as erin mentioned, janet yellen | american voters.ption will be like. they have been hosting their asia davos in china and had theirforeign their asia davos in china and had their foreign investment forum as well, they have had a lot of american ceos with them talking about doing deals. you can't aet talking about doing deals. you can't get away _ talking about doing deals. ym. can't get away from the fact china is an integral part of the global economy in so many american businesses want to be in china so janet yellen has a difficult path, a strong message for the us government but also making sure it is not making life harder than it already is for us businesses to operate in china, which is a key market for their products. 0k, key market for their products. ok, chris, good to get your take. we will see you soon. have a great day. to asia now, where the japanese yen has slumped to a 34—year low against the us dollar. on wednesday, the yen was trading at almost 152 to the dollar, despite a historic shift away from negative interest r

janet yellen herself observed that.ecause that's the difference between growth or potential bankruptcy. some of these companies waking up and seeing a much different interest rate environment. they were expecting free money. they're not getting it. i'm wondering if you're surprised it's taken as long as it has for this economy to get impacted. we had nancy la czar on lazar o. i said the economy seems fine, it's growing. i said are you surprised it took 11 -- it took this long after 11 rate hikes to actually see an impact. listen to what she said. i want to get your take. here's nancy. >> on average, how long does it take for a fed rate he cycle to negatively impact the economy. on average it's 10 quarters so we're just now, it's right now eight quarters, we're moving into the timeline where the lag effects of the timing cycle should be having a negligence i've the impact. maria: so do you agree with that, jim? when you start peeling back the onion, you don't see such a great economy. people are tapping into credit cards

change global markets pick sheet tsdb been more careful than i do but i'm excited that secretary janet yellen is here with us today for a conversation about small business, workforce development all things money. she has decades of experience who has been instrumental empowering our world leading economic recovery and i'm excited to speak with her today so please join me in welcoming secretary janet yellen. [applause] >> thank you. thank you so much. >> madam secretary welcome to michigan. >> i'm delighted to be in michigan and thank you so much for having me. >> we are pleased to have you and there's a lot of excitement from folks here who have come to watch this conversation antic cited to hear from you. >> i'd like to start by asking you a question. president biden and i are very proud of the inflation reduction act it's a piece of legislation the most historic legislation in our countries history to address climate change and clean energy. i think it has an especially important implication for michigan. my question to you is how is it going? how are you finding implementation and challeng

janet yellen spoke in georgia on wednesday but she aimed her words at china.treasury secretary warned china against flooding the market with cheap clean energy exports. things like electric vehicles and lithium ion batteries. she said that we have seen this story before and likened this moment to the way china overproduced metals such as steel and aluminium years ago. the department says it is not only a question of price ability, they say it also hurts american companies and workers. the us is working on pumping up its own clean energy sector, offering tax breaks and subsidies to developers. meanwhile, the us is taking steps to blunt the power of china's chipmaking industry which it fears can be used to make advanced ai chips that strengthen china's military. it urges ally countries to keep from servicing some important chipmaking tools for china, much like rules already in place in the united states. the chinese president said that such policies will only lead to division and confrontation, adding that no forces can hinder the price of china's technological

in janet yellen may think the economy is on the right track and the backbone may be worried about the future, coming up to get a check to state a small business with the ceo of j.p. morgan chase business banking. as we head to the break we should point out small and mid-cap, ticker s mlt of more than 20% over the last year. not too shabby. "the claman countdown" is coming right back. ♪ starting a business is never easy, but starting it eight months pregnant... that's a different story. with the chase ink card, we got up and running in no time. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours. the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo - wounded warrior project has been with me every step of my journey. - they've helped me realize it's possible to rise to the top again. - it's possible to get the help i

mario: one of the things janet yellen has tried to do is tight rope.ay she has had workers language towards china -- she has had more terse language towards china, she has also welcomed healthy competition, it wants a healthy environment with china. a fair and competitive environment with china, and not to decouple from china. that is any understanding of how dependent the global economic landscape is on china. the u.s. is trying to make sure it is measuring some of that rhetoric. annmarie: i would like to change topics into what is happening in new york today. president biden is coming flecked by obama and clinton. we have any of panetta. there is everything to be gained by biden standing next to clinton and obama. how difficult is this between going to be when the former president is in new york to attend the funeral of a police officer that died while on duty? mario: it is a sad situation, first of all. it is politics. this is an election year. on the one hand we have joe biden showing he has coalesced to the democratic party. donald trump has point

joining me now, i'm honored to say, treasury secretary janet yellen.y much for coming on our program today. i wanted to ask you about the collapse of a major port, baltimore. i think it's the ninth largest in the u.s. it's not going to be open for months potentially. they don't know yet. from your perch as treasury secretary, what's the cost to the auto dealers and others waiting for light trucks and cars as well as farm equipment that comes through that port with this extended shutdown? >> first, let me say that my thoughts are very much with the victims of this tragedy. grateful due to quick thinking of people on the bridge that there wasn't more loss of life. we are trying to evaluate now what the impact may be of the bridge collapse. president biden has indicated that we will do everything as quickly as we possibly can to reopen the port, which is, as you said, one of the most important in the united states. we have a supply chain task force that will be meeting this afternoon to review what they know about the likely impact. but we're monitoring t

janet yellen knows this but she feels like has to play along with hers about.ussell vought, let me ask you with respect to mr. trump, has decent lead on economic authority, recision authority, budge jest impointment authority, just in general tough on budget cutting. he will have to do it if he gets elected? >> well look, i think people should judge him by the budgets that he has put forward. there is always been a misnomer that the president was not willing to tackle our fiscal situation. he promotessed more spending cuts and reductions and reforms by any president in history. it was largely ignored by congress. he was facing an uphill congress. he also put forward proposals revising impoundment authority that 200 years of presidents had. i believe when that went away, at the lowest part of the executive branch political capital, that was the original sin allowed you to no longer have a separation of powers fight to control spending. it was basically whatever congress said it would be. people should look what he has put forward as the most substantive set of p

plus, i ask treasury secretary janet yellen why she says the inflation trend is improving while the latestumbers actually show it's rising. "cavuto live" starts now. ♪ edward: welcome, everyone. i'm ed warred lawrence in for neil if cavuto. madeleine arely varian that -- rivera. >> reporter: now that special prosecutor nathan wade has stepped down, fulton county district attorney fannie willless can stay on the election interference case against former purpose, but she comes out of this with her reputation in question. judge scott mcafee ruled there trump and his allies failed to show the relationship between willis and wade created an actual conflict of interest. still, he had some tough language for her saying she demonstrate ised a tremendous lapse in judgment, and he criticized this fiery exchange between willis and the defense when she testified during the earth share hearing last month. evidentiary. >> you think i'm on trial. these people are on trial for trying to steal an election in 2020. i'm not on trial no matter how hard you try to put me on trial. >> reporter: mcafee is now su

janet yellen.rmland problem and the chinese communist problem is she's too busy out there trying to raise a taxes on everything; corporations, individuals, capital gains, dividends. you name it, if it moves, she wants to tax it. >> larry, by the way, i read your book. "cutting taxes, cutting regulations." it's the best way to have a productive economy. and as you said in your book, the most productive and successful presidents in this country have cut faxes, have have -- taxes, have cut regulation for better and bigger growth. and that's what we have to do. janet yellen, she's way out of her league. she's talked about things more for china and russia than for us. at the end of the day, we're going to take this back over and if try and get some reality back in the united states of america especially when it comes to helping our workers. larry: yes, sir. >> you raise taxes, larry, we're going to put people out of work. larry: i'd have sent you the book for free, senator tuberville, but i'm thrilled t

well, his treasury secretary janet yellen essentially echoing that point with her own edward lawrence us now to look at the impact of what she's saying. to you, my friend. reporter: yeah, they're looking at timeframes saying that inflation is coming down from a year ago but you've got to go back to when the president first tame into office. secretary janet yellen will be here at this manufacturing plant in about an hour in elizabeth town, kentucky touring. they make the casings for ev cars for the batteries for ev cars and it was made possible by the inflation reduction act and tax yesterdays now, inflation was a big topic of our interview with treasury secretary janet yellen. she says the trend will go down to 2% and she thinks it'll happen this year, except i press ed her on the trend from the last three months. listen. but if you go back and look at m over month, december, january, and february, it showed an increase of inflation. is inflation coming back? >> well, look, inflation is down almost two-thirds from the high it reached in 2022 and the trend is clearly a favorable one. i

treasury secretary janet yellen says insurance companies will help cover reconstruction expense. >> myance payments in part to cover this. but we don't want to allow worrying about where the financing is coming to hold up for construction. maria: joining the pennsylvania congressman dan meuser of the house financial services and small business committees. good to see you, thank you so much for being here. what is your take on this will congress need to pony up more money or is there enough money in the infrastructure package. >> great to be with you maria. it was kind of outrageous for biden to express in the tragedy that is going to use federal funds to pay for an entirety, he doesn't refer to as the american taxpayer dollars on anything, the first reaction and the only reaction tends to be to spend, this was a tragedy we all solid, people lost their lives and it's a very important port as you mentioned a little while ago a lot of pennsylvania's coal ship out of it 25%, automobiles, natural gas. he needs to be corrected but this is singapore flagship number one so what responsibility

today for delivery this■< >> today white white houst director shaland young and treasury secretary janet yellenon presidentiden's 2025 budget request of the economic outlook. watch the house appropriations subcommittee hearing live at 2:30 p.m. easte on c-span3, c-span now our free mobile our free mobile video app, or online at c-span.org.■3 ♪ ♪ >> the house will be in order. >>this y celebrates 45 years of covering congress like no other. since 1979 we have in your primary source for capitol hill providing balanced unfiltered coverage of government. take you to other policies debated and decided all with the support of america's cables. c-span, 45 years and counting, powered by cable. >> senate majority leader chuck schumer was joined by other democratic leaders to discuss this with government funding deadline for the remaining fiscal year. he talks about president biden's announcement of a multimillion dollar grant for production with intel and continued to defend his recent speech calling for new election in israel. [inaudible conversations] [inaudible conversations]

tom: interesting you bring up the comments from janet yellen, what did you make of those comments? is that a warning shot being fired across markets or is that scenario already priced in? >> she is being realistic. she can see firsthand where u.s. government spending is going. she knows they are running a large deficit. she can see the level of interest rate so she has probably warning people. if we continue to spend away they are, when you think of interest rates being 4% plus, they may come down a bit. inflation is running higher than it was in her term. unlikely we can take rates down to 1% or even lower. we are talking about a higher number and there was a big debate about where is the neutral rate? is a 2%, 3%, where it fall? janet yellen is warning people it will not be anything like the days after the global financial crisis when we had something close to zero interest rates. tom: thank you very much preview of important data out of the u.s. and analysis from the u.s. treasury secretary suggesting rates will not get back to pre-pandemic levels. now to an intriguing story, on

janet yellen is the best person to deliver that message.not say she is a popular figure in china but she is respected. she is not considered an ideologue like some members of the biden administration. i would say she is well worth listening to. in america, i think we will see chinese ev's stocked one way or another. europe is the big game with a european investigation into subsidies or dumping. i think it is a real thing about chinese overproduction and sending it offshore. however many dozens of chinese ev companies, they cannot all make money in china. they have to sell offshore. europe and america will push back against that. stephen: geopolitical tensions not necessarily on the back burner but they are in the south china sea, the philippines and china, taiwan, what is on your radar, geopolitically? richard: we have not heard much about taiwan here. a little bit about the philippines but nothing sort of meaty. . sorry, i have a bug, as well. i might have swallowed that one. i think taiwan is interesting. the chinese response post the jan

what does janet? yellen's critique have to do with the palestinian authorities government resignation, because the us president joe biden had a stated before that he would like for a reform pa to rule over the gaza strip, although that is something rejected by hamos. there were reports like how the us was looking to prop up palestinian authority financially to prepare for post war gaza rule, in which a reform pa was central to the biden administration's vision for post. gaza, but ramala says it may run out of money by month's end. this report came amid warnings from officials in romela that the pa was on the verge of running out of money. which could jeopardize its ability to govern the gaza strip once israel's honot against palestinians is over. that is it for this quick take section. if you want to send us your comments or if you have any questions, send them to us. contact info is coming up. i'm mattia bosan and i'll see you next week. the economy of the west bank, the gaza strip and palestine as a whole wi

treasury secretary janet yellen tells fox news in an exclusive interview she regrets saying inflation was transitory. and major turbulence for boeing. the airplane maker experiences the latest in a series of mechanical problems. what that company is doing to try to fix the situation. ♪ but, first, breaking tonight, it's official. next stop the party's conventions in the 2024 presidential race. both current president joe biden and former president donald trump mathematically clinched their party's nominations with easy primary season wins last night. right now, we have new fox polling we're releasing at this moment from two swing states. the former president leads in two swing states he lost in 2020. former president trump holding a 49-45 lead over president biden in arizona. and advantage is 2 points, 49-47 in the crucial swing state of pennsylvania. we have fox team conch of the presidential race tonight. jacqui heinrich at the white house with the president's first public comments since wrapping the nomination up. first up correspondent bill melugin outside the trump compound in wes

is it good to be seasonal or is it actually going to be softer. >> let's get to janet yellen. treasury secretary morning we may be in a new normal for interest-rate speaking to saying i think it reflects the current market realities and the forecast were seeing in the private sector. it seems unlikely yields will go back to being as low as they were before the pandemic. telling biden's economic policies including the inflation reduction act. >> treasury secretary janet yellen hardly with a controversial take on the bond market at the moment. annmarie: she shifted her language. january of 23 she said they were more likely to come down in line from where we were before the pandemic. january of 24 she says the jury still out and now she says it is unlikely. she did explain for most people when they think of transitory they think days and months, maybe not years. she has said she regretted it before. from my reporting it was janet yellen who is behind the scenes saying we should be careful on inflation it might not be as quick as you are expecting great she also said the trend in

treasury secretary janet yellen is doing her part to talk about the economy. she was in georgia yesterday ahead of a trip to china where he spoke about china's economic ambitions are disporting global prices. tell us about the message and the fallout here in the states. >> it's interesting, jonathan, janet yellen went to georgia, a swing state just ahead of her tripe to china. she wants to push across the message bidennomics if it's not working the senior officials, the biden administration are actively working behind the scenes to make sure that those left behind are going to see their economic future brighten. janet yellen told constituents in georgia and told everyone else she's going to georgia in the coming weeks to tell them their industrial policies are damaging their own company and workers but also america's companies and workers. they're producing so many electric vehicles, so many green and climate friendly products, lithium ion batteries, et cetera, that it is starting to distort the supply chain and make it harder for american firms to sell their

stuart: treasury secretary janet yellen heading back to china as beijing ramps up its posture in theongress wants credit card companies to get rid of hidden processing fees they settle drive down cost of small business owners. the credit card people say it's going to cost cardholders in the end. grady trimble has a storied next. ♪ if your business needs a new application then developers will have to write code. a lot of code. if an application needs to be modernized then you'll need time, resources... and caffeine. if this sounds daunting then use watsonx code assistant ai designed to multiply developer productivity so you can generate code quickly. let's create a more modern foundation for business, with watsonx code assistant. ibm. let's create. with dexcom g7, the most accurate cgm, you can achieve diabetes results without fingersticks. see how exercise affects your glucose, making it easier to spend time in range and lower your a1c. ♪ ♪ meet ron. ron eats, sleeps and breathes hoops. and there's not a no look pass, double double, or buzzer beater he won't wax poetic on. ad nauseam

edward lawrence sat down for an interview with treasure secretary janet yellen, does not care much you can borrow and tax your way to prosperity,. >> have former embdirector in trump administration, russell vote. either tiktok will be banned or bytedance has to sell it off, fcc commissioner and former chair will weigh in, democrats going to block weapons to israel in i don't think so. but who knows. later on. voters did not like joe biden state of the union message. why don't men want to work, david bahnsen will tell us about, that first up, edward lawrence sat down with r treasury secretary janet yellen in kentucky. good work we lost him. i see him, he is not -- treasury secretary here, says janet yell yellen said rate of inflation will fall more this year, overall prices remain too high, she believes that rent is one reason that inflation will come down this year, once the new leases cycle through, i asked her about overall prices up, 18.95% under president biden since the month he took office, and americans with new credit card debt because of the prices. >> the time we spent some o

janet yellen talked about the administration bringing prices down. one of their first priorities.n't come down. even though the rate of inflation has slowed, it just means prices are going up less quickly than they were before. let's talk about some of these staples. these are things everybody has in their home. starting with the baby wipes in the front. your reference price in 2020 might have been $4.25. that's what people paid. >> steve: so in your head you are thinking it costs please a little over 4 bucks. >> not anymore. $6.64 for the baby wipes and if you have a baby you know how many of those you are going through. >> steve: i have two grandkids. >> exactly a lot. let's talk about the bleach. that's also another staple. >> steve: i can't believe the price of this. >> 7.78. now in 2024. 4.87. that's almost double. >> in my head can i remember when a clorox was like 99 cents. >> exactly. >> and paper towels. we all go through these pandemic, remember, people started stocking up on them. paper towels used to be $5.76. now they have gone up to 8.22. and that's per piece dependi

janet yellen says interest rates will not return to levels seen before the pan p dedpandemic. when asked about the white house projections showing higher interest rates in coming years compared to a year ago, yellen argued thes potential successors to bob iger. tv chief dana walden and business head alanb bergman are part of the search. no successor decision is expected this year. iger's contract runs through 2026. >>> regulators keeping the pressure on boeing. the national transportation safety board says they still don't know who worked on the panel that blew off a 737 max 9 during the alaska airlines flight because boeing has no records on the job. they asked for security footage, but was told the footage was overwritten months before the blowout. the investigation which the ntsb says makes this more difficult moving forward. frank. >>> thank you. a busy day shaping up for retail on top of what has been a market moving weekend. retail sales are expecting an .8% increase in february. retailers targeting the lower-end consumer are declining with dollar tree issues signaling a

the treasury secretary janet yellen, will be joining us anderson cooper >> 360 tonight at eight on cnn this is america is bipartisan checklist. one, shut down the border to meet three, support or close friends in israel for stand up to china's military threat. we can't afford dc businesses. usual, there's a bipartisan group in congress with a new plan that will put america's resources where they are needed. >> this bill seeks to do, is prioritize the greatest pricey to combines both which security with this foreign aid, both existential, getting it done, problem-solvers, democrats and republicans contact speaker mike johnson, tell him to allow a vote on the bipartisan defending borders, >> defending democracies act, feeling >> from a backed up god. mere lax works naturally with the water in your body to help you god for your gut and your mood will follow for eight grams of fiber, try new mirror fiber gummies >> i named bryan. how far up and because of tiktok, i have the power to educate people. and hopefully it saved lives. >> when my son brian >> died and drunk driving accident, i put

we said janet yellen will be heading to beijing.he will hammer home the subsidies issue she feels the chinese government is giving to the green space into the new big three, if you will, energy vehicles, batteries and solar, and there are allegations of subsidies and dumping. that potentially opens another front with the bifurcation between china and the u.s., geopolitically. how does that impact you and the bank in terms of finding funding in two countries that perhaps have to pick sides? scott: two things. we are a multilateral institution owned by governments. our three biggest owners -- japan, u.s., china. within the institution, we do not see a lot of daylight between their positions on this issue of core mandate. the desire for us to do a lot more on climate. they are speaking this and language. that is very good. but you are right. there are these major conflicts between these countries. for us, it is about keeping a focus on the need of our clients. weather disruptions and supply chains, that is a problem, it also creates op

>> treasury secretary janet yellen and white house budget director were on capitol hill testifying aet requesd taking questions from members of the house apprriations subcommittee. you can watch the hearing tonight at 9:00 p.m. eastern on c-span, c-span now, our free mobile video app or online at c-span.org. >> a■á healthy democracy doesn't just look like this. it looks like this. where americans can see democracy at work, when citizens truly informed, our republican thrives. get informed straight from the source, onpan, unfiltered, unbiased, word for word, from the nation's capital to wherever you are. because the opinion that matters th what democracy looks like. c-span, powered by ♪ >> celebrating the 20th anniversary of our annual student cam documentary competition. this year c-span asked■3iddle and high school students across the country to look forward while considering the past, highlighting the milestone of the anniversary, each participant wagiven thee future or 20 years into the past. in response, we received inspiring and thought-provoking documear 3,200 students across 4

quarterly press conference following the market committee meeting and janet yellen testifies before the house appropriations subcommite. watch this week, live on the c-span networks or on c-span now. head over to c-span.org to watch live or on-demand any time. c-span, your unfiltered view of government. c-span's are -- c-span is your unfiltered view of government funded by these companies and more. >> this syndrome is extremely rare, but friends do not have to be. when you are connected you are not alone. >> cox support c-span as a public service,■ giving you a front row seat to democracy. >> up next british prime minister response to criticism over support of one of the conservative parties biggest donors who made it sexist and racist comments. the prime minister addressed health care funding and transportation investment during >> mr. speaker, one of the greatest miscarriages of justice. today we are introducing legislation, business and trade will be responsible was the 75 accoun conspiracy theories about islam and muslims. they be getting its own house in order? homophobia these par

janet yellen is warning of the solar panel surplus saying the country is treating the economy is a dumpingenergy products. yellen says this is depressing market prices and squeezing manufacturing here in the u.s. which she plans to discuss during the meeting next week >>> speaking of alternative energy, hyundai is considering plans to produce all electric vehicles at its new $7 billion plant in georgia speaking to cnbc at this week's new york auto show, hyundai's president says his company is preparing for a ramp-up in ev production even as adoptions of e vvs take a slower start he adds hyundai is committed to evs, but knows hybrids may be better for some consumers, frank. >> silvana, thank you very much. >>> coming up, jim cramer has advice for investors worried about a pullback and the battle with bob iger and nelson peltz comes to a head. now it is time to separate the fact from the fiction. stay with us your skin is ever-changing, take care of it with gold bond's age renew formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. (vo) what does it mean to be rich? m

you and other senate republicans signed a letter to janet yellen over the one hundred $10 billion taxe on domestic oil and gas production. would that tax likely to energy prices as a result? >> for sure. energy prices have gone up 35% since president biden took office. they want everyone into an electric vehicle. right now there are 7.5% of americans who drive easys. in 8 years they want that to be 67%, 2 thirds of all americans, unrealistic. average cost of an electric vehicle is $52,000 at a time when americans real income has gone down since biden became president. forcing people under this mandate into electric vehicles at a time american standard of living is decreased under his presidency, this is all part of a green new deal fantasy where they try to get everybody in electric vehicle and get rid of the energy production we have in this country which does nothing but drive up energy costs for american citizens. ashley: another one for you. interesting, treasury secretary janet yellen admitting president biden does not have a plan to save social security, listen to this. >> has t

edward lawrence sat down with a treasury secretary janet yellen with an exclusive interview that we willill be watching a very carefully. robert hur shutdown claims that he exonerated the president. watch this. >> you exonerated him. i know willful retention. >> we will follow up on that. jason rantz will follow-up, priscilla jayapal failed miserably. he is next. ♪ business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. stuart: congresswoman pramila jayapal tried to get robert hur to say he exonerated president biden. watch the. >> this expensive and independent investigation resulted in the complete exoneration of president joe biden. he found insufficient evidence that the president violated any laws about possession or retention of classified materials. >> i need t

. ♪♪ ♪♪ ♪♪ >>> treasury secretary janet yellen touring a solar plant in georgia this afternoon. at secretary yellen had to say about china. >> so in a speech just getting underway this afternoon, janet yellen is taking aim at beijing over what she sees as overproduction of several key technologies. solar, electric vehicles and lithium ion battery. she'll be pressing chinese officials to address overcapacity during her upcoming trip. she'll make it a key issue in discussions arguing excess capacity in these industries hurts not only american workers and firms but china and the global economy. the issue as yellen will lay out is that chinese overproduction in government subsidized industries has led china to sell products abroad at reduced prices. makes it harder for other countries to compete. part of her concern now is the u.s. has seen this play out before with solar panels. to emphasize this point she's delivering these remarks inside a facility that produce solar cells in the u.s. before declaring bankruptcy seven years ago due to a flood of cheap imports from abroad. the comp

that was treasury secretary janet yellen sitting down with edward lawrence on an exclusive interviewthe state of the economy since president biden took office. and suggesting inflation will not be on a "smooth path" from month to month. ok, wow. what a prediction. robert wolf is a former economic adviser of president biden, and founder of 32 advisers, and steve moore is here, brilliant economist and senior adviser to the trump campaign. robert wolf wanted me to lead in with he's been right all along on this. but when it comes to spending power, robert, i'm going through the list. you want to talk about wages up, jobs added, stock market up. gobbled up, car prices up, electricity up, gas utilities, up 30%, gasoline up 30%, food prices are soaring. so, it's tough to listen to that and think wow, gosh, americans are a whole lot better off announcement. >> that was a great interview that fox did and i'm glad she was dead wrong on the inflation being transitory as we talked about for a whole year. listen, it's accurate purchasing power is better over the last year because wages are doing

>> yeah, treasury secretary janet yellen says inflation will come down.'t think stagflation will take hold mainly because of rent prices and the lag in rent. when new rent leases are signed, that will then drag inflation down. delinquencies in credit cards have moved up. that is from historically low levels though. >> i see that as a normalization rather than a disturbing new trend. >> it does seem like prices are higher when president biden came in to office. what do you say to the family using their credit card to pay for food or could lose their home because of debt with the higher prices? >> i think the single most important metric to judge how households are doing is their spending power. >> more people are spending, racking up 1.13 trillion in credit card debt. that is a regard in this. the federal government is also racking up some debt related to this. 34 trillion is the national debt. so i asked the secretary about the president's proposal in spending 7.3 trillion for fiscal year 2025. listen. >> even if you add up the deficits from now through 2

janet yellen, she is ramping up for a trip to what almost seems like the biden administration's secondr desire not to shut down economic relations with china. many american firms operate in china and gain from the ability to sell to china's large market. we want to stabilize that relationship. not shut it down. >> laura: okay, gordon, your reaction to that tonight? >> well, what is janet yellen going to say now that she didn't say about three or four months ago when she went to beijing? i think the problem here is that we want to manage the relationship as the biden administration says, but the chinese don't want to be managed. as a matter of fact, they take the biden administration's efforts and sort of a sense that we feel infewer year to the -- o the chinese send thought capital. the businessmen by the way they were all men today when they went to see xi jinping. they were participating in the chinese communist spectacle that was sort of reminiscent of what foreigners did in the elm pearl they kissed the ring, they did bough and showed loyalty to the chinese rulers. this ask a hideo

switching gears to follow from janet yellen's congressional testimony where she revealed president bidenas quote, no plan to fix social security not just principles. edward lawrence also the white house with details. >> a shocking revelation, the treasury secretary janet yellen testified the president has no plan to fix social security. the benefits come in two stages, two parts, the old age and survivors insurance trust fund and disability insurance. reserves in both of those fronts will be depleted the end of 2033 and benefits are reduced by 20% for 2034 if nothing changes. the benefits for the produce by 26% without a fix. inflation keeps rising, here's the secretaries testimony. >> the president doesn't have a plan, he has principles, he wants to work with congress to find a way to protect social security and extended solvency between -- >> at the president wishes to work with congress, why does he continually demagogue republicans on anything that doesn't exactly line up to what apparently suits his reelection? >> treasury spokesperson clarified the secretaries testimony saying the

. >> and treasury secretary janet yellen testify on president biden's 2025 budget request the economiciations subcommittee hearing live at 2:30 p.m. on c-span three. c-span and now are freed mobile video app or online at c-span.org. unfiltered view of government that we are funded by these television companies and more including comcast.■ comcast is partnering with 1000 committee centers to create wi-fi enabled so students from low income families can get the tools they need to be ready for anything. comcast support c-span as a service. giving a pharisee to democracy. >> house oversight committee continued its impeachment inquiry into president biden by hearing testimony from two of hunter biden's formerthey spoker interaction with the family alleged

janet yellen spoke with fox business' edward lawrence on inflation. this was yesterday.t look at expect this to be a smooth path month to month, but the trend is clearly favorable. that said, president biden's top priority is addressing the issue of high costs that concerns so many americans. stuart: it was a heavily hedged position. newist peter morici joins me no. producer prices up 1.6% over the last year. where does peter morici see inflation going from here? >> i think inflation is going to stay about where it is in terms of the cpi and the personal consumer price index at around 3, 3.5%. the reason for that is inflation in the services sector are is becoming very, very stubborn, and we're starting to see those expectations that mr. powell says are anchored, firmly anchored at around 3. in fact, the lowest measure of that was put out by the new york fed, and that is now rising up to be in line with what the conference board has and the michigan survey and so forth9. so my feeling is that people expect 3% ininflation. service providers are pricing 4 or 5% in which is

ashley: treasury secretary janet yellen and biden's economic adviser jared is bernstein on capitol hilluestions from lawmakers on the state of the economy. edward lawrence joins us this morning. 'd ward, what can we expect to hear today? >> ashley, we can expect them both to say that the president doesn't get enough credit for the economy that he's in charge of, although some would say the president gets all the credit as we struggle to pay for the same things we had three years ago. treasury secretary janet yellen will be in front to have the senate finance committee talking about the proposed fiscal year 2025 budget. it calls for tax increases and increased spending from this year. non-defense discretionary spending would be with increased by $28 billion. the defense spending would increase by $16 billion. no cuts to any of the president's domestic programs, and the tax increases still leave the deficit $1.8 trillion. can you tax your way into prosperity? >> well, look, i think deficits, we need to be on a fiscally sustainable path, and it's important to bring down deficits. it's also

secretary janet yellen set to testify on the stability of the financial system. you are watching live coverage, here on c-span3.

tune into "andrea mitchell reports" at noon for her interview with janet yellen. first up, jose diaz-balart picks up our coverage right now. >>> good morning. it is 11:00 a.m. eastern, 8:00 a.m. pacific. i'm jose diaz-balart. we begin this morning with the latest developments following tuesday's tragic bridge collapse in baltimore. there is now a recovery mission under way to find the bodies of the six missing construction workers who are now presumed dead. the six workers include people from honduras, mexico, guatemala, and el salvador. this morning, maryland's governor, wes moore, addressed the loss of those six individuals. >> we had a chance to speak with their families and pray with them, for their families. they just reminded me of who they were as people. they were fathers. they were sons. they were husbands. they were people who their families relied on. >> joining us now from baltimore, nbc's tom llamas and tom costello. tom llamas, we're learning new details about those victims who are still missing and presumed dead. what more can you tell us? >> report

sonali: it is incredible, the stanek -- janet yellen and stanley druckenmiller issue. we talked about how the repo markets have seen stresses, it should not see stresses. it has impacts on the broader capital markets. whether it is any strains in the repo market you could see or higher interest rates, you advise companies on bankruptcies. in future distress. what does the worry look like under the surface? >> it is a function of the higher interest rate environment we are in. corporate america, if they were smart during a low interest rate environment that prevailed up until the pandemic and through the early part of the recovery, before the fed started raising interest rates to deal with inflation. as that low interest rate debt that was incurred over the last 10 years matures, companies are refinancing in a much higher interest rate environment. i think the interest rate environment will stay higher for longer. in part because of inflation not being where the fed wants it to be. and a part because of the stimulative effect of deficit spending in washington as far as