yellen said she could not comment specifically what was being looked at. great update in terms of the ongoing narrative around the twitter deal. coming up, we will talk a bit about deals. the d'amelio is branching out into funds investing in women led startups. this is bloomberg. ♪ welcome back to bloomberg technology. i am caroline hyde in the alongside ed ludlow and san francisco. did you mail your family of tiktok fame is announcing a $25 million fund recently invested backing high-tech businesses but primarily started by women and minority founders. talk us through, this is what you have said, combating systemic inequities in the technology and business world by front and next generation of female and minority entrepreneurs. talk to us about the companies you picked and why they stood out to you. >> that is right. we had about six turnips today. we lost a little over two quarters ago. we just announced those six turnips. four of them were backed by women founders. we really felt it was important to use our collective platforms to boost both women and m

janet yellen speaking today. she doesn't like crypto, you know that.regulators to come down hard on it. on top of that, i saw the tweet with mr. well. eight congresspeople tried to stop the sec inquiry back to ftx in march. five of eight received donations from sam bankman-fried. what bothered me i interviewed the folks. i thought they were on the side of crypto investors. with all the millions floating around i don't know what to think anymore. >> but this in context. i read the letter, charles. it doesn't mention ftx. charles: okay. >> what you said, gary gensler sent hundreds of voluntary requests for information. when the crypto companies gave information they got investigative subpoena. they got sued like ripple, library, dragon chain, blockfi. nothing happened. they have not done any registration. guess what, charles, sec is the second largest creditor in the blockfi bankruptcy. charles: that is absolutely amazing. >> janet yellen this is a lehman like situation for crypto. charles the only reason or way it will be like lehman if no one goes to j

but janet yellen said it best. it will still be likely years, two, three years before we get back down to, you know, 2% inflation. >> more signs about where the economy is and amazon, but "the new york times," "wall street journal," others reporting thousands, perhaps up to 10,000 people being laid off from their jobs. that would be the largest cuts in the companies' history. what do we read into this? >> i think we're starting to see the employment picture shifting. employment's been super strong as we've watched the unemployment rate come down to what looked like historic lows. woe we've heard from amazon and a number of big tech companies and other, and over the next few months i think we'll see that unemployment rate creep up. perversely, that creep up might be good for inflation coming down, but at the same time of course those who have lost their jobs get hurt in the process. that's what we' seeing. home depot reported earnings today, strong numbers but less people going into the stores, the volume, the amoun

janet yellen earlier talked about how she would not hamper u.s.ly the struggle for power is not changed by this effort to sort of reduce the temperature in this three-hour meeting in bali. frankly, you have to ask yourself, liz, what in the world were they talking about for over three hours that they could somehow agree that they're going to delegate everything now to three teams. secretary blinken's going to beijing, there's apparently a janet yellen channel, and there's a third channel that'll discuss climate change. remember, the chinese broke off the climate change talks in protest over nancy pelosi's trip to taiwan. that, apparently, is one concession from the chinese, they are restarting our climate change talks. so you're going to have probably janet yellen, john kerry and antony blinken, all three going to beijing. i don't see a lot of progress, frankly. liz: well, i'm a little perplexed by one thing, and that is if yellen is saying that they will not, she will not hamper u.s. companies from going to do business in china, well, it's the bi

you have president biden speaking to kick things off and janet yellen sitting by his side these are live images from bali. as john raines just said, the expectations around this meeting today is fairly low. a successful meeting might simply be the reopening of the communication channels between the two countries. john said essentially no major breakthroughs are expected the stakes are extremely high, but expectations very low. russia is poised to be a major topic here we know the u.s. has been leading the brigade to take a hard stance against russia china has taken a more neutral view today >> they certainly have you know, in the first face-to-face meeting, what takes joe biden met up with other leaders and announced investment in indonesia does that focus and move through to this? they will speak about the pandemic which is affecting china significantly. manufacturing taking quite a bit of a hit, nfortunately, for them the investment that joe biden did announce then as well in indonesia and nofollowing that summit there they are describing the critical partner and discussion of climate

and he spoke to janet yellen on the top issue of inflation and gas prices.surances can you give americans that gas prices won't go back up? >> it's our objective to make sure that the world is adequately supplied with oil so crude prices don't jump and gas prices don't rise, so that is a key objective. a second key objective is to try and deprive putin of the resources that he's earning from oil that enabled him to continue this war. >> reporter: that's just part of our conversation with the treasury secretary, janet yellen today, on the issue that affects more americans than any other, the topic of inflation. yellen said she thinks it will be a couple more years before inflation comes down to 2% where the u.s. would like it, and there were good signs in the last couple of weeks, with the year over year average dropping below 8%, and it still has a long way to go. >> that's a great transition to what we are talking about next, which is how are companies dealing with inflation and the possibility of a recession in the next few months to come. peter from bali

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

what secretary yellen has said and the administration has said there won't be an increase in the rate of audits for people under $400,000 above the historic rate. so there will be some increase to get back to where we were 10 or 12 years ago in the normal course of the audit, but i think the critical point is charles' point, which is if you can improve the technology and do better data analytics, you'll be better across the board and the irs goal is to find people who are pushing the envelope or not filing at all or certainly just cheating on their taxes. i used to say when you cut the irs budget it was a tax cut for tax cheats, they're the ones who understand their chances of being audited went down significantly. so, back to your honest taxpayer, the goal is not to audit them, the irs recognizes there's nothing to be gained by wasting the taxpayer's time or their time and the goal would be to see if-- with the funding for information technology, if over time, you couldn't actually get better data analytics, better use of artificial intelligence so you could do things like audit larg

so is a backtrack from yellen.oday breaking a call between elon musk and an official from the european union in the last hour, hour 1/2. we're still waiting for headlines maybe on what was discussed there. we do know, certainly that musk has been, i guess you would say in attack mode this week going after apple and others as advertisers continue to cut spending on twitter. some, they have talked, musk has maintained when they do that, really what they're doing is attacking him politically. he says those attacks are coordinated by democrats. the advertisers talked about content moderation. outside of party leadership and independents like manchin, referring to the west virginia senator, they are essentially actors on the political stage, not directors or script writers. we spoke, you know, we've seen well-known republicans, ron desantis on the screen there, come out now start to defend musk, push back in the other direction over these reports that maybe apple would kick twitter out of the app store. take a listen. >

it's a biography of treasury secretary janet yellen. it's titled yellen, the trailblazing economist who navigated an era of upheaval. also each week, national publications review newly released books. here's a couple daily based in usa today columnist david rothkopf. new book america and resistance earned a kirkus review. kirkus calls it a revealing book about how government professionals, the so-called deep state, kept the trump administration from wreaking even more havoc than it did. rothkopf kirkus writes rescues the reputations of some officials, such as kirsten nielsen, secretary of homeland security, while further lowering those of white house adviser stephen miller and jared kushner and the washington post took a look at linda kintzler as new book come to this court and cry. how the holocaust ends. in her gripping debut to th washington post writes, kinstler traces how the crimes of world war two have been prosecuted. and jtice attempted over generations. how memories have been formed and used, usurped and admitted. and watch fo

have two suspicious activity reports, in the because of the biden family and not because of janet yellen at treasury. these specific activity reports are very detailed. these aren't from little banks like in my part of kentucky, these are wells fargo, j.p. morgan. so these suspicious activity reports that i don't think from day one a lot of people in the media understand what a suspicious activity report is. just so you know, suspicious activity reports were created after september 11 as a way for the government to be able to track foreign transactions into american terror cells. over time it's expanded to include things like money laundering and other types of criminal activity. because when -- in september 11 remember the banks knew the terrorists were getting wire transfers from saudi arabia but the f.b.i. and federal authorities didn't so that was how these were created. under president bush, under president obama, and under president trump, any committee in congress could have access to those suspicious activity reports. but when joe biden became president, he changed the rules. doe

but as janet yellen told reporters earlier today, they hope to just establish communications and haveunications between the two leaders. both leaders are coming here with fairly strengthened positions domestically. obviously, xi jinping secured a third consecutive term at the party of congress. . he also made moves on the economy to shore up the property sector as well as these, just a little bit, -- ease just a little bit the covid zero policy's, the two main drags on the economy. biden, he has already said coming from cambodia and the asean meetings, that "i am coming to meet with xi jinping on stronger ground." -- i paraphrase. but he is coming here to meet with xi jinping perhaps on stronger footing, after the midterm elections domestically. that sets the stage for what should be a very interesting conversation. i asked the question about what the business community wants from the meeting, of the u.s. chamber of commerce head of international affairs, and this is what he had to say. >> there is no silver bullet in the u.s.-china relationship, but having a meeting of this sort is c

s. janet yellen pretty much saying that they're not going to change this, that the inflation reduction act in the u. s. is there to stay as though a leaders europe are concerned simona back to you? or what does this mean then for your german member companies that are doing business in the united states and hoping to prosper there in a, in a growing market? of course, our german members want to prosper and to and be part of the trans atlantic trade. and that is what the us, what the american chamber of commerce is for chance atlantic trade. so what we need is good agreements that we have a mutual partnership that we have a chance atlantic serenity and not protectionism. on the other hand, i think the wording which the political leaders use at the moment very, very strong. and it's not necessarily there is a trade and technical tech technic. and to trade council, there is the g. 20 summit, these goods locations to talk about and look for corrections and not immediately talk about war or counter action, because that would not help anybody. so not our members, not the u. s. companies, not

stuart: janet yellen was asked if she will investigate elon musk's twitter purchase.treasury secretary said to her knowledge there is no call to investigate. she said, quote, i'm not sure precisely what the president had in mind but we had no basis to the best of my knowledge to examine his finances. i'm not aware of concerns that cause us to investigate. president biden suggested musk's twitter took over and technical relationships should be scrutinized, the white house just binding to questions whether musk poses a threat to national security and whether the joint acquisition of twitter with foreign governments which include the saudis should be investigated but yellen had to the committee on foreign investment has repeatedly said she is unaware of any concerns. stuart: thanks. democrats's ties to sam bankman-fried making it typical to relate the coto market. hillary vaughan, what are lawmakers saying about future regulation and colleagues connections? >> reporter: congress needs to act, the sec dropped the ball after reports that the founder, sam bankman-fried gave

i sat down with janet yellen in bali who told me she has not had direct conversations with the chinese over the price cap but believes that the chinese want oil at the best possible price and the cap would help with no guarantees. on friday, i talked with darryl ice say about -- darrell issa who says the president needs to be firm. listen to what he says. >> we have to have a resolute president who lets president xi knows if he goes into taiwan or continues to supply technology that will kill ukrainians that it will ad adversely affect the relationship with us in a long way. it would give president xi a look at weakness when we should show strength. >> reporter: president biden will have a news conference and we'll likely hear more about the meeting with president xi. back to you. maria: thank you very much. joining the conversation all morning long this morning is national security founder, morgan ortagus and chris markowski. thank you for being here. >> thanks, maria. maria: morgan ortagus, be president xi jinping likely wants to talk about taiwan and his orders in terms of no one ge

dagen: before we go, harry, treasury secretary janet yellen will travel to india next week and indonesiaummit, yell yen is hopg to strengthen economic ties between the u.s. and india and try to overcome g20 divisions over russia and the war on ukraine. your thoughts about her trip there and if she can actually aca michigan anything. >> -- accomplish anything. >> i think it's important to lay the ground work. i think for the longest time the united states has really underappreciated india, trying to bring india into the west. it is a vital country that we need to be much more aligned with especially as the indians have very tight relationships with russia. if you look at the indian military for example, it's completely kitted out with russian military goods. we need to try to convince indians to p come join, be a bigger part of the west and hopefully janet yellen can accomplish a little bit of that or of lay the ground work. dagen: thank you so much for being here this morning. >> thanks, dagen. dagen: coming up, who wants to be a billionaire? the powerball jackpot keeps going and a it co

yellen by 2024. who is advising the president telling him all these things?well, that is an interesting question, liz. i don't know that question. elizabeth: i love putting you on the spot. >> the people, the people you mentioned for the different councils i used to run one of those councils, they're not telling him the truth. i actually don't know what he was trying to say but go steal a pumpkin, liz macdonald, go ahead. go steal a pumpkin. no cash, no bail. look it, inflation is the cruelest tax of all. food price inflation is off the wall and don't forget, here, the linkage between fossil fuels, fertilizers and food prices, okay? this is another example of why it is so crucial to open the spigots for oil and gas and bidens don't make that connection. they don't make any connection and they're too busy giving reparations to poorer countries so they won't use oil and gas which is still the most efficient form of energy. this is a crazy story. every question you asked me, i should just sit here and say, this is the a crazy story. this is a same story. elizabe

i feel like we're back to bernanke, no contagion, powell, inflation transitory, yellen, no financialrisis left in our lifetime. he is making the same comments that don't have any basis behind them. let the rate hikes get in the economy first. let's worry about if inflation is a problem then. i don't think it is going to be a problem at all once the economy rolls over. cheryl: kenny, maybe he felt he needed to address the elephant in the room. obviously that is interest rate policy at the fed. he is a fed governor? >> he is and he always seems to make markets move every time he talks. he seems to be much more aggressive. look i'm in the camp, i'm more in his camp i don't think they will go into 7%. goldman came out an confirmed 5.2% terminal rate. they indicate ad month ago. i'm in that camp. that is where i think we have to go. i don't think the heights we've seen made their way through the system completely i'm still not convinced they have gone enough to tackle inflation. i still think there is some room to go. why i continue to see anxiousness in volatility. >> anxiousness obvious

curious to see what janet yellen has to say about the u.s. and european alliance especially around the inflation protection act and how the joint effort is to counter some of the china preeminence. we get a host of data at 10:00 p.m.. i will be looking at the beige book through 2:00 p.m. because nobody else will. i think it will be interesting to hear the commentary. joel stated one of the most important data points of the week. how much do we see this contract, the stealth tightening -- loosening in the labor market? we see that or an ongoing increase in the openings because it is not as a market for tech as it is for retail, services? jonathan: i'm not even pretending. 2:00 p.m.. tom: we can talk about this because it has captured the imaginary. what does the significance of the ratings up so much now me to the u.s. hosting the world cup in four years? jonathan: i would like to see team usa progress and lay a solid foundation. tom: and the third youngest team, i literally said tele mundo. i have to watch it. they are serious about it, like

if secretary yellen asked to repeal the 2019 guidance, would you support that? >> yes. >> yes, i would be supportive. >> yes, i would be supportive. >> it would be useful to revisit the guidance and evolving with circumstances we're taking the risks that might come in the system in the future and would be useful to do that for that reason. >> thank you for the question. first and foremost, i have responsibility for the safety of the national banking system. a lot depends on the devil. devil is in the details. i think there is a form of it which could perform an objective and fall into the trap that you just laid out. and a lot depends on what those details are. >> regulations are going to be necessary for the activity. i think it's important tore consider how we approach that. talking about the crypto activity, almost all of it now is really investments in trading activity. so in the first instance, it seems to me, it falls to the market regulators. there is some limited interest in the banking sector and to the point there is interest, it will fall to us. we ha

janet yellen wrote a letter to cbs news they're not going to do it.mine the finances of this company. i'm not aware of any concerns it would cause us to investigate. i just wonder what your response is to her? >> i don't understand secretary yellen's decision to not inquire about the circumstances of this massive foreign investment in an american media company. the committee that reviews foreign investment in american companies was set up for this exact situation where a foreign government has made an investment in a very important media company, perhaps with the intent of affecting american politics or getting access to americans' data. some people will point out that the saudi company here had a stake in twitter before elon musk bought the company. that's true, but almost everybody else cashed out when musk paid a price for twitter that was way above valuation. twitter instead, partnered with musk, stayed in on the deal. it just makes sense for the united states government to ask why. what promises did musk have to make the saudis in order to stay a

meanwhile, treasury secretary janet yellen said she had misspoken in previous comments which downplayedhe chances of an investigation. president joe biden had said musk's international investments and cooperation with other countries were worthy of being looked at. continue to watch this space on this oversight. as we know with elon musk, we can never predict what the latest news is going to be. mark: absolutely remarkable state of affairs. thank you very much indeed. as ever, on the money with the business. thank you very much indeed. take a short break. after that, the news continues live from paris. stay with us. >> special events. the titans will clash in qatar. the world's just players battle for the world cup. from november 20 through december 18, don't miss world cup news daily on france 24 and france24.com. france 24. your window of the world. liberte, egalite, actualite. ♪ [captioning made possible by democracy now!] amy: from new york, this is decracy now! >> brown line have shed themselves of about

treasury secretary janet yellen told bloomberg she's convinced this sector demands very careful regulation>> the proper place for this would be for congress to put some proper legislation in place to give guardrails for this. >> reporter: an industry that had boomed especially during the pandemic, now in freefall. and ftx put out a statement today that it was investigating unauthorized transactions flowing from its accounts. adriana. >> astrid, thank you. >>> talk radio lost a legendary broadcaster today. ji jim bohanon was on stations for nearly 30 years. he retired last month, he was 78 years old. >>> straight ahead on the cbs weekend evening news, how inflation is gobbling up your thanksgiving turkey dollars. also, a remote minnesota community confronts the environmental risks of green energy. >>> and later, the wisconsin man who looked beyond an eye injury setting his sights on a new career. >>> the clock is ticking down to thanksgiving as prices tick up for turkeys. cbs' janet shamlian goes to an indiana turkey farm where it turns out inflation is not the only reason turkey prices are

. >> biden confirmed he'd spoken to his treasury secretary, janet yellen, about the issue.he group of seven economies say they want to impose a price cap on russian oil imports delivered by sea starting december 5th. they want to limit moscow's earnings while avoiding a sharp spike in prices that would come from cutting off supply from russia's oil pipelines. but russia's president says the plan will have severe consequences for the global energy market. vladimir putin made the comments during a phone call with iraq's new prime minister mohammad shia al sudani on thursday. kremlin spokesperson dmitry peskov also told reporters that russia will not supply oil and gas to any country that takes part in the price cap scheme. >>> russia's invasion isn't the only devastation top of mind in ukraine. every november, people honor ctims of forced famines during the soviet era. one woman is sharing her sry of surviving the worst one 90 years ago, a famine motivating ukrainians to support today's war effort. nhk world's caterina novitska reports. >> reporter: at 102, liubov yarosh is k

so what secretary yellen has said is that there won't be an increase in the rate of audits for under 400,000. there will be some increase to get back to where we were ten or 12 years ago in the course of audits. i think the critical point is charles's point, which is if you can improve the technology and better handle analytics, you will be better across the board. and the irs goal is to find people who are pushing the envelope we're not filing at all. i used to say that when you cut the irs, you get tax cheats. because they are the ones who -- so that your honest taxpayer, the goal is not to audit them. we recognize there is nothing to gain by wasting taxpayers time or their time. and the goal is to see if there is funding that overtime, we couldn't get data analytics or better intelligence. so you can do things like audit large partnerships. what most people don't realize is partnerships are audited by -- today, many of these have thousands of partners, and some of those partnerships or partnerships with thousands of partners. and so far, we have been very limited to be able to ana

banned from an important global tech conference hosted by you states. portugal ukraine's 1st lady yellen, as the landscape was the keynote speaker of the web summit conference. and she had reportedly threatened to, quote, apply significant influence on sponsors if the gray zone wasn't bond news outlets was initially granted a press pass for the events which was subsequently cancelled. the grey zones editor in chief, again says the move to been the outlet is yet another example of ukraine's fights against freedom of the press. the ukrainian government's war or on the free exchange of ideas and free expression. moving into the heart of western europe with the direct personal lobbying campaign of ukrainian 1st lady orland as alaska to ban the grey zone from a major tech conference to which we were invited web summit in lisbon, portugal we have the gray zone are one of the few english language, us based outlets that is reported on the ukrainian government maintenance of a defacto hit list that contains the names of over 400 journalists. we have reported on this list, mirrored for ads as well

it was only earlier this month that you, us treasury secretary, janet yellen vowed to work with european allies to help them understand how the biden administration's inflation reduction act was actually a good thing for europe. but france and germany in particular still aren't seeing it that way. the leader of german chancellor, olaf schultz is social democratic party. lars cling bile has just warned that german industry is on the verge of bailing to the u. s. which has reliable cheaper energy, attractive tax incentives and the supply chain and labor climate that hasn't been hopelessly deregulated by the incompetent tinkering of brussels bureaucrats. western economic, alice generally concur with the dire assessment and warren of industrial shut down for germany and the looming recession for the euro zone. meanwhile, the french government is shoveling 10000000000 euros in aid out the door to businesses in an attempt to buffer the skyrocketing energy costs. that is, even though french president, a mighty red my coal had previously accused schultz of distorting. and i'm leveling the europe

let's hope we finish finish line up and high yellen widen up there's still 20 kilometers to go for lola and most of the others here. it's not about winning. it's about finishing any way she can like i just want to leave it. i'm not going to present them next year. so heavy. but again, it's of them not only that the co lead challenge, but it's meant to tell them of course, like self tall can mindset is what take me to the finish line because everyone here is facing what i'm facing well in this together. so. 6 to get that into line with the sun and a strong headwind makes a race particularly tortuous. and for more than 3 hours, the 1st part of the race is done. now, it's a matter of running 6 and a half kilometers. ah, getting hot. that's one case with the co tory women here aren't just fighting scorching desert conditions. they also face other obstacles. dumbness, the honey. i haven't been at that point, but some people keep telling me to go up sports. oh, here in guitar we have customers and traditions which involve women staying at home . but so unfortunately you don't see many women d

it was in moscow spending pies with russia. ortiz runjun sharma has a story you said to see janet yellen is in new delhi and in her 1st with india, she sees india, i in her countries, but huge will translate offline teams and an uncertain time for the global economy . he also gets more school as india continues to buy more and more russia noise. listen into what she said, take russian energy exports. russia has long presented itself as a reliable energy partner. but for the better part of this year pollutant is weaponized rushes, natural gas supply against the people of europe. it's an example of how malicious actors can use the market positions to try to gain geo political leverage or disrupt trade for their own gain. recognizing energy, okay, but not to mention about us being the one the imposing sanctions in boston. i remember december, maybe we could be 7, would a price cap on russian oil. and it's been suggested that in the army benefit from the price cap on the oil, not really interested. we've seen a doctor as a shot guy was a foreign minister of india time and again speak pretty

this is what the us treasury secretary, janet yellen, calls modern supply side economics.rd yards on growth. but we'll also need to be pragmatic on the basic lack of people. we won't ignore the need for workers to come to this country. we can't have a situation, as we did with hgv drivers, where temporary shortages threaten to cripple entire sectors of our economy. that would be anti—growth and it would be anti—business. but i want to be clear here. with my labor government, any movement in our points—based migration system, whether via the skilled worker route or the shortage occupations list, will come alongside new conditions for business. we will expect you to bring forward a clear plan to boost skills and more training, for better pay and condition, for investment in new technology. now we can talk about how this is done. dialogue is at the heart of partnership. but negotiation with trade unions will be part of it. i said at the tuc conference, my labour party is unashamedly pro—business. and i say here today that trade unions must be a crucial part of our partnership

she tweets priyah by sue, who is a, i think in barley of the g 20 talking about i wonderful janet yellen is the black rock vassal federal reserve member. even elizabeth warren didn't think much of her support for that. and she was the one in 2017, he said there wouldn't be a economy crisis. so it's very difficult from that interview to take the, the managing director of the world bank seriously, especially when of course, bricks and s c o r. you know, that they're coming fast on the tracks of both as institutions after the chinese trade partners they, they're being affected by the american restrictions on beijing's international trade. what do you make of that? i mean, the idea that there are impartial observers at the will trade organization, the managing director of the world bank, the i m f. m. the idea that these institutions, which clearly, as a matter of policy, are opposed by a large suede to the global south fee chinese communist party and so forth. i mean, you know, about time that some of these local vessel states realize they are not their friends, they're not a friend to thos

you know, i don't know why yellen has said this again. our minister was in, in washington just a few days ago. and he said very clearly on television, that we will buy oil wherever we can get it. the cheapest price possible because we are energy hungry country, 85 percent of the energy is imported. and we have a moral duty to our own people. and therefore, we are not going to be forced to buy or from before that country will buy with that . whatever it is, the most advantage is that is one. the other thing is this gap is not going to work because you got it. oil market is highly integrated and they can be double prices. and if you're going to have a price gap on version oil, why not applies cap on on all other producers, even though beckett cents. i mean this is what eventually do everybody has to be very careful. why not a gap in the gas prices? we are buying oil and gas from united states. why not a gap on, on both? right? why not a gap on other commodities? so this is an on ending game. so i don't know why united states is playing this

secretary yellen has directed the irs to report back to her some sort of operational plan by february. what would you like to see in it? what are you looking for and how much detail you expecting? what would be a good start in your review? what are sort of the core elements that you think need to be included? >> i will say numbers. i think if you produce a plan and i love the agency's got a great workforce. as a strategic plan that has almost no numbers in it. i think if this is going to work you're going to have to have this is what we're going to accomplish with some specifically. whether it's raising a couple years ago some 11% to one 100% or 90% and people get through on an average of two or three hours. in the short run got to have things out there people can see where they are making progress or not maybe don't make all the goal but 80% they will still know where you are. the longer-term challenges some of this is going be hard to project you're going to have to say this is where we are going. corporations have five-year strategic plans the budget for the next year. congress nee