Yellen says China’s rapid buildout of its green energy industry ‘distorts global prices’
WASHINGTON (AP) – Treasury Secretary Janet Yellen criticized China’s expansion of production of solar energy, electric vehicles and lithium-ion batteries, saying that unfair competition “distorts global prices” and that “not just companies, but U.S. It also harms workers.” and workers around the world. ” Republican leaders push back against Janet Yellen over $110 billion energy […]
Yellen, Senate GOP spar over Biden tax plan
Treasury Secretary Janet Yellen on Thursday touted President Biden’s budget proposal, which includes higher taxes on wealthy Americans and an expansion of the child tax credit. During a Senate Finance Committee hearing on the president’s budget proposal, Yellen also said the Biden administration “continues to oppose misguided proposals that would widen the budget deficit by […]
Janet Yellen regrets saying inflation was transitory
Treasury Secretary Janet Yellen said she regretted saying inflation was temporary. “I regret saying it was temporary,” she said. Said. “Things are calming down,” she added, but she said she thinks temporary means just a few weeks or months for most people. In response to a clip of Yellen’s comments, Republican Sen. Bill Hagerty of […]
Yellen says she regrets saying inflation was ‘transitory’
Treasury Secretary Janet Yellen said she regrets describing 2021’s inflation as “temporary.” The term was used by several Federal Reserve and Biden administration officials to describe the pandemic-induced price increases, which they initially thought were temporary. “I’m sorry that I said it was temporary. It’s gone down. But I think for most people, temporary means […]
Janet Yellen warns inflation decline might not be ‘smooth’
Treasury Secretary Janet Yellen spoke about the current state of the economy in an exclusive interview with FOX Business. Exclusive: Treasury Secretary Janet Yellen said Wednesday that it could be extremely difficult for inflation to return to normal, after a series of reports showed price pressures in the U.S. economy had picked up at the […]
Kennedy tells Yellen that attempting to 'defend Bidenomics' is like seeking to offer defense of 'fungal infection'
Sen. John Kennedy, R-Louisiana, told the Treasury Department. Janet Yellen said she was “well placed” to try to “defend Bidennomics,” an effort she compared to trying to defend a “fungal infection.” Between hearingKennedy described Bidennomics as “paying more money to make life worse.” Unsurprisingly, Yellen objected to the senator’s explanation of Bidennomics, arguing instead that […]
Janet Yellen warns high prices could be here to stay
Matt Orton, chief market strategist at Raymond James Investment Management, looks ahead to the earnings report, the future of the AI sector, and the Fed’s interest rate trends. Inflation is falling faster than most economists expected, according to the Treasury secretary, but Americans who were expecting a broad decline in prices may be disappointed. Janet […]
Yellen: It’s ‘obvious’ that empty office buildings will create banking stress and losses – CNN
Robert Schmidt/AFP/Getty Images Treasury Secretary Janet Yellen testifies at the Capitol in Washington, DC on February 6, 2024. Story highlights Yellen said that while large banks’ exposure to commercial real estate is “pretty low,” some smaller banks may be facing stress. Yellen also added that she believed the problem was manageable. Yellen emphasized how inflation […]
Yellen, asked about Kudlow’s mea culpa, says economy ‘headed in the right direction’
Asked Tuesday about recent comments by President Trump’s former top economic adviser Larry Kudlow, Treasury Secretary Janet Yellen said she and other forecasters were wrong about the U.S. economy heading into a recession. Admitted. Rep. Emanuel Cleaver (D-Missouri) asked Yellen about Kudlow’s comments on Fox News earlier this month during a House Financial Services Committee […]
Yellen touts ‘historic recovery’ under Biden before House panel
Treasury Secretary Janet Yellen appeared before Congress on Tuesday to highlight the economy’s “historic recovery” under President Biden. “Over the past three years, the Biden administration has driven a historic recovery,” Yellen said in her opening remarks before the House Financial Services Committee as part of the Financial Stability Oversight Council’s annual report. “GDP growth […]