>> i've not been part of an f-soc discussion of this. but it obviously is a significant, significant issue for the long-term. >> a short amount of time. when do we get to the long-term, chair yellen? when are we there after seven years and adding $8 trillion in debt over the last handful of years. when do we get to the long-term? >> the economy is recovering. i'm pleased by its progress. as i indicated, my colleagues and i think if the economy progresses, as we expect, we probably will begin to raise interest rates sometime this year and that takes us toward the long-term. >> how does that affect our current debt? chair yellen? >> well two ways. higher interest rates will raise the cost of servicing the debt. but a stronger economy, which is what will cause us to raise interest rates, the stronger economy whose tax receipts and is favorable for the federal budget. >> time of the gentlelady has expired. chair now recognizes the gentleman from michigan, mr. kildee. >> thank you, mr. chairman. chair yemmillenniu yellen, than being here. i'm

we always show a video of this month in parks and what happened in park in honor of the bay socs. we had espn do a little filming for us. if you can queue the lap top. >> sequence turn 13 the coach told me he didn't want me on the team and girls play soft ball and that is when i decide i won't quit. [inaudible] she is already broken down so many barrier jz proven girls can play the sport. she opened up so money door squz girls have nor opportunities than we used to. [inaudible] national tournament for girls is long long over due. there is nothing as empowering feeling you are no longer alone. i never see girls play because there no girls in texas. i have never seen so many girls playing baus ball ever. all the kids from 8-13 is awesome because they all believe inl themselves and each other and their dreams. [inaudible] this is not a new phenomenon. girls and women have played base ball since there beginning of base ball. when we played ball we did want know what we were doing, we were just happy to be on the dimands getting the opportunity to play. to this day every time i come ou

but it can be labeled as progressive, i guess, or soc ially progressive. but the congress agrees with me. >> walk us through your schedule. what is it like when you are here in washington and when you go back to your district? representative ashford: when i was in the cameras, i would always avoid my friends in the lobby by jogging. no lobbyist would ever job with me. -- jog with me. it sounds simple, but that is newborn part of my day. i do things around that. -- that is an important part of my day. we have had a nebraska breakfast going on for 70 years -- every week we have 150 people every wednesday for breakfast. i certainly go to that. one of the things i try not to do is fund raise when i am working. the big thing is calling people on the phone for money all the time. it is a terrible distraction. not only does it get your mind off what you are doing to something that is not why you're here, so i want to avoid -- i don't want to miss a hearing or anything to go to raise money. i try to keep up with the man's and fundraising. it is what i absolutely b

. >> women's soc >>> artists like these guys from all over our region are hoping metro will give themheir big break. musicians singers and dancers also auditioned this evening for a chance to perform outside metro stations. those selected may get a chance to perform at music on the mall during a lunchtime performance series. >>> another audition tonight. he has no job, no car lives a home with his parents. >> these are all big red flags. that's why i don't get much attention on match.com. i do, however, have a lot of success on tender, where i am a buff 28-year-old georgetown medical student with a portion from a trust fund. >> wowing the judges on "america's got talent." made them laugh with stories about his love life. on we live in a pick and choose world. choose, choose, choose. but at bedtime? ...why settle for this? enter sleep number... don't miss the lowest prices of the season, going on now sleepiq technology tells you how well you slept and what adjustments you can make. you like the bed soft. he's more hardcore. so your sleep goes from good to great to wow! only at a sleep

soc)wretl ñr;!> t<4xó "wñkk qs f1 o >> virginiaof zócñ senator says catherine archuleta has to go.ople wek6p k"z neighbors and 1"# oommates. and a lot of their information.h9:sÑj it's time to fire the head of the agency. but archuleta says she won't step down and president obama still backs her. jim? >> thank you, chris. we can tell you tonight what you can expect tomorrow during the 10:00 a.m. confederate flag removal ceremony in columbia, south carolina. nbc news reports tonight there will be no speeches. state troopers will simply walk out of the capitol, lower the flag, and walk it back inside. south carolina governor nikki haley signed the bill today to take down the flag and relatives of the charleston church massacre victims are relieved. >> it was just a symbol that our grandfather and the other victims did not die in vain. >> every time i think of my wife and the other eight people i can't think of a better thing to happen than that flag coming down. >> you see in this picture state police and barricades now surround the confederate flag and monument in columbia. tonight w

for retailers and beens with want to engage with customers and get them to buy products whileening socthis is a huge morning for the gma family with ginger having a baby and she is revealing this morning if she is having a boy or gi >> do you think that blue means anything? it is a boy pore gyp jury -- boy for ginger and her husband and is celebrating with big blue balloons and cake. more on the expense of becoming a mom on "gma," at 7:00. >> nice to see how happy and not tired they are. >> well will wait until the early wake-up call. hopefully she handle it well. >> getting early wake-up call this morning with cooler temperatures compared to yesterday. >> we will look at a reason why it feels cooler, also, not only the temperature is down 12 degrees but the dew points are back in the 50s where yesterday they were in the 60s and that is all due to the sea breeze that is back. we have a few patches of mid-level moisture moving inland east bay neighbor around san ramon, danville and livermore and pleasanton and a few sprinkles are possible and drizzle is possible along the coast but the

there are several that have been designated for supervision by f-soc or that are also subject to enhanced supervision. >> switching gears we've had discussion on this as it relates to employment. most economists say 5% is full employment. right now you three, is 5.3%. so we're pretty close there. why do you think we haven't had we haven't felt that wage growth yet. and what do you think needs to be done to feel that? >> first of all i think there is more slack in the labor market than you would think by the 5.3% measure. somewhat more. and i've pointed to the very high levels, unusually high and we dale this in the monetary policy report. the fact that involuntary part-time employment is unusually high, given the unemployment rate, so that's one factor. in addition, i think that labor force participation while it's mainly declined for demographic reasons, there remains some component of depressed labor force participation that does reflect a weak economy, a weak labor market that more people would rejoin the labor market if it were stronger. so to my mind, the u-3, the.5.3, somewhat overs

thirdly, a switch to optional for provisions and socs, title 9 and with respect to the williams act. that's already an approach that some parts of title 9 has taken. i think it's perfectly reasonable and exciting. i think in these uber lift crowd funding world i think we need a modern corporate governance system. and getting rid of the overhang will be key there. >> thanks. mark. while mark is getting up there, j.w. mentioned the unpredictability of future innovation, of course. surely the financial stability oversight council can predict all of this innovation. >> right, sure. >> mark. >> i have a comment i think i have heard a new phrase. free market securities lawyer. >> there's two. hopefully a growing trend. first, let me thank peter and alex. i really appreciate the invitation. as laid out, we're going to be taking different sections. i will take parts of title 9 that j.w. did not talk about. and title 10. more specifically, the credit rating agencies. you think about moody's standard & poor's, fitch. and then i will talk at the end about the qualified mortgage rule and qualifi

but it can be labeled as progressive, i guess, or soc ially progressive.gress agrees with me. >> walk us through your schedule. what is it like when you are here in washington and when you go back to your district? representative ashford: when i was in the cameras, i would always avoid my friends in the lobby by jogging. no lobbyist would ever job with me. -- jog with me. it sounds simple, but that is newborn part of my day. i do things around that. -- that is an important part of my day. we have had a nebraska breakfast going on for 70 years -- every week we have 150 people every wednesday for breakfast. i certainly go to that. one of the things i try not to do is fund raise when i am working. the big thing of course is calling people on the phone for money all the time. it's a terrible distraction. not only does it get your mind off what you're doing into something that is not why you're here , i try to not miss a hea ring or anything to go raise money. i try to keep up with the demands of fun raising, but doing it outside my course is what i believe in.

now, when f soc is trying to determine what bank and other nonfinancial institution should be designated too big to fail it means that the taxpayers we will have to step in and bail them out. we all no they're is a huge difference. they handle their retirement the retirement savings for millions of americans with no systemic risk to the economy. the former director of the nonpartisan progression -- nonpartisan congressional budget office's calculates that if asset managers have to comply with too big to fail regulations with no systemic risk imposed to the market will drive up the cost of there operation to the extent with a long-term a return that they can generate millions of americans in this country who are saving for the retirement date by about 25%. i don't no about you but where i come from 25% is a lot of money. can't we agree, chair yellen, right now that it agree, cherry yellen right now that it just does not make sense for non-bank financial institutions that pose no systemic risk to the market like asset managers should escape this .-dot frank regulation that penalizes savers

house order she was wearing a helmet at the time they searched the area immediately a search all my socnot wrapped in an effort to rid of these third drop in that search and rescue teams pick the person from the apartment complex all the way to the beach about 2 mi. that is a 2 mi. span but no luck at this point they do not believe foul play even though everyone is scared. >>will tran: the have never met her and never met her family but they fell so compelled and santa cruz to do something we talked will volunteer she and her friends to see area around all night with no luck at all right now the search and rescue teams have not call for volunteer and a they want to handle this the sea more them arriving to this location wants to have a news conference will bring to you live as it happens but of course where 15 hours into this so far no look. >>darya: the pick the percent what type of a beach area and does that mean they're doing all water search? >>will tran: and they did not say to be on the we got the information from the santa cruz county sheriff's office they're the ones who told me

thirdly, a switch to optional for provisions and socs, title 9 and with respect to the williams act. that's already an approach that some parts of title 9 has taken. i think it's perfectly reasonable and exciting. i think in these uber, lyft crowd funding world, i think we need a modern corporate governance system. and getting rid of the overhang will be key there. >> thanks. mark. while mark is getting up there, j.w. mentioned the unpredictability of future innovation, of course. surely the financial stability oversight council can predict all of this innovation. and know what to do. >> right, sure. >> mark. >> i have a comment i think i have heard a new phrase. free market securities lawyer. sounds like a contradiction in terms. hopefully a growing trend. first, let me thank peter and alex. i really appreciate the invitation. as laid out, we're going to be taking different sections. i will take parts of title 9 that j.w. did not talk about. and title 10. more specifically, the credit rating agencies. you think about moody's, standard & poor's, fitch. and then i will talk at the end

just hasn't gotten the memo about the faa and then thirdly, a switch to optional for provisions in socs and with respect to the williams act. that's already an approach that some parts of title ix have taken. so i think it's perfectly reasonable, i think it's exciting. i think in these sort of uber, you know, lift crowd-funding world, we need a modern corporate governance system, and getting rid of the federal overhang will be key there so -- >> thanks, j.w. mark? while mark is getting up there j.w. mentioned the unpredictability of future innovation, of course, but surely financial stability oversight council can predict all this innovation and know what to do. >> right sure. [laughter] mark. >> got a comment, i think i now have heard a new phrase, free market securities lawyer. sounds like a -- >> me and hester, the only ones. >> just two. hopefully, a growing trend. first, let me thank peter and alex i really appreciate the invitation. as was laid out, we're going to be taking different sections so i'm going to take parts of title ix that j.w. did not talk about and i'm going to talk