yellen: i agree it is an unusual thing to have happen. it certainly takes skill on the part of the fed to calibrate monetary policy properly. but, if you just look at the data, it looks as though that's the path we are on. and i will say this, the last several years, what i've been saying when they asked about the economy is that, i believe it's possible to have a soft landing. there's nothing inherent about those sharks that have hit the economy that make it necessary to have a time of high unemployment to get inflation down. many economists were saying, there's no way for inflation to get back to normal without it in tailing a time of high unemployment or recession. one year ago, i think many economists were saying a recession was inevitable. but actually, i have never felt there was a solid intellectual basis for making such a prediction because as long as inflation -- the times in the united states needed a downturn to get inflation down, those were times like after the oil shocks of the 1970's when inflation expectations clearly had

yellen: clerk anna valencia. [applause] sec. yellen: the sheriff. [applause] sec. yellen: illinois state comptroller susanna mendoza. [applause] sec. yellen: secretary of state lexi gianulias and state treasurer michael barrett. sec. yellen: i am honored to be here at the economic club of chicago to talk about the middle class in america. from the pandemic to the recovery to what's ahead. it's a fitting story to tell in chicago. like many american cities, chicago was built by a middle-class that drove industrialization and innovation. chicago and its middle-class residents have also faced challenges for decades. the story of the middle class is not separate from the state of the economy. it is at the heart of it. by middle-class, i don't mean a narrow or fixed group. i mean workers in industries and occupations from firefighters, nurses to factory workers. americans are at the very top. president biden and i believe the gdp growth is not meaningful if it is not shared. if it doesn't impact the lives of these americans. we also believe that a stronger middle-class i

yellen: i think that will be very important.nflation remains low, the labor market remains strong so people feel go about her job prospects, i think we will see sentiment proved. i mentioned in my speech investments that we are making in our econo. investments ke a while to pay off. but more and more, peopl are going to s that the roads on which they may bspent hours a day stock in commutes that have been terrible, areeing improved. that bridges that weren the verge of collapse or being bein. the internet is becoming widely ailable even in areas where i remember during the pandemic, it was heartbreaking to see families would sometimes drive after dinnero a mcdonald's parking lot so that their kids could have access to the internet because they didn't have it in their own area. all of that is chging. investnts, there are so many investments in workforce training and development. new investments in manufacturing facilities that are being built, many of them in part of the country that had not seen that in a long tim a huge surge i

secretary yellen, we all appreciate.a little bit of time to do some q&a before you go to your next commitment. you talked about how the economy is clearlyyo improving. we haver a great gdp report. inflation has slowed down. mortgage rates areon falling. job growth continues. it is very positive. four many americans, though, specifically voters, they tell us that the economy feels like it is heading in the wrong direction. how do we wrap our minds around the disconnect betweenery strong economic numbers but an absolute level of sentiment that one may think would be stronger given those results. >> let me first mention we have seen some turnaround through sentiment in recent months. the university of michigan consumer sentiment index has moved up quite a lot. inflation is now near term close to the lowest levels we have seen from that survey. i think americans do believe inflation is under control. inlast week axial survey showed that when people are asked about how they feel about their own finances, over 60% said they co

that is something that this administration, janet yellen in the president have to address. and bianna, as you know, when people think about the economy that's what they're thinking about. they're thinking about housing and childcare, and the price of gasoline. they're not thinking about gdp. >> purchasing power, and the choices they're making. >> absolutely, yeah. and the price of groceries as well. catherine, quickly to you. do we anticipate that the issue of the of fort ability -- may start to go back down? >> it is very unlikely that overall price levels are going to come back down. you'll see something go up a little bit, some things will go down a little bit because of supply issues, for example if you of a bird flu that causes egg prices to go up and then they'll go back down, but the overall price level throughout economic history generally trends upwards and that's what economists want in fact. they don't want to see overall prices going down, which is not super intuitive to the usual consumer, to the standard person. so i think part of the reason why you see so muc

treasury secretary, janet yellen is aaaware of. >> she is.g a major speech tomorrow in chicago. excerpts of the speech shared with cnn shows yellen will focus in part on how the administration wants to lift up middle-class families who are dealing with real-world financial problems right now. key line from the speech, yellen's going to say, i'm quoting, it is still too hard to be a working parent. we need to get american families access to affordable childcare and other support for their children. now on that point about childcare, care.com has a study out that shows that parents spend on average 24% of their household income on childcare. 24%. and almost half the parents who responded to the survey say they're spending more than $18,000 a year, again, just on childcare. yellen plans to talk about other areas that they can focus on to help the middle class including housing, education, and she's going to note that the expanded child tax credit, which went away, plunged millions of children back into poverty. now all this i think shows how bid

treasury secretary yellen exclusively telling abc news she believes there is no reason for a recession this year, as the white house hopes that these positive economic numbers will turn americans perceptions of the economy around. and this morning, the us economy shattering expectations, new numbers from the commerce department showing the nation's gross domestic product grew at a blistering 3.3% pace from october through december of last year. rapid growth quelling economists fears of a recession. we have an economy that has been growing at a good, healthy pace. >> i see no reason why that can't continue to. i think 2024 is going to be a very good economic year in an exclusive interview with abc news, is elizabeth shultz, treasury secretary janet yellen touting the growing economy but no reason right now why there would be a recession. there's no obvious reason why there would be the strong growth, driven largely by consumer spending, accounting for roughly two thirds of us economic activity. >> but recent polls consistently showing voters worried about the state of the us economy. an

treasury secretary janet yellen is going to deliver a major speech today, really focused on what thisdministration will do to help middle class families with the high cost of living, child care. our matt egan has reporting on that and he joins us this morning. they've got to change the narrative, matt, on biden cometbidenomics and people feeling it. >> janet yellen and the white house, they want to take credit for the economic comeback from covid. they are being very careful not to declare mission accomplished. that makes sense to me. when you look at the economic indicators, there no doubt bright spots, low unemployment, 40 401(k)s are up. people are feeling better about the economy. they're going to come off as tone deaf if they focus on the positives. there is an affordability crisis. in the major speech by yellen, she's going to flat out say, quote, it is still too hard to be a working parent. she's going to focus on child care, housing, education and note that millions of children were plunged back into poverty when the expanded child tax credit went away. the message from yellen

secretary of the treasury janet yellen just said today, and i quote, "the story of the middle class isot separate from the state of the economy. it is at the heart of it." workers from firefighters to nurses to factory workers -- that's middle-class. at least that's where i come from. that is what is it's all about. it shows that we can get big things done in america if we start beeving in ourselves again. our infrastructuresed to be the best in the world, but over a period of time, we stopped investing in america. we stopped investing in ourselves. we are now ranked the 13th best infrastructure in the world. united states of america, number 13 in the world. how in god's name can we have the strongest economy in the world if we don't have the strongest and best infrastructure in the world? this is not possible. so we are determined to turn that around and we are determined to turn it around in a big way. [applause] that is actually what we are doing. three years ago, i came to wisconsin to almost this very spot to talk the bipartisan infrastructure long that i signed with the support o

the white house needs to pick up the phone and tell treasury secretary yellen they meant what they saidthe racial equity order, and they expect progress on the treasury advisement committees recommendations forthwith. it's not complicated. we have a path forward, we recommended how to get it done, and the white house needs to step up and say we meant it. we need this aggregated data by race in the treasury and irs, we have it had, we have it at the department of labor we know how many people ride bicycles, but we don't know how taxpayers paid their taxes by race, it is a sin and a shame. >> i'm glad you brought up those examples of other places in government that already are doing this, because what it does is it eliminates the argument that we don't ever do this, we never look at these statistics, the fact that there are models that exist across other agencies is so critical for building a model that is consistent across all government agencies. >> i'm sorry, i actually call it treasuries exceptionalism. they are the outlier here. >> that's important to point out, and i'm glad you did.

despite that, janet yellen says the costs are a pain point for working persons. she highlighted the biden economic policy. she addressed the difficulties parents face with the rising cost of childcare and historically unaffordable housing market. >> it's still to hard to be a working parent. >> there's a lot that we should be doing to make it easier, both to work and to raise children, and to make it more worthwhile to work. >> despite the comments, yellen said the biden administration is squarely focused on lifting up the middle class. >>> now to recent mass layoffs with ripples of uncertainty through what many consider the tech capital of the world. this week, ebay announced they would cut 1,000 jobs. the software company s.a.p. eliminating 1,000 jobs in addition to the other cuts this year. from google to instagram to twitch to youtube, just to name a few. a lot of them are left wondering what to do, and some are not eager to reenter the tech field. we caught up with a san francisco woman who was laid off by a tech company in 2022. nancy correia lost her job a

next, treasury secretary janet yellen gives remarks about nation and the economy.ecretary yellen also discusses relations with china, interest rates, fiscal policy, and what she describes as a soft landing for the economy. the conversation took place during the wall street journal ceo summit. >> let's start with the let's se inflation report that just came out.

yellen sitting down with abc for an exclusive interview. >> but no reason right now why there would be a recession. there's no obvious reason why there would be. >> president biden touting the report, praising americans for an economy that's exceeding expectations thanks to the american people, america now is the strongest growth, the lowest inflation rate of any major economy in the world. as biden gears up for the election, he's been stressing how positive americans are feeling about the economy and crediting his policies for this strong growth. with the economy expected to be a key issue for voters in november. reena roy abc news, new york. >> well, these latest numbers do paint a rosy picture of the american economy, but why does it not feel so rosy for so many people? where is the reality between heyday statistics and a doomsday outlook? joining us live now to discuss this is stanford economics professor neil mahoney. and i should mention that professor mahoney, you also just finished a run as white house special policy adviser. right. did the biden white house uh- that is correct

megan, secretary yellen chiming in here. >> certainly trying to yell it from the roof tops yellen is hitting the road today as part of an effort to sell the administration's economic message. in a speech before the economic club in chicago this afternoon, she'll make the case that the biden team's investments in infrastructure, manufacturing and elsewhere are the reason why we're seeing that strong economic growth. treasury officials felt vindicated this morning by these growth numbers an official said they feel the data supports the approach they have taken on the economy, and that it suggests they were right to be optimistic at a time when most forecasters saw a recession coming the speech today marks the start of a revamped economic pitch, and she'll embark on a step-up travel schedule for 2024 to drive that message home. it's concerted effort to change the narrative here, and it's a nod to the fact that there's still a lot of economic pessimism around the country part of the focus is drawing a sharper contrast with the trump administration's record, and she'll say, for example, t

treasury secretary janet yellen talks about the u.s. economy and the biden administration's oh policy agenda with the economic club of chicago. on c-span2 the senate returns at 10:00 a.m. eastern to consider judial nominations for the seventh rcuit of appeals and district crts in indiana and california. you could also watch these events on the free c spann n video app or online at c-span.org. watch c-span's 2024 campaign trail friday night at 7:00 eastern on c-span online at c-span.org or download as podcast on c-span now, free mobile app or wherever you get your podcast. c-span, your unfiltered view of politics. discover the heart beat of democracy with c-span voices 2024 as we engage voters nationwide asking what issue is most important to you in this election and why. >> the issues that need to be addressed in this election is the economy and make sure that the american people can afford a good american dream life. additionally, we need to the address the abortion laws that all life is precious. >> immigration is my number one issue

secretary yellen was very specific. she said that would be a disaster for the american and chinese economy and the global economy. i was with her last night we would go spoke at the gala dinner of the u.s.-china business council. she went through this again and said we are not trying to decouple. president biden said at his press conference in california that we are against decoupling so we are not trying to tear this relationship apart. jake sullivan came here in a very important speech and i read the q and a firm brookings last spring and it's really important. he said we are not decoupling but we have to de-risk. what does that mean? the fundamental lesson we drop in the pandemic is that you don't want to have undue reliance on critical material and critical supplies from a country that might practice economic coercion against you in a crisis. you want to bring the supply chain for certain products closer to home. the united states itself or mexico or ireland are trusted sources. jake focused on what secretary raimon

or could it be janet yellen and what she will do?of corporate issuance. in addition, when you look at the issuance plan, they really ramped up portion of the bill issuance. i think that does little bit of a limit to the supply concern. i doubt we are going to get a big increase. it will be more about bills on the front and. -- end. more concerned about cta positioning. jonathan: we're always talking about that moment of reckoning. michael is brilliant and wrote about the boiling of the fraud between now and 2030. he talks about the projections that by 2030, all federal government revenues see an intro -- will see an interest on the federal debt. >> those comments have been part of markets for as long as i have been involved in them. i do not have any detailed opinion on that day of reckoning . i'm not even confident that it does arrive. but high levels of nominal gdp growth through something like a big boost in productivity -- i'm talking 50 basis points higher inflation. both of those things would do a great deal to reducing the siz

joining me now is treasury secretary janet yellen and mad dam secretary, thank you for joining us. we keep saying beating expectations, and beating expectations, and why are people continuing to underestimate the economy? >> well, there has been a lot of pessimism about the economy that's really proven unwarranted. a year ago most of the forecasters thought that we would fall into a recession. obviously, that has not happened. we have a good strong labor market. today's news as you mentioned showed that the unemployment rate remains low, and we added 216,000 jobs. and now, the pace of job creation over the last three months averaging 165, and that is down from a year ago when the economy was still recovering from the pandemic. it is something that's expected and desirable and consistent with an economy that has now recovered and transitioned to stable and steady growth. so, the labor market continues to fire on all cylinders, and the reports this week are a low level of initial claims for unemployment insurance, job openings remaining at healthy levels. importantly, inflation has c

months the biden administration needs america to realize that needs to change >> what does janet yellenin chicago today >> she wants to make a two-pronged pitch to voters. voters say we understand that price growth has been high and that has hit families. they want to do more part of that is elect us for a second tefrm we have more work to do. they want to celebrate the wins they had surprise that's the pitch she will make. >> if you look at the potus xaccount how does that different from how they have been doing >> we heard this before. i think what we have not seen from the administration before is really a concerted push to combat the economic pessimism in the economy. you know, this is almost an implicit acknowledgment there is negativity out there they have more work to do. they will draw parallels with the trump administration and what was done then and talk about this moving forward. >> we had a guest on a couple of days ago talking about the vibe economy. tomorrow, we have pce. how much does the late evident c latest consumer sentiment data bring into this? >> gdp figures are li

from president biden and secretary yellen. will it continue? lisa: the idea we could have a soft landing. but look at the polls. on my screen right now, clear politics. president biden's job approval. harvard harris, -20 on their spread. abc news, negative 25. has a message to resonate with the american voters? jonathan: is the calendar on their side this year? we will catch up with the treasury department a little bit later. we will talk to mohamed el-erian as well. he thinks they have to do a better job in explaining the exceptionalism, u.s. exceptionalism in the global ponding -- economy right now. lisa: the story has been a little hard to tell. it has been inflationary. have they had enough time people are settling into better economic environment? how clearly can they tell a story that is somewhat complicated and very much still in the discussion. jonathan: that is economic and financial markets. i want to talk about intel. down about 11% in early trading. decent results, just overshadowed by a poor outlook. wells fargo calling it soft gui

secretary yellen wille speaking at the economic club of chico. we will take you tre live at 2:00 p.m. we will have that here. you can also watch using c-span now or online at c-span.org. >> treasury secretary janet yellen tked about the u.s. economy and the biden administration policy at the economic club of chicago. watch live at 2:00 p.m. eastern on-span, our free mobile app, c-span now, or online at c-span.org. >> friday night, watching c-span's 2024 campaign trail, a roundup of c-span'sampaign coverage, to discuss where the candidates are traveling across the country and what they are saying t voters. this with first-hand accounts of political reporters, fitted poll numbers, and campaign ads. watch c-span's 2024 campaign trail on c-span come online as c-span.org, or download as a podcast on c-span now or wherever you get your podcasts. c-span, your unfiltered view of politics. >> for c-span's voice is 2024, we are asking voters what issue is most important to you in this election and why. >> my most important political issue is immigration. >

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then at 2 p.m., treasury secretary janet yellen talks about the economy wit the economic club in chicago. and senate returns at 10 a.m. for nominations. and you can watch now on the free c-span video app or online at c-span.org. >> if you ever miss any of c-span's coverage you can find it anytime online at c-span.org, videos of key hearings, debates and other events feature markers that guide you to interesting and news worthy highlights. these points of interest markers appear on the right-hand side of your screen when you hit play on select videos. this timeline tool makes it easy to quickly get an idea what was debated and decided in washington. scroll through and spend a few minutes on c-span's points of interest. >> discover the heartbeat of democracy with c-span's voices 2024 as we engage voters nationwide asking what issue is most important to you in this election and why. >> the two issues that need to be addressed during this election is the economy, make sure american people can afford a good american dream life. additionally, we need to address the abortion laws because all li

today president biden and treasury secretary janet yellen made it clear, they see economic growth as that this administration's vision has put the country on the right track. >> the experts from the time i got elected are insisting a recession was just around the corner, every month there was going to be a recession. well, you know, we have really strong growth. this is, here's some of the morning's headlines in the wall street journal. quote, u.s. shatters expectations. second headline, the u.s. economy boomed in 2023. third, u.s. economy grows a shocking pace. i love that, shocking pace. >> our country's infrastructure has been deteriorating for decades. in the trump administration, the idea of doing anything to fix it was a punchline. but this administration has delivered. >> as for donald trump, he was back in court after his win in the new hampshire primary. today he testified for less than five minutes in the e. jean carroll defamation case. the judge barred him from saying much, but under questioning trump called carroll's rape accusation falls. when asked if he intended to hu

thank you also for helping me prepare for my interview with janet yellen next hour, rahel sent me questionsvernight for that. as always, thank you. >> joining me now financial times associate editor and global business columnist ronna forar. thank you for being here in-person. this is nice. >> exactly. >> we just heard this report, better than expected. do you think this is going -- a trend that's going to continue? >> so i think looking for trends in 2024 is going to be really hard. >> fraught. >> yes, if i have one word for this year it's volatility. right? i was saying that i thought jay powell the fed chair got a little ahead of its skis saying we're going to get three rate cuts, the market has really rallied. there is a lot going on in the economy right now and in the world. you know, you've still got two hot wars, you've got big changes afoot in labor markets, you have technology like ai coming on board. so it's really, really tough to predict. what's interesting to me is main street and wall street don't want the same thing, right? >> it drives me nuts. i have to tell you, it literal

and certainly that's to be preferred from high inflation and i think janet yellen was saying there'sback. if your grocery bill is a huge burden on you right now, didn't used to be, sorry. it's just not going to change. as far as the president is concerned, he does this thing at all of his appearances and he really appears slow and physically frail, and i think what that means is the democratic party is really one health scare away from needing a new presidential candidate and that's not an easy thing to do with a sitting democratic president. elizabeth: byron, we've talked to economists and the federal reserve out of chicago and san francisco reporting this too. when you throw trillions of dollars into -- and hot money into an economy that's struggling and reeling after the pandemic lockdodowns and x-ray blanket, smothering pillow and a smothering pillow of regulations on that economy and you're going to get inflation and not going to have manufacturing and the good side of the business ramping up to mop all that out. so hawkeyes to what you're saying about biden's frailty, senator j

don, i think yellen learned how to play the game. the street cheered.s that is not good news, is it? >> it is less than what was expected so, you know, i'm a small government guy that means i'm a small government debt guy. any number larger than zero here is not going to thrill me but i would like it to be as small as possible. for everybody who is just hanging on the edge of their seat with white fingernails worrying about the ol' debt-to-gdp ratio, how we're circling going into a drain and debt inflation spiral, i want to remind you the debt debt-to-gdpo has been rock solid for two years. it is not going anywhere. debt is going up but so is the economy. from four years ago, just before the pandemic, the u.s. economy was 30% larger? of course we'll have more debt. it will be fine. charles: all right. yesterday, on yesterday's show stephen myron, he had written a great article about the fed's monetary handover what he says of inflation risk. sort of stealth politicalization of monetary policy this sort of relationship between the federal reserve and tre

larry: so treasury secretary janet yellen out on the hunt promoting "bidenomics." you know what?ng the data, the actual numbers, especially the last six months she has a pretty strong case right now empirically. treasury is arguing we have quote a soft landing, strong labor market, rapid growth in gdp, cooling inflation, and i just want to add virtually no economic model, whether the fed, cbo, professional forecasters survey, "the wall street journal" survey, the wall street consensus nor me, expected stronger growth with lower inflation the last six months. nobody forecasted this. talk about it, with steve moore, committee to unleash prosperity hotline and host of "moore money" on the wabc radio. steve forbes, "forbes" editor in chief, author of inflation, why it is bad and how to fix it. steve moore, i will start with you, objectively, empirically, this is a year where almost everyone in the world from the highest to the lowest expected either a slow, slow growth or a recession and a lot stick skier inflation than we got. the last six month have been you know, semi euphoric. th

jonathan: did you say yellen just to please bramo?u don't think that is interesting? jonathan: it was not in my top three, but i agree. it is interesting. chris: it is what started the rally. she came in below expectations on november 1. the market was beginning to rally, but it was that, that helped settle down the bond market which helped rally. jonathan: good to see you. chris harvey of wells fargo. equities on the s&p 500 positive by .1%. here is your bloomberg brief. >> it is a key week ahead for the u.s. economy. the fed is expected to keep rates on hold on wednesday, but jay powell's press conference could offer clues as to when they will begin cutting rates later this year. that comes ahead of the january jobs report due out on friday. low cost carrier ryanair lowering profit guidance for the fiscal year, citing higher fuel prices and issues with third-party booking websites. the airline, a major customer of boeing planes, also claiming they do not foresee any disruption to their aircraft delivery schedule. and are seeing impr

treasury secretary janet yellen make comments after the jobs report saying a soft landing is here. she did caveat methane, we will see what happens the rest of the year. do you agree much of the hard work, the slow down, has already happened? what is your base case for 20 24? tiffany: we have been calling our base case a soft-ish landing. ultimately, we think if you do get any sort of mild recession or economic stagnation, it will be not comparable to the 2008 recessionary experience or slowing experience, or even, a pandemic experience. ultimately, the unemployment rate, we don't it -- expect it to rise in that manner either. overall, we think next year will feel different from this year. we expect growth to stagnate. i think the things that drove the outperformance and resilience in the u.s. economy this year, including fiscal policy that was still sloshing around the economy, the excess real savings balance is, those types of things are normalizing. when those things normalize, we are still ultimately left with tight monetary policy, even though financial conditions have eased s

this| week, joe biden's circuits from week, joe biden�*s circuits from the treasury secretary janet yellenm the white has economic adviser have been on the road with the message that the road with the message that the president's strategies to help the middle class is working. on wednesday, the president picked up a major endorsement from the united auto workers.— endorsement from the united auto workers. donald trump is a scab. auto workers. donald trump is a scab- here's _ auto workers. donald trump is a scab. here's the _ auto workers. donald trump is a scab. here's the thing. - auto workers. donald trump is a scab. here's the thing. with - scab. here's the thing. with trump trouncing _ scab. here's the thing. with trump trouncing biden - scab. here's the thing. with trump trouncing biden with | trump trouncing biden with pulling in the economy at the end of last year, the white house history to change the narrative. pouncing on the latest gdp data to help it make its case. overnight oil prices havejumped to their highest levels this year. as you can see they're up about 3% as tensions

and in a new exclusive interview with abc news, treasury secretary janet yellen says she believes 2024ll be a good year for the nation's economy. abc news reporter jay o'brien has the details. >> reporter this morning the us economy shattering expected nations new numbers from the commerce department showing the nation's gross domestic product grew at a blistering 3.3% pace from october through december of last year. rapid growth quelling economists fears of a recession. we have an economy that has been growing at a good, healthy pace. >> i see no reason why that can't continue to. i think 2024 is going to be a very good economic year. >> in an exclusive interview with abc news's elizabeth schulze, treasury secretary janet yellen touting the growing economy but no reason right now why there would be a recession this year. >> there's no obvious reason why there would be the strong growth driven largely by consumer spending, accounting for roughly two thirds of us economic activity. >> but recent polls consistently showing voters worried about the state of the us economy. an abc news ips

that is not janet yellen's interest at all.harles: treasury auctions, put them up next week we get the auctions everyone will be watching particularly the 10-year note, what kind of demand there is and obviously if there is no demand and this pushes yields up, i don't know, it feels like, does that help the fed or does it hurt them? >> if it pushes them up and it tightens financial conditions there is less demand, bonds ultimately have to be bought, right? those bonds will be bought at the expense of something else if less money is paid for them, in other words higher yields that ultimately means there is less for financial assets. charles: but doesn't necessarily help the markets though? >> it doesn't help the markets under those conditions. that's really what we've seen. almost like the analogy, we're looking at a situation where the quantity of issuance is huge. almost unimaginable in the context after economy theoretically as strong as we're looking at right now if we actually think about what happens next, do people stop b

i mean, every democratic president feels they must appoint a wall street head of treasury, yellen is not, but w they were afraid of the confidence of the market. and alan blinder who was moderately liberal, he had an oral history, he says when a there is a dispute between treasury and the council of economic advisers, it doesn't matter who is right, it doesn't matter who has got the right data, treasury wins. and there were a number of times when clinton, you know, wanted to do something a little more progressive, whether he wanted a second breath, and treasury has 100 economists who are ready to write memos as to why that is wrong. f so treasury is, i think an independent agency. and the second is the federal reserve, which is completely, ever since the treasury accord was important in the 50s, it was independent and clinton is negotiating to foreign diplomats. well, i will stop for now, thank you very much. i appreciate that. >> so i think we will turn it over to you all.>> we would like to take questions from the audience. just raise your hand and we will bring you the microphone.

elizabeth schulze spoke to treasury secretary janet yellen on if the country will see a recession.ood morning, elizabeth. >> reporter: good morning, eva. the american economy is once again defying expectations. new data from the commerce department shows gdp, which measures spending from government, from consumers and businesses, grew at a rapid 3.3% rate from october through december. that was much higher than expected. it caps off a year that most economists predicted would end in a recession. and in this critical election year, treasury secretary janet yellen told us she does not see any signs the momentum in the economy is stopping. >> we have an economy that has been growing at a good healthy pace. i see no reason why that can't continue. i think 2024 is going to be a very good economic year. >> reporter: but no reason right now why there would be a recession this year? >> there's no obvious reason why there would be. >> reporter: now, yellen acknowledged that many house holds still are not feeling the strong economic numbers. she pointed to persistently high costs for rent an

. >> treasury secretary janet yellen discusses the u.s.nomy and the biden administration's policies at the economic love of chicago. watch live at 1:30 p.m. eastern on c-span. c-span n, our video app, or online at c-span.org. >> for c-spane are asking voters across the country, what issue is most important to you in the selection and why? >> the most important issue this political season is immigration. >> economics. >> i think that homelessness is an issue that needs to be addressed. >> we invite you to share your voice byoing to c-span.org /campaign2024, click the record your voice video and record a 32nd video telling us what it is and why. be part of the conversation. >> c-spanshop.org is c-span's online store. brow our apparel, books, home -- home decor. shop now or anytime at c-span sho >> a healthy demracy doesn't just look like this. it looks like this, where americans can see democracy at work, where citizens are truly informed■ our republic thrives. get informed straight from the source on c-span. unfiltered, unbiased, word for w

janet yellen talks abouthe u.s. economy and the biden administration agenda. c-span 2, the senate returns to consider judicial nominations for the court of appeals. you can watch these events on the c-span now video app or online at c-span.org. ♪ >> friday night watch c-span's 2024 campaign trail, a roundup of campaign coverage providing a one stop shop to discover where candidates are traveling. along with first-hand accounts from reporters,

[applause] ♪ all in this together 2:00 p.m., treasury secretary yellen talks about the economy and theation's policy agenda with the economic club of chigo and on c-span to thcenter returns to discuss nominations for the second circuit court of

so don't let biden and yellen tell you that china is a competitor. dealt with china every day at the united nations. they never saw us as a competitor. they always saw us as an enemy. we have to look at trying that the way china looks at us. so how do we deal with china? we stop the sale of our land and take back the land they have already purchased. [applause] we go to our universities and say you take foreign money or american money, but the days of taking both her over and we get that infiltration out of our universities. [applause] we blacklist any technology that helps china. we closed on these chinese spy bases. and we make sure we go to china and say we will end all normal trade relations with you until you stop hurting americans with fentanyl. you watch how fast they move because they need our economy. then we build our military. strong militaries don't start wars, strong militaries prevent wars. [applause] we needed to modernize. we have too many generals focused on wars of the past, bland, there, and c. we need to focus on cyber, space, hyp

treasury secretary janet yellen talks out the us economy in the biden administration's policy agendae economic club of chicago and on bley -- dirksen senate office building this and returned at 10 a.m. eastern am easrn to consider judicial nominations for the seventh circuit court of appeals and district cour in indiana and california. you can watch these events on the free c-span now video apps or online, c-span.org. >> discover the heartbeat of democracy with c-span's voices 2,024 as we engage voters nationwide asking what issue is most important to you in this election and why. >> i represent minnesota's third district in congress, candidate for president of the united states running in the democratic primary. the most important issue on my plate is winning the november election and defeating donald trump. most important policy every democrat, independent and never trump republican should be focused on. other than that i'm hearing costs and chaos being unaddressed time for a new generation to take the torch and bring us to a bright future. >> i'm running for president because our

his speech is probably more eliminating than janet yellen.s the time to talk about interest rate cuts and then we heard from john williams who said, were not talking about that right now. i wonder what we hear from him this afternoon. tom: seema shah said real rate stay where they are in push that against the shock of what we heard from j.p. morgan seeing a substantial decrease in forecasting. jonathan: yields are lower by two basis points. in the fx market things of looks snoozy. the euro is stronger 1.0944. the data is anything but strong in europe. tom: it is far too cut and chiseled to be one of the old guard. michael purves, and i put him in the group with dr. yedeni. they have been here before. thank you for joining us. what is your advice to the kids buffeted by social media and finance where you were just saying, it's attractive out there. get on board. michael: we just came out of a fantastic rally, of 24% last year. we are going to have some indigestion. one statistics that's interesting is 14% on 24% came from november and december

and all this weekjoe biden�*s sara droughts, janet yellen and others have been on the road to see thisdle class is working —— surrogates. would fairly, this has been the strongest on record. this is across demographic groups. such is the rapid decline in unemployment rates for black and hispanic americans. there are gains across the country as well. biden is notjust about a post— pandemic rebound and demand, we have also focused on an snarling supply chains and bringing more americans into the labourforce, which the labour force, which increases the labourforce, which increases supply. we are now doubling down on that strategy with massive announcements to position middle—class families to benefit from and to drive our economy's growth. find to benefit from and to drive our economy's growth. and on wednesday — our economy's growth. and on wednesday the _ our economy's growth. and on wednesday the present - our economy's growth. and on wednesday the present picked our economy's growth. and on i wednesday the present picked up a major endorsement from the united auto workers.- united auto

larry: steve moore, yellen and bidensen t don't talk about over spending and over borrowing, and overhey don't talk about that. which may harbor very badly in long run. >> it does, who finances, that government spending they think that money comes from god or wherever, it comes from we the people, they take resources, allocates resources and calls that stimulus to the economy, you like at microchips they have a huge bill, government gets involved it mucks things up. micro crymicrochip industry and semiconductor spree wouindustry would, stronger today had in a not got than bill through. larry: i have to jump, steve moore, and steve forbes and all forecasters out this thank you. >> coming up matt take taibbi writes democrats are sabotaging the election, we have alex marlow, monica crowley and caroline fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq

the president doesn't have the spine to fire janet yellen and powell. it is manifesting in higher interest rates, people can't start businesses, can't buy new homes despite bad college choices garnering hundreds of thousandings in student debt. >> patrick: i agree, white, black or brown, doesn't matter. pocketbook issues matter. i funded 60 businesses and people are being entrepreneurial. >> harris: so you are in the 12% that will get your debt paid, but you funded 60 businesses. he will get this this time. >> federal government owes you some student loan forgiveness because you served this country and that is something we have to refocus on and look upon when we talk about cities being -- >> harris: lead with that next time. coming up, we're awaiting donald trump's legal team to file challenges to ballot decisions in maine and colorado and could come as early as today. even key obama strategist is warning democrats back off that fight. stay close. (ella) fashion moves fast. (jen) so we partner with verizon to take our operations to the next level. (mar