Treasury Secretary Janet Yellen talks housing, inflation, recession, federal deficit
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- เผยแพร่เมื่อ 23 มิ.ย. 2024
- The Biden administration announced a series of new efforts to boost housing affordability, including $100 million to help finance affordable housing through the Community Development Financial Institutions Fund and calling on Federal Home Loan Banks to do more to boost their support of housing programs. US Treasury Secretary Janey Yellen detailed the efforts in a speech in Minneapolis, Minnesota. In an exclusive interview with Yahoo Finance's Jennifer Schonberger, Yellen says the initiatives are not a "silver bullet" for housing affordability but that the administration wants to use "every tool that we have" to lower the cost of buying a home. Housing costs have been a big factor in propping up inflation. Yellen expects inflation to come down, saying, "As we get into next year, I believe that inflation will go back to the Fed's 2% target." One thing she pointed to was the lag in rental prices, noting that many declines would only be seen when renters renew their leases, meaning that it could take longer for rent decreases to appear in the inflation data. Yellen, a former Federal Reserve chair, declined to comment on when she thinks the Federal Reserve will cut interest rates. She did say, however, that the economy is strong and that though growth may be slowing, she doesn't "see the basis, really, for a recession in the outlook." On the deficit, Yellen thinks that a debt crisis in the United States can be avoided as long as there is deficit reduction. She does bring up the expiration of the Tax Cuts and Jobs Act of 2017, saying that President Biden wants to preserve the tax cuts for those making under $400,000 but that "he would raise funds in order to find ways to cover that so that it doesn't just bust the deficit." Yellen demurred on commenting on the policies of a potential Trump administration, but did say the Tax Cuts and Jobs Act promised investments she claims never came and that "it gave huge tax breaks to corporations and to wealthy individuals, and it resulted in an enormous increase in the deficit and lowered tax revenues below historic norms."
#youtube #economy #inflation
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This woman is so out of touch!
You sur is out of touch!
Bunch of bull crap with these rich people.
zero faith in this person
Financial word salad.
It’s really despicable how our economic leaders never admit any responsibility for inflation. Note how she doesn’t even mention the role money printing has with inflation. Yet she was head of the Fed.
These people are not our "leaders". We have elected representatives, not "leaders". In any case, nobody elected this cow for anything. It was appointed.
She was the one who said the federal government could simply spend its way out of inflation.
she is in that position since they could not find a cross dressing lesbian at the time.
in case you missed her points, she meant she doesn't know anything!
she said in an interview that the deficit would be taken care of by bidens "credibility " Such is her level of being obtuse.
They never do answer questions, it’s ashamed of how out of touch all of Congress is. And also it would help if the majority of these interviews would not be preprogrammed!!
she is more of a politician than an economist.
DEI hire
Good Lord we’re in trouble with people like her in charge.
She gets rich off our suffering!!!
Why doesn’t the reporter ask follow up questions? These comments by Yellen are so provably wrong. Deficit reduction by Biden is totally wishful thinking.
We're not dumb Mrs. Yellen. You mentioned Target understanding families are having trouble with the cost of food yet Target has some of the highest food costs of any store in the area. Target understands when you actively work against families you lose money. The government needs to start cutting jobs, programs and agencies. "I think we've got a good strong economy." --- again we aren't stupid.
Too much Kool Aid Janet. Simple solution? Quit Spending!!!!!
She didn't answer one single question.
She went for Trump though and his tax polices
She didn’t answer because they plan on selling off national parks. Biden has already tried.
Doubt she's even seen a grocery receipt in 20 years. She has no clue how much food costs hurt someone who isn't sitting on $20 million dollars
“ I have no ideal what the hell I am doing “ Janet Yellen
It's certain that this year will bring more challenging challenges. Looking back, I realized that I spent the entire previous year making expensive financial blunders because I was so consumed with worrying about my portfolio. I was forced to decide between raising my investments and purchasing a home. I discovered that the property I had bought needed more work than I had anticipated after deciding to sell my investments. It's becoming more difficult to determine how much longer I can take this.
Take things easy, we've all made mistakes.
Invest in companies that provide current cash flows to diversify your portfolio. I hired a planner at the end of 2022 to enhance my portfolio, and in the last ten months, I've made profits in over fifty thousand different marketplaces. Should 2023 teach us anything, it's that luck doesn't last forever. Even in times of abundance, we should put in more effort to prepare for the worst-case scenario
Can you recommend your advisor? I could really use some assistance
Leah Foster Alderman. You'll undoubtedly find out more if you look her up online.
I appreciate the lead. I did some research on her and emailed her. I'm hoping she responds to me eventually.
At Walmart, a stock order of 45 essential items that cost $127 in 2022 now totals $414. They're lying to you, everyday.
Yes, saw that... TickTok
She parrots Democrat talking points. STOP PRINTING MONEY.
Inflation is transitory - Janet Yellen in 2021
I go to the grocery store myself each week. I don't see any real increases in price - Janet Yellen 2024
I mow yards in my retirement and have a better grasp on inflation and the economy than this woman.
Gatorade went from 1.00 for 32 oz bottle to 1.32 for a 28 oz bottle.
My little gate squeezer stand on mower went from 4K to 6k
The current regime needs to be replaced
Our economy is afflicted by uncertainty, housing troubles, foreclosures, global shifts, and the aftermath of the epidemic, all of which contribute to instability. To restore stability and drive growth, all sectors must urgently address rising inflation, slowing GDP, and trade disruptions.
The US dollar is losing value due to inflation, while other currencies are gaining strength, creating uncertainty. Nonetheless, many people remain confident in the Dollar's perceived safety. I'm concerned that my 420K retirement funds may lose value, therefore I'm looking for other financial stability.
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Do you mind if I ask you to recommend the coach you employed? It seems you've figured it all out.
My CFA, 'Leah Foster Alderman', is a well known figure in her field.
I recommend looking into her qualifications further. She has extensive knowledge and is a treasure trove for anyone seeking to manage the financial markets.
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What the HELL is wrong with these people?!?!
They are leftists. It explains everything they do.
They don't even pretend they're going to cut spending anymore
Average people moved to Florida and Texas to avoid inflation. Now we got to move to Japan. 🤷
Would you lend 4 trillion dollars to this woman? Sorry don't need a answer...you just did and will again
Every time this woman speaks, she’s lying.
80% capital gains tax - the Feds will wipe out all equity in anything of value - Y9our house, your stocks etc
For the record she's not answering the question of how we are impacting the value of currency by this ballooning debt. This impacts everything from 401k's to interest rates and impacts middle-to-lower classes most. She forwards the idea of debt going above 100% of gdp being acceptable, and that my fellow citizens is criminal. These people are spending your savings.
They are spending it on themselves. We’re the debt slaves financing their wealth. We are serfs.
Were in trouble with this buffoon running the treasury. Over the past 2 years the price of food at walmart for numerous food items is up 328%. I order numerous items from amazon monthly. Most items went up 3 dollars each since last month. One item doubled in price in less than 24 hours while in my cart before I completed the order. Inflation reduction at work. Stop gaslighting us. Its not working!
Hard to believe she's lasted as long as she has without any oxygen getting to her tiny brain. She's the only economist I've ever heard of that thinks doubling the deficit equals a balanced budget.😮😮😮
Pure BS.
Short term debt is more expensive than long term debt🙄
money printing
Selling of National Parks is the plan.
We don’t need deficit reduction, we need DEBT reduction!
Says she is bound by the Hatch Act then proceeds to violate it.
Do she know we can hear her
She is the reason why we are here!
The Chef is desperate. So many of her cookies have burnt. Now she is trying to bake a new one. The obvious purpose is not housing. She needs the Fed to print more money so the $100B could be channeled to Treasury Bills that no one wants to buy or could afford to buy more.
What is needed is to do not intervene on the market, the market will correct, the good intentioned interventions are making more damage, only investors are benefiting for all that craziness and tax credits
The clown show will continue until the collapse. Prepare.
She's referring to the Tax Relief for American Families and Workers Act of 2024. It passed in the House, but it isn't going to pass in the Senate. It's June, and an election year.
How does spending on Ukraine cut the deficit? How does housing millions of immigrants in expensive hotels cut the deficit?
Wow - this is our treasury leader. I feel like she is a hybrid blend of Kamala (word salad) and Biden (incoherent grasp of reality).
She also blames Trump's enormous debt, but didn't mention Obama that brought the new level of spending by a ton. It's Obama's fault for the massive debt increase. Even Bush during war didn't have that much debt.
Trump had Covid. If you take away Covid. Biden and Trump spent about the same.
@@ECUCHRIS904 yes, true, but Obama set the new standard of debt, the other 2 followed suit
If your serious about crubing debt, stop electing Republicans. Despite the fallacy they are the party of fiscal responsibility the track record factually says not true. Nixon took us off the gold standard and gave us our first $20 billion $ deficit, Reagan gave us the first $200 billion $ deficit, Bush jr. gave us our first 1 trillion $ deficit and then Trump gave us the first 3 trillion $ deficit. Same old story. Republican Administrations leave the country broken and Democrats are left to clean it up and get us back on track. You could go back to Herbert Hoover and it's always the same story. Just the Facts.
@@jenni8759 Not true. When Obama left office he had cut the budget deficit in half of what he had inherited and that's after saving the country from the worst depression since 29. Facts matter.
@@jenni8759 Not true. When Obama left office he had cut the budget deficit in half of what he had inherited and that's after saving the country from the worst depression since 29. Facts matter.
These fools are dangerously inept.
Who gave grandma the car keys?
Janet "Infation is transitory" Yellen
Groceries Up 20%
Way more than 20%.
Yellen looks like the captain of the TITANIC.
Soon we will have a $35 TRILLION in bills and no one will want this toilet paper.
With apologies to the captain of the Titanic. What happened to him was an accident. This is intentional.
Return the Republic to its Constitutional roots, Article I, Section 8, Clause 5: The Congress shall have Power To coin Money, regulate the Value thereof. Take all fiscal policies and monetary control out of the hands of the Federal Reserve, a private and for private bank.
"Those are IOUs. That's as good as money." - Dumb and Dumber
Yellen is almost as senile as Biden....
cause inflation
Janet Yellen is the best treatment for insomnia.
This old bag is insane-joe’s crew has added 12T $ new debt and have a 1.9T $ deficit this year
She is clueless, probably on same medication as Crazy Joe.
She lies
The money changes Greenspan, Bernanke and Yellen need to be remembered when we go belly up. Weimar Republic here we come.
She isn't making any sense.
They know the media will provide cover and half the country will just nod and go along.
At my home, we simply decide not to waste money on the less important things. For instance, we did not make a contribution to the Biden campaign.
She should have just said "Let them eat cake" and leave it at that.
2% interest rate by next year? HAHAHAHA!!!
Don’t have a policy of financing the debt? 😂 yes, you do!
You have to listen again because I think you are lost
Why is she so worried about China overproducing? Cheaper prices for us? Does this ruin their inflation plans? What is going on?
Opens her mouth but says nothing intelligible. It's incredible how her delivery can be so dull and painful to listen to.
Make it easier to remove PMI
She does not care about what is GOING to happen down the road because she will have left this life when everything expodes..... in her mind it is other peoples problem.... she just has to buy time for herself and the other ancient people in the swamp.
Incompetence and ignorance rises to the top of the Swamp.
lower profit gain tax on real estate and increase real estate tax to add more holding cost would boost inventory on market hense will lower price overall... any extra money going into market will increase inflation in housing market. doesnt matter where in real estate our seccretary put money in, doesnt matter in builder, or land or buyer side. just have to increase holding cost, then less people willing to hold house... but have to be cautious on how much pressure to put on, and which state to more pressure on.
I would not loan her 100.00 for a pair of shoes, how did we get to 2 T?
Yes!
Sad American give students an state exam to passed on to the next grade if they fail their retain in same grade. Shouldn't she take an exam to keep her job if she fail she's fired.
Or a drug test, what the heck is she smoking?
@@michaelofmarble2094 not sure but cocaine found at the white house.
2% by next year? This has been said since 2020.
Meanwhile food prices are up anywhere from 30-60% in my grocery cart. This admin isn’t out of touch, they gaslight us at every turn.
Any one who understands what she just said, please inform us cause to me that sounded like a whole lot of words with no meaning some might describe as word salad
And I thought Madeline Albright was stupid and evil...
15 minutes of saying nothing. It's all just numbers on "paper" to this woman - not real dollars and cents, not real human beings - just numbers and meaningless words
2 million new “housing units” she’s probably talking about apartments lol.
And it won't be "affordable"......
@@AKAAAK It will be free for all our new "guests" who crashed the border.
They need to change the way we build houses in order to make it cheaper and cut out regulations. Prefab is the way to go. They just want to do the same old same old. Just throw money at it. It an election year. 100 million dollars sounds like a nice round number. It won't help much. Money will just go to corpos pockets and the new renters will still barely be able to afford it.
@@AKAAAK I’m starting to think that’s the plan just have a renter nation. That’s good for the economy because you will need to work harder and be more productive if you can barely afford rent. It also makes the people who own lots of real estate incredibly wealthy. Win win
@peterwilkinson1975 It's all parts of the rich get richer, poor get poorer economics of the US.
Why do I ALWAYS have to turn on CC just to understand what she says?!? Then all her consonants are very sibilant too, so it's not easy to just turn up the volume. So awkward... I don't think there's a proper micing technique to capture her voice.
How did she amass $20 million?
"screamin' & Yellen" couldn't balance a checkbook with no transactions in it.......she ALMOST makes Dementia Joe sound normal by comparison. (And that's saying a lot!)
Remember transitory inflation🤪😜
This Obama holdover makes about as much sense as Biden does
I’m above average intellectually. I have no idea what this woman says. I don’t think she does either. Just a bunch of double talk.
Transitory
Explain it to me like I’m four years old.
Dystopian Newspeak from the Head Piggie of The Bureau of the Limitless Pit.
Yadda, yadda, yadda!
Complete double talk.
So many lies
Wow... this gal is just EVIL.
What a bunch of double talk.
Another juish word salad.
Alien eyes
Crazy lady
Dow
.
Credit card granny
So, kick the can down the road. If you’re under 50, you’d better worry. There won’t be SS in another decade.
Firstly, inflation typically takes about 2-3 years to unfold into the economy regardless of what it's cause is. This latest round came from primarily 3 things. Trump's failure of crisis management of the pandemic and it's collateral damage. Unemployment hitting depression level rates at over 15%, yet still having their income subsidized with government support programs. Broken supply chains driving prices up on thousands of consumables. This is something corp America is still trying to fix. Second were the budget deficits the Trump administration ran up. In 2019 Republicans passed a record setting 3.1trillion dollar deficit for 2020 and in 2020 left Biden with a 2.8 trillion dollar deficit for 2021. For the moment we're back down to 1.6 trillion projected for 2024. Add to that the upside down tariffs Trump imposed on everything from Agriculture to Technology causing a massive record farmers bailout. And the third cause was the Federal Reserve leaving interest rates to low for too long coming out of the pandemic, especially after congress passed the Biden bipartisan fiscal stimulus programs which will carry the economy for the next decade. Of which less than 20% has been spent to date.
Just for context of where we are in the historical picture. Over the last 60 years the 10 yr T-note averaged 5.9% and the average inflation rate was 3.8%. So even with the higher prints we've seen we are back down below the averages. We are basically back to normal. It just doesn't feel that way when "easy" was all you've ever known coming out of the Bush housing recession. The Trump administration benefited from the tail end of the Obama recovery. The Fed had finally started to raise rates off 0% and was starting to unload the balance sheet. And then came the Pandemic and had the Fed not put the pedal back to the metal we would have likely seen a recession worse than the one Bush handed off to Obama.
The basic definition of inflation is to much demand chasing too few goods and services. A strong economy will do just that. That's what we're fighting right now and why the Fed raised rates and will likely keep them high for a while yet, to try and slow the economy down a little. Slow down demand until supply can catch back up.
Trump had to deal with Covid.
@@ECUCHRIS904 Monitors wouldn't let me reply to you for some reason. So had to post as a new comment. If your interested look for it as new comment. Thanks for your response.
Shes a gew