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Treasuries. your question. can janet continue? we think she can for a while. if the fed tapers, if the fed stops buying treasuries of quantative ease, and it becomes a thing of the past, she will have to convince investors that policy rate, that the fed funds will be held constant for a long time. we think she can do that. we think she is the logical successor to ben bernanke but ultimately, a central bank is not, does not have unlimited powers in terms of what they can do. well, bill, thank you very much. we really appreciate you taking the time. you heard bill gross say it there. he believes the government could pay that interest out regardless of what happens with the debt ceiling. still outfront. did poor timing of a raid in libya cost the capture? then? and then the story gets even stranger and more disturbing. if it is true, why didn t he ....
So if you have a default in terms of treasuries, then you have problems everywhere. and let me ask you the other big news that is highly relevant, the president formally choosing janet yellen to be his next fed chief. it has to go through congress. your point of view. can she do it? forget whether she wants to, can she? i think she can. there s a limit to what the fed can do in material of writing checks at the moment for the year themselves write a trillion worth of collection to buy treasuries and more gablgs. your question. can janet continue? we think she can for a while. if the fed tapers, if the fed stops buying treasuries of kwan tative ease go becomes a thing of the past, she will have to convince investors that policy ....