 1.7% russells are strong today as well keep an eye on walgreen's why the dow is underperforming somewhat the stock is the worst performer in the dow with 9% decline today. not just the worst performer today, the worst in the dow over the past three months, over the past six months and over the past 12. we'll have more on the earnings missed sending the stock lower coming up. >>> on the other hand, we have shares of generac up 28% in june we spoke to the ceo last week about their role in helping texas stabilize its power grid during this heat wave. 30% run capped off with 8% pop today, jon. >> all right >>> now for our slew of tech news for today google gets another downgrade from bernstein today follo

janet yellen will speak later on.you have some others, the president of brazil, president of nigeria, all here in paris. tom: how much is outreach to the global south? how much is it about france and the nations trying to gain ground? to what extent is that the focus of the summit? francine: this is a huge focus. it is a huge win for macron. once again you saw him trying to broker peace. it is -- is him trying to put the g7 in the middle of some of these big thinking problems that the world needs to address. it is reaching out to the south in terms of debt relief, if we get the money. china holds a huge amount of debt that they could write off. this was one of the please from janet yellen, who you could see on the screen if you're in the room behind me. no crude exchange of money of transfers. we are expecting the banks to come out with some kind of agreements, of pledges heard if we don't get some amount of money, at least it is continuing the conversation. it is hard. there is a lot of goodwill from a lot of people

on tuesday, janet yellen testifies before the house financial services committee on the state of thenternational financial system. also the outgoing cdc director testifies before the coronavirus pandemic subcommittee on cdc policies and decisions during the pandemic. and jerome powell holds his quarterly conference. watch next week live on the c-span networks or on c-span now, our free video app. also c-span.org for scheduling information. live or on-demand anytime. >> listening to programs on c-span3 c-span radio just got easier. tell your smart speaker, place priest -- c-span radio and listen to washington journal daily. important congressional hearings and other events throughout the day and weekdays at i have :00 p.m. and 9:00 p.m. eastern catch washington today for report of the stories of the day. listen anytime just tell your smart speaker play c-span radio. >> c-span is your unfiltered view of government. funded by these television companies and more including cox. >> it's in stream we rare. -- extremely rare. friends don't have to be. you are connected, you're not alone. cox

janet yellen will be there at the same time. there is a possibility now that antony blinken has met with them that janet yellen will too. haslinda: all about restoring stability. bloomberg's stephen engel, we thank you so much. south korea's sovereign wealth funds says tensions between washington and beijing pose a risk to global economic prospects. >> most important risk factor is the decoupling of u.s. and china. cold war. i think it become a devastating impact on world economy. rishaad: you can get more back interview coming up in about half an hour. still to come, we have lenovo joining us. plus, m&g investment management. coming your way next. this is bloomberg. ♪ fabulous surroundings... but everyone's looking at their phones for ncial insights fabulfrom merrill.ngs... is he hailing a ride to the concert hall? no. he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill adviser. she's not researching her next role. sh

later, don't miss the name for it janet janet yellen will be joining us at 8:00 a.m.ou're watching "squawk box" on cnbc narrator: the man with the troublesome hemorrhoid enters the room. phil: excuse me? hillary: that wasn't me. narrator: said hillary, who's only taken 347 steps today. hillary: i cycled here. narrator: speaking of cycles, mary's period is due to start in three days. mary: how do they know so much about us? narrator: your all sharing health data without realizing it. that's how i know about kevin's rash. who's next? wait... what's that in your hand? no, no, stop! oh you're no fun. [lock clicks shut] >>> time now for some squawk fix. our next guest thinks that the 2023 tech rally will come to an end, but there will be a buying opportunity later in the year as new picks amd and uber grow. paul meeks joins us. portfolio manager at citadel you still own it, but i think in your view it's gotten a little frothy in ai stocks and, therefore, maybe, to a lesser extent, to tech in general. >> yeah. i think at this ai rally that we've seen in which nvidia has bee

this week, we heard from treasury secretary janet yellen. she said decoupling be disastrous. >> think we gain and china gain from trade and investment that is as open as possible and it be disastrous for us to attempt to decouple from china. derisk, yes. decouple, absolutely not. reporter: yeah, and neil, it seems like business leaders maybe they have little or no interest into coupling because here is a list of just some of the recent business titans who have recently visited china. in addition to bill gates, elon musk who reportedly said he opposed decoupling when he was there in china according to chinese officials. tim cook who met with china's commerce minister and jpmorgan ceo jamie dimon who pledged to remain in china for both the good times and the bad, and for china's part, well it's likely eager to court the investment, because we're getting new data that shows china's economy took a stumble in may as it's making its way reopening after the pandemic. retail sales and industrial output missed expectations and china central bank cut

a lot of people disagree with janet yellen, just days from when quarterly tax receipts will arrive, putting us in position we'll be able to function without debt issuance from mid to late july. i have been saying since january, get on this now. that doesn't mean we should pass because this is on the table. just because it is here doesn't mean it is the right thing to do. this doesn't do what it claims and that is my biggest problem with it and puts american people in disadvantageous position. we need to try to stop it and improve it or go back to the drawing board. >> brian: newt gingrich said beginning of turning everything around, didn't budget for last three years. see what the senate, you guys will debate it shortly. thank you, appreciate it. >> thank you. >> brian: all right. meanwhile -- >> ainsley: a lot of families think of it, how big of an issue to most americans? you don't want to be in debt, but a lot of people look at government money as not your money. we pay taxes, we don't like how they are spending it, nothing we can do about it, it is like a credit card and you let the gov

janet yellen says diminishing risk for the u.s.ll into recession on suggesting a slowdown in consumer spending might be the price to pay for finishing the campaign to contain an nation. this is from an interview with bloomberg news on thursday. when talking about the chances of recession, yelling the said that odds have gone down -- janet yellen said the odds have gone down. also talking about the debate over whether the inflation target of 2%, saying the debate is not appropriate for now but that recession remains a risk as tightening continues and we could need to see consumer pending consumer -- consumer spending slowed down as the price to pay to ease cpi and this latest assessment coming after the report that shows job gains have been essentially beating economist expectations with retail sales and other indicators in the u.s. showing surprising resilience tips by just despite the tightening. this is bloomberg. ♪ we all work differently now. so cdw helped us deploy mac, supercharged by apple silicon. ♪♪ built-in security prote

he made comments in madrid >>> janet yellen hopes to travel to china to contact beijing.he did not offer a timeline on when the trip may happen >>> and satya nadella made comments at the ftc hearing over the activation of activision-blizzard. >>> and p ftx is looking to restart the failed crypto exchange as the company works through bankruptcy. >>> and the financial times is reporting that the new york times and newscorp are teaming up to address a.i. and need for protection from the technology. >>> we have a news alert on amazon in the coming weeks, the ftc is planning a suit aimed at the core online marketplace. the suit is expected to allege amazon uses power to reward merchants that use the logistic services and punish those that do not amazon shares up .50% in extended trading the s&p 500 and high yield bonds tell a story where sentiment is right now, but the overall s&p is up 14% for the year the etf that tracks the junk bond market is up 2% this isindicating this is not as much concern about the effects of the recession coming down the line. we'll keep an eye on th

maybe secretary janet yellen should give taylor swift a call. e a big mistake economically fox business lydia ho live with more on that coming up next. stay with us. ♪ ♪ ♪ ♪ ♪ get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app. doors take us places. so you bought a place. to new adventures. -oh. mwah. -planned... -and unplanned. -surprise! -they lead to goals. -for you, mama. and connect us to family. i didn't get the part. your dedicated fidelity advisor can help you open those doors. but i did get waiter number 2. because they know you. they can help you create a comprehensive plan for your full financial picture and personalized money management with the right balance of risk and reward. doors were meant to be

treasury secretary janet yellen sees the risk of u.s. recession diminishing. plus, stubborn u.k. inflation and the bank of england's 50 basis point hike piles more pressure on the mortgage crisis facing millions up and down the country. francine: both look at futures. the dollar climbing. verbal intervention on the yen, but a lot of focus is what central banks have said this week pushing up a bond yields tightening fears for recession. ftse futures are down .3%. tom: we are setting ourselves up for five straight days of losses in europe. for asia, the worst week we have seen this year. globally the worst week for about three months. the pressure in equity markets is there on the hawkish rhetoric coming through from central banks. the ftse 100 opening this friday, june 23, currently down 0.2% following that shock increase of 50 basis points. how many more jumbo heights are in the pike for the central bank as they wrestle with the highest core inflation in the g7? the cac 40 in france down 0.5%, the ibex off 0.7 percent, dropping 64 points. let's see how things are shaping up cross

janet yellen testifies on the state of international financial system.lso the outgoing cdc director testifies before the house coronavirus pandemic subcommittee on cdc policies and decisions for the coronavirus pandemic. and jerome powell holds his quarterly press conference. wednesday evening the annual congressiol seball game live from washington nationals park with members from both parties of the u.s. congress participating to raise funds for local charities. watch on the c-span networks or c-span now. also head over c-span.org. c-span your unfiltered view of government. >> c-span now is a free mel watt -- mobile app. keep up with livestream's floor proceedings, white house events, the courts, campaigns and more from the world of politics ullage or fingertips. you can also stay current with the latest episodes of washington journal and find scheduling information for c-span tv networks and radio plus a variety of compelling podcasts. c-span now is available at the apple store and will play. your front row seat to washington anytime anywhere. >> c-spa

on tuesday, janet yellen testifies before the house financial services committee on the state of theernational financial system. also the outgoing cdc director testifies before the conavirus pandemic subcommittee on cdc policies and decisions during the pandemic. and jerome powell holds his quarterly conference. wednesday eveni the annual congressional baseball game live from washington nationals park with members from both parties of the u.s. congress participating in the game to raise funds for local charities. watch next week live on the c-span networks or on c-span now, our free video app. also c-span.org for scheduling information. live or on-demand anytime. c-span, your unfiltered view of government. >> c-span now is a free mobile app live and on-demand. keep up with floor proceedings and hearings from u.s. congress, white house events, the courts, campaigns and more from the world of politics all at your fingertips. stay current with washington journal and find scheduling information. plus a variety of compelling podcasts. c-span now is available at the apple store and google

that's what janet yellen kept saying. we finally got in there and guess what? we found? ver we found that joe biden lied when he said his family never took money fro m. we found that joe biden actually did and his family didd receive payments while he was vice president . new we found five new biden family, five new biden family members that were in on the peddling scheme. so thaert was a very productiveu trip to the treasury, even though they said we wouldn'tnk w find anything. i think we'll find the same fbi sort of evidence with the fbi documents and directory, to be clear , will now face contempt of congress unless he produces n this document like we asked this unclassified document tuesday, or wednesday whenever we have the markup. all right, james carville, congressman, thank you . we appreciat. >>e e when we comeeake back . currently, a press conference with speaker kevin mccarthy at 2 bring that to you live. the twenty twenty four gop fielto d is about to get much an bigger. we'll tell you about that. plus, getting ready to announcue tomorrow. we will be in iowa.

there's seven of them under janet yellen. donald trump gets elected. how does he end up in the in the big office? yeah. and so, again, this is one of those instances. he's just, you know, he's just kind of the sort of person who's been at the place at the right time. but i think he's also the kind of person who opens him up to himself, up to like joining the bipartisan policy commission during the debate. exactly kind of moment when when this kind of thing would happen. but he's sitting, he's out. he's a governor he's been extremely helpful as a governor he kind of chaired every committee under janet yellen. you know, the the back story here is that fed governors absolutely detest chairing committees. they're like a ton of work. they're very thankless they're not glamorous. nobody gets any kudos externally for doing it. and jay powell did a lot of committee chairing. he did a lot of committee work while he was at the fed. he was a workhorse. he was a workhorse. people liked him internally. people liked him internally. he was very well liked. you'd like

had about $100 billion of cash on hands versus $1.7 trillion in february don't really have, as janet yellentioned, a banking system problem lurking, but there are individual bank issues, individual property issues and profoundly in the older office product >> i guess, as you look at some of the secondary data in terms of where the leases are being pulled back, are there any sectors specifically we're talking about the hotel sector, but are there places to drill down further to see whether they're being opportunistic or weakness? >> i'm glad you brought that up. a lot of our clients are taking a big bet on office space, on maybe some quasi distressed hospitality because they believe in the next two to four years there will be a return to office certainly business travel will recover more than it has consumer travel has recovered very well and overall hospitality is doing great there are unique opportunities where either converting office to other uses and in some cases replacement of older office space because the land has value. the great page that can be taken out of a book is retail. over

us treasury secretary janet yellen �*s talked treasury secretary janet yellen �*stalked before aboutready going up and actually the credit ratings agency has said it is keeping the us's credit rating or negative. there is an idea that this type of brinkmanship, the idea that the us could default even though politically in the end it is unlikely, that damages confidence in the us economy so it is all very well, republican house speaker kevin mccarthy or the presidentjoe biden saying, look at this great deal we have managed to broker and avert catastrophe. with the possibility of the catastrophe itself has already caused damage. itself has already caused damage-— itself has already caused damage. itself has already caused damaae.~ . damage. what about the message from the president _ damage. what about the message from the president about - from the president about bipartisanship? edie was trying to make a contrast between his message and what we saw from some republicans? —— do you think he was. some republicans? -- do you think he was.— think he was. there was a lot in this address _

completely misrepresenting comments janet yellen made a year ago, about abortion.> senator tim scott, calling out janet yellen's claims that abortion is good for the economy. >> i know i didn't hear what i just heard, that the way up his to eliminates the life of your child. that's unconscionable. >> for facts's sake, what did secretary yellen actually said was that banning abortion could prevent women from finishing their education, and limiting their career opportunities. any, what is your take on this position, the likes of tim scott are taking. they're not even telling the truth to their supporters about an issue that supposedly is so important. >> what this tells me is that abortion will probably be the issue in 2024. why? because both sides are going to be talking about it. the abortion issue is sort of, for the republicans, it's like the proverbial dog that finally caught the car, right? before a year ago, the republicans always talked about this issue. it rallied out the pro-lifers. but they never really believed that roe v. wade would ever be repealed. now

just ahead of blinken's trip to china, treasury secretary janet yellen said the decoupling from china would be disastrous for the united states. instead she called for deepening economic ties between the u.s. and china. what's your reaction to that? >> well, decoupling, derisking, all these words are being used, but what we see at the moment is a general movement for each side to become more inward looking and to go back not quite to that maoist philosophy of self-sufficiency, but to build up more self-reliance, to talking about trading with friends rather than based on economic considerations. so it's to the interests of the whole global economy that china and the united states can find a way of conducting normal economic and financial transactions. i think we all stand to benefit if janet yellen and her counterparts in china can find ways of resolving some of those issues. >> you mentioned it at the start of our chat here that there's a sense of relief. so the important next steps now so that they can continue any advancement, any progress that is perceived on this visit, what would

rest of the year. >> congressman doesn't sound like you are very convinced what you heard from janet yelleny, in front of your committee. >> not convinced at all as i said she basically agreed with me their only strategy for ro pro-growth initiatives was spending, meanwhile, we've got new regulations coming out of the eu, that frankly she was barely war of companies doing business over there, interest rates, jerome powell using interest rates as blunt instrument not having conversations with the rest of the white house, in out-of-control spending as well as the assault on energy, assault on energy is still about small business right into american families' s consumer spending certainly going to decline, so look i am not predicting necessarily recession, but you add all that up new assessment fees that the fdic looking to have on basically small banks any bank over five billion dollars paying millions to pay off, the sbv bailouts signature doing wrong moves, they need to regroup, we need to have a fiscal responsibility we put into a fiscal responseability act you can only put certain amount

everybody shouting the sky is falling and janet yellen has seven days, this is it, she couldn't see thek crashes, couldn't see inflation, but we know who we are going to default, ask her to provide a document, how do you get this june 1st jacob june 5th day, june 8th date, nothing. everyone is scrambling and my colleagues and i in the house freedom caucus came up with a plan, we presented it at a press conference and gave it to the speaker. this plan would save $4.8 trillion. $4.8 billion. it was a limit, we had major cuts in here. the student loan bailout would end hundreds of billions of dollars. we had covid clawbacks that were legitimate. we had all sorts of programs in here that did not need your tax dollars, that we can put it into, like, let's say, $80 billion for this, 87,000 irs agents. let's go ahead and take that money back. and then we were told on a holiday weekend the deal had been made behind closed doors, closed doors we weren't invited to sit behind and the debt ceiling deal came out and immediately when informed about it, we don't see the text, doesn't sound like a gre

then, we got these warnings from janet yellen, the treasury secretary. we are going to have to do this. the president cut his trip to asia short so he could come back and engage directly, or at least his team more directly, with kevin mccarthy and his team. it came together quickly enough, even though we got these little alerts. in time you thought you could relax a little bit, that they are back at the table, back in a conference room. we would get these notes that someone would walk out in a huff. it was sort of this "the wedding is off" mentality. then, they would get back together 12, 14, 24 hours later. i think that is a testament to the people who the president, kevin mccarthy, and the speaker chose. these are serious people. they obviously have their own political views, but everyone seemed motivated to get this done. that was striking. we may be lurching from crisis to crisis, because congress responds most acutely to deadlines, not thinking too far in the future. but if people can engage in this manner, intelligently and articulately, and everyo

janet yellen saying more bank mergers are likely this year. watch this space.ore consolidation in banking could be healthy. the u.s. has a significant number of small to midsize banks. over going to see consolidation? the treasury secretary may be signaling she would welcome that. let's get back to the question of the day and we've already had a lively debate around it. are the pmi data we are seeing now pointing to a policy mistake from central banks? the global head of investment negation for ubs joining us now. what do you think? >> i don't think they are making a policy mistake. inflation is high and shows the interest rate hikes they have done so far are starting to have an effect and, if the economy stays too strong for too long, that raises the risk they will have to raise interest rates more. i think that is probably the bigger risk to the market. a slight slowdown in terms of the pmi's is probably not a bad outcome for markets today. alix: do you agree sell stocks and buy bonds? that is the playbook, let's leave out the u.k. for a second in that scenar

i would assume after the janet yellen meeting. spy balloon that you referenced, this is an and integral part of china spy program. they will not stop even though we shot one down. i think the biden administration missed a huge opportunity to bring forward the evidence of the spy balloon in terms of the equipment that it had on it. we had that in our possession and we should expose that publicly to the world. china is still denying. they said it scientific research and accidentally blew across the united states. that on the surface is a complete absurdity. i always believed china exposed ally in china lied again, exposed ally. paranoid and insecure of the regime of theirs. that is always important in dealing with them. the biden a administration has missed an opportunity, just as you said many times, they don't push on the origins of covid the way that they should push on it. particularly when they have really good evidence that originated in the wuhan lab and we should be hammering that on a regular basis as opposed to never bring

then we came up against this debt ceiling, and everybody's shouting that the sky is falling, and janet yelleneven different dates where this is it, folks. i mean, she couldn't see the wang -- bank crash, she couldn't see inflation, but she knows when we're going to default. how do you get this june 1st date, this june 5th date, this june #th date? nothing. so everyone is scrambling. my colleagues and i in in the house freedom caucus came up with a plan. we presented it at a press conference and gave it to the speaker. this plan would save $4.8 trillion. which are 1.8 trillion, excuse me. it was the limit-save-grow plan. we had major cuts in here. the student loan bailout would end. hundreds of billions of dollars -- [applause] we had covid clawbacks that were legitimate. we had all sorts of programs in here that did not need your tax dollars. like let's say $80 billion for this, 87,000 irs agents. [applause] let's go ahead and take that money back. and then we were told on a holiday weekend that a deal had been made behind closed doors. closed doors that we weren't invited to sit behind, and

meanwhile you heard janet yellen warning of commercial real estate issues. not the first time she has done so. the treasury secretary is concerned there is great exposure there, could be substantial exposure by u.s. banks so far what they say manageable exposure. i wonder what the ceo of royal palm companies, of all things focused on miami heat even though things were not going as well as they were interest 4 hours ago after this. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ ♪ tourists tourists that turn into scientists. tourists photographing thousands of miles of remote coral reefs. that can be analyzed by ai in real time. ♪ so researchers can identify which areas are at risk. and help life underwater flourish. ♪ ♪ ♪ ♪ [typing] ♪ you were made to act spontaneously. we were made to help plan accordingly. ♪ chevy silverado factory-lifted trucks. where will they take you? with the capability of a 2-inch lift. ♪ the versatility of th

however, treasury secretary janet yellen now seeing a diminishing risk of the u.s. falling into recession. lots of cross currents here. joining me now to help sort all of this out is qi research ceo and chief strategist danielle dimartino booth. danielle thanks so much for joining us. so, given all of that, could we be driving the economy towards a recession with all of this talk? there are fears, among some investors, not only in the u.s. but around the world, because we've seen some very aggressive actions from central banks here and in the uk, norway , switzerland, the list goes on. what do you think of all of the noise? >> so i think maybe the contrarian in me sees janet yellen not foreseeing a recession potentially as being the biggest recession flag i've heard yet. if you just want to look at the brass tax study the data, be agnostic about it and a data purities which i suggest that we all be, you have continuing the number of continuing individuals, americans, out of work, collecting unemployment benefits at 90% of the population for the last three months. ap

is the roberts court going to bounce janet yellen's checks? amy: the issue of m.v.p.is positive when it comes to sports but is the mountain valley pipeline that so many have opposed saying the greenhouse gas emissions that could result from the fracked gas that goes through the pipeline could be equivalent to something between 26 and 30 coal-fired power plants. within this bill, have biden going forward on the willow project in alaska. can you talk about the significance of this and also the person you have talked about is your friend senator manchin, the power he has almost as the second president joe? >> this is a punch in the gut to climate activists across the country come to young people around the country. they saw some momentum for the inflation reduction act when congress finally passed it, and major investment in solar and wind, in batteries and electric vehicles. and then they see the administration approved the willow project in alaska and they are bill wooldridge. how can an administration that is focused on climate then be allowing for the drilling in ala

replenished with a lot of bill issuance over the next three or four months, there will be qt coming from janet yellen in risk assets might take a hit on that so they will be cautious at this stage. katie: we will definitely get to people issuance. we have the view so let me bring you the cd securities view. she said a strong payroll report with upward revisions on that fed is likely to hike in june, that is our base case, a june hike. what is your base case? >> our base case view is a pause or a skip, it doesn't matter what you call it. it's basically a pause and then they can continue along the path of data watching. the expectation is the hope that inflation continues to not lower. as ian mentioned, the heat is still on so they may need to raise rates again. our view is that they are on hold for an extended period of time and that will allow monetary policy to continue to do its work behind the scenes. we've got qt also happening so there is enough tightness in the system to continue to contain both growth and ultimately inflation. katie: you bring up the difference between a pause and a skip. we a

janet yellen has warned more borrowing is needed to be the financial demands by june 5. allie fisher joins us from washington. what is happening now? >> the house is in recess but will be back in 1.5 hours i will start the vote to suspends the debt limit. there was a vote earlier to put the matter to the house and that became tense in that the democrats waited until the last possible minute to bail kevin mccarthy out. 29 republican votes of no but 52 democrats came in at the last minute to give him the backing and that meant the house would vote on this this evening. the reason it will be at 7:30 is because when the deal was agreed, kevin mccarthy said he would give every member 72 hours to look over the bill. that ends at 7:30. the bill will almost -- does it mean the bill will go through? there will almost certainly be defections on both sides who are not happy about what is in the deal but kevin mccarthy says he thinks he has the votes and told reporters that democrats did exactly what he would do if he was in their position, wait until the last minute, and it is esse