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If these guys were a rose bush with so many thorns and so few flowers, you’d burn it! The Fed can easily be made to work but nobody apparently wants it to, or we’d change it. This rose bush puts out flowers that only stink and wither, but it has thorns the size of your fingers that cling to your pockets and tear at your flesh. We have three articles that were prominent in my news searches today that lay out just how miserably (for all of us) the Fed is failing at its actual mission. The first one by...

U.S. Treasury Secretary Janet Yellen said during a speech in Belem, Brazil, on Saturday that the price tag for a global transition to a low-carbon economy amounts to $78 trillion in financing through 2050. Yellen said that in order to achieve the goal of net-zero global carbon emissions, there would need to be $3 trillion globally in annual financing for the cause, which she said is a top priority for the Biden administration, according to the speech. In order to contribute to this, Yellen vowed to finance green initiatives in developing countries through multilateral development banks and develop “clean energy...

WASHINTON, DC — President Biden finally admitted this afternoon that he is no longer mentally fit to be President, then assured the nation that he will continue being president. "I have to face reality. My mind isn't what it used to be," President Biden announced Sunday. "I forget things. Sometimes I don't know where I am. Yesterday I mistook a houseplant for Janet Yellen. It's something about her face. So, with a heavy heart, I am announcing that I am no longer fit to be President and will cease campaigning. Still, you can sleep easy knowing I will continue running...

Still no sticker shock, Janet? Treasury Secretary Janet Yellen was spotted stocking up on groceries on Saturday — after dismissing a question about inflation and rising food prices earlier this week. Yellen, 77, and her husband, economist George Akerlof, stopped by a Giant Food store in Washington, DC, after grabbing lunch at Japanese restaurant Raku. The millionaire couple had six security people in tow but pushed their own carts full of reusable Fresh Direct grocery bags out of the store after stocking up. Yellen — who is worth an estimated $20 million — drew criticism this week when she appeared...

In Atlanta to promote the Biden administration’s efforts to quell the import of illegal drugs into the U.S., Treasury Secretary Janet Yellen announced new sanctions against members of a Mexican drug cartel accused of trafficking fentanyl, cocaine, meth and migrants through the southern border. Included in the sanctions are eight members of the La Nueva Familia Michoacana drug cartel, a notoriously violent group that wars for territorial control with a slate of other Mexican cartels. Also Thursday, Yellen issued an advisory to banks to help them identify and report suspicious transactions related to the sale an purchase of chemicals and...

On Friday’s broadcast of WBUR’s “Here and Now,” Treasury Secretary Janet Yellen reacted to reports raising the possibility that the Chinese Communist Party directly subsidizes the makers of precursor chemicals for fentanyl — a claim backed by a report by the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party — by stating that “we have seen the PRC take some very helpful steps.” And “there have been helpful developments with China.” But “We would like to see more steps and we would like to see the support sustained.” Co-host Scott Tong asked,...

During an interview aired on Thursday’s broadcast of the Fox News Channel’s “Your World,” Treasury Secretary Janet Yellen stated that the current interest burden of the national debt is at a “normal” level, but President Joe Biden wants to cut the deficit “and doing that would be compatible with making investments in the economy that are necessary to support its growth. But we’re going to have to let important pieces of the Tax Cut[s] and Job[s] Act expire.” Yellen said, “Well, the debt — the ratio of debt to GDP — we have a very large economy, and the ratio...

Treasury Secretary Janet Yellen contends that "all the caterwauling folks are doing over the high cost of food is unwarranted. Over 40% of the population is obese. Being obese is unhealthy. If high prices cause these people to miss a few meals that is a good thing." "Trump's libertarian idea that people ought to eat what they want will be the downfall of the nation," the Secretary opined. "I implore voters to look in the mirror and see how fat they've become by indulging themselves with all the fat and sugar laden food that the obese Donald Trump wants to...

Treasury Secretary Janet Yellen on Thursday said the swelling national debt is manageable as long as it stays around where it is relative to the rest of the economy. In a CNBC interview, Yellen also noted that high interest rates are adding to the burden as the U.S. manages its massive $34.7 trillion debt load. "If the debt is stabilized relative to the size of the economy, we're in a reasonable place," she told CNBC's Andrew Ross Sorkin during a "Squawk Box" live interview. "The way I look at it is that we should be looking at the real interest...

US Treasury Secretary Janet Yellen on Thursday urged G7 ministers meeting in Italy to consider “more ambitious options” to use frozen Russian assets to help Ukraine. The ministers and central bankers from the Group of Seven world powers are meeting in Stresa, on the shores of northern Italy’s Lake Maggiore, to prepare for a summit of G7 heads of state next month in Puglia. Yellen said the group would also discuss what Washington considers to be “overcapacity” of key green technologies from China such as electric vehicles, batteries and solar panels. Top of the agenda is a plan to finance...

LONDON, May 21 (Reuters) - U.S. Treasury Secretary Janet Yellen said there was a possibility Group of Seven nations would support Ukraine by as much as $50 billion using loans linked to seized Russian assets, Sky News reported on Tuesday. "I believe it's important for the G7 to work together to show a united front and to show that we can generate meaningful resources to support Ukraine over the next several years," she told Sky News.

On Tuesday’s “PBS NewsHour,” Treasury Secretary Janet Yellen predicted that President Joe Biden’s tariffs won’t cause any meaningful price increases for typical families and responded to a question on her criticism of the Trump tariffs as “taxes on consumers” by stating that Biden’s tariffs are different because they’re “are a targeted group of strategic sectors where we have developed a real overdependence on China.” Yellen said that with the Biden tariff regime, “I don’t think that anything will occur here that would be noticeable to the typical American family. Mainly, these tariff increases serve to protect firms and workers that...

On May 6th, the 2024 Annual Report of the Boards of Trustees of the Federal Hospital Insurance Trust Fund and the Federal Supplementary Medical Insurance Trust Fund was released. It’s a very long title for a report that simply tells us the financial state of Medicare and project the future financial solvency of the program. One claim of the report is Medicare solvency has been extended 5 more years than the 2023 projection, and won’t go broke until 2036. But as with all things involving the Biden Administration, that isn’t the entire story.The 261-page report should be a purely factual...

During an interview with Bloomberg on Monday, Treasury Secretary Janet Yellen commented on President Joe Biden’s reported forthcoming announcement of increased tariffs on China by stating that the move is being made because President Joe Biden wants to protect “the stimulus that’s being provided through the Inflation Reduction Act” to support certain industries.

The U.S. and China are deepening co-operation on financial stability issues, Treasury Secretary Janet Yellen said on Monday, with more simulations of financial shocks due after a recent exercise on tackling the failure of a large bank. Wrapping up four days of meetings in China, Yellen issued a stern warning to Chinese banks that facilitating transactions providing material support or dual-use goods to Russia for its Ukraine war effort would lead to "significant consequences."

During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen said that “Some low-income consumers are perhaps exhausting their buffers of saving[s] that they built up during the pandemic, we’re seeing a little bit more distress at the household level there.” But despite that, “we’ve got a good, strong economy” with “very strong domestic demand” that is “on a solid track” and “generally, households are in very good financial shape.” CNBC host Sara Eisen said, “I guess I’m just wondering if the economy continues to hold up, no matter what happens on the Fed.”

During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen responded to a question on whether she is confident that inflation will hit the target rate of 2% by stating that she expects that inflation “will continue to come down over time.” And “we can certainly get into the twos.” Yellen also stated that “we’ve had generally good news on inflation.” CNBC host Sara Eisen asked, “You’re still confident we can get to 2% this year? We’ve seen a little bit of a flare-up so far this year.”

US Treasury Secretary Janet Yellen called on China on Friday to address manufacturing overcapacity that she said could cause global economic dislocation and to create a level-playing field for American companies and workers. Starting a five-day visit to China in one of the country’s major industrial and export hubs, she said she would raise industrial overcapacity and what the US considers to be unfair Chinese trade practices during what will likely be tough talks with senior China officials. “There are a broad swath of economic interactions” between the US and China “that should remain uncontroversial,” she said at an event...

On Wednesday’s broadcast of MSNBC’s “Andrea Mitchell Reports,” Treasury Secretary Janet Yellen stated that a key plank of President Joe Biden’s agenda to lower costs is by “creating incentives to dramatically improve the use of clean energy in the United States” and “over time, this will help lower household energy costs.” Host Andrea Mitchell asked, “[H]ow can you — I know you’re in Georgia today — help get the message to people that the economy is better and improve it even more, get those grocery prices down, help bring down the prices that people are feeling at their kitchen table?”

"My expectation would be that ultimately there'll be insurance payments." 30 second video at link. Bonus clip: RNC Research @RNCResearch Treasury Sec. Janet Yellen claims Biden's priority is "getting the cost of living down" and "lowering energy prices." FACT: Overall prices are up 18.6%, electricity costs are up 28.4%, and gas prices are up 48% since Biden took office. https://twitter.com/RNCResearch/status/1773031172810961263