Treasury secretary janet young told center as the Treasury Department will likely exhaust all of its tools to avoid a default of the governments obligations if congress does not raise the debt limit by october 18. Her announcement came as a banking committing oversight city the covid19 Economic Loss she joined at the hearing by chairman Jerome Powell this runs two and half hours. Will come to order. This hearing is in a hybrid format or witnesses are in person members have the option to appear either in person or virtually. For those joining remotely if your minors once you start speaking there will be a slight edge late before you are displayed on the screen. To minimize background noise please click the mute button until its your turn to speak or ask questions. You shall all have one box on your screen labeled clock will show you how much time is remaining. You will hear a bell ring and 3d and the time is expired will move onto the next senator. Speaking orders as usual thats by seni
Will come to order. This hearing is in a hybrid format or witnesses are in person members have the option to appear either in person or virtually. For those joining remotely if your minors once you start speaking there will be a slight edge late before you are displayed on the screen. To minimize background noise please click the mute button until its your turn to speak or ask questions. You shall all have one box on your screen labeled clock will show you how much time is remaining. You will hear a bell ring and 3d and the time is expired will move onto the next senator. Speaking orders as usual thats by seniority of the members of checked and before the gavel came down at 10 00 a. M. Either virtually and senior members arriving later alternating in this committee between democrats and republicans. Welcome to our witnesses. We all are member the dark days of 2008, the painful years that followed. Secretary yellen and chair powell you helped us feel the aftermath and your roles at the
I can give you superlatives after superlative whether it comes to the curve or the absolute level. Real rates are higher, and nominal rates higher as well. Guy the answer to your question is no, i dont believe you. I dont believe this is a reflation trade. I believe this is an inflation trade because i think the data from the economy are starting to point in the opposite direction. If it was a reflation trade, i think the data would be telling us a different picture. The Richmond Fed Manufacturing index, last read, nine. Expeditions, 10. What is it, . Three what does it come in at . Three. Lets talk about what is happening with the consumer. Consumer confidence survey. We get 109. 3. Present situation, 100 43. 4. Prior number revised higher, but nevertheless, we are seeing a dip. Expectations, 91. 4, down 86. The consumer is starting to feel jittery. The Manufacturing Sector is starting to see a slow. So no reflation. Inflation, possibly stagflation. Alix i was going to say, you are ta
Will come to order. This hearing is in a hybrid format or witnesses are in person members have the option to appear either in person or virtually. For those joining remotely if your minors once you start speaking there will be a slight edge late before you are displayed on the screen. To minimize background noise please click the mute button until its your turn to speak or ask questions. You shall all have one box on your screen labeled clock will show you how much time is remaining. You will hear a bell ring and 3d and the time is expired will move onto the next senator. Speaking orders as usual thats by seniority of the members of checked and before the gavel came down at 10 00 a. M. Either virtually and senior members arriving later alternating in this committee between democrats and republicans. Welcome to our witnesses. We all are member the dark days of 2008, the painful years that followed. Secretary yellen and chair powell you helped us feel the aftermath and your roles at the