September, and if you havent paid attention tesla shares are down 10 this week alone only two trading days. If they had gotten ai from oh. Well talk about that, a war of words, openai is firing back at elon musk. Theres 1 chance well talk about it. Publishing emails appear no show the tesla cofounder did support creating a for profit entity. Lets begin with the markets and the testimony from the fed chair today. Jim, got some news on what he will say in terms of written words. Yeah. Look, i kind of when march is off the table, i think this is, obviously, one of those, i want to get a little more expansive and getting tired of the game of what month instead, what i see is a man who said listen, were not going to have a hard landing or soft landing. Were fine if it gets weaker well cut. Its kind of a Great Central bank essay about what you need to do in order to be able to get out of an inflationary period. David, i think hes becoming more of a, lets just say a true statesman how far to
Markets. Expecting nikki haley in south carolina, Jerome Powell in washington, d. C. We have the s p 500 up about one half of 1 . And the nasdaq 100 also seeing similar gains of stocks. The Philadelphia Semiconductor index on track to erase the losses from yesterday and we have the twoyear yield just dropping down to 453 on the day. Now, were going to bring you the jolt state joined by Michael Mckee to join with us the details. Michael looks like shanoly, it is unchanged. The revised number was 8889. Not a drop there but it was a significant from over 9 million. No change there. Sonali as we wait for Jerome Powell to start his. , what is his expectation out of not just what he will say on the onset what types of questions he may get . Michael hes already given up his text. Its very short and he repeats the idea that theyre high rate and they will cut rates. They hope some time this year. But they have to make sure that inflation is still on its way down. So nothing new in that. The que
We will come to order. The tears authorized to had to recess at any time. This is the Federal Reserves that are annual monetary report. Without objection, all members have five days in to submit extraneous materials for inclusion in the record. I will note at the outset, we have a hard stop at 1 00 p. M. I see chairman powell smile. Thats three hours. I will know regnize myself for the opening statement. In june of 2023, the conversation in washingtons coation shifted significantly. Not because of the lectionary fire has been extinguished. From the most recent data available, food cost is up 21 as President Biden took office. Energy costs are up more shelter costs are of more than 19 and you will pay 37 more for a dozen eggs in today. As we said in january, people are still paying more for the basics of life and the prices they are paying are still high. And they arent happy about it, as you know, it is our colleagues know. But according to the Biden Administration, they should be thri
We will come to order. The tears authorized to had to recess at any time. This is the Federal Reserves that are monetary report. Without objection, all members have five days in ich to submit extraneous materials for inclusion in the record. I will note at the outset, we ve a hardobserved. I see chairman powell smile. Thats three hours. I will know recognize myself for the opening statement. In june of 2023, the conversation in washingtons concerning inflation shifted significantly. Not because of the lectionary fire has been extinguished. From the most recent data available, food cost is up 21 as President Biden took office. Energy costs are up more than 32 . Shelter costs are of more than 19 and you will pay 37 more for a dozen eggs in america today. As we said in january, people are still paying more for the basics of life and the prices they are paying are still high. And they arent happy about it, as you know, it is our colleagues know. But according to the Biden Administration, t
Order. Without objection, share off the rise to the clearer recess at anytime. This hearing is entirely on youll test when it secretary the treasury of the state of the International Financial system. Without objection, all members of five minutes within which to submit extraneous into aerials to the chair for inclusion in the record. I will note of the outset of this hearing we have a hard stop as a crew to see the secretary at one pm this afternoon. We will strictly observe it. Now i recognize myself for four minutes to get an opening statement. Welcome, secretary yellen. I appreciate you being here today. Todays hearing is about the state of the International Financial institutions. I want to take a minute to talk about the debt ceiling crisis that we narrowly avoided. First, were all glad that they seized behind us and. No one wanted to default no legislative branch official no executive branch official your statement says waiting until the last minute hurts american credibility i