Janet Yellen warns about looming debt ceiling, again
CNBC's Ylan Mui joins 'Power Lunch' to report on Treasury Secretary Janet Yellen's comments on the looming debt ceiling as the deadline nears. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen testify Tuesday before the Senate Banking Committee in required updates regarding Covid-19′s impact on the economy and the respective policy measures taken to combat the pandemic.
In prepared remarks for the hearing, Powell cautioned that the virus, and its most recent omicron variant, could have consequences for growth and inflation.
“The recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation,” the central bank leader said. “Greater concerns about the virus could reduce people’s willingness to work in person, which would slow progress in the labor market and intensify supply-chain disruptions.”
In her remarks, Yellen expressed confidence in the economy and urged Congress to raise the debt ceiling and support the Biden administration’s Build Back Better agenda.
“Of course, the progress of our economic recovery can’t be separated from our progress against the pandemic, and I know that we’re all following the news about the Omicron variant. As the President said yesterday, we’re still waiting for more data, but what remains true is that our best protection against the virus is the vaccine. People should get vaccinated and boosted,” she said.
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Видео Janet Yellen warns about looming debt ceiling, again канала CNBC Television
Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen testify Tuesday before the Senate Banking Committee in required updates regarding Covid-19′s impact on the economy and the respective policy measures taken to combat the pandemic.
In prepared remarks for the hearing, Powell cautioned that the virus, and its most recent omicron variant, could have consequences for growth and inflation.
“The recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation,” the central bank leader said. “Greater concerns about the virus could reduce people’s willingness to work in person, which would slow progress in the labor market and intensify supply-chain disruptions.”
In her remarks, Yellen expressed confidence in the economy and urged Congress to raise the debt ceiling and support the Biden administration’s Build Back Better agenda.
“Of course, the progress of our economic recovery can’t be separated from our progress against the pandemic, and I know that we’re all following the news about the Omicron variant. As the President said yesterday, we’re still waiting for more data, but what remains true is that our best protection against the virus is the vaccine. People should get vaccinated and boosted,” she said.
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Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
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Видео Janet Yellen warns about looming debt ceiling, again канала CNBC Television
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