yellen: thank you. chairman quigley, ranking member womack, thank you for inviting me today. i would say -- first i want to briefly discuss the state of our economy and the state of the treasury department. i believe one depends on the other. our economy is recovering from the pandemic. we still have a long road ahead of us. i expect economists will look back on this decisions to enact the american rescue plan very favorably. you have the option to provide a few -- where continued support to see us through the end of the crisis. thanks to its president -- aop and its right assessor legislation i'm confident we can get to the other side of the pandemic. americans need these dollars to reach their targets. treasury has been tasked with much of this work. the challenge is the portfolio has grown to match the urgency of this moment. our annual budget has not grown in tandem and something to provide -- to administer programs is temporary. our annual budget is still at the same enacted levels as 2010. critica

with yellen. it stirred up something that i think janet yellen probably did not mean to do. that is why she clarified her position in a later interview at a wall street journal event. >> let me be clear, that is not something i am predicting or recommending, if anybody appreciates the independence of the fed, i think that person is me and i know that the fed can be counted on to do whatever is necessary to achieve the dual mandate objectives. >> these were interviews. not speeches. she did not necessarily think these out. traditionally, fed chairs do not talk about fed policy when they leave. ben bernanke never talked about janet yellen's policy. this was a surprise. daniela will probably get back to her previous statement of not thinking inflation will be a problem and leave it there. >> she was saying a lot of things that many economists would probably say as well. as a fed chair, those words resonate as well, when can we expect to hear more? kathleen: she is speaking a lot, she has to. she is n

yellen: absolutely. we saw a robust consumer spending in the year, the stimulus checks getting out there stimulated a surge in spending. we are seeing surfaces begin -- services begin to pick up from very low levels. there is absolutely no question in my mind that the money the ar p has put out there and will continue to put out in coming months will boost spending. as things open with further success with vaccinations nad the pandemic, people traveling and spending what they did. -- we are still down 8.2 million jobs than where we were in february 2020. that's a big hole and it's going to take a while. >> what is your advice to the employers who say they are having difficulty finding workers? businesses having to compete with unappointed benefits, will that result in increased consumer prices? sec. yellen: i really doubt we're going to see an inflationary c althoughy all of the economists in the administers normalcle watching that closely. as my -- although all of the economists in the administration or

yellen. it was a faux pas. she played her mea culpa, but will we talk more about tapering than rate hikes more aggressively than we have done? martin: good morning. i think basically the important -- if we look at the entirety of janet yellen speech -- she made it at a conference held by "the atlantic." it is available online and goes on for 20 minutes. it is a wide-ranging speech. seven minutes in she mentioned that the economy could do very well. fiscal policy will be extremely active. and gave a positive outlook. in that, maybe interest rates would move higher, which is our main call in 2021, bearish bonds. that is music to our ears. the actual speech in itself and its entirety is more balanced than those four or five words that shook markets yesterday. i think that is why she walked that back. they want to draw a line between the treasury looking out for the dollar and fiscal policy, and the fed looking after the interest rate structure, and not jumping into each other's area. manus: musi

that yellen felt it necessary to address her position.is important to remind folks that she is no longer fed chair, but treasury secretary. the fed has to make it -- make up its own mind. i think they have done as much as they could to commit themselves to the idea that they will tolerate inflation increases. the fed has said it is a target. we will welcome inflation over 2%, if that is what comes our way. the thing to worry about which is what we are worrying about a few weeks ago is how markets react. it is not so much fed talk, as the twitching in the bond market. if that story has died down, the attention is we will focus on the policymakers. in the longer run, we know the big movements in the bond markets that would be really forcing their hand and test them, it will not be the inflation numbers. joe: we will watch for that. our thanks to adam tooze, professor of history at, be a university. you can check out a more expensive conversation with professor tooze, on the post cap -- podcast that i host. caroline: wherever you do get them

anything extra to say on secretary yellen?amazon top to bottom was down 8% paid you would've thought the world was coming to an end. jonathan: did not think much of it. tom: it's a little bit better. lisa: i know we will get to emily but what you make of the fact that janet yellen came out and clarified. seeming to edify concerns people have gotten away making assumptions. tom: we have an esteemed central banker is moved over to the executive branch prayed for some delicacies that have to be walked prayed that's all. -- walk through. that's all. tom: it's a rare comment from capital official -- jonathan: it's a rare comment from a capital official. i think that's what made it more powerful. we haven't had those words from the administration on the federal reserve at all. i think it's prudent to say we try to roll out a massive stimulus plan, huge infrastructure plan, this may or may not happen. tom: here is what matters particularly to the politicians. it's going on right now. emily wilkins, jonathan ferro knows it well. i'm l

janet yellen clarifies inflation remarks that rather markets. she said she is not predicting or recommending a hike in rates. president biden set a new vaccination target, 70% of u.s. adults to receive at least one jab by july 4. anz sees profit climbing. we will have an exclusive interview with the ceo, shane elliott. >> let's check wall street. u.s. futures coming online unchanged, after stocks were pressured. the s&p 500 falling to the lowest in a week on comments on rates. we saw the rotation out of tech into bonds. underperforming mega cap, the vix closing just below that 20 level. the dollar strengthening across the board, a two-week high. wti gaining ground in extending gains after reaching that seven-week high. we have reports of u.s. supplies falling. >> a muted start trading as markets are closed for holidays across asia. these are the futures, down. modest gains yesterday. we are seeing a strong performance out of the asx 200, closing in on that pre-pandemic level high of 2020. we are watching anz as it begins trading. the broader eco

i think yellen. she was appealing to the concept.in the market, perhaps forgetting it came from one of the biggest things in policy making. it serves to highlight what will be the focus of the markets in the second half. that is the timing of the fed taper, inflation expectations and stock valuations. stocks are rebounding at the moment, but how long will they be able to tread water? it is a big question given the valuations we are seeing. anna: just briefly, will the commodity rally continue? >> yes, i think we are seeing everything from oil to copper, with the exception of gold, that is that telltale message for some of the bigger economies that are getting stronger now. to me, it serves the focus on what these valuations have been, everywhere from commodities to stocks and everywhere else. anna: thank you very much. good to speak to you. copper is on the rise. that is it for that market open. "bloomberg surveillance: early edition" is up next. this is bloomberg. ♪ we know how much you count on us... ...and that's why we're here 24

treasury secretary janet yellen is walking back to the claim that the federal reserve may be forced to raise interest rates after her comments mark as a global sell off we have a lot to get to so let's get started. former president trump announced his long awaited return to the internet with a new platform just one day before facebook's oversight board issued an official ruling on the suspension of his account the board set it up held facebook's decision to suspend trump back in january on the basis that his post during the capital riot severely violated the tech giants rules and encouraged and even legitimize violence but while the board said the ongoing risk of serious violence justified this is spent in at the time it also said it was not appropriate for facebook to impose an indefinite suspension so joining me now that's what all of this means is boom bust co-host and investigative journalist ben swan now ben the board found that facebook and appropriately termed the suspension indefinite why is that right so it's basically parsing words here they say the term indefinite was inappr

here is what's ahead janet yellen says interest rates may need to rise modestly.sdaq gets whacked for a third day. we'll have a whole lot more on that >>> fiepfizer seeking approval. this as the company announces a big earnings beat. we'll speak to the ceo exclusively ahead. inflation hits the

struggling countries so why don't they now blaming china and russia that treasury secretary janet yellen is walking back to the claim that the federal reserve may be forced to raise interest rates after her comments spark a little sell off we have a lot to get to so let's get started. former president trump announced his long awaited return to the internet with a new platform just one day before facebook's oversight board issued an official ruling on the suspension of his account the board set it up told facebook's decision to suspend trump back in january on the basis that his post during the capital riot severely violated the tech giants rules and encouraged and even legitimize violence but while the board said the ongoing risk of serious violence justified this is the time it also said it was not appropriate for facebook to impose an indefinite suspension so joining me now that's what all of this means is boom bust co-host and investigative journalist and swan now ben the board found that facebook in appropriately termed the suspension indefinite. why is that right so it's basically p

treasury secretary janet yellen is walking back to the claim that the federal reserve may be forced to raise interest rates after her comments sparked the lobel sell off we have a lot to get to so let's get started. former president but now is his long awaited return to the internet with a new platform just one day before facebook's oversight board issued an official ruling on the suspension of his account the board set it up told facebook's decision to suspend trump back in january on the basis that his post during the capital riot severely violated the tech giants rules and encouraged and even legitimize violence but while the boards of the ongoing risk of serious violence justify the suspension at the time it also said it was not appropriate for facebook to impose an indefinite suspension so joining me now what all of this means is boom bust co-host and investigative journalist and swan now ben the board found that facebook in appropriately termed the suspension indefinite why. is that right so it's basically parsing words here they say the term indefinite was inappropriate because

you know, as soon as i saw the headlines a yellen's comments, and i didn't hear her speak directly, i went back and looked at an investor surveys we did in march. we've had so much focus on tap tapering, and most investors have started tapering in 2022, but not this year. we have all forgotten to talk about the rate hike side of the pictures back in our survey we found 45% of investors thought that rake hikes would not start until 2023, so perhaps that was a bit of a rude awakening for people who thought it wasn't even something that should be brought up in conversation yet >> i think you have to go back to the issue of -- the context is the idea we have to stop the economy from overheating if you look at consensus numbers, it's 4% we found that historically, in gdp is coming through, that's when value stocks work. >> all these big secular growers, those are the areas unfortunate to be selling if that economy is really going to stay hot >> thanks for having me. >>> speak of growth underperforming, as the cloud computing stocks, two of the big etfs in the space are having a rough week

janet yellen's inflation remarks rattle markets. the secretary clarifies she is not predicting or recommending a rate hike. an exclusive interview shortly with a and z ceo to break down the bank's earnings. commodities touch their highest level in almost a decade as a rebound stokes demand across the sector. haidi: let's take a look at the set up for markets across asia. sophie is in hong kong. sophie: japan, south korea and china offline midweek. it will likely be a muted sector. volatile moves fueled by janet yellen's comments. the greenback is holding on to gains near a two week high. check out the kiwi dollar. rising .4% on the back of first quarter jobs data. a beach from new zealand. we have a bunch of the asian pmi readings do. -- readings due. in australia i, futures pointing to losses. more upside is -- we are seeing wti extend gains above 66 bucks a barrel. this as we saw the bloomberg gauge of commodities index jump to a high. also keeping an eye on anz. we'll be hearing from the ceo later. we have data points out from au

secretary yellen, welcome to "meet the press." >> thanks so much. pleasure to be with you. >> let me start with what is on a lot of folks' minds at least in washington which is simply how do you pay for it. put it in layman's terms here, secretary yellen, how you believe the administration, what you guys believe is the best way to pay for these plans. >> well, first of all, we think the plans are extremely important and necessary to invest in our economy so that we can be competitive and have families and children succeed, invest in infrastructure, in r&d. and the things that shore up middle class prosperity, education, child care and health care. we've proposed to pay for these two packages by raising the tax rate on corporations above its current level of 21%, but keeping it under the level it was for decades at 35%, and to close loopholes that incent american corporations to shift their income abroad to tax havens. so right now corporate income tax amounts to only 7% of total federal tax revenue, and corporate income has increased as a share of g

yellen.t's about the voters, and there's no question the voters see inflation in gasoline and many of the products, including at the grocery store. jonathan: and if you've got a labor shortage, there's a pretty simple solution to addressing that. tom: you nailed it with your observation on montana. i missed that news item. what the governor of montana is doing, is that our future? jonathan: the governor of montana unveiling what he thinks is an incentive to get back at work and what he thinks is a disincentive to stay out of the labor force, addressing federal unemployment benefits. lisa: frankly, it shows the fault lines that have emerged between republicans and democrats, conservatives and liberals, when it comes to this stimulus that we could get or not get. how much can you do for people who have been left behind by the economy, particularly after the pandemic? jonathan: in the equity market on the s&p 500, we advance 14, 4172, up 0.3%. the market got hammered yesterday. crude, wti $66.40

yellen to the federal reserve board of governors. three years later he named her chair of the white house council of economic advisers. in 2004 secretary yellen began her third tenure at the federal reserve this time as president of the federal reserve bank of san francisco. from that post she spotted a whirring economic trend a bubble in home values, when the housing bubble popped in 2008 secretary yellen help manage the resulting financial crisis and recession. in 2010 president obama pointed her vice chair of the federal reserve before nominating her to succeed that chairman bernanke as the nation's top central bank of your cheek and take a couple of questions and as always i will be the bad cop. secretary yellen, thank you for joining us here. >> thank you, jan. hello, everyone. it's a pleasure to join you this morning. i will be pleased to take a question but first i thought i would spend a few minutes on the state of our labor market. without administration took office our economy was in ina state of crisis. i most pressing con

new turn secretary janet yellen reversing that her rates may have to rise. >>> it's not all about rates investors also on edge as china gets more aggressive over taiwan, with lit really more planes flying over the nation lately >>> a sad end in chicago as the trading pits of cme close for good >>> and the new rbi throwing a wrench in the carmakers' auto plans with how many go back to gas. it is wednesday, may 5th, this is "worldwide exchange." >>> well, good morning good afternoon and good evening and happy cinco de mayo, from wherever in the world you may be watching happy hump day as well, i'm brian sullivan let's get to it, china fears sent stocks sinking in a big way. big tech hit big time. the nasdaq down nearly 2% on tuesday. but it looks like right now we should have a slight rebound dow futures up 90. nasdaq futures, they're the ones to watch, up 60 points right now. now, let's focus on what happened yesterday when nearly every big tech stock, and the deal of the day, only the one you'll hear here on "worldwide exchange" and it's ugly. look at this this is yesterday. apple lost

media stock slammed again today, is time to unfriend these names we're digging in first, did janet yellen just put the market on notice that higher rates are coming >> it may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat >> just hours later, the white house backed that up >> treasury secretary janet yellen on friday, she said in remarks, that interest rates will have to rise somewhat to make sure our economy doesn't overheat does president biden agree with that. >> i think president biden certainly agrees with his treasury secretary. >> janet yellen said -- if anyone appreciations the independence of the fed it's me, but got us thinking, could higher rates be on the way, change in fed policy, perhaps pressure in the white house or change at the top with fed chair jerebko only - jerome powell's term ending -- what do you say guy. >> -- what's it mean i'm questioning the sincerity out of all these folks you mentioned jen psaki backed up the belief from the treasury secretary i'm not sure they knew what the question was about, number one, nu

i don't hear someone agreeing with secretary yellen.ar someone saying let's stay open-minded about this. lisa: the idea that it is a concern if markets get too ahead of themselves, this i think is being really exhibit hide and amplified by the road -- by the likes of robert kaplan, that this could pose a risk to the fed's plan to recovery. this is a crucial thing we are not hearing that much of from the fed. tom: thank you, lisa, for mentioning that. the clarifying point is dr. el= -- dr. el-erian and kaplan have enjoyed losing money. clarida is the same way. lisa: i've enjoyed losing money. [laughter] tom: you are right expert. -- you are an expert. i'm not an expert because i am in triple leveraged all caps, thank you. -- all cash, thank you. jonathan: wouldn't people like to see lisa on the fomc? [laughter] don't we need a legit hock back at the federal reserve? tom: it would be like the second coming of wayne angel. jonathan: what would be your original fed? where would you like to live? [laughter] lisa: oh boy. jonathan: there's mi

help struggling countries so why are they now blaming china and russia that treasury secretary janet yellen is walking back to the claim that the federal reserve may be forced to raise interest rates after her comments spark in the oval sell off we have a lot to get to so let's get started. former president trump announced his long awaited return to the internet with a new platform just one day before facebook's oversight board issued an official ruling on the suspension of his account the board set it up told facebook's decision to suspend trump back in january on the basis that his post during the capital riot severely violated the tech giants rules and encouraged and even legitimize violence but while the board said the ongoing risk of serious violence justified the suspension at the time it also said it was not appropriate for facebook to impose an indefinite suspension so joining me now to judge what all of this means is boom bust co-host and investigative journalist ben swan now ben the board found that facebook in appropriately termed the suspension indefinite why is that right right

suddenly janet yellen who doesn't have a vote on the fomc committee, right?he is treasury secretary, but was fed chair, she makes what she might have thought as innocuous comment. look at reaction in the market that is the fed's way to test what will be the reaction. how volatile are investors going to get. charles: kenny what are you buying here? >> so, listen i got to tell you i like consumer staple names. certainly in this environment. i like banks. jpmorgan, bank of america my two favorites consumer staple names f you're looking stability in big americana type names -- proctor & gamble, coca-cola, general mills. they're not sexy but stable. they're big american companies. they have 3 percent plus dividends. therefore in a downdraft these stocks will offer stability. while they may get beat up a little bit, they will not get beat up the way we watch tech stocks. amazon is down almost 7% since last week. charles: financials are up, materials are up, some of these smaller sectors, rob are higher. before we go i want your higher, you like the winners they hav

when i saw janet yellen's comments, i figured it would move the market all kinds of ways.eem to be -- i would guess the reason behind the drop in equities, but it hasn't moved the treasury market at all. the former fed chair saying to the atlantic it may be the interest rates will have to rise somewhat to make sure our economy does not overheat. it could cause some very modest increases in interest rates. now, if you take that at face value, she hasn't put any kind of timeframe on it, well of course she is right. at some point interest rates are going to have to rise. the question is when? may be the dumb money sees this a little bit differently than the smart money. amanda: meanwhile, i would file this under obvious. i don't think she said anything extraordinary. the bond market is struggling -- is shrugging it off. and a reminder that these markets, near record highs, have days where they move lower before grinding higher. matt: it could also be something that jay powell kind of wishes janet yellen hadn't said. it is kind of raining on his parade. it is blowing up his sp

secretary yellen thinks it interest rates will have to rise

janet yellen flip-flops on interest rates. stock market rebounds but don't make a mistake, biden will have a taxes with folks paid not to work. along with the stock market this is party time and a lot of money to be made. plus, facebook's oversight board will keep the ban on president trump for the future. we'll break down if it is even legal. deneen borelli also says she was targeted by big tech. to those on the fence starting a business, listen up. meet the 16-year-old business sensation, owner of a business is expanding, get this, is he hiring his friends. all that and so much more on "making money". ♪. charles: we're back! check this out. over the last 24 hours corporate america keeps weighing in. they're proclaiming one thing, this country is back, the economy is poised to get even stronger. caesar says weekends in las vegas are sold out for the foreseeable future there is a restaurant renaissance according to dine brands, ihops, applebee's. match.com, is quote, looking for a summer of love. some would say the market is b

yeah, look, janet yellen's comments - look, janet yellen's comments are one thing that what the fed actuallyer big g ten central banks such as the bank of england, they will do their best to be stoic and patient through this noisy headline inflation. inflation will care. we have supply line issues as the economy is open up but a lot of this will not be long lasting, it will be transitory, and one of the things we cannot forget is that all of these economies were locked down by decree. it is not a natural cycle. they are trying to get the growth cycle is back on track. in the us, there is something like nearly 8 million jobs that have not recovered yet so there is very little chance of threat of injuring or pernicious wage inflation at this point —— threat of ongoing or pernicious wage inflation at this point. stay with us on bbc news, still to come: pack your bags — jeff bezos�* space company will start taking bookings for its first space tourists. i, nelson rolihlahla mandela, do hereby swear to be faithful to the republic of south africa. after six years of construction and numerous delays

it's working so that we can hear janet yellen. responding to this jobs report today and how it galvanized attention for more spending. >> -- pre-k for 3 and 4-year-olds, and it provides up to 12 weeks of paid family and medical leave. with today's jobs numbers, i'm confident we will have a strong, prosperous economy this year and in 2022. but what about the rest of the decade and the years beyond? our country's long-term economic health depends on whether we invest in american families and workers, and i'm very hopeful we will. let me stop there, and i'd be glad to take some questions. >> so president biden suggested that the up creased unemployment benefits -- increased unemployment benefits have not affected the jobs report, but the chamber of commerce and some businesses are arguing it's easier for people to stay home than go back to work. how do you explain the slowdown in hiring that we saw in this jobs report, and is there talk about reducing that unemployment benefit in the future to get people back? >> so, first of all, i'

janet yellen is not some rookie out of washington.s public she knows exactly what she's doing in my opinion. >> tony dwyer. tony, thank you. >> thank you, sara. >>> lyft set to report earnings after the bell we'll tell you the key things to watch for in the market zone next we've got less than 20 minutes left of trading. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. experience capability, crafted by lexus. the remarkable gx and lx. lease the 2021 gx 460 for $529 a month for 36 months. experience amazing, at your lexus dealer. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediat

investors spooked by treasury secretary janet yellen after she hinted at rising rates as the economy recovers. later she walked back the comments. european markets are also higher. the ft 100 is up 80, cac up 56, dax higher by 195 this morning. in asia overnight, markets finished mostly lower, as you'll see here. fractional moves pretty much across the board. "mornings with maria" is live right now. ♪ wake me up before you go, go. ♪ don't leave me hanging on like a yo-yo. ♪ wake me up before you go, go. maria: now some of the top stories that we're watching this morning. as you heard here first, the biden administration moving thousands of unaccompanied children out of donna border patrol facility and releasing new images of the donnas facility. as i first reported yesterday and sunday, the department of homeland security moved those children into shelters run by hhs. it is a compound right next to the donna facility as you were able to see from our exclusive coverage from above the facility. there are currently 22,000 migrant children in hhs custody. the pictures there i shot of the

that is exactly what yellen and bidden are doing. jackie: the final problem, i will add this as we move on, prices go up, people stop buying goods, employees are laid off. we have a problem in the labor market too, gentlemen. we'll watch closely. president biden is pumping up his green agenda. he is touring the ford electric plant in michigan today ahead of western's reveal of ford's all electric f-150 lightning pickup truck r people ready for this kind of a transition? edward lawrence in maryland for us with more. hey, edward. reporter: hey, jackie. you know maybe not. new research is out there 20% of all electric drivers in california that had all electric cars, turned them back in for gas engines. one of the main reasons right here. they complained there weren't enough charging stations in convenient places plus these are expensive t costs too much to put inside of their homes. research was done by the university of california at davis. that is where the researchers were. they found 18% of the battery electric vehicles, hybrid ele

charles: so both president biden and treasury secretary yellen touting a big spending on that agenda very latest. reporter: hi charles the white house today making a two-fold argument in response to today's jobs report first off they are saying don't necessarily look at one month, it's just one data point instead they are saying look at the first three months of the biden administration, the last three months, they say, that number averages over 500,000 jobs gained per-month, and then secondly, they are saying that today's report shows that the american rescue plan, the $1.9 trillion relief package that democrats passed in march, is working. for example, the president saying today that the continued job growth proves that there is more need for more action, but, there's also a question about whether the enhanced federal unemployment benefits are actually hindering job growth. for example, as you were talking about earlier, the u.s. chamber of commerce recommending today that the $300 federal plus-up should end. economist douglas holtz points to that as a handful of factors writing "l

i think janet yellen needs to go to a grocery store. she notes to go to a hardware store and looks at -- and look at the hardware and lumber. americans are feeling this every day and last night, i was talking to a group and citizens from all of the chicago areas, they were saying, i am seeing higher prices at stores. the question i think, once you let this genie out of the bottle called inflation, can you stop it back in the bottle? we have learned that sometimes it is not easy to do so. the most important thing right now to make sure we do not see an increased inflation as stop spending money. no more at $2 trillion spending bills. i think biden wants two more $2 trillion spending bills. it is not complicated. inflation is too many dollars and we have a situation right now where we are turning out so much money that of course, economics 100 tells us will lead to higher prices and we are seeing it. host: we will get to your phone calls in a minute. (202) 748-8000 for democrats. (202) 748-8001 for republicans. you can send a text message

maybe something that fed chair yellen -- there i go again, it's treasury secretary yellen.ed chair jay powell. joining us, paul, we've had you on a few times, every time we've had you on, i don't know if we're asking for you to ring a bell but we're certainly saying tech's moved one way do you have a toe out the door maybe a little toe, not sergeant hulk a big toe at this point. >> i think after yesterday, you know, the fundamentals, as we get through the quarterly earnings season have been pretty strong i wouldn't buy too much tech at least this week because we have some more quarterly earnings to come, unless you know spot-on what they're going to report and what they're going to guide to, it's always risky to do that the biggest factor is not fundamentals the biggest factor what janet yellen said. tech stocks are the long-term duration, most sentiment to movement up in interest rates. and so i own, you know, a lot of the names that are, you know, well-known, particularly the faangs i try to pick my slots i'm not too aggressive yet but after a day like yesterday, then, yo

because the former federal reserve chairman janet yellen and treasury secretary talking about global minimum tax. talking about the need for more spending that it would be justified and help the economy. do you agree with that? >> i'm focusing on what we're celebrating with the economy. it is opening up. we have literally 200 people here today celebrating the ipo of figures. they have health care workers outside. those are the signs i'm looking at people are excited looking at what is happening. they're literally dancing in the streets. it is a great moment to celebrate our health care community because they're the ones that got us to the point we're talking about whether or not inflation is a risk. we wouldn't be in a position of such strength if we didn't have those supporting us over the past year. so i'm confident that we will navigate what comes our way over the next year just as we have up to this point. neil: all right. will the dancing continue if we do face higher taxes? you have been concerned some of the charges elizabeth warren have made of financial institutions saying i

secretary yellen: our most pressing concern was providing a lifeline for americans suffering under thec. our solution was the american rescue plan, which the president signed back in march. it was designed to provide enough relief for americans to make it to the other side of the pandemic come up with the foundations of their lives intact, providing nutrition for families, rental assistance for those at risk of eviction, and a lifeline for businesses on the brink. we knew this would not be a 100-day battle. let me be clear. 266,000 jobs added in april represents continued progress. we have added an average of over 500,000 jobs during the past three months, and we saw promising growth with 331,000 jobs in leisure and hospitality, which includes the restaurants and bars that have been so badly battered by this pandemic. we should also be encouraged by the expansion, a promising sign for our economy winning out against the pandemic. last month, the labor market expanded as more people reported they are looking for work. hours are increasing, and the share of workers forced into part-time

yellen: let me be clear, it is not something i am predicting or recommending. if anybody appreciates the independence of the fed, i think that person is me. and i know that the fed can be counted on to do whatever is necessary to achieve their dual mandate objectives. alix: joining us for more on washington is bloomberg fed and u.s. reporter craig porter. are we looking at a potential powell replacement in february of 2022? jared bernstein didn't seem to give powell his 100% backing. where is that conversation evolving in d.c.? craig: after looking at it and talking to people around the perimeter who influence this decision, it looks more politically intricate than baby investors think. the main reason is that powell has sided with his vice chair of supervision randal quarles in this light deregulation that has occurred. in the wings is lael brainard, the only sitting democrat on the board, who has almost two dozen dissents against those notes, and progressives aren't going to want continued light deregulation. so how does powell work with a new vice chair of s

of course janet yellen who's the treasury secretary now used to be the fed chairman was she's now she set off a panic by saying you know we could raise rates if interest rates gets you high of course that's not their remit of the treasury at the moment but it caused panic is like is this what they're thinking is this what's going to happen and just the fact that it's not prices going parabolic like that isn't telling people already that there's inflation like why do they why why are they getting panicked because the treasury secretary points out what is obvious she's obviously watching kaiser report oh if i recall my dog. the book. death of ivan ilyich it's an interesting parable about a man who witnessed his dead but apparently but he can hear the mourners talking about him his life that would be interesting yeah yeah so here the economy died in 2008 global financial crisis we just haven't buried it yet like ivan ilyich he hasn't been buried yet and you can still hear what people are saying about oh so we can still hear people talking about the economy like johnny allen and jay powel

$2.00 trillion dollars spending bill in the name of infrastructure watch out yuri secretary janet yellen admitted there is concern that the government could start to overheat from all of the spending the president of the boston federal reserve says he's not worried he claimed crease and prices is likely to be temporary pointing to the fact that toilet paper and clorox were in short supply at the start of the pandemic but manufacturers eventually increased supply and caught up with the demand so joining me now to go further and. tabio moran's the c.e.o. of. see and michael pinto c.e.o. of pentode portfolio strategies michael let's start with you here we're watching the federal reserve try to play down the risk of inflation even saying it will only be as short lived as the toilet paper shortage of 2020 is it too soon to dismiss those concerns when we're already seeing rising prices. well i think toll paper is made of paper and paper is me from treaty 70 look at the craze of umber lately but it really isn't a surprise rachel you know if the government trends 6 trillion dollars and handed ou

secretary yellen answered questions about it. sec. yellen: interest rates are historically low. it is likely they will stay that way into the future. but we do need fiscal space to be able to address emergencies like the one we have been in with respect to the pandemic. we don't want to use up all of that fiscal space, and over the long run, deficits need to be contained. alix: going us now is bloomberg white house reporter josh wingrove. this is now the critical time. what is on the negotiation block, and how do the next few months unfold? negotiating block right now. you heard from the treasury secretary about the need to not use up all this space. really, at all remains an open question. biden set out plans for two bills, the jobs plan and families plan, that might themselves be split into maybe three bills or beyond that, in particular breaking off infrastructure spending, which could get bipartisan support, from other stuff that isn't likely to get bipartisan support. of course, the revenue side is one of the biggest flashpoints in this, the proposal to raise the corporate

of course janet yellen who's the treasury secretary now used to be the fed chairman she's now she set off a panic by saying you know we freeze rates if interest rates get too high of course that's not their remit of the treasury at the moment but it caused panic is like is this what they're thinking is this what's going to happen and just the fact that it's not where prices are going parabolic like that isn't telling people already that there's inflation like why did they why why are they getting panicked because the treasury secretary points out what is obvious she's obviously watching kaiser report oh if i recall my dog. the book. death of ivan ilyich it's an interesting parable about a man who witnesses his dead but apparently but he's can hear the mourners talking about him his life that would be interesting yeah yeah so here the economy died in 2008 global financial crisis we just haven't buried it yet like ivan ilyich he hasn't been buried and you can still hear what people are saying about oh so we can still hear people talking about the economy like johnny allen and jay powell