please welcome treasury secretary janet yellen. y yellen, good to see you again. are you ready for this? i'm bringing out hot and hard. on monday will be the dramatic conclusion of the biden administration with a bit of a twist ending. are you sad to leave? are you ready to relax? what are you going to do? >> secretary yellen: it's bittersweet. i have a wonderful team. we have worked so well together. i'm going to really miss them. we will all miss one another. but we feel proud of what we've been able to accomplish. recently the economists of the u.s. economy is the envy of the world. [applause] is firing on all cylinders. >> stephen: why do you think -- this past election made it clear that 49.9% of american voters don't agree with you or don't agree with the economist and that the economy was, according to polling, one of the biggest reasons why people put donald trump back into office. why do you think that message about the good economy, as you say, the best economy in the world right now especially of the advanced nations, cam

well, chinese hackers gained access to top treasury official files including janet yellen's files. >>luding some belonging to yellen were part of the breach. the attack came through a third party vendor, targeted agencies like the committee on foreign inveinvestment wall street jourl says china makes up 27% of the world's goods when it comes to exports. we shall see and production. capital one facing a lawsuit from the consumer financial protection bureau, claiming the bank cheated customers out of 2 billion in interest, the suit claims the financial firm promised top savings rates but failed to tell customers about better higher yield options, some accounts frozen at 0.3% rate as new accounts saw offers above 4%. capital one is denying the allegations. taking a look at the stock this morning, slightly higher. macy's is sticking with its luxury brands, bloomingdales and blue mercury despite investors calling for a spinoff of the brands. the ceo says the brands are growth engines and benefit from being connected on shared operations land strategies. investors think the brands could be

janet yellen, to suppress yields on the 10-year, now why does the 10-year matter so much? consumer interest rate is based off the 10-year. if they spike you could have a wicked slowdown in the economy. it's to suppress that, she essentially rolled over debt issuing short-term papers so you wouldn't have to issue any 10-year debt. that is starting to freak out bond traders because they know they have to at some point refinance that and that's a massive amount and you'll pay higher interest rates. you'll get the picture and that's what we have right now. now how could trump counteract this? larry kudlow was quoted in the story, our esteemed colleague, and he makes good points. free market policies could help tax receipts come into deal with the deficit, unleash the doge boys, elon and vivek to start cutting waste. that could help. be the salesman that you are, donald trump. because remember bond market works on perception. tell the market we get it. we're looking to cut stuff, and i think that's where we're going with this. if he does that, he might be able to put the genie

in one of her last interviews before leaving office, treasury secretary janet yellen said the stimulus spending during covid may have contributed to inflation. secretary yellen today spoke with cnbc talking about the covid 19 pandemic and how she believed the $1.9 trillion covid relief bill was necessary to help people. although she did say it probably contributed a little bit to inflation. yellen went on to say supply chain problems were the main contributor to inflation in the past four years. president elect trump has tapped hedge fund executive scott bessent to take over the treasury. meanwhile, the dow jones rebounded today, rising by aut 106 points. the nasdaq fell by ten. the s&p managed to gain about nine despe that gain. it looked like all three were headed towards a weekly loss for the second week in a row. okay, wicked continues to earn accolades. the latest news the cast learned they are headed back to the red carpet. the screen actor awards, or sag, shared its nominations today. the film landed five nominations. that includes one for best ensemble and individual nods for l

it's now very close to normal. >> so, daniel, your take on what janet yellen had to say. >> the last pe with inflation on a year on year was 2.8%. frankly, it has been at that rate for many months now similar to the eurozone. we don't see the deceleration that you want to see at the same time, central banks are forward looking. they are not supposed to be taking positions on what is happening with inflation right now, but in 12 months. from that point of view, you may see the deceleration of inflation. if you look at market measures, there is more skepticism how quickly that will happen >> daniel morris of bnp, thank you very much. >>> coming up on "worldwide exchange," my next guest says is a buy. >>> first, the latest on the deadly wildfires that are forcing tens of thousands of people to evacuate. >>> plus, the economic legacy of president carter and what people can learn from his four years in office more "worldwide exchange" coming up right after this. he has 3 comments 2 memes and 4 emojis to contribute. a flood of positivity... during every. single. meeting. but oh how his pas

treasury secretary janet yellen here, live from thtre easury.com g7 is the most accurate cgm, so you can manage your diabetes with confidence. ♪♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job on indeed, it's easier for talented candidates to find it. which makes it easier for you to hire them. visit indeed.com/hire >>> one of the biggest trends in the market over the last year is the convergence of key tech, that's all thanks to the booming artificial intelligence. now could nat gas be a possible beneficiary? we're going to talk to a trader. tune into our market navigator segment later today on "power lunch" at 2:00 p.m. you know carl is the only frontman you need... oh i gotta take this carl, it's schwab. ♪ schwaaaab! ♪ have a choice in how you invest with schwab. >>> the statements coming from the ceo of west steel called the president of the united states corrupt. as an american, i feel offended. this is just absurd. >> that was the ceo of cleveland cliffs last night on jim cra

a lot of it is short-term debt, particularly under janet yellen. lot of investors focused on that aspect of things. dani: the -- longer-term is going to be going higher, so now is the time you want to do that. scott bessent, a lot of people criticize janet yellen for concentrating in the people part of the market. it means a lot of dead is coming due in a short maturity. scott bessent said he wants to terminate out, but also not have longer-term yields go up too much. i'm not sure how you can do both, because it is a supply issue. annmarie: he has thrown a lot of daggers at secretary yellen, saying they are trying to juice the economy by holding down this long term debt issuance. he will be asked, will you be regular unpredictable in your approach when it comes to debt issuance? jonathan: yields aggressively lower yesterday. up by a couple basis points. in the next 60 minutes, sameer some mono of wells fargo, tom fitzgerald of td callan as southwest faces a lawsuit over flight delays, and richard clarida on the latest economic data. we begin with s

another big story i'm following for both of you, this issue is treasury secretary janet yellen.morning, classified briefing on capitol hill yesterday with house financial services members and politico says in the briefing, officials from treasury and other law enforcement groups told lawmakers hackers from china accessed small number of unclassified files that belong to several top officials, including janet yellen, treasury secretary. so this is all huge hack that we talked about last year, september 30 and november 18th and looking for records from sifius and council on foreign investment. what does china want? as much data about our activities and there is a financial angle to be clear. >> carley: no doubt. thank you, don't miss cheryl on fox business network. president biden during his farewell address sounded alarm on future of artificial intelligence and how it will impact our economy. >> artificial intelligence is most consequential technology of our time, perhaps of all time. nothing offers more profound possibilities and risk for our economy and our security, or society

like he would be a supporter of tough tariffs on china. >> on that point seeming to align with janet yellennd warning about a flood of exports out of china. valerie tytel, thank you very much indeed, breaking down what will be heard from scott bessent. wall street's six largest banks returned $100 billion to investors last year, the most since 2021. the blockbuster earnings next. this is bloomberg. ♪ >> bank of america's fourth-quarter profit has exceeded estimates boosted by high fees and strong net interest income and morgan stanley also seeing fourth-quarter profit more than doubling. what stood out to you, charlie, from these numbers? >> superlatives for wall street's biggest banks. jp morgan was the first bank in u.s. history to clock $50 billion in annual profits and goldman sachs equities trading desk at their best quarter on record and we heard citigroup will be buying back $20 billion in shares and that's an interesting trend we have been reporting on, which is that last year those large banks return $100 billion in buybacks and dividends and that speaks to something interesting we

the outgoing us treasury secretary — janet yellen — has warned that donald trump's plans to tax importsnsumers. mr trump has proposed a 10% tariff on all imports — rising to 25% on goods from canada and mexico until they clamp down on drugs and migrants coming into the us. he's also threatened a 60% tariff on all chinese goods. michelle fleury has been speaking to the deputy director of the national economic council under the last trump administration. he told her the president—elect is serious about tariffs — and could move very fast once he returns to the oval office next week. so in the first term, and i was part of these debates, we had a lot of deliberations about tariffs and whether they should be used, how they should be used, what statute should be used. and today we're in a position where it seems to be determined they're going to be used. so there's not a lot of deliberation about that. it's, you know, how often and to what degree are they going to be used? there's been lots of tariff talk from donald trump. he's threatened to impose a universal tariff from day one. he's talke

treasury secretary, janet yellen.l, this is incoming trump administration, folks, mulling o keep tiktok operating in the united states. more on this and more withby congressman jim jordan in a moment. but first, biden's bye-bye, than isd the focus of tonight "angl" the presidents tend to be at the core optimistic. >> mt y friends, we did it. we were not just marking time. we made a difference. we made the city stronger. we made the city for year. and we left it in good hands.re >> as for me, i will leave the presidency more idealistic full of hop e than the day i arrived.ve i have confidence in america because i know the people. >> we are warm don't think optimistic about the country then started. o >> laura: i got goose bumpsth watching all of that but thentr there is biden. >> i want to warn the country of things that give me great concern. this is tha dangerous contradiction of power in the hands of a few wealthy people.he the dangerouirs consequences if abuse of power is left unchecked. today, and oligarch is ext

it's -- what a janet yellen did, instead of issuing debt as debt matured when she was pressure thelyecretary and the $8 trillion that they added to the federal debt, she used mostly short-term instruments. so to keep the long end of the yield curve from going much higher, if you remember, something bad happened to to liz truss in the u.k. when long-term interest rates start ad to to go up rapidly. so this is a little bit of three card month ety, in my opinion, by janet yellen -- stuart: she rigged it. >> absolutely. stuart: she rigged the yield curve. >> yes. stuart: okay. i want to talk to you about nvidia. they've got new chips. you're telling me that they are three times the performance for the same price. is this the blackwell chip we're talking about? >> yes. stuart: or something else? >> yes. so everyone -- the main headlines i took away from jensen huang's speech at ces was this new laptop that was coming out. to me, that was a side show. what i took away from it was the amount of compute, the amount of power. if you think of it like a car, the v8, v12 the engine needed to cre

♪ maria: welcome back chinese hackers gaining access to top treasury official files including janet yellen, more information about the attack last year but the chinese on the treasury more than 3000 files including ones that belong to janet yellen access during the breach, officials put the brief in place yesterday with house financial services, this is a close to classified briefing. we know the attack came through third-party vendor and it targeted top agencies like the committee on foreign investment, this comes as china posted a record $1 trillion trade surplus for 2024 that triples the level in wall street journal said china makes 27% of the worlds good from a production standpoint, it estimates it could be 40% by 2030 as you know president-elect trump has talked about 60% tariffs on china to stop the dominance. jeff bezos lou origin rockett the blend successfully launching this morning from cape canaveral after scrubbed attempt earlier in the week something bezos into the private space race challenging elon musk spacex, blue origin said the mission goal was simple, get into orbit saf

treasury secretary janet yellen.any this as incoming trump administration folks are reportedly mulling ways to keep china owned tiktok operating in the united states. more on this and a lot more with congressman jim jordan in moments. but, first, bitter biden, bye-bye. that's the focus of tonight's angle. ♪ now farewell addresses by our presidents tend to be at their core optimistic. >> my friends, we did it. we weren't just marking time, we made a difference. we made the city stronger, we made the city freer. and we left her in good hands. as for me, i will leave the presidency more idealistic, more full of hope than the day i arrived. >> i have confidence in the promise of america because i know the character of our people. >> i leave this stage tonight even more optimistic about this country than when we started. >> laura: got goose bumps watching all of that again but then there is biden. >> i want to warn the country of some things that have given me great concern. this is a dangerous con -- that's the dangerous

was it janet yellen or pete buttigieg? >> where have i been? wow. how have i not heard about any of this? no, no, i'm with you. i'm totally with you. >> i don't know. >> i'm picking the one that i wish were true. oh, i wish this were true, but i don't think it is. if it's yellen, i actually think this is wrong. >> you're leaving office. you're not running for anything. have you ever inhaled. >> well i think the answer is yes. >> that's actually a better story. >> that's a better story. that's a better story. >> hi janet yellen. >> why didn't we do this on gutfeld. >> i don't know. it's been tough this week. >> we got a tie game last night. >> i'm sweating. just kidding. i've been sweating this whole time. the joy is back. >> president trump will be inaugurated monday and everybody's pumped. apparently, even this liberal personality who was caught doing the trump dance. oh, gosh, was it don lemon or joy behar? >> this is really a strong view on this. >> it's really hard to go opposite of you. okay, i'm going to go joy then. and this is it. this is fo

>> janet yellen on the conditions of china, the efforts to strengthen the relationship and to damage this relationship. [inaudible] >> you have watched this president really and the last year strengthen his relationship with the allies abroad. we have worked to strengthen our economic partnership. in touch with japan conveyed our thoughts to them. this is about, you heard me talk about now american owned and operated and this is what is important to this president, he's been very clear about that. that and making sure they are strong operating in the industry. for the resilience supply chain, how important that would be isolated at the top how if you look at the work that's been done over the last three years, it's still the strongest has been in years because of the action has done every day since day one to make sure we protect us. the husband believes we need major u.s. companies representing major shares of u.s. steel capacity and keep leading that fight on behalf oft of america's national interest and that's why the president made this decision. he's always been clear about that

urban affairs committee that that you sit on as well, demanding answers from treasury secretary janet yellenhow were china state-sponsored a hackers able to conduct a major cyber attack on that office that oversees economic sanctions? what, if anything, has your committee heard on this topic? >> we haven't heard a lot at this point. we will have hearings, i'm quite certain of that. part of the discussion has got to be who are we hiring to do our security work for us. are we using independent contractors hard capable? we have to -- that are capable? we have to recognize that china, who ises the source of these attacks, they are very good at cyber attacks. they are very good at getting into networks. we've got to be better. and that means a continued focus today to e day, every day -- day-to-day, every day, recognizing that threat is out there. if you let your forward down, chai -- guard down, china will get in. and that's exactly what happened in this particular case. the good news, it does not appear they got any classified information, but they probably did get some sensitive information. t

janet yellen mentioned that this question of spending, there is no room to cut spending. and the republican view on discretionary spending? director swagel: thank you very much. again, viewers and others can see our projections of discretionary spending on the one-pager. you can see the phenomenon that was asked in the question, that discretionary spending -- well, in 2025 we project total discretionary spending to be 6.1% of gdp, and that is below the 7.9% -- the 50-year historical average. it is as secretary yellen said. discretionary spending is already relatively low in relationship to history. in our projections discretionary spending is extended out over the 10-year budget window in a mechanical way. this is specialized through statute. we expect discretionary spending to increase through inflation, but there is no policy judgment. you can see in our projections the total discretionary spending declines from 6.1% this year to 5.3% of gdp at the end of the 10-year budget window. that is just because nominal gdp rises by more than inflation, right? we have some positi

treasury secretary janet yellen says the u.s. is taking this action against russia's key source of revenue for funding its brutal and illegal war against ukraine. for the second time this week, a judge has found rudy giuliani to be in contempt of court in 2023. a judge found giuliani guilty of defaming two georgia election workers. the court ordered him to pay nearly $150 million in damages. giuliani is appealing the verdict, but just last week, the judge found giuliani to be in contempt of court for refusing to turn over his financial documents. today, he is being held in contempt again. this time, it's for continuing to defame those election workers on his streaming show. that's despite a court ordered agreement saying he wouldn't. there is a lot going on from the nation's capital to la. here's meet the press moderator kristen welker, with a preview of sunday's show. as deadly wildfires ravaged california. i'll speak exclusively with democratic senator alex padilla about recovery efforts in his state. plus, president elect trum

janet yellen has for years. [inaudible] countering the conditions of china with allies the president's decision undercut efforts with the u.s. relationship. >> is not about japan. it is not. you have watched this president obviously abroad, we have worked together to strengthen her economic partnership with japan. we have been in touch with japan and conveyed our thoughts directly to them. this is about the need for you heard me talk about how now american owned an american operated. he has been very clear about that. this is about continuing that part making sure operate the industry. for national security and for our resilient supply chain, how important that would be. i also stated at the top, steel industry is the strongest. the strongest to make sure they protect that. the president believes we need major u.s. companies representing a major share of u.s. steelmaking capacity. to keep bleeding that fights on behalf of america's national interest. that's why the president made this decision. we've been very c

he and scott bessent will come across the same difficulties janet yellen and joe biden came across last term which is that every time you put in a tariff, it comes back to haunt the american consumer. that works now because the american economy is strong. will let happen again in say two years where the cycle can change? that's where i think scott bessent privately may be issuing some mornings that you can't go as tough as previously stated. tom: kriti gupta will be along with the team monitoring those european stocks in terms of the pharma space and autos on the back of this news. it was a bruising session on wall street, as fears around china's ai progress spark that tech selloff paid nvidia bruising close to $600 billion in market share. the biggest one-day drop in history. let's bring in mliv strategist mark cranfield for more analysis on this. the dollar stronger in asia today. is that a tariff story or an ai story? >> a little bit of both but probably slightly more to do with the tariff front. in fact it was a story that developed yesterday, as credit was saying earlier with the c

the treasury secretary janet yellen said the measures would hit a key source of funding for russia'sher visit to beijing will explore trade and investment opportunities in a bid to achieve the government's goal of growing the uk economy to boost living standards. conservative mps said reeves had "fled to china" as borrowing costs hit a 16—year high, but the government has defended her trip. i'm carl nasman in washington but before we go a reminder of our top story and we can show live images of los angeles as firefighters continue to battle those widespread wildfires, many still not contained and we will follow that story of course right here on bbc news. hello there. well, temperatures struggling to get much past freezing by day and once again, it is the coldest night of the winter so far. now, lots of lying snow, particularly for the northern half of the uk and there could be some issues with snow melt over the next few days or so as the air turns gradually milder from the north and the west. lots of flood warnings still in place. not too much rain falling out of the sky. it is goi

the treasury secretary, janet yellen, said the measures would hit a key source of funding for russia'ster. her visit to beijing will explore trade and investment opportunities in a bid to achieve the government's goal of growing the uk economy. conservative mps said reeves had "fled to china" as borrowing costs hit a 16—year high — but the government has defended her trip. before we go, let's take you back to los angeles, we can show you live pictures of the scene there. you can see those fires are still continuing to burn, and of course that firefighting efforts still very active. 0n firefighting efforts still very active. on this exact image we have seen helicopters flying around the area, dropping water onto some of those fires that are still burning, of course there are still several fires, five of them, that are pretty much out of control, only about 8% contained, one of them, others around 7%, around 3% for the fire in the altadena neighbourhood. this is a very active firefighting seen. the other battle in los angeles has to do with safety concerns, there have been reports of loo

the treasury secretary janet yellen has talked about insurance and countering the ambitions of china. do you have the provisions and the efforts to strike a relationship with our allies -- >> it is not about japan. it is not you have watched this president really, last four years, strengthen his you have watched this president in the last four years and strengthen his relationship with our allies obviously a broad and we have worked certainly together to strengthen our economic partnership with japan. we have been touched with japan and conveyed our thoughts directly to them. this is about the need . you heard me talk about now us steel, american owned and operated and that's what's important to this presidentand he has been very clear about that so this is about continuing back, making sure we are strong domestically , operating an industry and for our resilient supply chain and how important that would be. and i also say at the top if you look at the work this president has done over the last four years, the steel industry is the strongest it's been in years because of the actions t

thank you very much. 0utgoing us treasury secretary janet yellen has warned that the trump administration's trump has proposed a 10% tariff on all imports, rising to 25% on goods from canada and mexico until they clamp down on drugs and migrants coming into the us, and a 60% tariff on all chinese goods. michelle fleury has been speaking to everett eissenstat, deputy director of the national economic council under the last trump administration. he told her the president—elect is serious about tariffs and could move very fast once in office next week. in the first term that was part of these debates, we had a lot of these debates, we had a lot of deliberations about tariffs and whether they should be used, how they should be used, what statute should be used and today we are in a position where it seems to be determined they are going to be used, so there is not a lot of deliberation about that. it is how often and to what degree they will be used. has how often and to what degree they will be used.— they will be used. has been a lot of tariff _ they will be used. has been a lot of tariff tal

janet yellen voicing concerns simply that japan is the u.s.'s number one foreign direct investor.ship? you are concerns from the prime minister saying this could hurt some of the alliances around the approach to china and the south china sea situation and again you are seeing the other side of the situation is the likes of those who supported the decision saying this is how you keep energy and commodity security under the arm of the u.s.. one of the foundations in terms of building out the infrastructure of the u.s., designed and built in china, talking about tiktok and their appeal of a potential ban. there's a real risk it could be banned in the next few weeks. they are going to appeal it this week. you say there's a linkage. >> two completely different companies but the fact that they are both being reviewed for national security reasons is at the heart of the concerns. for china there's a clear narrative. it is american data in the hands of arguably america's biggest competitor. can you check all those boxes for japan? why are they meeting with those same allegations or checkm

but biden and kamala harris and janet yellen, 1.9 trillion deficit and rolling over deficit with short-termia does not appreciate this, we upgraded our economic team. so greatly, it is light years ahead of this, if you' evidence, read my column in post, how do you in a economic expansion, how do you get two trillion dollar deficit and spend in just couple mo months 30% of your basketball, and how do you do something so reckless, sell trillions of dollars of short-term debt to paper over deficit so you don't spike the 10 year, now traders are looking at, that trump will be faced with an issue. if i were he, who i am, i am a now body, you got the line into him, i would pound the table about vivek and elon and doge. larry: that is important, i think he will. >> that could put a tap, this is as you bond market a lot is about impression and expectations, if the bond market sents that trump does give a you know what about deficit, he will put a tap on that rise in the yield. larry: use lo elon musk and vivek ramaswamy get them w up thereas now. that's why at fisher investments, we keep a discipli

that's exactly where markets were four years ago with janet yellen. to be the centrist that took the progressive edges off what biden had made deals with, or deals with its progressive wing on, and that turned out very much not to be the case. annmarie: if i could just interrupt you, janet is not scott bessent. janet yellen did not come in with a relationship that scott bessent has had for years with president-elect trump. and at the end of the day what we saw from trump 1.0 is that he was regulated by the stock market. you would see some reports elite that quickly changed because of the reaction of that report to the stock market. do you still think potentially trump 2.0 is going to be regulated by with a dow jones industrial average is trading on any given day? terry: trump will be very influenced by what the markets think about what he is trying to do. at the same time i think what is going to end up happening is markets always think that that means they have the whiphand over trump. i don't think that is the case, particularly as it goes to geopol

tune in next week when i'll be joined by david schwimmer, janet yellen, and julia garner.

he was janet yellen's phd advisor. i thought we had put all this on the scrapheap of history, but it's back. if it's not working any better this time, i would argue probably worse, i would think we were confronted with that choice -- maybe we will get into my view of what you want to call it, bidenomics, bidenflation, bidenitis, like a cute disease, when i'm in a particularly bad mood i call it bidenism. i think on the others, we see from trump 1.0, it is not a strict adherence to reagan's principles, but it's a pretty good 21st century adaptation, and it really worked for everybody. i will bring it back to number three, but igniting the private sector and the kind of balance across all income distributions and per capita labor and growth that we had, i thought was phenomenal. that's number one. number two, i think, as an economic historian and someone who has been in markets for 40 years, i actually think i'm starting to look like it now, but i think we are also at a unique moment geopolitically, and i could see in th

senator josh hawley, sent a letter to janet yellen on december 19, 2023, one day after the announcementchime in quickly to do their job. the same three senators, vance, rubio, and hawley, they send another letter at this time to president biden basically telling president biden, president biden, five months have passed. use the number of -- i don't know the number from the top of my head. of the statute or another number of the statute to block this deal. use your powers. stop saying you have your back and things like that. he didn't do it. he took too long. that's why we are landing in this strange situation. we will resolve this. >> when u.s. steel was going to earn $4.64, you were willing to pay $35 for it. it's going to earn $1.35. it's not. let's stop kidding ourselves. maybe a $1. what is it worth if it makes a buck per share? >> i'm not going to go into this discussion right now. i think we have a much more important task to resolve on this thing. they have until february 2nd to pack and go. that's what the law says. like i hear a lot, they follow the law. they have to follow the

tune in tomorrow when my guests will be adam scott and treasury secretary janet yellen.

. >> what we need after talking about what janet yellen has done and only funding short term securities in order to win an election. scott bessent is smarter than that and cut his tops and currencies and knows this market and knows what to do if things go haywire. he's the smartest guy in the room. larry: he cut his chops on currency. i love that, taylor. john carney, taylor riggs and sandra smith. i tell you guys. catch sandra and coanchor on america reports weekdays at 1:0, along with cohost brian brenberg, jackie deangeles and dagen mcdaniel from noon to 2 eastern on the big money show. and read john carney any old time you want. >> yay. larry: i don't want to leave anybody out. coming up, how can donald trump use his energy dominance agenda to beat russia? pure and simple. all about lng, natural gas and oil. we're going to ask new pennsylvania senator dave mckormick when kudlow returns.mn ♪ i bet you can buy the whole team new cleats with all that money you saved. nancy dawson is passive progressive. you know, nancy, that's actually really inappr-- oh! nancy doesn't have progressive

. >> janet yellen is on the panel that was supposed to come to a consensus. his advisors that said you shouldn't block this deal. who is minding the tail right now? i don't know that biden is left clear mind to make these decisions. >> there to do what it did. advise the president on these types of acquisitions. they were deadlocked. by most accounts appears to be a political decision. against this position. this is not a super healthy company. going to provide it. >> fascinating story to us. thanks to both of you for being here. >> president biden pushing his climate agenda with one-foot out the door in a way that could make it difficult for the incoming trump team to overturn it. alaskan republican senator dan sullivan reacts next. >> this is the radical left environmental extremist and in his administration who don't care about what is in the best interest of the american people. the american people who just reelected president trump with a resounding mandate to drill' baby, drill.re (other money manager) how so? (fisher investments) we're a fiduciary, obl

where it could hit policy implications in the near term, and you have an issue where you have janet yellen writing to congress, saying the new debt limit right be hit around the time of inauguration, you have a speak about happening as we sit here now, how do you really parse through those critical moments when policy can start to up and the bond market a bit? ed: with respect to the debt ceiling, the treasury buys itself a little bit of time through these extraordinary cash management operations. i think they still have, perhaps well into the second order, to manage that. where it is going to impact us on the right side is with respect to the fed's balance sheet. we are going to start to see tensions in terms of excess liquidity, the lack of t-bill supply starting to attack the front end of the curve. when we think about further out on the curve i think the good news for now is we are going to have to wait for the ticket items. most importantly, tariffs and fiscal policy next year. sonali: so many people when they think about the federal reserve they think about that first and foremost fu

and the office of secretary janet yellen. all of this is in a washington post piece.gressman john mulinar who chairs the house select committee on china, he's demanding beijing pays for the hack, saying it's time for congress and the incoming trump administration to imposes crimpose spe escalating costs to deter the ccp. how big of a threat are these hacks? the chinese hackers are still emboldened. >> yes. well with, they certainly are. you know, we have seen one major chinese hack after another for decades. >>> we are on defense only and our defenses are not that good because the federal government doesn't mandate telephone companies, nine of which have been hacked recently, that they are adequate defenses. also, we don't impose costs on china and that's an issue. you know, costs don't have to be cyber attacks back on china. we shouldn't do that. we don't want to reveal our capabilities except in the time of war. but we can impose asymmetric costs like tariffs or other measures for instance. >>> we need to raise those costs so china believes it can no longer hack us.

government, fund trump's immigration and taxes and extend the debt ceiling with warnings from janet yellen already about a debt crisis. what are the thauds they're going to get things done with such a razor thin margin? >> look, i think what yesterday showed us is that this republican majority is just like the one we had in the 118th. they are unable to govern, and they are not serious about actually making progress on the issues affecting the american people, and so, you know, house democrats remain ready to have bipartisan conversations, making sure that we are doing the work of the american people. i know i was represented -- i was elected to still get things done for my community even amidst all of this chaos, and that's what we're going to keep trying to do, but i think it's clear that donald trump controls the republicans in the house and that, you know, they are going to be having just the same chaos and dysfunction that we've seen for the past two years. >> congresswoman, new year, hopefully some change. i understand that we might be stuck in a rut when it comes to the dysfunction

from trump's policies and growth doesn't always lead to inflation spending has led to inflation, janet yellendmitted that the budget administration covid stimulus money and all of their spending may have contributed a little bit of the countries mounted inflation, your thoughts? >> i want to know where she's doing her grocery shopping. that is ridiculous. a little bit i did a double take when i heard that but inflation at its peak was at 9% and we are still dealing with the aftereffects of inflation from the invite and joe biden administration. maria: mark kemper jumping. all of the $7 trillion of course it was too many dollars chasing too few goods. >> not only massive inflation but now we see there's going to be another impact. if we look at credit card debt last month. unexpectedly drop at a level that is consistent with the recession. what we talked about years ago. all the sudden a family of four and you get $12000 in a year and you use that to buy stuff it becomes very difficult with the 12000 is no longer committing to ratchet your lifestyle that were. you. a lot of the people to conti

they are reading biden and kamala harris and they are reading janet yellen and 1.9 trillion deficit andhort-term debt. you know, we were just talking. and the media does not appreciate this. we have just upgraded our economic team so greatly with scott bessent and lutnick and vivek and elon and it's light years ahead of this and if you want evidence read my column in the post. how do you in an economic expansion, how do you get a $2 trillion deficit? how do you spend in just a couple months 30% of your budget? how do you do something so reckless basically sell trillions of dollars of short-term debt to paper over the deficit so you don't spike the 10-year? and now, guess what? traders are looking at it and trump is going to be faced with an issue. now if i were he, i am a nobody, who got the line into him, i'd just be pounding the table about vivek and elon and the doge. larry: that's a good important point and i think he will. that's just what he's going to do. charlie: that could put a tap, because the bond market a lot of it is about impression and expectations. if the bond market se

reporter: still, treasury secretary janet yellen says that between now and january 23rd she could announcet implementing extraordinary measures to stretch taxpayer money so the government does not reach the debt ceiling before march 14. republicans now vowing to cut that wasteful spending. >> gives them immediate reversals of president biden's damaging policies lake reversing the ev mandate, reversing these ridiculous bans on offshore drilling, getting some of the money back from the student loans, and it requiring work requirements for medicaid. if we do that we can do a debt ceiling increase and get this done within 45 days. reporter: so in all president biden signed $7 trillion in spending into law that's taxpayer money, under his watch, the debt, the federal debt reached more than $36 trillion. stu? stuart: edward thank you very much indeed. economist brian wesbury joining me. is the student loan situation totally chaotic? they aren't paying back their loans are they? >> no. if you look at all of the list of reasons that you can give not to pay it back, you work for a government agency