Janet Yellen

Janet Yellen says second-quarter GDP could decline by 30% and unemployment is already at 12%-13%

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Former Federal Reserve Chair Janet Yellen said the current unemployment rate could be 13% while economic growth is down 30% or more.

Yellen expressed some doubt as to whether the U.S. recovery will signal a quick recovery shaped like a “V.′

Yellen told CNBC the current situation is a “huge, unprecedented, devastating hit” though it is not in the same category as the Great Depression.

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https://www.cnbc.com/2020/04/06/jane...13percent.html

You knew this was coming, right?

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"Cryptocurrencies are a particular concern," Yellen responded. "I think many are used—at least in a transactions sense—mainly for illicit financing."

She said she wanted to "examine ways in which we can curtail their use and make sure that [money laundering] doesn't occur through those channels."

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https://www.wired.com/story/janet-ye...ryptocurrency/

Yellen says the government is operating like it’s 2010, calls for more aggressive spending

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KEY POINTS

Treasury Secretary Janet Yellen called on congressional leaders to get more aggressive in spending.

In inflation-adjusted terms, Yellen said the budget hasn’t really increased since 2010.

She noted that several areas of her department remain significantly underfunded.

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https://www.cnbc.com/2021/05/27/yell...-spending.html

BS?:suspicious:

Higher interest rates would be good for the country, Treasury Secretary Yellen says

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The former Federal Reserve chair said the president’s plans would total about $400 billion each year — a level of spending she argued was not enough to create an inflation over-run.

“If we ended up with a slightly higher interest rate environment it would actually be a plus for society’s point of view and the Fed’s point of view,” Yellen told Bloomberg.

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https://www.cnbc.com/2021/06/06/high...len-says-.html

Might help with the G fund too.


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U.S. faces a recession if Congress doesn’t address the debt limit within 2 weeks, Yellen says

https://www.cnbc.com/2021/10/05/debt...oesnt-act.html

​Yellen says the economy is not in a recession despite GDP slump

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Treasury Secretary Janet Yellen said Thursday the U.S. economy is in a state of transition, not recession.

“When you look at the economy, job creation is continuing, household finances remain strong, consumers are spending and businesses are growing,” she said during a news conference.

Those comments, though, came on the same day that the Commerce Department’s Bureau of Economic Analysis reported that gross domestic product, the broadest measure of economic activity, fell 0.9% in the second quarter.

Coming on the heels of a 1.6% contraction in the first quarter, the two straight declines meet a commonly used definition of recession. The National Bureau of Economic Research, however, is the official arbiter of recessions, and likely won’t rule for months.

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https://www.cnbc.com/2022/07/28/yell...gdp-slump.html

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U.S. will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress

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https://www.cnbc.com/2023/01/13/us-w...-congress.html

Will Janet Yellen Give Us a Santa Rally… or a Debt Crisis?

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Every quarter the Treasury announces its financing needs via its Quarterly Refunding Announcement (QRA). In the QRA, the Treasury announces:

1) How much debt it will need to issue total to fund the government for the coming quarter.

2) The amount of new debt the Treasury will need to issue as opposed to simply rolling over old debt.

3) The breakdown of the debt issuance: short-term T-bills versus longer-term Treasury Bonds.

These three items are the MOST IMPORTANT issues for the markets today.

If you think I’m exaggerating this, consider that the last time the Treasury made its QRA was July 31st 2023. That was THE day that stocks topped and bond yields began to skyrocket.

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https://www.zerohedge.com/news/2023-...or-debt-crisis