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During an interview with Bloomberg on Thursday, Treasury Secretary Janet Yellen reacted to negative sentiment on the direction of the American economy by stating that people “have been through a lot with the pandemic and the lockdown for almost two years, then a period of high inflation” and there are structural issues that have existed for a while, but people “do seem to feel good about their own personal finances.” Yellen said, “I think Americans have been through a lot with the pandemic and the lockdown for almost two years, then a period of high inflation. And, as you say,...

WASHINGTON, D.C. — U.S. Treasury Secretary Janet Yellen calmed growing concerns throughout the nation's capital this week by explaining the United States can easily afford to pay for two separate foreign wars because of the 20% "Friends & Family" discount she receives from Raytheon. "I've got you covered!" Yellen said with a smile after multiple U.S. officials expressed doubt the country could stay afloat financially while simultaneously funding wars in Israel and Ukraine. "With the killer discount I get from Raytheon, we'll be bombing people into oblivion on two continents, all without breaking the bank!" Yellen then produced her limited...

Janet Yellen has told Sky News the United States can "certainly" afford to support wars on two fronts, as the conflict between Israel and Hamas threatens stability in the Middle East and the US continues to back Ukraine's fight against Russia. Talking exclusively to Wilfred Frost ahead of a meeting of finance ministers in Luxembourg, the US Treasury secretary said the economy and public finances were in good shape to ensure backing for US interests abroad. "We do need to come up with funds, both for Israel and for Ukraine. This is a priority", Ms Yellen said. "It's really up...

Treasury Secretary Janet Yellen reaffirmed President Joe Biden’s globalist agenda this week, vowing that the United States is “not attempting to decouple from China.” “We are not attempting to decouple from China,” Yellen told Sky News on Monday. “We have a deep economic relationship and that kind of competition, trade, and investment is beneficial to both sides and we want an environment in which it can continue.” “We are deepening our relationship [with China],” Yellen continued, and said the Biden administration is not looking to “harm progress in China.”

US Treasury Secretary Janet Yellen said Wednesday that providing support to Ukraine and Israel are "absolute top priorities" for the United States and she expects bipartisan support despite political upheaval in Congress. The ouster of House Speaker Kevin McCarthy last week by Republican hardliners has raised concerns about a prolonged paralysis in Congress. Military and economic support for Ukraine "along with resources for Israel are our absolute top priorities for the Biden administration," Yellen said. "We've made that completely clear to Congress, and we believe there is substantial bipartisan support," she said at a press conference on the sidelines of...

Damn it, Janet! (Yellen) Former Fed Chair Janet Yellen, notorious for leaving rates too low for too long (TLTL) and then suddely raising them after Donald Trump was elected President, wants rates lower again for much longer. Make rates great again (MRGA?). On October 5, 2023, Treasury Secretary Janet Yellen made a very telling statement about the future course of interest rates. YELLEN SAYS DEBT SERVICE COSTS WILL BE 1% OF GDP FOR THE NEXT DECADE. – Reuters Her statement implies that the economy will be strong and the government will run budget surpluses, or interest rates will be near...

Treasury Secretary Janet Yellen went after House Speaker Kevin McCarthy (R-Calif.) Tuesday over House Republicans delaying passage of a continuing resolution to fund the government until both parties can agree on 2024 spending bills. “There’s absolutely no reason why we should have a government shutdown,” Yellen said in an MSNBC interview. “Democrats in both the House and the Senate and Republicans in the Senate are ready to pass appropriations bills or a continuing resolution to keep the government open and operating for the American people.”

On Monday’s broadcast of CNBC’s “Squawk on the Street,” Treasury Secretary Janet Yellen responded to what action the Biden administration could take to combat rising oil prices by stating that they’ll keep watching the situation, but they expect the prices to “stabilize.” Co-host Sara Eisen asked, “I’m wondering how you’re thinking about the gas price move, a big jump in the month of August. Crude is back above $90 per barrel. The Saudis are extending the production cuts through the end of the year. Are you looking at taking any action on this front?” Yellen answered, “Well, the president wants...

The Federal Reserve has officially reported a loss of $57 billion for the first six months of 2023. Quite a number! So the “Federal Reserve Banks Combined Quarterly Financial Report as of June 30, 2023” (CQFR)—a little-known document—is especially notable for its red ink. We can anticipate an annual loss of over $100 billion for 2023 and for the losses to continue into 2024. 1 How does a central bank, especially the world’s greatest and most important central bank, lose tens of billions of dollars in six months? An average person, influenced by the mystique of the Fed, might understandably...

Treasury Department Secretary Janet Yellen said she is “feeling very good” about the U.S. making a soft economic landing without a recession. “I am feeling very good about that prediction,” Yellen told Bloomberg when asked whether the U.S. would avoid a recession while still containing inflation. “I think you’d have to say we’re on a path that looks exactly like that.” While inflation has dropped since its peak of 9.1 percent last June, it ticked up for the first time this year in July at 3.2 percent. This was the first increase after 13 months of falling inflation, but that...

This week, Treasury Secretary Janet Yellen said "the 63% of Americans who disapprove of how President Biden is running the economy are wrong. They personally might not be doing very well, but that is mostly their own fault because those who are working with the President are doing very well. The Bidens have raised themselves out of the working class to become millionaires. Dr. Anthony Fauci has increased his net worth by over $300 million over the past few years." Former Clinton administration Labor Secretary Robert Reich seconded Yellen's take, saying "it's a Goldilocks economy. Hourly pay is up by...

On Monday’s broadcast of CNN’s “OutFront,” Treasury Secretary Janet Yellen responded to poor polling numbers on the economy and President Joe Biden’s handling of the economy by stating that people tell pollsters they’re happy about their own financial situation and “So, they seem to perceive the economy as a whole as doing less well than they are personally. But most Americans feel good about their own economic situation.” Host Erin Burnett asked, “The latest CNN poll, Secretary Yellen, shows that 75% of Americans believe the economy is in poor condition, and maybe that’s because, again, even though inflation rates have...

As The Buckinghams crooned, the mortgage market is a kind of a drag. Rates on 30-year mortgages in the US are now the highest since 2000, at 7.53%. Mortgage rates are now up 153% under Bidenomics. Rates have gone from sub 3% to above 7.50% under Inflation Joe. Yes, in part we are playing catch-up from Yellen’s Reign of Error as Fed Chair (keeping rates too low for too long). Only in Washington DC, does gross incompetance warrant a promtion to US Treasury Secretary. Career half-wit Mean Joe Biden is El Presidente and acting like a third world dictator.

Citing an increased risk of default, Fitch Ratings downgraded US government debt. Richard Francis, a senior director at Fitch, said "the rising quantity of borrowed money combined with a collapse of revenues raises the odds that lenders will not be paid back in full for the funds they have lent to the US government. It is our obligation to apprise future potential lenders of this fact." US Treasury Secretary Janet Yellen called the downgrade "flawed and entirely unwarranted. It's not as if we are unable to secure the funds that will be needed to pay off these loans. There is...

Fitch downgraded its credit rating for the U.S. government, from AAA to AA+, two months after the debt-ceiling crisis was resolved. “In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters," the rating agency said Tuesday. Fitch said the U.S. appeared to suffer from an “erosion of governance," pointing to the Washington brinkmanship over the debt ceiling as an example. With a rating of AA+, the U.S. still holds among the highest possible ratings, which Fitch saying the nation still benefits from a “large, advanced, well-diversified...

President Jimmy Carter is usually the bar for terrible Presidents. Under Carter, the US experienced economic stagnation and soaring inflation. At least it led to the election of Ronald Regan! So, Biden’s much mentioned Bidenomics have produced REAL MEDIAN WEEKLY EARNINGS FOR MEN that is currently below 1979 levels under Jimmy Carter. Even worse for Bidenomics, REAL MEDIAN WEEKLY EARNINGS GROWTH FOR MEN was -4.45% In April 2023, while the last reading prior to Covid under Trump was 6.674% YoY in February 2020. So, Bidenomics isn’t even back to Trump levels for men. I like this chart which I call...

How badly has Bidenomics and generally Federal spending has crippled the US? An example. The interest on US Federal debt is approaching $1 TRILLION (and Biden/Democrats REFUSE to cut any spending, not that Republicans are much better). To show up how messed up this is, the EU’s defense budget (remember Ukraine?) is far smaller that the US interest payments on their debt. That is, US interest payments alone on the massive Federal debt of over $32 trillion is over 6 times larger than the entire defense budget for the European Union! United States Secretary of Treasury Janet Yellen has an...

During an interview with Bloomberg on Monday, Treasury Secretary Janet Yellen stated that “we have and want to continue to have deep economic ties” with China and noted the near-record amount of trade between the two countries. Bloomberg Washington Correspondent Annmarie Hordern asked, “But when you’re looking at de-escalating, we’re trying to figure out what would be left on the table. Because what it feels [like] now is the administration is actually just amping up when it comes to potential tit-for-tat with Beijing. There is the outbound executive order that potentially we could see as soon as the end of...

Doubling support for war-torn Ukraine is the "single best thing" to help the global economy.Source: US Treasury Secretary Janet Yellen said on Sunday, 16 July, speaking on the sidelines of the G20 Finance Ministers' Summit in India, as reported by European Pravda, citing AFP.Details: Yellen said a "key priority" is to "redouble our support for Ukraine" as it defends itself against Russia.Following a visit to Kyiv in February, Yellen said she had seen first-hand the "huge difference" made by foreign aid to both civilians and the Ukrainian military.

Redoubling financial backing for Ukraine in its war with Russia is the “single best” way to aid the global economy, U.S. Treasury Secretary Janet Yellen said Sunday. She added boosting emerging economies and tackling debt distress also have their role to play alongside sending billions in taxpayer dollars to Kyiv. AFP reports Yellen used the sidelines of a G20 finance ministers’ summit in India to reveal she would “push back” on criticism there was a tradeoff between aid to Ukraine and developing nations. “Ending this war is first and foremost a moral imperative,” she told reporters in Gandhinagar. “But it’s...