janet yellen is speaking right now at the imf. we will go to her when she begins her q and a portion. the s&p 500 off by 1.7%, the nasdaq losing 2.2%. this is bloomberg. ♪ >> it shouldn't be surprising what's going on in the markets. i am surprised every time i see someone on tv is surprised by it. we had zero interest rates for a decade, massive stimulus, the first land war in europe in 70 years, the highest inflation in 40 years, and the fed had to move. scarlet: that was james gorman, ceo and chairman of morgan stanley. james gorman speaking earlier on the earnings call along with citi and jp morgan. let's get more on the overall bank earnings picture. office stephen biggar -- also with us . what is the big takeaway? sonali: you have the stocks of jp morgan, citigroup higher on the day, two are up more than 4%, showing you the boost in net income is staving off a few worries given the you are seeing some provisioning for loan losses tick higher. jamie dimon said if the economic environment were to get worse, those provisions ca

no decision has been made. >> thank you, secretary yellen.ou mentioned meeting with the african finance ministers. if i am understanding, a lot of them have been asking about additional allocations, especially drilling rights. did they bring that up to you, and what is your response if they did? i know treasury -- you have addressed fiscal space, and the potential to address that. sec. yellen: an sdr allocation is to address shortages of global liquidity. we had a substantial f drl allocation and we do not see another allocation appropriate at this time. it was decided by the g20 that it would be appropriate for countries that received allocations and did not really need the liquidity to consider lending some of those sdr's or other resources back to the imf for use in lending in structured ways to countries with need. one fund is the poverty reduction and growth fund that can provide assistance to low income countries. the has also created a sustainability trust that can lend for things like investments in health to prepare for future pandem

. >> [indiscernible] >> thank you, secretary yellen. there has been a lot of conversation at these meetings about the focus and emphasis on the war in ukraine and some african countries have expressed frustration that this may be happening to the exclusion or diminished help for their own worries and sorrows. at the same time, you are fighting to bring on board more people in the coalition against russia. that's -- that has had limited success as we've seen with the open production cuts. how do you assess that and what tools do you have left to put pressure on russia but also to keep and i on the global balance? >> let me start with the first part of your question. you mentioned the stresses that african countries and other low income countries are feeling. let me tell you that an important source of stress, although not the only source, is higher energy and food prices that directly reflect russia's invasion of ukraine. at our discussions in the g20 on the global macro economy, there was wide agreement when we think about what are the

. >> next, treasury secretary janet yellen participating in a forum on the u.s. economy. cecilia rouse also joining the conversation. . >> thank you for joining us, 2022 freedman's bank forum and now, please welcome u.s. treasury secretary of staff. >> good morning, everyone. you can feel the excitement in the air. thank you for joining us at the treasury. two months before the end of the civil war, senator charles sumner championed the bill to create freedman's savings bank. the objective of the bank was clear. a savings bank institution created for former slaves and their descendants. as frederick douglas, who later led the bank said, the mission of fieldman's bank is to show our people the -- of wealth and beg being of the world. president lincoln signed it into law a few weeks before his death. the bank grew quickly. opening in 38 branches across 16 states yet all of us know the legacy of fieldman's bank is one of tragedy. overwhelmed by the panic of 18 3 combined with mismanagement, a general loss of trust in the institution and a systemic failure to invest in former

and with that i want to thank treasury secretary janet yellen, chair rows.hank you both very much for this fun conversation. [applause] >>

i go one-on-one with treasury secretary janet yellen. we talk about inflation, the economy and the financial crisis in the uk. and then, the grades are in and they are not good. historic setbacks in schools across the country after covid. we search for solutions as the 11th hour gets underway on this monday night. good evening once again, i am stephanie ruhle. this is the final two weeks before election day and both parties have started a full court press for messaging what's at stake. earlier today president biden told democrats that his agenda is on the line. >> we just have 15 days until one of the most important elections in our lifetime. the choice could not be clearer. the stakes could not be higher. >> voting is now underway in several states, nbc news reports that nearly 8 million people have already cast their votes, either in person or by mail. meanwhile, new cnn polling shows that a extremely tight race for governor in wisconsin. while democrats have pulled ahead in michigan and pennsylvania. new reporting shows the former pre

to leaders of the world bank and international monetary fund as well as treasury secretary janet yellen. >> hi, everybody, welcome. thank you for joining. we are expecting president zelenskyy in a moment but i want to thank you for joining us at the world bank headquarters in washington, d.c. after eight months of war, the ukrainian people and their leaders remain determined and resilient. i am horrified by russia's actions, the loss of lives and livelihoods and the economic turmoil the war has unleashed. ukraine's needs for recovery are massive and we been discussing that to day. we work closely is an international group to prepare for the reconstruction efforts. i want to turn to my close colleagues. >> i have the privilege to give the award to president zelenskyy who is already with us. we are all ears and look forward to hearing from you. pres. zelenskyy: thank you very much. kristalina thank you for this opportunity and mr. malpass, i am very pleased to see you ladies and gentlemen. dear friends, we are thankful for your attention to ukraine. in these days, and country became a tar

but i'll get back to yellen. she's been around forever. and i mean this in a positive way. it is complimentary. she's seen so many crisis in administrations but her discussion about fiscal policy, she's part of the administration now. and what we're seeing around the world are administrations that are going through political cycles that do not like what is happening with monetary policy and i think we're given ground in this country too and our central banks independent, but the administration is not independent. they have some goals out there i'm say one more thing about where this reminds me of when i look at european sovereign debt yields and we heard the ecb point out today that they can issue debt and they can issue debt to aid higher yielding economies and those that are hit more by energy issues. but again it is the acb looking to monetize. so italian yields are not terribly far off where they were in the worse of the sovereign crisis so this went from a private market crisis in the great financial crisis where it was all shifted on the public balance sheets and we'v

secretary yellen for the invitation today.an honor for me to join you in this panel and to be with all of you remembering the aspirations of the freedman's bank and living seeing how we can live up to that aspiration today. so if we look at our history and very fitting with the event today, there's a we have a history of systemic biases that have created inequities that we're trying to solve for today. and i do believe that during the span of our careers we have an opportunity to make meaningful change to those inequities that have been ingrained into our system as you mentioned. got on the on that nine foundation, only 1% of all broadly defined investment investable assets are managed by diverse owned firms. so the diversity of the decision makers and the decision makers in venture capital with 3%. as you said, that leads to a certain level of decisions. we talked about the low level of funding to venture capital funders. one thing to remember as well is that for every dollar of savings, median savings for a white household,

. >> please welcome treasury secretary janet yellen. >> thank you very much, everyone for joining us today. since january of last year, the biden-harris administration has made racial equity a central piece of our economic agenda. advancing racial equity is not just a moral priority, it is also vital to our economic success. led by president biden and vice president harris, our efforts to build a fairer economy with their economic recovery, we know that communities of color were hit hardest by the pandemic. in reaching and supporting these communities, this core priority and our implementation of the american rescue plan, 2.5 years into the pandemic, data indicates our recovery has been historically equitable with record drops in the unemployment rate for many communities of color. it's not enough to help families simply recover. together, we are also building a stronger and more inclusive post-pandemic economy. investing in disadvantaged communities has far-reaching effects beyond the communities themselves. it can offer high returns on investments in used economic return. the trife

janet yellen throwing cold water on expectations of tax relief for ford honor makers.e to come. this is bloomberg. ♪ hi, my name's steve. i lost 138 pounds on golo and i kept it off. so with other diets, you just feel like you're muscling your way through it. the reason why i like golo is plain and simple, it was easy. i didn't have to grit my teeth and do a diet. golo's a lifestyle change and you make the change and it stays off. golo's changed my life in so many ways. i sleep better, i eat better. took my shirt off for the first time in 25 years. it's golo. it's all golo. it's smarter, it's better, it will change your life forever. ♪ haidi: -- >> 30 minutes out from the opens in japan and korea. we are also checking the other major factor in asia this monday -- tuesday, rather. the selloff we had in chinese stocks monday, given it was investors first chance to react to president xi's up which is light on central government experience, but high on loyalty. investors really not liking that. major indexes here at multiyear lows. also reflect didn't sure trading which is

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yesterday cnn's phil mattingly sat down with the treasury secretary, janet yellen, who said this. >> this point. >> seeing the third quarter gdp report, john, is she right? >> she's right in the sense there's nothing in the report itself that screams of a recession, but i do think if you start looking underneath the hood a little bit, particularly at where that growth has come from in the third quarter, largely from exports. i do see many signs that the global economy is weakening. if you look at china, if you look at asia. the sentiment weighed down across all of the markets. i think it will ultimately have some negative spillover effects on be the u.s. economy. >> i think the scorecard, i'm paraphrasing phil mattingly, the scorecard they're trying to give is all correct but it doesn't match the mood of the electorate. the mood is very inflation focused. people don't feel great about the economy. >> that's exactly right. consumer sentiment here. we're in consult. the other thing to note is inflation expectations also remain elevated so folks continue to expect high levels of inflati

i want to turn now -- we have schmail -- we have prime minister schmail and janet yellen and the u.s. has been a strong supporter and we had been able to disperse $8.5 billion of u.s. money plus other nations to reach the immediate needs of ukraine during this crisis. we have had discussions already this morning on additional steps that can be taken over the coming weeks and months. let me turn to krista lena and others and prime minister schmail. >> prime minister, are you on the line? did we --? president zelenskyy, >> here he is. >> good to see you, welcome . >> prime minister, go ahead. >> to ladies and gentlemen, russia carries out [indiscernible] as president zelenskyy said, hundreds of rockets damaged infrastructure and children's playgrounds and public transport. -- ministers lady is -- ladies and gentlemen --[indiscernible] as president zelenskyy and -- drones have damaged infrastructure and children playgrounds and public transport stops. 134 wounded 90 killed. the purpose of this is the desire to put ukraine on -- in this regard our response must be fast in this decision. m

ha does janet yellen think?they had. she thinks we're in significantly better shape than two years ago. however she's clear and knows we're not out of the woods and while things are looking positive it's not over. she can only do so much but she talked about the fed. watch this. >> i have confidence that inflation will come down over the next year or two, so i believe that what they're doing will work. >> do you believe its peaked? >> i'm not positive. i don't want to forecast month by month inflation numbers. the month recent data suggests we still have inflation that's unacceptably high, but there are good indications earlier in the pipeline that inflation will come down. >> compare us to the rest of the world we're doing well, but the midterms are two weeks away and lot of the things that the biden administration has done really good things, on infrastructure, on infrastructure spending and the inflation reduction act, last week being able to buy hearing aids over the counter, huge positives, but a lot of thi

cnn's phil mattingly sat down with janet yellen to get her perspective in this exclusive interview. >> reporter: as democrats scramble to coalesce with a message -- >> i don't see signs of recession in this economy at this point. >> reporter: treasury secretary janet yellen sitting down to deliver her own. >> you have unemployment at a 50-year low. there are two job vacancies for every american who's looking for work. we have solid finances. finances that are well equitalized. >> reporter: it hardly tracks with an unsettled electorate. >> it feels to be largely negative. why? >> inflation is really high. it's unacceptably high and americans feel that every day. >> hello, syracuse. >> reporter: split screen that has weighed down democrats for months. on a day the u.s. economy delivered a bounce back quarter of growth, campaign ads continue to hammer inflation that remains at a decade high. costs driving the economy to the top of voter concerns. it's clouded democrats' mid term prospects -- >> in terms of the time horizon, yours is not very helpful when there's a mid-term election in 12

yellen says she is not going to be one of those people.omic plans going forward and said i want to be part of that. erin? >> all right, thank you very much, phil mattingly. >>> and next, an update on the 8-year-old who is trying to become the youngest person to scale el capitan. ♪ can you hear me calling ♪ ♪ out your name? ♪ ♪ you know that i've falling ♪ ♪ and i don't know what to say ♪ ♪ oh, i ♪ dude ♪ i want to be with you everywhere. ♪ from bolt to blazer, equinox to silverado, chevy evs are for everyone, everywhere. who's on it with jardiance? we're managing type 2 diabetes and heart risk. we're hittin' the trails betwn meetings. and putting the brakes on fried foo. jardiance is a once-daily pill that...not only lowers a1c, it goes beyond to reduce the risk of cardiovascular death for adults with type 2 diabetes and known heart disease. and jardiance may help you lose some weight. jardiance may cause serious side effects including ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function and geni

ahead of that meeting, janet yellen saying she's not seeing signs of recession in the economy.ct interest rates to peak at 5% in march our next guest is out with a new book about yellen's legacy joining us now is an old friend, "wall street journal" senior writer good morning to you, john. congratulations on the book. >> thank you so much it's great to be back here with you. >> it's a great read and quite insightful about the way she thinks and everything that's happened with her. take us inside the thinking of treasury right now but also inside the fed, your old beat in life, in terms of the way they're thinking about all of this and whether you think she's going to be proven right or wrong ultimately >> well, so in terms of the thinking, the way i frame it is, we've been through three shocks in this economy, the first one was covid, the second one was washington's response to covid and all the money that it poured into the financial system and economy, the third shock we're going through right now is pulling back all of that stimulus i think the -- thethinking at the fed and

likely decide the balance of power in washington and the white house and treasury secretary janet yellen slamming opec's decision recently to cut oil production as gas prices rise once again. welcome to fox news life, i'm arthel neville. hi, eric. eric: hello, everyone, thank you for joining us on this sunday. i'm eric shawn. the the cost to fill up your tank well, it was going down for 3 months but you know in the last two weeks it's been rising officials say partly because of refinery maintenance shutdowns ant -- and opec's latest cuts as retirees will soon get the biggest social security living increase that they've seen in decades. in a moment we will hear from the wall street journal jon hilsenrath. analysis in moments. arthel: the white house trying to get in front of rising gas prices and inflation among top voter concerns. hey, lucas. lucas: price of regular unleaded gasoline nationwide is 3.91 according to triple a. president biden lashing out against saudi arabia and opec for cutting oil production former secretary of state mike pompeo responded this morning on fox news sunday.

good morning, madam vice president, secretary yellen, it is my pleasure to join you here today.commitment to closing the racial wealth gap is clear and we are grateful for your leadership. my treasury -- my thanks to the treasury council for racial equity and your staff of the work you have done to make this day happen. it is always a pleasure for me to be with the deputy secretary of hud, secretary adrian todman. it is an honor to serve alongside you in this historic administration and great to be here with all the distinguished leaders in the audience today. as a student of history, i know that the friedman's bank -- freedman's bank records offer clinton to the lives of black families after the civil war who we eager to become a part of the american experiment. after generations of enslavement, they were ready to reap the benefits of the promise of freedom. yet, as we all know, this is a story of ramos is not capped -- story of promises not kept, a story of an institution that led people to believe they were protected, only to betray their trust. people of color in this countr

treasury secretary janet yellen says inflation has stopped around the world and economic growth is slowingdiscussed the nation's economy and the global economic outlook. capping the price of russian go -- oil and providing additional funding to ukraine and lower income countries.

good morning, madam vice president, secretary yellen, it is my pleasure to join you here today.commitment to closing the racial wealth gap is clear and we are grateful for your leadership. my treasury -- my thanks to the treasury council for racial equity and your staff of the work you have done to make this day happen. it is always a pleasure for me to be with the deputy secretary of hud, secretary adrian todman. it is an honor to serve alongside you in this historic administration and great to be here with all the distinguished leaders in the audience today. as a student of history, i know that the friedman's bank -- freedman's bank records offer clinton to the lives of black families after the civil war who we eager to become a part of the american experiment. after generations of enslavement, they were ready to reap the benefits of the promise of freedom. yet, as we all know, this is a story of ramos is not capped -- story of promises not kept, a story of an institution that led people to believe they were protected, only to betray their trust. people of color in this countr

good morning, madam vice president, secretary yellen. it is my pleasure to join you.commitment to closing the racial wealth gap is clear and we are grateful for your leadership. my thanks to -- janice boulder and your entire staff. it is a pleasure for me to meet with -- the secretary of hud. it is an honor to stand aside -- with all of you. i am a student of history. as a student of history, i know that the freedman's bank, the bank records are -- operate where and detailed glimpse into lives of black families in the period immediately following the civil war. these records tell a story of people who were eager to be part of the american experiment. after generations of enslavement, they were ready to reap the benefits of the promise of freedom. as we all know, this is a story of promises not cap. a story of an institution that led people to believe they were protected, only to betray their trust. people of color in this country know this story all too well. what i love must -- most about history is the lesson it provides. lessons as citizens and as leaders, we have

in a few minutes, you'll hear from janet yellen on the state of the u.s. markets as recession fears kaes late around the world we begin with the talk of the tape today may as well be the tale of the tape concerning headlines out of the uk regarding the bond market mess there it only underscores the still growing risks in thi

eastern, treasury secretary janet yellen will hold a press conference of the annual international monetary fund and world bank meetings being held in washington, d.c. at 230 p.m., liz cheney, vice chair of the january 6 committee talks about the constitution and defending democracy. she will speak at the university of notre dame and you can watch live coverage on the free c-span now video app or online at www.c-span.org. >> c-span's campaign 2022 coverage of the midterm elections continues with candidate debates ound the country. beginning live tonight at eight p.m. eastern, from wisconsin, the incumbent democratic governor will face his alnger. at 9 p.m., the democratic congressman peter welch and republican gerald malloy debate for the open senate seat in vermont and it 10:00 p.m., incumbent colorado governor faces his republican challenger. don't miss a single election moment on c-span and take it -- and take us with you on the go with c-span now and be sure to visit www.c-span.org/campaign 2022, your website for all our midterm election coverage on demand. c-span, your unfiltered view

their version of our janet yellen has to come back maybe because there will be a possible hypothetical policy pivot. how much do we really know right now? >> yes, well, the last time we checked flights so closely was pelosi's flight to taiwan. he's expected to land in 45 minutes time and make his way over here to downing street and what a 24 hours it has been. this is a remarkable turn around there are further reports that the uk government is considering more u-turns on this mini budget this is the mini budget they released on september 23rd, sent markets into a global tail spin because of the sheer amount of unfunned unfunded tax cuts, 45 billion pounds worth on the back of that, we saw gilt yields move about 100 basis points higher in the space of 48 hours. bank of england had to intervene for some stability the government already made one form of u-turn by scrapping their intention to reduce the highest income tax rates on the highest earners. but the expectation is that they will have to go further down that route and possibly modify corporation tax, plus dividend tax as well. the

ask you about janet yellen, seems like she is the wild card.eard more from her the last couple days. heard more from her last week. maybe she is trying to provide cover if the fed makes adjustments. >> i am not seeing the fed stepping down, that is not pivot but step down. that means they will hike 75 basis points at the next meeting on november 2nd. then they will hike 50, 25, on the way to zero. while that doesn't sound like a lot, the market is excited that is a signal that the fed is starting to turn. all year the fed has made the case that they need a reverse wealth effect. they need people to demand less because their portfolios are no longer making them money. we saw this in the summer when the stock market rallied 17%. jay powell gave an unemphatic eight minute speech at jackson hole saying i am not going to pivot. that is the word we were using then. the market fell apart right after that. i don't see anything that suggests that the fed is going to turn, at least in start to say now it is okay for us to back off, it is okay if the stoc

treasury secretary janet yellen has proposed changes for the world bank and regional development bankve beyond country-specific loans. the changes look to address a slow of private capital to emerging economies. janet yellen endorsed the notion that multilateral government bags can substantially increase lending without substantially increasing risk. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. ♪ shery: coming up, as we look ahead to china's 20th communist party congress, we talked to human rights watch about how the landscape for lgbtq plus life is changed during xi jinping's decade in power. this is bloomberg. ♪ shery: in the lead up to the chinese party congress, bloomberg equality focuses on lgbtq rights in china, were read him has come under increasing pressure. what does president xi's likely return meet for these groups in chinese society. joining us is now yaqiu wang, a researcher at human rights watch. give us the state of lgbtq plus rights ri

cheers. >> don't miss stephanie ruhle's fuel interview with janet yellen tonight on the 11th hour. >> excellent new reporting is shedding more light on florida governor ron desantis' migrant stunt. oh, and yeah, the whole thing was just as shady as you would expect. we'll be right back. let's dive in! but what about your back? it's fineeeeeeee! ugh! advil dual action fights pain two ways. advil targets pain at the source, acetaminophen blocks pain signals. advil dual action. this is gloria. she hasn't worked this hard to only get this far with her cholesterol. taken with a statin, leqvio can lower bad cholesterol by over 50% and keep it low with two doses a year. side effects were injection site reaction, joint pain, urinary tract infection, diarrhea, chest cold, pain in legs or arms, and shortness of breath. with leqvio, lowering cholesterol becomes just one more thing life throws your way. ask your doctor about leqvio. lower. longer. leqvio. research shows that people remember ads with young people having a good time. so to help you remember that liberty mutual customizes your home

[applause] janet yellen: thank you very much, everyone, for joining us today. since last january, the biden harris administration has made racial equity a centerpiece of our economic agenda. advancing racial equity is not just a moral priority, it is vital to our economic success. led by president biden and vice president harris, our efforts began with economic recovery. we know that communities of color were hit hardest by the pandemic. in reaching and supporting these communities is the core priority in our implementation of the american rescue plan. data indicates pandemic recovery has been historically equitable with record drops in the unemployment rate for many communities of color. but that is not enough to help families simply recover. nger and more inclusive post-pandemic economy. investing in disadvantaged communities has far-reaching effects beyond the communities themselves. it can offer high returns on investments in used economic return. the trifecta of legislation enacted over the past year, the bipartisan infrastructure law, chips and science ac

janet yellen gets rich giving speeches to the companies she regulates.t's corruption, but never charged. she's still free. in fact, she's the treasury secretary. you get poorer. the solution, more abortions. that's the message they're selling. and maybe not surprisingly it doesn't work. that's not what voters want. so what do voters want? what do they tear about? if you look at the polls, they care about the quality of their own lives. so they care about the economy and they care about crime. this is very obvious. you don't need to look at polling to know it, but every poll shows it with maximum clarity. how does the media respond to this? well, of course, doing their job. they've done everything possible to minimize both issues. the economy and crime. they've told us the economy is not in a recession. no, it's not. when, of course, by every measure it is very much in a recession. and on crime, they've told you don't even talk about it. only racists worry about crime. racists. the one thing you don't want to be called. so how should republicans respond t

when yellen sent out a coalition around the world to limit the amount of money that russia could make out of oil sales, she was hoping the administration that companies would -- and the administration was hoping that companies would sign on. we are seeing is beyond the g7, few countries are willing to sign on right now. china, two major buyers of oil has completely ruled out joining . that is also complicating are undermining some of those efforts -- and undermining some of those efforts. haidi: let us get over to the first word headlines. >> antony blinken has again accused china of trying to speed up its seizure of taiwan. china is undermining the decades long status quo that has kept it out of the u.s. from going to war over the island. beijing's taiwan affairs office as china is closer than ever of realizing reunification of the motherland. vladimir putin has overseen drills simulating a nuclear retaliatory strike. it included launching intercontinental ballistic missiles. they said it was a routine exercise. jeremy hunt is facing a fiscal shortfall when he sets out the government

haidi: financial risks and concerns are of key importance, yellen talked about the dangerous backdrop when it comes to the economy. she's keeping a close eye on how the economy and markets hold the potential to disrupt the financial system. it is not surprising we have this conch in -- caution after the tumble in the yen. not to mention the chinese economic slowdown. you mentioned earlier the a mixed bag when it comes to those delays in the gdp and activity numbers. we are dealing with a plunging equity and currency market. we know that in other places this may give governments pause. this is on xi jinping's leadership, his consolidated mode of policymaking, investors are wondering whether the bet is worth it. we know that you can profit quite lucrative lee if you are aligning your bets and investments along with policy priorities but this amount of volatility, chinese stocks pummeling the most in 2008. they have gone through the 10% slump when it comes to tech stocks, huge volumes compared to the average. not only has it really seen the weakness, it is about 2% weaker than the vix. p

really interesting details. >> harris: , secretary yellen to turn into economics.. >> kayleigh: better than kamala harris. >> tammy: that tells you. >> harris: let's talk about fist bump for a second. do we all remember why that happened? because it was covid and the president would not be touching anyone and that trip included israel so one and so forth within ten days of that, but what that says sometimes potentially, tammy, and i was thinking about this as you were talking. you telegraphed the other side of the fist bump that i am weak. that you are afraid, i am afraid. that i might get touched. even though you have taken every precaution and you told all hundred domain 340 million constituents in america but it did not work for you. that the end all be all is everything i have done. certain things you have to take a risk for. you have to stiff and respond and take a risk. and it tells the world, specifically, the leader of opec+ may be that spine is not as stiff. the signs of weakness happened well before the words went out and statements potentially. >> kaylei

janet yellen and washed the notion that development banks can increase lending without significantlyase their risk. the latest you see the minutes sure some officials wanted a50-basis point hike in september. decision-makers ultimately agreed to a 75-basis point hike. momentum is building for a repeat of the september hike. the central bank is fighting inflation nearing 10% in the bloc, while risking a looming downturn. president biden is pardoning thousands of americans convicted for possession of marijuana, and ordering a review of its legal status, in a major step towards decriminalizing the plant. he has issued a blanket pardon for all prior federal charges of simple possession. he also urged governors to do the same for state offenses. the biggest etf investing in u.s. cannabis companies surged 34% in one hour on the news. the thai prime minister will visit the scene of the country's worst mass killing on friday after ordering an investigation. a 34-year-old man killed at least 38 people, most of them children, a rampage which began at a daycare center the man has been identifie

it is very rare that you get the treasury secretary, janet yellen, coming up and admitting in publicut a loss of adequate liquidity. she did ask her staff to do something quite remarkable as well, they asked the treasury bond auction committee if the government should start buying some of those less liquid securities out there. this is a telltale sign, surely. >> it is. i think that is absolutely right. it does show there is an increasing concern within the treasury, yellen, of course, and the fact they are having to resort to announcements and discussions clearly says the alarm bells are starting to ring in the administration, so i think there is clear concern. as i said, i don't think we're there yet. we are pretty far from any type of liquidity crisis, but liquidity has been much worse in the treasury market than it has been for years. i think for that reason alone, there has to be some concern that it's growing. yvonne: i was wondering if you could put your em hat on, just from what we heard about central banks and how they could at least stem these declines they are seeing in th

treasury secretary janet yellen is proposing changes for the world bank. the changes seek to address global threats to speed up the flow of emerging economies. yellen has endorsed a multilateral banks could increase their lending without significantly increasing risks. global news 24 hours a day on air and on bloomberg quicktake, powered by 2700 journalists and analysts in more than 120 countries around the world. i am vonnie quinn. this is bloomberg. haidi: still ahead, we're counting down to the u.s. jobs report. any signs that the labor market is finally cooling-off. are chief economist will be joining us later -- our chief economist will be joining us later. we will talk about pharmaceutical and medical firms. mariann montagne joins us in just a moment. this is bloomberg. ♪ >> we are in this high inflation environment and being able to forecast in real-time the turning point, where waiting for inflation to peak and come back down. that is going to be critical for policymaking. >> we look, according to our reports, headed for 4.5 to 4.575% next year, gi

eastern time on c-span, you can see the treasury secretary, janet yellen, talk about the u.s. economy during a news conference. coverage on c-span, c-span.org and the free c-span now video ap whent mes to election 2022, the wisconsigornor debate tonight bween tony evers and his republican challenger. that being hosted by the wisconsin broadcasters association. live coverage at 8:00 eastern. to eve, grand rapids, michigan, good morning. go ahead. caller: good morning, john. good morning to the c-span space. this is what i want to say. i cannot believe people are still saying they do not believe this about the insurrection when they watched it with their own eyes. i would like to say also the people complaining about people being dead and voting, don't they know that during the pandemic, people voted and then they died. your vote does not count because you died during the pandemic? host: one more caller this morning. rita in wisconsin, independent. are you going to watch the wisconsin governor's debate? caller: you betcha. i was so shocked yesterday about what was going on. the

the last time i think that yellen actually came after anybody, charlie's there now charlie sharp.>> how did we get on wells fargo? >> happened that weekend friday night before the super bowl game. >> i want to get you on meta because everybody's talking about the quest pro and this strategy from zuckerberg to sell this hardware, basically, not for profit but make it up on software and services. here's what he said yesterday. >> obviously, it's still this high-level concept and there's a ton of stuff that still needs to get built, but i think, you know, it caught people's excitement just as sort of -- kind of a long-term hope for what we want to build, more than i had actually thought was possible and then i think, actually, poses different opportunities and challenges on the one hand, a lot of folks are really excited about working on it. on the other hand, i do think it just sets up for a trough of disillusionment at some point because it is a vision that's far out. >> trough of disillusionment >> that was the key phrase by the way, needham today, who's been very critical, we adm

yellen acknowledged that high inflation is something americans are feeling every day.eptember prices were up more than 8% from a year earlier. mortgage rates rose again this week, topping 7% for the first time in 20 years. now, those higher rates are beginning to choke the housing market. the question is whether democrats will be held responsible for these problems. >> i think they are responsible. the american voters are going to hold them responsible election day. i think there's no question republicans will gain control of the house. in a very narrow environment, just as likely as not to gain control of the senate. we still won't have control of the administration. bad regulatory policies and bad energy policies will continue to stoke what is now a fire of inflation that got way out of hand before democrats knew what they were doing. >> u.s. presidential historian douglas brinkley joins me from austin, texas. he's also a professor of history at rice university. thanks so much for being here with us. all right. so we know in these midterms, president biden and the de

energy costs, data showing that is a main driver of inflation, but today treasury secretary janet yellen did not even try to finesse a response about what an opec production cut could mean for your wallet. >> i would think would lead to some concerns about soaring gas prices and also the impact on inflation. how worried are you about that? >> no comment. >> strategic reserve sales coming to an end and the senate from opec plus, likely be cutting production, may be the beginning of an upward trend in gas prices. 3.81, up from 3.75 a week ago. still down from the highest average we hit in june, 5.02 a gallon, but arizona, georgia, pennsylvania, wisconsin, numbers are not working in the party's favor and it's giving fodder to republicans who say biden's trip to saudi arabia to encourage opec plus to ramp up production wasted a lot more political capital than it was worth. >> so much for joe biden being able to transact with the saudis and trying to use the influence of his bully pulpit with the world marketplace. we should be bring the prices down by producing it in the united states of ame

. ♪ >> there's a crypto lobbying group called coin center and suing secretary yellen about what? call to sanction tornado cash and it's a platform that hides the source of the funds. this lawsuit says that yellen and co overstepped authority in sanctioning the company and infringes on american's right to privacy and hurts investors. well, treasury says, tornado cash, you fail to impose effective controls to stop users from laundering money from my luscious actors to the tune of $7 billion in 2019. stu: $7 billion is a lot of money. look who's here now our car guy. he got to test drive the most powerful production car in the world, the electric pin and ferena. how fast? >> 1877-horsepower. lauren: you need a neck brace. >> you feel like a fighter pilot taking off and 0-60 in 7.81 se7.7.81seconds. if you dropped this car off a cliff, it would fall slower than it accelerates and top speed is 218 miles per hour. i didn't get to test that out. i did drive it but didn't hit 218 miles an hour in it. stu: you did drive it? >> yes. stu: and did 218? >> i did not do that. lauren: why not?

neil: you know, janet yellen is weighing in with some of the debt news and inflation is not becoming embedded in the u.s. economy. that might be news to come inshrewding the ceos we were mentioning before. yourself included and says that some of the cost of production of chipping are coming down. u.s. on responsible path this would continue to decline in the debt. $1.5 trillion in the latest period is a theme that will pick up steam. in other words i guess by that she means deficits will continue coming down. do you see that? >> no, that's a stunning statement and debt coming down has everything to do with covid spending and i do believe we're going to be over $1 trillion again this year in deficits so i hate hearing that and wish they'd tell us like it is. we're $31 trillion in debt and higher interest rates means the cost of debt's going up and on the inflation front i have an e mail from one of my listeners saying they bought four tires for $900 and they were $500 two and a half years ago. if janet yellen doesn't think inflation is embedded, she needs to get out and start speaking

a member of the administration said the exact same thing, secretary yellen, and said it in a hearingn the hill. she said that black women in particular, remember that, if they can't get abortions, it hurts the economy. so even if karine jean-pierre hadn't heard this politician say it, a member of the administration said it, and it made for a bumpy week for secretary yellen. >> this is one of the most jaw dropping ways for the democrats to talk about both the issue of abortion and inflation, bringing them together at the same time. it is absolutely outrageous. first of all, stacey abrams supports late term abortion, so she's saying why don't you wait on it until the ninth month and then make this kind of decision so you don't have to pay shelter and food costs for a baby. there are some women that will make a decision based on economic circumstances, but higher prices aren't helping the situation. talking about abortion isn't going to bring inflation down. the way they spin it, the way they go at it is so, i mean -- >> i think it is predictable. i think when they looked at the polling