treasury secretary janet yellen told lawmakers the u.s. hit its borrowing limit last week forcing her to rely on accounting maneuvers to buy them a little more time. washington correspondent jessi tenure has the latest on where that debate stands. good morning. house republicans and president biden are still no closer to reaching a deal. and secretary yellen worries what that could mean for the american people. >> it's a very responsible thing to do. treasury secretary janet yellen warned congress against using the debt ceiling as a bargaining tool would impose a self-imposed calamity on the united states and the world economy. yellen started to buy lawmakers more time last week when the u.s. officially hit its debt limit. she is temporarily suspending payments to federal employees. retirement and healthcare finds which she said should keep the government open until june. yellen reminded lawmakers this is not about new spending. this is about paying bills have already been incurred. but house republicans are demanding spending cuts in exch

ah, us treasury secretary janet yellen and china's vice premier lu. hey, pledge to manage their country's differences at a time of worsening economic ties. that's after lu called on leaders to abandon what he called their cold war mentality. also on the show, argentina's worth drought and 20 years is drying up the countries harvests. and we take you to europe biggest floating so large part in sunny portugal. this is the w business. i'm to now dumas unwelcome us treasury secretary janet yellen met with chinese vice premier lu, hey, and zurich to day, a high stakes interaction at a time where us china relations are increasingly tense. it's the 1st in person meeting for the 2 with yellen telling lou there was a pressing need for leaders in the u. s. and china to co ordinate on macro economic and financial conditions, and keep their competition from spilling over into conflict. lou for his part said he was willing to maintain dialogue. now yesterday vice premier lu was in davos at the world economic forums. annual me.

ah, us treasury secretary janet yellen and china's vice premier lu. hey, pledge to manage their country's differences at a time of worsening economic ties. that's after lu called on leaders to abandon what he called their cold, warm in salad. he also on the show, argentina is worth drought, and 20 years is drying up the countries harvests. and me take you to europe. sutton's biggest floating solar part in sunny portugal. this is the w business. i'm anal dumas unwelcome. us treasury secretary janet yellen met with chinese vice premier lu, hey, and zurich to day, a high stakes interaction at a time where us china relations are increasingly tense. it's the 1st in person meeting for the 2 with yellen telling lou there was a pressing need for leaders in the u. s. and china to co ordinate on macro economic and financial conditions, and keep their competition from spilling over into conflict. lou for his part, said he was willing to maintain dialogue. now yesterday vice premier lou was in davos at the world economic forums, annual meeting, selling a message

janet yellen is ready to meet with the kai niece vice premier in davos.keane will weigh in ahead of that meeting. stay with us. ♪ come on people, now, smile on your broth brother. ♪ everybody get together. maria: this week on "mornings with maria," we're live from the world economic forum in davos, switzerland. tomorrow, blackstone ceo stephen shwartzman and new york stock exchange president lynn martin joins us. thursday, brian moynihan and howard lutnick will weigh in, th howard lutnick will weigh in, th our all-star lineup. it's all right here on "mornings with maria." sal like your workplace benefits and retirement savings. with voya, considering all your financial choices together can help you make smarter decisions. voya. well planned. well invested. well protected. who's on it with jardiance? ♪ ♪ we're the ones getting it done. we're managing type 2 diabetes and heart risk. we're on it with jardiance. join the growing number of people who are on it with the once-daily pill, jardiance. jardiance not only lowers a1c, it goes beyond to reduce the risk

this, after yellen and the vice premier met. let's bring in our politics correspondent.n that meeting? >> well, to some extent this was a key confirmation of a pause in tensions between the u.s. and china. it's worth noting that china put out via state run media platforms that there is continued concerns that the premier expressed about u.s. sanctions at issues over technology that are continuing to endure. it's worth bearing in mind that although beijing has been relatively muted about some of the very sweeping restrictions the biden administration has put forth. there is still, room for them to move. the other element of this, although while it is positive, that yellen and liu are having their first of first -- face-to-face meeting, we are in china and this transition period between these outgoing cohort of reformers like liu, and a new incoming cohort of younger economic planners who really will be the ones that yellen and the rest of the biden administration will be dealing with when they resume in person meetings in china. paul: does this actually move the needle wh

. >>> on capitol hill tonight, a political showdown is brewing after treasury secretary janet yellen warned congressional lawmakers that the u.s. is projected to reach its statutory debt limit on thursday. yellen now urging both parties to quickly pass legislation to either raise the federal debt ceiling or temporarily suspend it, saying failure to do so would cause irreparable harm to the u.s. economy. abc's em nguyen joins us from washington. this could impact millions of americans. >> reporter: right, exactly, whit. the deadline is in just five days and secretary yellen says raising the debt ceiling does not mean more spending but rather just allows the government to finance existing obligations, including tax refunds, military salaries, social security and medicare payments. if congress doesn't act soon, yellen says the treasury department will have to take, quote, extraordinary measures to avoid defaulting on the nation's $30 billion borrowing capacity. if it lead on it could lead to a shutdown. it's likely to trigger a bitter battle in the house who want to leverage negotiation

treasury secretary janet yellen told lawmakers the u.s.it. >> its borrowing limit last week forcing her now to rely on accounting maneuvers and creativity to buy them more time till they can make a does that mean shell our dc correspondent jessi turnure is live in washington with the latest. hi, jessi. >> yeah, good morning, darren james. so house republicans and president biden are still no closer to reaching a deal. and secretary yellen worries what that could mean for the american people. >> it's a very responsible thing to do. treasury secretary janet yellen warned congress against using the debt ceiling as a bargaining tool would impose a self-imposed calamity on the united states and the world economy. yellen started to buy lawmakers more time last week when the u.s. officially hit its debt limit. she is temporarily suspending payments to federal employees, retirement and health care funds which she said should keep the government open until june. yellen reminded lawmakers this is not about new spending. this is about paying bills ha

treasury secretary janet yellen told lawmakers the u.s. its borrowing limit last week forcing her to rely on accounting maneuvers to buy the more time. washington correspondent jessi tenure has the very latest on where the debate stands. house republicans and president biden are still no closer to reaching a deal. and secretary yellen worries what that could mean for the american people. >> it's a very responsible thing to do. treasury secretary janet yellen warned congress against using the debt ceiling as a bargaining tool would impose a self-imposed calamity on the united states and the world economy. yellen started to buy lawmakers more time last week when the u.s. officially hit its debt limit. she is temporarily suspending payments to federal employees, retirement and health care funds which she said should keep the government open until june. yellen reminded lawmakers this is not about new spending. this is about paying bills. this already been incurred. but house republicans are demanding spending cuts in exchange for raising the d

treasury secretary janet yellen told lawmakers the u.s. hit borrowing limits last week and that's forced her to rely on some creative accounting measures to buy them some time maneuvering yard. dc correspondent jessi turnure has more on that live. good morning. jessi. >> orange is well darren james. so house republicans and president biden are still no closer to reaching a deal. and secretary yellen worries what that could mean for the american people. >> it's a very responsible thing to do. treasury secretary janet yellen warned congress against using the debt ceiling as a bargaining tool would impose a self-imposed calamity on the united states and the world economy. yellen started to buy lawmakers more time last week when the u.s. officially hit its debt limit. she is temporarily suspending payments to federal employees, retirement and health care funds which she said should keep the government open until june. yellen reminded lawmakers this is not about new spending. this is about paying bills that have already been incurred. but house

. >> we had janet yellen implement extraordinary measures to tide the u.s. over until june.ocus now is on congress to sort out this issue for a longer term. you've got this not of hard-core republicans in the house of representatives and a very stubborn sounding joe biden leading the democrats on the other. who is going to give in? what is going to happen? >> thanks a lot -- excellent question. this has become a particularly familiar dance we have been -- but we have been having partisan fights concerning the debt ceiling or a majority of one party is lining up against the other since 1953. i want to underscore that there is no good era for the debt ceiling. it is also not designed to result in fiscal restraint. it was designed to give the treasury more flexibility when it was originally created in 1917. we are perfectly capable of raising it without having any effect on government taxing or spending. of course, it is being used as a tool to try to bring people to the table in terms of having some larger bargain. obama and speaker boehner attempted and failed at a grand barg

i'm an album allah, unwelcome us treasury secretary janet yellen met with chinese vice premier lu. hey, in 0 to day, a high stakes interaction at a time where you asked china relations are increasingly tense. it's the 1st in person meeting for the to with yellen telling lou there was a pressing need for leaders in the us and china to co ordinate on macro economic and financial conditions and keep their competition from spilling over into conflict. lou for his part, said he was willing to maintain dialogue. now yesterday vice premier lou was in davos at the world economic forums, annual meeting, selling a message of openness from china to the world's elite. 12 involve, well, 1st off, the covert 19 situation is normalizing china has passed the infection, peak, and things are getting back to normal. foremost of society through the pace of recovery from the peak of infections to returning to normal was very fast faster than we expected. secondly, normal life and production of fully back to normal hospitality tourism and other consumer areas of back to normal. here are some surprising f

treasury secretary janet yellen landed in zambia.he is calling a major restructuring of the southern african nations debt. zambia owes more than $17 billion to foreign creditors. meanwhile per capita income is slipping with 60% of zambians living in extreme poverty. yellin was on a three nation tour of africa as the biden administration seeks to revitalize the u.s.'s economic relations on the continent. jenny takes a closer look. >> the united states is all in on africa. u.s. tasury secretary janet yellen's message to the continent on her 10 day trip to promote deeper economic ties with african nations. on the second leg of her visit, she urged zambia's creditors to restructure the nation's debts after it became the first african country in the endemic era to default on its stance. the country owes $17.3 billion in payments to creditors, including china. in senegal, yellin voiced her concerns about chinese investment in the continent. >> many african countries are plagued by unsustainable debt and that is undeniably a problem. much o

treasury secretary janet yellen says the u.s.my remains at risk of recession amid high interest rates. yellen told bloomberg news she is encouraged a replacement is coming down and the labor market remains tight. economists expect the u.s. gdp to shrink in the second and third quarters, seeing a 65% chance of recession in the coming year. china has resumed issuing visas to japanese nationals, ending some of the retaliatory measures it took against covid-related curbs on its own travelers. the chinese embassy in japan issued a statement on its official we chat account. china's domestic plane trips almost doubled from a year earlier during the week of the lunar new year. trips jumped 80% as aging pivots away from covid zero. in tennis, novak djokovic has won his 10th us trillion open title, equaling rafael the dolls ran slam record for men's singles titles. now holds the two major titles as does the doll. after receiving his trophy on court, he described the win is the biggest victory of his life. global news 24 hours a day on air

i'm janelle dumas unwelcome us treasury secretary janet yellen met with chinese vice premier lu, hey, and zurich to day a high stakes interaction at a time where us china relations are increasingly tense. it's the 1st in person meeting for the 2 with yellen telling lou there was a pressing need for leaders in the u. s. and china to co ordinate on macro economic and financial conditions, and keep their competition from spilling over into conflict. lou for his part said he was willing to maintain dialogue. now yesterday vice premier lu was in davos at the world economic forums. annual me.

a white house official has said the white house has asked treasury secretary janet yellen to stay in post. we are told she accepted in december. the move ensures stability ahead of another upcoming fight in congress over raising the debt ceiling. that is your bloomberg business flash. dani: let's talk about activist investing. our next guest managed to gain 46% last year for his fund, and he did this by placing concentrated bets on stocks. let's talk to the man himself. james, what a pleasure to have you on the show this morning. last year we heard a refrain we've been hearing for the last decade, it is a stock pickers market and you want to be active. but last year it was actually true. can that strategy, can being active, how do you get that to repeat the same success in 2023? james: i don't know, but probably by doing what we have done. we look for companies and growing industries we buy these companies when their valuations are extraordinarily low. the one thing we do differently that has served us really well, we have an advisory board made up of some of the leading ceos and ope

why is janet yellen and africa?what we saw from the administration at the end of 2022 is a re-engagement the continent after years of the u.s. taking a step back. what we are seeing from the biden at nist station is wanting to show the commitment is there. secretary yellen is there on a 10 day trip, going to three countries. she was in senegal, they campaigned to be part of the g20. she will also be in zambia, which has a number of defaults, in particular debts to china, and then she will go to south africa. she is start of the administrations reintroduction to the continent. we will see president biden going there as well. we are really seeing them making that commitment known and taking their words into action. dani: less than a minute, just quickly, what can the u.s. do to counter the chinese influence? jennifer: u.s. officials say is not about china, we are seeing them doing making more investment. end of last year, we saw 55 billion dollars committed to the continent. we seen secretary yellen talking about a nu

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janet yellen putting in these emergency measures. the bond market does not seem to care. should they, given the train wreck last time we were up at the ceiling to this degree, that massive move into treasuries in 2011? ira: every two years, we have a crisis. frankly, it is very annoying. i am not one who is against fiscal constraint, but there is a time to do it and a time not to. janet yellen's announcement today that they would use extraordinary measures, not unexpected. the weird thing is, during different times this year, they may have to use extraordinary members, top them off, and then go back to using them again because they are inflows, maturities of debt, april 15 is tax day. then we will be under the ceiling again once all of the t-bills they've been issuing over the last week's mature. they are playing games, but i think one of the good things that janet yellen provided today, it puts congress on the clock. congress can now understand, we have to do something. it might be sooner than we were initially expecting. kriti: it looks like they have until about june t

secretary yellen also writes that the u. s. should be, quote, taking -- certain shortly measures to prevent the nonsense from defaulting on its obligations. now failing to increase or suspended at limit could delay social security and medicare benefits, tax refunds, military payments. today the senate minority majority -- chuck schumer in the house minority leader hakeem jeffries issued a statement saying, quote, a default forced by extreme maga republicans could plunge the country into a deep recession and lead to even higher costs for america's working families on everything from mortgages and credit card interest rates. democrats want to move quickly and pass legislation addressing the debt limit so there's no chance of risking a default. we've seen in previous debt ceiling standoff that even the threat of default leads to even higher costs for working families. republican leaders must do the right thing to protect social security, economy and our country, and quote. so, it's up to the republican caucus to figure this out, l

keir, let me start with you and how this trip plays into what janet yellen will say and the decisions she has to make between now and let's say june, july, august. >>. >> who would want to be janet yellen? you don't become treasury secretary for fun. she has a lot on her plate. and you laid it out really well. messaging to republicans, as they, do as some fear, try to leverage this, to try to cut government spending, whether or not that is the plan, her warning is pretty clear about the debt ceiling, about the danger of the default in june if it plays out like it did back in 2011, and that's not all she's having to deal with. she is here, too, as you mentioned, to meet with the deputy premiere out of china. now, that i think is a glimmer of some more constructive talks between the u.s. and china, after that meeting between president biden and president xi. and then she heads to africa, to sub saharan africa and there, if you like it, is a bit more complicated than this, but you know, to try to sway african countries that they don't necessarily have to rely on china, the way perhaps ch

then he meets janet yellen in zÜrich. that the secretary of state, the finance minister can instead of coming to davos, will go to zÜrich to meet with the chinese delegation. if you look at the chinese delegation, 60 officials, no billionaires, not many big business people. the tone is very different. wall street is here, but a lot of the focus will be on the making deals behind closed doors and not a lot of them want to be on panels this year. guy: it's interesting how the tone has changed. we're looking forward to it and we know there is going to be fantastic coverage. thank you very much indeed for joining us this evening. as francine said, very few gene seven -- very few g7 leaders, but one is the german chancellor olaf scholz. he is going to sit down with our editor in chief in berlin tomorrow. really looking forward to this conversation. i suspect they have so much to discuss. we have economic data out of china as well. retail sales and industrial production and gdp. we have the u.s. banks very much on deck. john wi

so surprisingly enough right now in africa, you'll find the us treasury secretary, janet yellen. she is on an 11 day tour of the continent. i making stops in senegal, zambia, later south africa, yellen described the visit as a step towards further economic cooperation. the united states is committed to building on africa, significant progress in economic development over the past few decades. africa, successful mean success for all of us and the united states is here as a partner to help africa realize its massive economic potential. well, in contrast, african media outlets have been saying the true purpose of janet yet on the trip is to promote washington's interest over the already strong ties the continent shares with china and russia. let's learn more. here's our africa correspondence, catabolic tucked, the us treasury secretary, jim g. ellen will touch down in the west african state finagle this friday. it's all part of joe biden's in patient and campaign promise to give more focus to africa over the next 2 years. yelling message will mirror that of how calling you as secret

treasury secretary janet yellen says the u.s. remains at risk of recession amid high interest rates. yellen told bloomberg news she is encouraged -- is encouraged inflation is coming down and inflation remains tight. economists expect u.s. gdp to shrink, seeing a 65% chance of a recession in the coming year. to china where they have resumed issuing visas to japanese nationals, ending some of the retaliatory measures it took against covid-related curbs on its own travelers for supper chinese embassy in japan issued a statement on its official we chat account. china's domestic plane trips almost doubled from one year ago during the week of the lunar new year. trips jumped 80% as beijing heads away from covid zero. at the pboc, they will extend three monetary policy tools for green technologies and the logistics sector. the chinese central bank says it will continue offering cheap funding for banks lending to firms that help reduce carbon in missions. it will do this until the end of 2020 -- 2003 4. they will re-extend the lending p

response from the letter from janet yellen?ouse to say they won't look at it and can't find one penny of eliminating waste, they are trying to put us into bankruptcy. >> cheryl: here is the letter, she says to congress, it is critical that congress act in timely manner, failure will cause irreparable harm to americans and big time global financial stability. we have debt and bills to pay, make sure we pay the bills. >> todd: curious to find out what she is thinking of to get to that solution, my main question for janet yellen. we'll see in the coming days. this flight attendant smuggling story. >> cheryl: before i go to this story, not all flight attend antss are drug smugglers, some are facing prison time. attorney for the flight attendant says this is commonly done, they don't get caught frequently. i disagree with this statement 1000 percent, but yeah, this flight attendant was caught trying to smuggle fentanyl into boston. does it happen? sure. is it rare? yes. make -- this is a small carrier. >> todd: when you and i go on

we have janet yellen meeting with the for mayor and devils. is this good news?onald: i think it is good news. you've already seen dependence on china from most parts of the developed world, certainly the united states. i think you've already seen a lot of supply chain reconfiguration. i am told that in fact if you look at the port of l.a. for several decades, most ships came from china. the largest single one now is vietnam. that's a sign, actually a healthy assigned to me that there is less dependence the we have a long way to go in a lot of things can change. francine: how much bigger do you want to grow the company? you try to buy a company which ended up not happening. why and does that mean that you have the capital to deploy elsewhere? ronald: state street is a very different bank. we do two things, manage money and support those that manage money, what we call investment services. these are both scale businesses and to the extent to which we can get more scale, they are scale because the technology investment is enormous. many banks have decided that is n

the fact we are addressing it -- the fact we are addressing it -- janet yellen is addressing it.for a while crazy. silvana, thank you >> you got it. >> a big coin? silvana, thank you. >>> now let's talk tech. it has been a hot year so far for many stocks. nasdaq on the three-week win streak up 3.5% so far this year this coming as or maybe because many big tech firms are laying off thousands of employees more than 55,000 layoffs so far announced in tech just this month. look at that just this morning, maybe another, there are multiple reports that spotify is planning a around of layoffs. all of this with microsoft and ibm and tesla and intel set to report their numbers this week let's talk more about it with ian whittaker. ian, thanks for joining us two ways to look at the layoffs. very difficult for the families and everyone involved in the layoffs. number one is they are predicting the economy and their business to slow and they need to trim head count number two, maybe they o over-hired in the last few years and getting back to where they need to be how do you read it >> i thin

yellen said the treasury could pay the bills through early june in the new letter, she did not give a timeframe democrats and republicans continue to point fingers at each other scott perry said enough is enough we must use the opportunity to rein in the spending in kentucky, senate republican mitch mcconnell tried to turn down the predicted lawmakers will reach a deal >> america must never default on its debt it never has it never will. we'll end up in some negotiation with the administration over what the circumstances or conditions under which the debt willi be raised >> we hear different comments from the house and senate which suggests there is a long way to go before compromise i'm ylan mui in washington >>> just wrapping up my personal last couple minutes here from davos. what a week it has been. we interviewed so many people and so many discussions about the monetary policy and direction of the economic growth and the panels that me and geoff and karen have conducted there is one more panel coming up in moments. geoff's panel has the imf and ecb and head of the bank of japan a

. >>> treasury secretary janet yellen warned that the u.s. will reach the debt ceiling as soon as next thursday, and extraordinary measures must be taken to avert defaulting. >> cnn capitol hill reporter melanie zanona and cnn economics and political commentator katherine rampheld join us now. melanie, janet yellen wrote this in a letter to speaker mccarthy. this is shaping up, i would imagine to be one of the first major battles in congress, and it's happening sooner than i think we thought. >> reporter: yeah, the clock is officially ticking. listen. we knew that congress was going to have to deal with this issue at some point this year, but now we have actual dates, and it is coming a little zsooner than we thought. janet yellen said that the nation's borrowing limit will be reached by later this month, and that the agency will run out of extraordinary measures to prevent a default by early june. so this is going to be a massive fiscal fight for congress in the early year -- the early months of the majority here, and speaker kevin mccarthy

>>t is one of the reasons janet yellen ishere. in ghana late last year as they were about t move on to the security council. one of the things i discussed with them is how to address the impact of this war on their economy. i met with farmers, a woman in particular who told me she was only able to plant one acre of her five acres because the price of fertilizer was too high. we are working with these countries to address issues. laura: what would really help african countries is if the war in ukraine would come to ad. what is your message to african leaders about how long the war is going on? >> first of all, my message to russia is end this war by pulling your troops out of ukraine. that will be the first step to addressing these issues. but in the meantime, until they do that, we have to ramp up the pressure on russia in a unified voice in the united nations. 143 countries condemned russia's annexations. 141 countries condemned their attack on ukraine. we will continue to build on that to increase the pressure on russia so that

yellen will be at some point heading to beijing as well.of time in beijing at 23. tom: i feel that very strongly. jonathan: annmarie, thank you. retail sales in america. after that -- just before, we will catch up with bob michele at j.p. morgan asset management. veronica clock from -- clark from citi as they make the push that we will get more highs. we underestimate how far this federal reserve is going to go. tom: you talk about the strategists, the optimists and those less optimistic. what i see pushing against it now is the vix which acts differently today than a recent days. 19.15. getting down to an 18 level is not noteworthy but there is. 23.18. jonathan: really interesting interview here at bloomberg yesterday. it is possible the fed will not initially do enough because the labor market proved more resilient. that is his takeaway at the moment. the one thing that can unravel the market and my biggest concern. inflation does not come down until wages do. wages don't come down until employment claim arises -- unemployment rises. tom:

including key meeting for janet yellen and venture for one anthony scaramucci >> good morning, brianocal union in germany says workers complained of unreaoeasonable wk a workw working hours. >>> janet yellen is set to meet with the chinese counterpart this week in the bid to ease tension with the countries yellen plans to sit down with vice premier in switzerland tomorrow the meeting comes after the biden administration blocked the sale of the chips to china and considers a ban on investment in some chinese tech companies. >>> and scaramucci is getting behind the u.s. arm tech company. he has support for the new crypto firm. bloomberg reporting that the founder will use his personal money and backing the startup. despite scaramucci's firm investment in ftx wiped out. brian. >> anthony scaramucci. reinvester of himself. thank you very much. >>> let's talk earnings. we are all gearing up for more big banks to roll out numbers. look at that burning central numbers from goldman sachs and morgan stanley reporting before the bell this morning. this comes after jpmorgan chase and bank of am

. >>> janet yellen has been out, u.s. treasury secretary has been on an africa tour of late post the world economic forum visiting zambia and closing things off in south africa and really having met with some of the energy leaders speaking about the energy transition and saying they are committed to helping south africa and support communities affected by the transition away from coal which has been a contentious issue in the country for a while. really, other factors she has been putting out and this is what we are getting from that discussion is that she is emphasizing that the united states is committed to ensuring employment for workers as well as young people. saying the united states is in discussions with the eu when it comes to the russian price cap that being an important and contentious issue which has sparked debate across europe with european ministers meeting consistently on trying to find a resolution to that and finally getting to some agreement. janet yellen saying she is encouraged the u.s. and eu will re

secretary yellen said the i.r.s. will not raise audit rates for taxpayers making less than $400,000, quote, relative to historic levels. what does historic levels really mean? i ask for unanimous consent for the record to submit a c.b.o. blog post from 2021 examining the biden administration's $80 billion proposal and stating that it would, quote, would return audit rates to the levels of about 10 years ago, end quote, and that the, quote, the rate would rise for all taxpayers. end quote. the speaker pro tempore: without objection. mr. smith: i yield one minute to the gentlewoman from west virginia, a member of the ways and means committee, mrs. miller. the speaker pro tempore: the gentlelady is recognized. mrs. miller: i thank the gentleman from nebraska. i rise in support of the family and small business taxpayer protection act. the last two years under democrat rule have resulted in terrible policies and more unnecessary taxes for the american people. americans have been feeling the weight of destructive policies

% has janet yellen has said it will be out of fundeding until june that is a week of conversation whato weeks of consideration we are not at that crucial point i don't think, that, you know, making it sound like over at the white house, i disagree with the stance on this. maria: look, they are talking about making extraordinary moves, and that is because they have to move money around, in order to pay the bills, because we are at the debt ceiling, you are right, once all those moves happen they will be okay until about june what kevin mccarthy has said already, but ken, look, mccarthy wants to sit down with the president, and identify areas, that they could cut for the next fiscal year, they don't want to hear about it. it is not even a conversation. >> you know, it is frustrating, to hear that happen right where president says no, not my problem meanwhile, pushed spending forward, debt ceiling issue is not drama they are making it up he to be how many times have we seen it take it to 11 thou hour come to deal they know they are going to raise it spent money they have no choice we all

secretary janet yellen said in a new letter to congressional leaders that she's now taking extraordinary measures to avoid a potential economic crisis. our washington correspondent jessi tenure reports now on the debt ceiling debate. >> the u.s. officially hit its debt limit thursday, but president biden and house republicans are no closer to reaching a deal. there will not be any negotiations over the debt ceiling. i think it's a sign of arrogance. if you would say he wouldn't even discuss to house speaker kevin mccarthy wants massive spending cuts in exchange for raising the nation's 31.4 trillion dollar debt ceiling. it should not be used as a political football. treasury secretary janet yellen started to buy the white house and congress more time thursday by temporarily suspending payments to federal employees, retirement and health care funds. yellin told congressional leaders these maneuvers should keep the government open until june. but if congress doesn't raise the debt ceiling by then the u.s. won't be able to pay for things like military salaries, social security benefits and

secretary yellen's meeting is tomorrow in february, secretary blinken is going to china, more talkingwe were in 2018. stuart: edward lawrence at the white house. back to the markets. a very powerful and important guy on wall street. his name is ken fisher. forgive me for digressing but i remember you as the guy who did a tv commercial saying i would rather have needles stuck in my i than sell you an annuity. you did say that. i do remember. >> i don't remember because i'm mostly blind anyway but i said a lot of things about a lot of things. stuart: you have been saying you are seeing a roaring bull market this year. make your case. >> first, to see it, you have to see the 2022, almost anything you say about it, could be set almost perfectly the same way about 1966 or just slightly differ the, rate hike, explosive inflation out of nowhere, regional war, the most divisive air in us politics, you could go to recession expectations, anticipation of capitulation and a bear market that was the same magnitude, starting the same day in january, almost the same day in october the fourth quarte

secretary yellen said the i.r.s. will not raise audit rates for taxpayers making less than $400,000, quote, relative to historic levels. what does historic levels really mean? i ask for unanimous consent for the record to submit a c.b.o. blog post from 2021 examining the biden administration's $80 billion proposal and stating that it would, quote, would return audit rates to the levels of about 10 years ago, end quote, and that the, quote, the rate would rise for all taxpayers. end quote. the speaker pro tempore: without objection. mr. smith: i yield one minute to the gentlewoman from west virginia, a member of the ways and means committee, mrs. miller. the speaker pro tempore: the gentlelady is recognized. mrs. miller: i thank the gentleman from nebraska. i rise in support of the family and small business taxpayer protection act. the last two years under democrat rule have resulted in terrible policies and more unnecessary taxes for the american people. americans have been feeling the weight of destructive policies

i think that's part of the reason you saw janet yellen come out today and say ok, here is exactly howuch time you have come you have until early june. i can do various things to prioritize how we pay our bills, but june is the deadline and you need to figure it out i then. laura: those five core anti-kevin mccarthy republicans that held the line until the end, they don't seem at all like they want to vote to increase the debt limit. that will be a very risky move that has real-world consequences for a lot of americans. nick, this week the house i want to expand to the other thing they tackled this week, they also voted on two antiabortion bills, one that would have subjected doctors who performed the receipt or to prosecution. you said that potentially reflects where the weight of the republican caucus is. why is that? nick: i think it shows in the wake of roe being overturned, the republican party is committed to further eroding abortion rights across the country. it's a central mission of the party so we will see more of that. politically to some extent, it illustrates the bind kevi

janet yellen warned the u.s.to take those measures to avoid crash into the debt ceiling, a limit on how much the u.s. can borrow to pay for things it already decided to spend money on, things like social security and paychecks for the u.s. military. if congress does not raise the debt ceiling, america won't pay its bills. that situation could come as soon as june. we don't know what that would look like because it never happened before, but those things are paychecks -- things like paychecks, and even social security checks. this issue is so important, presidents of both parties have asked congress, please don't use the debt ceiling as a negotiating employ. here's president trump in 2019 saying to democrats, do not risk the faith and credit in america to try and get something you want. >> when they start talking about using the debt ceiling as a wedge to negotiate or things they want, they have told me very strongly they would never use that. that's a very, very sacred thing in our country, that ceiling. we can n

too early and quickly the terms of wood and africa, everybody's called climate change. secretary yellen will travel to the ford motor company assembly just outside pretoria. a pleased us create that much needed jobs in an economy that's far too used to economic growth without jobs, but on friday, yelman's last day here in south africa, she will travel to implement the hat, lend of south africa's coal belts. it is day where she will need men and women who have build their livelihoods on coal. and she will tell them about the commitments made in the just elegy transition plan. but she will hardly tell them how fickle those commitments are or what they can do to their lives. gonzales at fidelity and pretoria turning the south american now where brazil and argentina are planning to establish a common regional currency to boost bilateral tray and shift away from the u. s. dollar. the move was announced by the brazilian leader after talks an argentinean capital. if it were up to me, we would always trade with other countries and national currencies, so as not to be dependent on the dollar and

colonial attitude of bending other countries to its will, this comes as us treasury secretary janet's yellen, for this africa to push america's agenda even sparking criticism from beijing of her latest statements, which she called the asian country at barea for the resignation of zombies, debt issues even of the united states one day solves that step problem and is not qualified to make groundless accusations against or pressure other countries out of selfish interests. because it cannot elevate that tremendous u. s. responsibility for the reason behind the world's dep issues let alone the fact that the united states domestic dep problem is now worsening. the world's economic and financial stability. zambia is struggling to pay off around $17000000000.00 of external debt. on a new study shows, the greater part of it is on is due to western loans, resorted to also reveals that $1000000000.00 was provided by the international monetary funds to make repayments, jonas yellen visited synagogue, where she tried to portray russia as the reason behind africa's food insecurity, but a political analys

the country struggling with a debt issued that yellen was quick to blame on china. does our teeth carrabas let out? it takes us through is no secret that washington has basing in its cross head. and here in africa, china is pervasive. while the west was busy looking inward since the financial crash of 2000 and 8th was accruing wealth and technological know how and making friends around the world. but while in the some be in capital us treasury secretary janet the ellen, played to our audience, claiming china is behind the african countries that problem kind of re pointing a finger child. though forgetting the 3 a pointing back them, we will continue to press for official bilateral and private sector creditors to meaningfully participate in debt relief for zambia, especially china. even if the u. s. one day solves is debt problem. it is not qualified to make groundless accusations against or press for other countries out of selfish interest because it can not at all alleviate yours tremendous responsibility for the reason of the world that issues where was western le

well, treasury secretary janet yellen set the stage for a major political battle here in washington,ng congress today that the u.s. will hit its debt limit next thursday. yellen says she could take extraordinary measures to keep the nation's bills paid, possibly until june, but at some point, the u.s. will go into default unless it raises the debt ceiling. house republicans are expected to use that threat to push for large-scale spending cuts. we want to turn now to the outpouring of tributes for lisa marie presley, who died thursday after suffering cardiac arrest, just weeks before her 55th birthday. we learned today that she will be laid to rest next to her son at graceland, the memphis home of her legendary father, elvis presley, who is also buried there. we get more now from cbs' elise preston. >> reporter: flowers rest on the gates of graceland, lisa marie presley's childhood home. >> it's surreal. it was just-- like, something is missing. >> reporter: she was at the family's iconic memphis mansion last week to celebrate what would have been her father's 88th birthday. a gracela

that $1000000000.00 was provided by the international monetary fund to make repayments, john it's yellen visited, senegal, where she tried to portray russia as the reason behind africa's food insecurity. but a political analyst told us that it's the west that has created issues for africa by losing the continents resources and industry you with from us it would, defunct, thus the leading f m i and lord bank giving money to africa or giving money today by that the in the frame of ballot that i'll release on ships to african countries, they put pressure, but they recuperate to what they div her in the long and within booth country sometime in some portland because they know that each one has v easy to pay. but that's why they said up in content, but you will give us dis, oh, in the us 3 dis enough, 3 in this industry, zambia produced a lot of gold. it would, it's reduced also in a lot of cost there. and so many others. some minute i love him. well, in, on that big round of focus on. yeah. then you as is looking for or do things on the the ground of them. yeah. well, not the latest from daw