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Mar 22, 2023
03/23
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janet yellen says the u.s. is not considering providing blanket the positive insurance to stabilize the banking system. we had a slightly different view from jay powell. he also dashed hopes the fed will be cutting rates this year. we will be looking for the bank reaction especially as we get more volatility across the u.s. banking sector. gold miners could see a boost. take a look at how we are setting up thursday as asia awakes to the fed decision to go 25 basis points rather than a pause and more significantly flagging that this is not the end of the road when it comes to the battle against inflation that more tightening is to come. ruling out the idea that we could see rate cuts this year. cindy futures we are up .6%. the fed pushing back against dovish expectations. we are looking at declines in sydney and also when japan gets underway. could see some gains when hong kong comes online. the aussie is trading stronger when it comes to the broader g10 and against the kiwi dollar as well. also watching the dol
janet yellen says the u.s. is not considering providing blanket the positive insurance to stabilize the banking system. we had a slightly different view from jay powell. he also dashed hopes the fed will be cutting rates this year. we will be looking for the bank reaction especially as we get more volatility across the u.s. banking sector. gold miners could see a boost. take a look at how we are setting up thursday as asia awakes to the fed decision to go 25 basis points rather than a pause and...
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Mar 17, 2023
03/23
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janet yellen declares bank system is sound as new rescues are ordered. that last bit making the front pages of the newspapers across the country. bigger banks moved to rescue first republic. that bank rescued by j.p. morgan chase citibank america wells fargo and others yesterday. that followed janet yellen testimony on capital hill. here is what she told lawmakers. [video clip] >> with the depos in every community bank in oklahoma, regardless of their size be lly insured now? are they fully recovered, every mentee bank in a oklahoma get the same treatment that svb just got or siature bank? >> theank only gets out eatment if the majority of the fbseaboard, -- fdic board, super majority of th fed, and i in consultation with the president determines the failure torotect uninsured deposors would create systemic risk and significant economic and financial consequences. >> what is your plan to keep large depositors from moving their funds out of community banks into the big banks? we have seen the emergence of banks over the past decade. i'm concerned you're a
janet yellen declares bank system is sound as new rescues are ordered. that last bit making the front pages of the newspapers across the country. bigger banks moved to rescue first republic. that bank rescued by j.p. morgan chase citibank america wells fargo and others yesterday. that followed janet yellen testimony on capital hill. here is what she told lawmakers. [video clip] >> with the depos in every community bank in oklahoma, regardless of their size be lly insured now? are they...
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Mar 23, 2023
03/23
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treasury secretary janet yellen saying the u.s. government is not considering packing all bank deposits. tencent is the one to watch when it comes to tech, revenue inching higher that managed to reverse those cook -- reverse two consecutive quarters -- ♪ let's find the right investments for your goals. okay, great. j.p. morgan wealth management. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh go. go scientist. go software. go cure. go production. go faster and safer. emerson automation software helps breakthrough medicines get to market at warp speed. go human go. go boldly. emerson. it's easy to get lost in investment research. okay, great. j.p. morgan wealth management. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, pl
treasury secretary janet yellen saying the u.s. government is not considering packing all bank deposits. tencent is the one to watch when it comes to tech, revenue inching higher that managed to reverse those cook -- reverse two consecutive quarters -- ♪ let's find the right investments for your goals. okay, great. j.p. morgan wealth management. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns....
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Mar 24, 2023
03/23
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vonnie: treasury secretary janet yellen as total u.s. lawmakers regulators would be prepared for further steps to protect the banking system if warranted. the comments, day after her remarks on nationwide deposit insurance rattled markets. >> the strong actions we have taken ensure americans' deposits are safe. certainly we would be prepared to take additional actions if warranted. vonnie: let's bring in kathleen hays. also joining us is adjunct professor of international and public affairs at columbia university in new york. irene, the comment that was added today before congress by the treasury secretary. was that game theory getting involved where yesterday she said we will not do anything, the banking system is fine. then banks dropped and she said we need to say something to placate the situation? >> what i find disturbing is that we are being reassured too much. we keep on hearing from the swiss central bank, from the fed , from all of the authorities that everything is fine. perhaps if everything were fine we would not need to be
vonnie: treasury secretary janet yellen as total u.s. lawmakers regulators would be prepared for further steps to protect the banking system if warranted. the comments, day after her remarks on nationwide deposit insurance rattled markets. >> the strong actions we have taken ensure americans' deposits are safe. certainly we would be prepared to take additional actions if warranted. vonnie: let's bring in kathleen hays. also joining us is adjunct professor of international and public...
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Mar 13, 2023
03/23
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BBCNEWS
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janet yellen says us taxa ers the banks. janet yellen says us taxoayers will _ the banks. janet yellen says us taxpayers will not _ the banks. janet yellen says us taxpayers will not be _ the banks. janet yellen says us taxpayers will not be footing i taxpayers will not be footing the bill for this. many people will be wondering who is footing the bill for this? well, the banks are charged a deposit insurance, a fund of roughly $100 billion that will be drawn on to cover any costs involved and frankly, the fed itself can simply cover these losses out of its reserves. but again, it begs the larger question — what will be the long run cost of the fed policy. just last week, the chairmanjerome policy. just last week, the chairman jerome powell threatened to raise rates even faster in the future. and this despite the fact that wage demands, wages in the us, actually slowed significantly last month, to less than 3% on an annualised basis. last month, to less than 396 on an annualised basis.— last month, to less than 396 on an annualised basis. when svb started to _ an annua
janet yellen says us taxa ers the banks. janet yellen says us taxoayers will _ the banks. janet yellen says us taxpayers will not _ the banks. janet yellen says us taxpayers will not be _ the banks. janet yellen says us taxpayers will not be footing i taxpayers will not be footing the bill for this. many people will be wondering who is footing the bill for this? well, the banks are charged a deposit insurance, a fund of roughly $100 billion that will be drawn on to cover any costs involved and...
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Mar 23, 2023
03/23
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janet yellen says that the u.s. is not considering blanket bank apposite insurance without working with congress. a senate subcommittee had asked her whether all protections for u.s. deposits would require congressional approval and she said that the heads of recently failed american bank should be held accountable. the u.s. fears that a war weary world might embrace the china ukraine ease plan. the presidents of china and russia discussed the proposals which the u.s. has rejected but dismissing it could lead china to argue that the u.s. is not interested in peace. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am lisa mateo, this is bloomberg. bloomberg. ♪ to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. what does it mean to be ever
janet yellen says that the u.s. is not considering blanket bank apposite insurance without working with congress. a senate subcommittee had asked her whether all protections for u.s. deposits would require congressional approval and she said that the heads of recently failed american bank should be held accountable. the u.s. fears that a war weary world might embrace the china ukraine ease plan. the presidents of china and russia discussed the proposals which the u.s. has rejected but...
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Mar 23, 2023
03/23
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certainly the janet yellen, jay powell split screen that caused concern and angst. janet yellen suggested there was no discussion around guaranteeing deposits putting her at odds with the signaling from jay powell. in little bit more relief coming through as u.s. investors away up those mixed messages. yields coming up about 23 basis points at the front end. that's deepening of the yield curve continues. the pound and focus as we lead up to the bank of england. strength coming through for sterling. the bank expected to hike. that is the shape of things across these assets. let's get back to the fed. hiking by 25 basis points jerome powell signaling may be more in store. >> if we need to raise rates higher, we will. for now, as i've mentioned, we see the likelihood of credit tightening. we know that that can have an effect on macroeconomy. we are going to be watching to see what that is. tom: in a senate hearing at the same time, janet yellen said regulators are not looking to provide like it insurance for u.s. savers. >> it was not considered or discussed anything h
certainly the janet yellen, jay powell split screen that caused concern and angst. janet yellen suggested there was no discussion around guaranteeing deposits putting her at odds with the signaling from jay powell. in little bit more relief coming through as u.s. investors away up those mixed messages. yields coming up about 23 basis points at the front end. that's deepening of the yield curve continues. the pound and focus as we lead up to the bank of england. strength coming through for...
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Mar 17, 2023
03/23
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janet yellen offered more assurance u.s. banks are safe and sound and we doubt the treasury secretary believes it, no one else does. the economy and banking system are a okay when they are not, the more markets get nervous. >> todd: that is concerning from
janet yellen offered more assurance u.s. banks are safe and sound and we doubt the treasury secretary believes it, no one else does. the economy and banking system are a okay when they are not, the more markets get nervous. >> todd: that is concerning from
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169
Mar 21, 2023
03/23
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CNNW
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what janet yellen is saying about that and the continued fears over u.s. banks. >>> and a player on the cuban national baseball team reportedly defects during the world baseball classic in miami. stay with us. if your business kept on employees through the pandemic, getrefunds.comom can see if it may qualify for a payrololl tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionalsts with its forms and submit the alication. thengo to getrefunds.comnalsts to learn more. sometimes you're so busy taking care of everyone else you don't do enough for yourself, or your mouth. but eventually, it will remind you. when it does, aspen dental is here for you. we offer the custom dental treatments you need, all under one roof, right nearby. so we can bring more life to your smile... and more smile to your life... affordably. new patients without insurance can get a free complete exam and x-rays, and 20 percent off treatment plans. schedule your appointment today. >>> we're following some major developments from
what janet yellen is saying about that and the continued fears over u.s. banks. >>> and a player on the cuban national baseball team reportedly defects during the world baseball classic in miami. stay with us. if your business kept on employees through the pandemic, getrefunds.comom can see if it may qualify for a payrololl tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionalsts with its forms and submit the alication....
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Mar 23, 2023
03/23
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BLOOMBERG
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i want to point to some of janet yellen's comments today. the market was waiting for what she was going to say. she spoke at 3:00 p.m. in the session. the bank index spiked having dropped as she spoke because she put the extra comment in that the treasury department would be willing to take additional actions if warranted. then they began to think what does that mean? does that mean it might be wanted? we don't know what is wanted. we do know that bad loans rose again to almost $100 billion. that is $143 billion or just under. let's have a listen to what janet yellen did have to say. >> destroying actions, we have made sure that american deposits are safe. we would be prepared to take additional actions if warranted. >> that was the comment on whether something was consoling or worrying, that is debatable. stock market investors are debating that as well. the bank slightly reduce their borrowings from to backstop facilities. that would be the discount window. let's go to bloomberg's and economic policy reward, the best, i saw about this new
i want to point to some of janet yellen's comments today. the market was waiting for what she was going to say. she spoke at 3:00 p.m. in the session. the bank index spiked having dropped as she spoke because she put the extra comment in that the treasury department would be willing to take additional actions if warranted. then they began to think what does that mean? does that mean it might be wanted? we don't know what is wanted. we do know that bad loans rose again to almost $100 billion....
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Mar 23, 2023
03/23
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BLOOMBERG
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it is a reaction to the janet yellen co
it is a reaction to the janet yellen co
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Mar 22, 2023
03/23
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BBCNEWS
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janet yellen, the head ofthe water. janet yellen, the head of the treasury _ water. janet yellen, the head of the treasury there, - water. janet yellen, the head of the treasury there, talking about how important these regional banks are, like svb, and they are very important, aren't they, in terms of the ecosystem within the us economy, small and medium is a rely on these banks, what if your outlook in terms of that? well, you know, the us banking system is really four banks, the central bank, the large monies and debates, the regional banks they silicon valley bank's, and the small banks, the regional banks provide very specific rights and services that the rest of the banking ecosystem doesn't provide, especially around the start—up community, venture capital, and there are entire segments of the market that aren't going to exist, silicon valley provided about 40% of the venture debt in the united states is one example. i think for the next few years it's going to be a big challenge for earlier stage and ventured back companies in the united states defined banki
janet yellen, the head ofthe water. janet yellen, the head of the treasury _ water. janet yellen, the head of the treasury there, - water. janet yellen, the head of the treasury there, talking about how important these regional banks are, like svb, and they are very important, aren't they, in terms of the ecosystem within the us economy, small and medium is a rely on these banks, what if your outlook in terms of that? well, you know, the us banking system is really four banks, the central bank,...
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Mar 17, 2023
03/23
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BBCNEWS
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so that's why we are hearing the words of janet _ why we are hearing the words of janet yellen, reassurance and confidence she was talking about _ confidence she was talking about. she wants to try and instill— about. she wants to try and instill that confidence in people that, as she put it, the us banking system is in a healthy— us banking system is in a healthy state, and that's why also — healthy state, and that's why also we — healthy state, and that's why also we see these major 11 private _ also we see these major 11 private banks, jp morgan chase, citigroub — private banks, jp morgan chase, citigroup is including injecting some huge amount of money, — injecting some huge amount of money, $30 billion, into first republic, — money, $30 billion, into first republic, to keep it alive. the one thing _ republic, to keep it alive. the one thing that _ republic, to keep it alive. the one thing that we _ republic, to keep it alive. tie: one thing that we are seeing republic, to keep it alive. ti9: one thing that we are seeing as you mentioned, janet yellen trying to reassure th
so that's why we are hearing the words of janet _ why we are hearing the words of janet yellen, reassurance and confidence she was talking about _ confidence she was talking about. she wants to try and instill— about. she wants to try and instill that confidence in people that, as she put it, the us banking system is in a healthy— us banking system is in a healthy state, and that's why also — healthy state, and that's why also we — healthy state, and that's why also we see these major...
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Mar 21, 2023
03/23
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FBC
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did you hear what treasury secretary janet yellen said today? she insists the bank situation is stablizing and the fed will intervene to protect small banks, all the kind of things you would expect but she also let out the feds are indeed mulling unlimited deposit guaranties if the bank crisis worsens. who pays for that? we'll ask former house majority leader eric cantor who fears well, taxpayers do. florida republican congresswoman anna paulina luna, on the law of unintended rescue consequences and violent crime worries this spring break in i guess the spring break capital of the world, florida. yeah. florida. ain't that a beach or should i say miami beach? welcome, everybody, i'm neil cavuto. glad to have you. sunny skies for stocks thus far. they have given up a lot of their gains, close to over 300 points earlier in the day. 126 points, to kenny polcari what he makes thiscom pac tuesday. kenny. >> how are you? i feel good about this comeback tuesday. a lot of angst we saw certainly was created out out of the hysta over the bank situation and
did you hear what treasury secretary janet yellen said today? she insists the bank situation is stablizing and the fed will intervene to protect small banks, all the kind of things you would expect but she also let out the feds are indeed mulling unlimited deposit guaranties if the bank crisis worsens. who pays for that? we'll ask former house majority leader eric cantor who fears well, taxpayers do. florida republican congresswoman anna paulina luna, on the law of unintended rescue...
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Mar 24, 2023
03/23
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then they watched janet yellen say yes, no. jay powell says yes, no, nobody sure. this is what is haunting them. these polls are not offended if they are polls and not boats. i just wanted track sentiment. one look sunday march 12 when they decided to guarantee silicon valley bank. that was a bailout and i don't think anybody liked it and i think biden is paying the price. >> is been paying the price for independence since the chaotic and unnecessary irrational pullout from afghanistan. he never won independence again. things like this don't help, who were independence, some relapse democrats i left the democratic party in a holding pen under powder they don't want to vote republican they want to feel convinced that we do it friendly and have solutions in finisher sentences and talk about the solutions. independence are also people who hate political parties they don't like washington trust washington they don't trust washington did not bailout something in california and nationwide silicon valley bank. he is not to get independence packets can be very hard to ever
then they watched janet yellen say yes, no. jay powell says yes, no, nobody sure. this is what is haunting them. these polls are not offended if they are polls and not boats. i just wanted track sentiment. one look sunday march 12 when they decided to guarantee silicon valley bank. that was a bailout and i don't think anybody liked it and i think biden is paying the price. >> is been paying the price for independence since the chaotic and unnecessary irrational pullout from afghanistan....
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Mar 16, 2023
03/23
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KQED
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in fact, the treasury secretary, janet yellen, was testifying to congress that she was meant to testify about the budget. but there was lots of comments and questions about what has happened in the banking industry in the last few days. have a listen to what she said. >> i can reassure the members of the committee that our banking system is sound and americans can feel confident that their deposits will be there when they ne them. this week's actions demonstrate our risk to ensure that our financial system remains strong in the depositors savings remain safe. david: for all of janet yellen's assurances there, isn't the truth of the matter that this whole situation leaves financial regulators and almost impossible task. because in order to control the situation, they have to bring down interest rates and that runs the risk of fueling inflation. >> absolutely. inflation has been the word for many, many days. you will know them interest rates have been climbing all around the world to try to contain inflation, and now we heard from the ecb that said, we are still going to raise interest ra
in fact, the treasury secretary, janet yellen, was testifying to congress that she was meant to testify about the budget. but there was lots of comments and questions about what has happened in the banking industry in the last few days. have a listen to what she said. >> i can reassure the members of the committee that our banking system is sound and americans can feel confident that their deposits will be there when they ne them. this week's actions demonstrate our risk to ensure that...
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Mar 26, 2023
03/23
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FBC
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treasury secretary janet yellen was sending confusing signals on whether all bank deposits are safe or whether those of the treated $50000 the current fcic guaranteed limit. how alarmed should we be the economic policymakers are clueless. let's talk about it with our panel lauren let me come to you first. it's pretty disturbing our key leadership here do seem that the federal reserve lost control of inflation completely and fighting to get back on top of it and then the process causing harm and damage with higher interest rates janet yellen doesn't seem to be able to make up her mind from one day to the next where people are going to be protected when banks fail that's not the leadership that we expect from washington, is it? >> when it comes to the fed it's really important what it remains political, jerome powell was appointed by trump and held over by biden, when the fed becomes politicized, as we see eventually starting to happen we saw that through coded what is the role and we republicans and democrats arguing about the role of the fed during covid would becomes politicized that'
treasury secretary janet yellen was sending confusing signals on whether all bank deposits are safe or whether those of the treated $50000 the current fcic guaranteed limit. how alarmed should we be the economic policymakers are clueless. let's talk about it with our panel lauren let me come to you first. it's pretty disturbing our key leadership here do seem that the federal reserve lost control of inflation completely and fighting to get back on top of it and then the process causing harm and...
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Mar 23, 2023
03/23
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they will also be watching the messaging from janet yellen closely as well. she, for her, enemy number one is the banking sector, no longer the inflation sector. they will be watching her signals on how they make their decisions. haslinda: policy farming it could be appropriate. that doesn't mean there could be a tightening through rate rises, it could be through qt. mark: they don't want to take anything off the table. for them they will consider pausing, but continuing with qt. anything else which comes to mind, they don't want to close any door right now. they're not exactly sure what's coming around the corner. because the number of banks, which suddenly needed help would've been a shock to them. there also regulator, not just the policy center. part of their job is to supervise the banking system. something caught them by surprise. they need more time to digest. they will be looking at a whole avenue of things. they will keep their mind open. yvonne: swaps are not listening to the fed. they are still pricing in cuts after the fomc decision. does that how
they will also be watching the messaging from janet yellen closely as well. she, for her, enemy number one is the banking sector, no longer the inflation sector. they will be watching her signals on how they make their decisions. haslinda: policy farming it could be appropriate. that doesn't mean there could be a tightening through rate rises, it could be through qt. mark: they don't want to take anything off the table. for them they will consider pausing, but continuing with qt. anything else...
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Mar 17, 2023
03/23
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so we have heard from janet yellen, the treasury secretary saying that if things about the us banking system, that it is secure, and we also now have the confidence reflected in the decision of these 11 banks to come so much money into one single medium sized bank. all lies now will be on the markets to see how they respond, and of course all eyes on individual investors, the individuals who have money in this bank to see how they respond. we can now speak to wall street insider danielle dimartino booth who's ceo and chief strategist at quill intelligence and former advisor to the dallas federal reserve. danielle, thank you for taking the time to come in the programme. now, we have seen big us banks step into first —— helps at first reserve, but we didn't see the same support last week when silicon valley bank collapsed and signature bank collapsed and signature bank collapsed. what you think is different time around? i think right now it is paramount for us regulators and wired the treasury secretary janet yellen has prompted these banks to infuse first republic with $30 billion
so we have heard from janet yellen, the treasury secretary saying that if things about the us banking system, that it is secure, and we also now have the confidence reflected in the decision of these 11 banks to come so much money into one single medium sized bank. all lies now will be on the markets to see how they respond, and of course all eyes on individual investors, the individuals who have money in this bank to see how they respond. we can now speak to wall street insider danielle...
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Mar 24, 2023
03/23
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yellen. what he makes of the flip-flop over bank bailouts. stay with us. (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you. you want a loan to build a factory in america? you can't do that. this is what we were up against. nobody builds factories in the us anymore. you can't do that. experts claimed you couldn't do what we did. you want to hire workers here in the states? you can't do that. weathertech has been proving them wrong, for over 33 years. building our own factories, employing thousands, and making world-class products, right here in america. because when you buy something made in america...we all win. weathertech. mom. can we get a puppy, mom? please? girls, pets are a big expense. aww. [ audience cheers ] maybe try switching your car insurance to progr
yellen. what he makes of the flip-flop over bank bailouts. stay with us. (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you. you want a loan to build a factory in america? you can't do that. this is what we were up against. nobody builds factories in the us anymore....
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Mar 17, 2023
03/23
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janet yellen offered more assurance u.s. banks are safe and sound and we doubt the treasury secretary believes it, no one else does. the economy and banking system are a okay when they are not, the more markets get nervous. >> todd: that is concerning from the editorial board. alexandria hoff joins us live. >> alexandria: u.s. regulators are applauding the deal saying the lifeline given to first republic bank demonstrates the resilience of the american banking system. all of this to pull first republic bank from the spiral met by silicon valley, signature and silver gate. join statement reads action of the largest banks reflect confidence in the banking system, we are deploying strength and liquidity to the largest system where it is needed most. the banks are supporting the economy and those around us. secretary yellen was among the architects of the deal. her testimony game days after emergency action to contain collapse of silicon valley bank. listen. >> i can reassure the members of the committee that our banking system
janet yellen offered more assurance u.s. banks are safe and sound and we doubt the treasury secretary believes it, no one else does. the economy and banking system are a okay when they are not, the more markets get nervous. >> todd: that is concerning from the editorial board. alexandria hoff joins us live. >> alexandria: u.s. regulators are applauding the deal saying the lifeline given to first republic bank demonstrates the resilience of the american banking system. all of this to...
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0.0
Mar 21, 2023
03/23
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treasury secretary janet yellen has been speaking in d.c. to the american bankers association and talked about the economy and health of the banking system. she says we don't have all the information we need about svb and his signature. it is too early to talk about regulatory changes. it is being talked about. is that because it will be hard to make those regulatory changes? carhart will it be to guarantee all those deposits? kailey: there is a massive legal question, because changing fdic limits is with the authority of congress and there is a massive question if there would be enough bipartisan support. given that we have had lawmakers on both sides of the aisle expressing support for the idea of changing with the insurance limit is, you also had significant pushback, including from the house of freedom caucus that put out a statement saying that is encouraging that behavior if you were to inquire directly insure all deposits in the u.s., a very different -- difficult political question whether this can be done. we understand the treasury
treasury secretary janet yellen has been speaking in d.c. to the american bankers association and talked about the economy and health of the banking system. she says we don't have all the information we need about svb and his signature. it is too early to talk about regulatory changes. it is being talked about. is that because it will be hard to make those regulatory changes? carhart will it be to guarantee all those deposits? kailey: there is a massive legal question, because changing fdic...
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0.0
Mar 10, 2023
03/23
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. >> friday, treasury secretary janet yellen set testifies on the residence 2024 budget request. -- on the president 2024 budget request. >> senate majority leader other democratic leaders spoke about president biden's newly released budget request that totals 6.8 trillion dollars. the proposal includes a tax, increase in spilling -- and spending for the military. >> i get so used to them, i reach in my pocket when they are on. first, my colleagues join me in wishing leader mcconnell a speedy recovery. we hope he returns to the senate very soon. ok, and thank you for coming out today for -- as you are heading out for the for the weekend. it's a good day to be here in washington and particularly here when president biden lays out our vision for the country. his budget would impact every family from coast-to-coast. every american family is affected, and positive ways that people really want and have asked for. so this is just a great budget. it fits the needs of american families to achieve and gives them the hope and confidence that america is moving in the right direction and paying at
. >> friday, treasury secretary janet yellen set testifies on the residence 2024 budget request. -- on the president 2024 budget request. >> senate majority leader other democratic leaders spoke about president biden's newly released budget request that totals 6.8 trillion dollars. the proposal includes a tax, increase in spilling -- and spending for the military. >> i get so used to them, i reach in my pocket when they are on. first, my colleagues join me in wishing leader...
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Mar 13, 2023
03/23
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they believed in janet yellen. we knew the rates wouldn't going to stay the same because of the trillions that have been spent. it was that belief in what is called modern monetary theory that you can print, print, print. the regulators were not watching this bank because they believed in all of that, too. they too believe that there was nothing wrong in investing with that wrong strategy in their heads. >> martha: this is the problem behind group think. when you have this policy, susan, where you're printing trillions -- people might say wait, what does it have to do with any of that? it has to do with this bank. when you have this monetary policy that leads to inflation and let them to have the best that they had made to secure their investments and deposits, it puts them in a tough position interest rate -wise. j.p. morgan had a negative buy rate. they said that they were concerned about svb. then you have the ceo pulling out 3.5 million, selling his shares in the companily before this happened. so people did kn
they believed in janet yellen. we knew the rates wouldn't going to stay the same because of the trillions that have been spent. it was that belief in what is called modern monetary theory that you can print, print, print. the regulators were not watching this bank because they believed in all of that, too. they too believe that there was nothing wrong in investing with that wrong strategy in their heads. >> martha: this is the problem behind group think. when you have this policy, susan,...
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Mar 16, 2023
03/23
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. >>> right now on "andrea mitchell reports," treasury secretary janet yellen on capitol hill trying to reassure americans their money is safe amid market jitters about cracks in the global banking sector credit suisse getting a $50 billion life line today from the swiss central bank new concerns about the large number of uninsured deposits at first republic, another california regional bank >> i can reassure the members of the committee that our banking system is sound and that americans can feel confident that their deposits will be there when they need them. >>> also this hour, the pentagon's stunning video of the russian jet flying directly toward the u.s. drone and what appears to be dumping fuel on the unmanned drone flying over the black sea near crimea. >> we know that the aggressive behavior was intentional we know it was very unprofessional and very unsafe >>> time is up the white house demanding tiktok's chinese owners sell their stake in the platform or possibly be banned from the u.s. senator intelligence committee member angus king joining us today. >>> good day, everyo
. >>> right now on "andrea mitchell reports," treasury secretary janet yellen on capitol hill trying to reassure americans their money is safe amid market jitters about cracks in the global banking sector credit suisse getting a $50 billion life line today from the swiss central bank new concerns about the large number of uninsured deposits at first republic, another california regional bank >> i can reassure the members of the committee that our banking system is sound...
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Mar 27, 2023
03/23
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he spoke about when janet yellen was in front of his committee two weeks ago and her take on the country's debt. watch this. >> admiral mike muleen in the 2010, 2011 timeframe said the greatest threat to the national security was the debt and deficit. it exceeds $32 trillion. the treasury secretary was talking about president biden driving the debt up to the $50 trillion over the 10 year budget window. she wouldn't admit mass i've deficit spending was a major contributor. maria: don't forget, we're on the doorstep of another potential major crisis with the debt ceiling being raised. there's going to be a fight between republicans and democrats in terms of cutting back spending. is that something that could be a market catalyst to the downside as well, as well as these congressional hearings this week on the bank collapse. anything there that you are expecting in terms of recommendations for more rules? >> well, at the very core there's a hierarchy of blame in terms of what happened couple of weeks ago. but at the very core of this is that the -- at the bottom, there was no supervision. eve
he spoke about when janet yellen was in front of his committee two weeks ago and her take on the country's debt. watch this. >> admiral mike muleen in the 2010, 2011 timeframe said the greatest threat to the national security was the debt and deficit. it exceeds $32 trillion. the treasury secretary was talking about president biden driving the debt up to the $50 trillion over the 10 year budget window. she wouldn't admit mass i've deficit spending was a major contributor. maria: don't...
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Mar 16, 2023
03/23
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janet yellen will be on hill in an hour testifying. it's supposed to be the budget but you know there's going to be questions about the banking system. >> we'll see you tomorrow? >> yes. >> see you tomorrow. >>> cnbc "newsn "newsroom" star after this. it's not too late for another treatment option. to learn more visit treatted.com. that's treatt-e-d.com. only at vangua, you're more than just an invesr—you're an owner. weot this, babe. that means that your dreams . d our financial planning tools can help you reach them. that's the value of ownership. every day, millions of things need to get to where they're going. and at chevron, we're working to help reduce the carbon intensity of the fuels that keep things moving. today, we're producing renewable diesel that can be used in existing diesel tanks. and we're committed to increasing our renewable fuels production. because as we work toward a lower carbon future, it's only human to keep moving forward. introducing the new sleep number climate360 smart bed. the only smart bed in the worl
janet yellen will be on hill in an hour testifying. it's supposed to be the budget but you know there's going to be questions about the banking system. >> we'll see you tomorrow? >> yes. >> see you tomorrow. >>> cnbc "newsn "newsroom" star after this. it's not too late for another treatment option. to learn more visit treatted.com. that's treatt-e-d.com. only at vangua, you're more than just an invesr—you're an owner. weot this, babe. that means that...
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Mar 23, 2023
03/23
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clearly, we just brought you the headlines from janet yellen. but citi group ceo jane frazier told the economic club of washington, d.c. odd the that regional banks are, quote, well capitalized, and fitch rating agency odd the said large french banks are resilient to current market stress. they have e liquidity that is sound, buffers are strong, and they are well positioned to absorb short-term negative impacts of higher interest rates. for now the broader market doesn't seem to be too concerned at the moment. sure, the dow is down 71 right now, but let's see what our floor show team says. joining me now, our trader, teddy weisberg and bnp paris baa' chief economist. teddy doty, what happened? 40 minutes ago we were roaring ahead in the stock market, and hose the regions -- hose the regionals started to the fall again. >> well, that's right because there's still so much uncertainty out there. it's a very, very difficult environment for investors. the message is so mixeded, and behind the curtain with the financial issues with some of these regio
clearly, we just brought you the headlines from janet yellen. but citi group ceo jane frazier told the economic club of washington, d.c. odd the that regional banks are, quote, well capitalized, and fitch rating agency odd the said large french banks are resilient to current market stress. they have e liquidity that is sound, buffers are strong, and they are well positioned to absorb short-term negative impacts of higher interest rates. for now the broader market doesn't seem to be too...
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Mar 18, 2023
03/23
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>> well, janet yellen has to say that because the main problem here is you're having bank runs. people are very worried about their deposits, and she needs to try to calm the environment. paul: but if they don't believe you, aren't you contributing to more lack of confidence? >> i don't know. i think the markets are worried because they know a little bit about what the balance sheets of these banks look like, and what they know is that the silicon valley bank and some of the others are not unique, that the regulators have allowed certain kinds of risk to be on the balance sheet of banks even though they said they wouldn't after dodd-frank, and banks took more risk because interest rates were kept very low for very long. they were looking for yield, and the only way you get yield in that environment to the take more risk. so that's what they did, and that's what is confronting depositors in this moment. paul: kid the they make the right decision, dan, to guarantee returns for insured depositors at these two banks? with something of an implication that it could be the same for oth
>> well, janet yellen has to say that because the main problem here is you're having bank runs. people are very worried about their deposits, and she needs to try to calm the environment. paul: but if they don't believe you, aren't you contributing to more lack of confidence? >> i don't know. i think the markets are worried because they know a little bit about what the balance sheets of these banks look like, and what they know is that the silicon valley bank and some of the others...
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Mar 17, 2023
03/23
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runs, treasury secretary janet yellen speaking on the state of the u.s. financial banking system yesterday. heres' a bit of what she said, watch. >> i can reassure the members of our committee the banking system is sound. americans can feel confident their he deposits will be there when they need them. this week's actions demonstrate our resolute commitment to ensure our financial system remains strong and that deposit depositor's savings remain safe. no taxpayer money is being used or put at risk with this action. maria: steven, with that the wall street journal writes in the editorial board section, while yellen assures banks run, janet yellen offers more assurances thursday that u.s. banks are safe and sound and we doubt even the treasury secretary believes it, certainly no one else does, writes the journal. the biggest american bank has to commit 30 billion on thursday to rescue first republic bank 15 years to the day that bear sterns collapsed. happy a anniversary the journal writes, your reaction. >> you have to distinguish this crisis from '08, '09
runs, treasury secretary janet yellen speaking on the state of the u.s. financial banking system yesterday. heres' a bit of what she said, watch. >> i can reassure the members of our committee the banking system is sound. americans can feel confident their he deposits will be there when they need them. this week's actions demonstrate our resolute commitment to ensure our financial system remains strong and that deposit depositor's savings remain safe. no taxpayer money is being used or...
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Mar 16, 2023
03/23
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to hear janet yellen say today everything is a-okay i don't think so. go look at chart of kre, the regional bank index. no, not everything is okay. i do wonder if they're going to have to save somebody else as we move forward. liz: the kre is up 3.6% but the high of the year had been 73 bucks. we're at 46 right now. >> yep. liz: as they say john, bailouts only encourage the very behavior that makes bailouts necessary but let's talk about the opportunity, not just for the big banks but for the smaller investors right now. where are you investing? >> i think you have to be a portion of your portfolio needs to be in polled,. liz: really? >> gold does well when interest rate go down, times of crisis, gold will act as a safe haven. we have both of the situations potentially right now. interest rates are coming in. the worst situation for gold that interest rates rise. the drama will build until the march 22nd fomc meeting, do they decide to raise rates to cut inflation, or provide liquidity in the system to prevent further stress? the finance hal system. liz
to hear janet yellen say today everything is a-okay i don't think so. go look at chart of kre, the regional bank index. no, not everything is okay. i do wonder if they're going to have to save somebody else as we move forward. liz: the kre is up 3.6% but the high of the year had been 73 bucks. we're at 46 right now. >> yep. liz: as they say john, bailouts only encourage the very behavior that makes bailouts necessary but let's talk about the opportunity, not just for the big banks but for...
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Mar 13, 2023
03/23
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BBCNEWS
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here's the us treasury secretary, janet yellen. whenever a bank, especially one like silicon valley bank with billions of dollars in deposits, fails, it's clearly a concern from the standpoint of depositors, many of which may be small businesses. they rely on access to their funds to be able to pay the bills that they have, and they employ tens of thousands of people across the country. we've been hearing from those depositors and other concerned people this weekend. so let me say that i've been working all weekend with our banking regulators to design appropriate policies to address this situation. i can't really provide further details at this time, but what i do want to do is emphasise that the american banking system is really safe and well capitalised. it's resilient. that was janet yellen speaking earlier. with me is our business reporterjoao da silva. great to get you on the programme. have you seen much of an impact on financial markets, particularly in asia? the markets are so far rather muted. the japanese nikkei is down
here's the us treasury secretary, janet yellen. whenever a bank, especially one like silicon valley bank with billions of dollars in deposits, fails, it's clearly a concern from the standpoint of depositors, many of which may be small businesses. they rely on access to their funds to be able to pay the bills that they have, and they employ tens of thousands of people across the country. we've been hearing from those depositors and other concerned people this weekend. so let me say that i've...
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Mar 18, 2023
03/23
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you asked about the janet yellen clip and i think that is telling. there is this tension, and i don't think this is the one everyone in washington and financial regulation circles are debating, the law does not say everyone gets their deposits back automatically. when you heard that question from janet yellen and senator lankford, does a small community bank at the same treatment silicon valley bank depositors got? she answered the question in a technical manner which is basically the law says x about this and anything further, there is a determination, is this systemically important? it is not something someone wants to hear right now. there is this assumption all depositors are insured even if we say itnly goes up to $250,000. if we are going to implicitly accept that no one will lose their money, we might want to think about changing the laws to codify that and say they are all insured. if they are all insured, change other laws that have to do with the nature of banking. we are existing in this limbo space where everyone probably believes implici
you asked about the janet yellen clip and i think that is telling. there is this tension, and i don't think this is the one everyone in washington and financial regulation circles are debating, the law does not say everyone gets their deposits back automatically. when you heard that question from janet yellen and senator lankford, does a small community bank at the same treatment silicon valley bank depositors got? she answered the question in a technical manner which is basically the law says...
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Mar 17, 2023
03/23
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treasury secretary, janet yellen mentioned this to jp morgan ceo jamie dimon on all on tuesday. he got off the call and rally to 10 other banks. there has been 11 banks that have chimed in on this. really it is an effort to prevent wider panic that would be detrimental to all things interest. it reflects the bifurcation in the u.s. banking system right now with the larger banks seeing huge inflows of deposits from depositors that are fearful that smaller lenders, the money might not be safe with them. it is a way of restoring, without using public need. some of those deposits can be transferred back to the regional lenders. so far, it seems to have worked with bancshares rebounding overnight. first republic climbed about 2%. it is unclear to see if this will work. it might by the bank sometime. it hasn't come without criticism. you mentioned earlier in the show, that the move provides a false sense of confidence and raises more questions and answers. we will just have to see whether this works overtime. tom: indeed, the critic therefrom bill ackman. it potentially bodes well a p
treasury secretary, janet yellen mentioned this to jp morgan ceo jamie dimon on all on tuesday. he got off the call and rally to 10 other banks. there has been 11 banks that have chimed in on this. really it is an effort to prevent wider panic that would be detrimental to all things interest. it reflects the bifurcation in the u.s. banking system right now with the larger banks seeing huge inflows of deposits from depositors that are fearful that smaller lenders, the money might not be safe...
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according to the us treasury secretary, janet yellen. i'm the chair of the federal deposit insurance corporation. the 2 bank failures this weekend are the 2nd and 3rd worst in us history. well, earlier i asked financial correspondent, jans carter in new york for his insight following use that u. s. regulators have taken over operations at a 2nd bank. oh well, as the saying goes, so bank di over and i hit had that seems to be true at this point. so a, please don't panic, a, keep your calm, but this is the 3rd a bank pretty much going up with less than a within a week or early last week we had a crew or bank tied to the crypto industry as silva gate to liquidating itself. then we had the silicon valley bank, now the signature of bank that needs a governmental help and to controlled so clearly trust at this point obviously has been lost to some financial institutions and at least it was those companies named a we've seen the classical run on the bank? yes. usa khatri at the treasury sector, jaelyn has ruled out a bailiff paid for by tax pay
according to the us treasury secretary, janet yellen. i'm the chair of the federal deposit insurance corporation. the 2 bank failures this weekend are the 2nd and 3rd worst in us history. well, earlier i asked financial correspondent, jans carter in new york for his insight following use that u. s. regulators have taken over operations at a 2nd bank. oh well, as the saying goes, so bank di over and i hit had that seems to be true at this point. so a, please don't panic, a, keep your calm, but...
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meantime, the us treasury secretary, janet yellen has insisted the situation is under control. the situation is stabilizing, and the u. s. banking system remains sound. our financial system is also significantly stronger than it was 15 years ago. i believe the directions reduce the risk of further bank failures that would have imposed losses on the deposit insurance fund, which is paid for through fees on banks. why would i say this further now here went into national with arctic contributor chris ems joining us here if a good afternoon to you, chris are going to give you a broad question here. broader perspective, but you know your analysis because you're an insider, an expert and it's part of the world when it comes to what is potentially a very wiring economic downturn with certain western professional partners. what is the state chris of the us economy right now? i don't think it looks good. the tool, i mean we've got something which is now being down played right. the silicon valley bank crash has been labeled by many economists as the 2nd largest banking crush in history.
meantime, the us treasury secretary, janet yellen has insisted the situation is under control. the situation is stabilizing, and the u. s. banking system remains sound. our financial system is also significantly stronger than it was 15 years ago. i believe the directions reduce the risk of further bank failures that would have imposed losses on the deposit insurance fund, which is paid for through fees on banks. why would i say this further now here went into national with arctic contributor...
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Mar 17, 2023
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janet yellen said nope. why should we be paying for millionaires and billionaires in silicon valley? no hadar how hard janet yellen sells it, it doesn't work. take a look. >> we worked with the federal reserve and fdic to protect all depositors of the two failed banks. on monday morning, customers were able to access all of the money in their deposit accounts so they could make payroll and pay the bills. shareholders and debt holders are not being protected by the government. importantly no taxpayer money is being used or put at risk with this action. >> sean: all right. it only gets worse from there. you are bailing out very wealthy americans. it's going to be your tax dollars or fees that you pay to banks as they raise these fees. also, chinese nationals that deposited money in svb, guess who predicted this? turns out if you go to 2016, then candidate trump, this is what he said in a debate with hillary clinton. >> we have the worst revival of an economy since the great depression. believe me, we're in a b
janet yellen said nope. why should we be paying for millionaires and billionaires in silicon valley? no hadar how hard janet yellen sells it, it doesn't work. take a look. >> we worked with the federal reserve and fdic to protect all depositors of the two failed banks. on monday morning, customers were able to access all of the money in their deposit accounts so they could make payroll and pay the bills. shareholders and debt holders are not being protected by the government. importantly...
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Mar 27, 2023
03/23
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yellen testifying this week markets this morning are rallying on this -- rescue. of all assets dow industrials up 218 points highs of the morning right now hour and a half before opening bell nasdaq up 51 s&p higher by 26 this on top of against last week as well take a look at market last week major afternoons chalked up gains nasdaq up 1 2/3% dow industrials up 1.1% s&p 500 higher by 1 1/3% european markets with firmer tone eurozone ft 100 in london up 63 cac quarante up 71, dax higher by 181. in asia overnight, will most red across the board, with the exception of japan. nikkei average up a third of one percent weak spot hong kong down 1 3/4 on a hang seng, in washington house of representatives moving forward with tiktok legislation after last week's hearing on capitol hill, more deals coming up, then in new york, the trump grand jury to reconvene today after multiple calculations last week details, this morning with congressman greb steube former federal prosecutor fox news contributor andrew mccarthy right now to break it town michael lee, pollster the presid
yellen testifying this week markets this morning are rallying on this -- rescue. of all assets dow industrials up 218 points highs of the morning right now hour and a half before opening bell nasdaq up 51 s&p higher by 26 this on top of against last week as well take a look at market last week major afternoons chalked up gains nasdaq up 1 2/3% dow industrials up 1.1% s&p 500 higher by 1 1/3% european markets with firmer tone eurozone ft 100 in london up 63 cac quarante up 71, dax higher...
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Mar 16, 2023
03/23
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. >> earlier today, treasury secretary janet yellen reassured lawmakers that the u.s. banking system remains sound following the recent collapse of two banks. she made the comment while testifying before the senate finance committee about the u.s. economic outlook and president biden's 2020 for budget request. you can watch the entire hearing tonight at 8:00 eastern on c-span and also our free mobile video app, c-span now, or online at c-span.org. fridays at 8:00 p.m. etern, c-span brings you "after words," a program where authors are interviewed by journalts gislators, and more on fire latest books. this week, journalist kathleen mclachlan looks at how and w selling blood plasma has turned into a $20 million business in her book "blood money." watch every friday at 8:00 p.m. eastern on c-span. >> up next, pentagon press secretary patrick ryder takes reporters' questions on tuesday's russian jet collision with a u.s. drone over the bck sea. the briefing is about half an hour. >> goodfternoon, everybody. just a f things to pass along here, and then we will get right to
. >> earlier today, treasury secretary janet yellen reassured lawmakers that the u.s. banking system remains sound following the recent collapse of two banks. she made the comment while testifying before the senate finance committee about the u.s. economic outlook and president biden's 2020 for budget request. you can watch the entire hearing tonight at 8:00 eastern on c-span and also our free mobile video app, c-span now, or online at c-span.org. fridays at 8:00 p.m. etern, c-span brings...
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Mar 25, 2023
03/23
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yellen is modeling the rules we don't know what the rules are she going to assure about 250,000 are not and how many other banks are there that could fail, what is your take on the number of banks that could be problematic? >> i think the hazard and you kneeled on the head. when you have a bank with idiot management and i don't mean to be rude i'm just saying you look at silicon valley bank and a combination of idiot management aboard this unqualified to oversee our negligence or both in the san francisco fed just missed it. is it my fault, directed pay for that as a taxpayer, credit suisse you referenced has been a zombie bank for 14 years. the average penalty for the management team over the last decade is half a billion a year. if that isn't idiot management you had us if you put your money into that place finally credit suisse had to clean it up on their own but everybody knows that story, deutsche bank same issue. as a taxpayer the question is why do i have to bailout idiots over and over again, let them fail and let the market clean it up, it's okay if they go to 0. maria: tha
yellen is modeling the rules we don't know what the rules are she going to assure about 250,000 are not and how many other banks are there that could fail, what is your take on the number of banks that could be problematic? >> i think the hazard and you kneeled on the head. when you have a bank with idiot management and i don't mean to be rude i'm just saying you look at silicon valley bank and a combination of idiot management aboard this unqualified to oversee our negligence or both in...
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Mar 31, 2023
03/23
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yellen blaming trump for the recent bank collapses, janet yellen claiming the trump administration decimated financial oversight why biden is calling for reversal of the rollback of regulation over midsize bank, your on the house financial services committee. does this make sense to you because the flipside of the coin that they're not mentioning is the fact that they spent over $6 trillion in the course of two years that sent interest rates skyrocketing. >> first of all your lying again we had congressional testimony from vice chair at the federal reserve who is the head of a supervisory. even his own testimony said the bill under president trump did not take any authority away from the federal reserve and the san francisco federal reserve bank to oversee silicon valley bank or any other bank under their supervision so the white house and the treasury secretary are lying to the american people yet again, let's be very clear we have an issue with supervisory in my opinion over the banking system. at the end of the day the failure of silicon valley bank was on the banks management they did no
yellen blaming trump for the recent bank collapses, janet yellen claiming the trump administration decimated financial oversight why biden is calling for reversal of the rollback of regulation over midsize bank, your on the house financial services committee. does this make sense to you because the flipside of the coin that they're not mentioning is the fact that they spent over $6 trillion in the course of two years that sent interest rates skyrocketing. >> first of all your lying again...
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Mar 16, 2023
03/23
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is it too late for janet yellen to calm fears and unwind a crisis that she is partially for and the bidenomic policies are partially responsible for? >> yes. that's a great point. janet she needs to speak on how this can be corrected in the future. we need to be able to calm people's fears i pray she can do that but, you are right. she is part of the failures that we have seen across the board. >> todd: meantime, senator, breaking right now, we are getting our first look at new video showing the moment a russian jet dumps fuel and collides with a u.s. drone over the black sea. you can see it right there. you can see the fuel trail being dumped by the russian jet. you can see it impacting our drone. propellers starting to slow there on the drone and pretty in short order i'm being told we will go color bars showing the drone itself has been incapacitated. we are watching this all together for the first time. what's your reaction when you see that? >> right, correct. this was over international airspace. and so the russians have gotten very aggressive. and, you know what? we need to really take
is it too late for janet yellen to calm fears and unwind a crisis that she is partially for and the bidenomic policies are partially responsible for? >> yes. that's a great point. janet she needs to speak on how this can be corrected in the future. we need to be able to calm people's fears i pray she can do that but, you are right. she is part of the failures that we have seen across the board. >> todd: meantime, senator, breaking right now, we are getting our first look at new...
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Mar 16, 2023
03/23
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questions: so peter, what's prompted janet yellen to strike such a reassuring tone there?why are other lenders coming to strike such a reassuring tone there? she is being positive because she wants to shore up the banking system to bring confidence back to investors. we saw last week the collapse of silicon valley bankjust a few days later, we saw the collapse of new york signature and a think it's printing realfears collapse of new york signature and a think it's printing real fears about first republic and small regional bank and that is because ofjitters amongst investors and people taking their money out of small banks because of their concerns about the future of those banks and public in particular. they have real concerns about the businesses and real concerns about reaching and managing payroll and it happens every two weeks in the united states being able to pay their workers. a lot of people taking money out of small banks with a train to do in these 11 banks with a train to do in these 11 banks in particular, these big banks, j.p. morgan and citigroup are doing
questions: so peter, what's prompted janet yellen to strike such a reassuring tone there?why are other lenders coming to strike such a reassuring tone there? she is being positive because she wants to shore up the banking system to bring confidence back to investors. we saw last week the collapse of silicon valley bankjust a few days later, we saw the collapse of new york signature and a think it's printing realfears collapse of new york signature and a think it's printing real fears about...
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Mar 17, 2023
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questions: so peter, what's prompted janet yellen to strike such a reassuring tone there? it has, for about a week now since the collapse of silicon valley bank due to liquidity issues last week following a few days later by the collapse of the new york bank signature. it's because a lot of people to worry about their deposits and medium—sized banks especially, first republic concluded. people really getting the jitters about the security of their investments in their ability to use that money to pay their bills and pay their workers and to meet the payroll here in the states every couple weeks and it prompted some to take the action of taking their money out of those banks and putting it into larger banks thatis putting it into larger banks that is exactly what those medium—sized banks in the banking industry generally does not want to see. that is why we are hearing the words of janet reassurance and confidence she was talking about and wanting to instill confidence in people that the us banking system is an unhealthy state and that is also why we see these major ii
questions: so peter, what's prompted janet yellen to strike such a reassuring tone there? it has, for about a week now since the collapse of silicon valley bank due to liquidity issues last week following a few days later by the collapse of the new york bank signature. it's because a lot of people to worry about their deposits and medium—sized banks especially, first republic concluded. people really getting the jitters about the security of their investments in their ability to use that...