Janet Yellen warns about looming debt ceiling, again

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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[henryannis]

But nobody talks about paying off the debt, only how much we can increase it. This would be funny if we weren’t condemning our children to a life far far lower than our current standard of living.

[vlada]

2 weeks for almost 300 billion dollars. Thats terrifying.

[GeosRealityReport]

THEY DONT HAVE A SOLUTION! JUST PRINT MORE MONEY

[samuelsam]

Clear my doubt debt ceiling increased??

[andrewtownend]

American as allready gone $29 trillion over the dept ceiling.

[denniswilder]

Balance the budget and not pay these jackasses then cut giving welfare to people who abuse it.there is no reason on earth a 21 year old who drives a car should be on welfare.

[samshabbar]

should we start raising the debt limit daily.. the world is sick of it and its gonna cost us everything.. we r f.... ed..

[robertocorrea]

J Yellen - the biggest factor behind erosion of middle class in the last decade. As a fed chair as well as a treasury chief, we expect her to work for American people beyond political lip service but she made sure that the fastest recovery since 2008 was only for the rich and upper class.

[leonardbrinkman]

Is that why Janet yellen is warning us about the debt ceiling on Januaries

[ca]

THE COUNTRY SHOULD WARN EACH OTHER OVER A LOOMING JANET YELLIN

[komyfobik]

The Wisest Child sits silently & observes
The distressful bleating of the farmer, the sheep dog barking wolf-wolf-wolf,
The herding of the fearful & cutting of the throats
With the masked poisonous sheath
The Wisest Child sits & patiently sharpens his gaffe
For the vengeful retribution of the many
The Wisest Child will not lead but join in to unify & strengthen
The victorious, toppling response of the ELITE by the many

[Crownliving]

Jesus said I’m sending a trial upon the earth to test thoughs who say didn’t sacrifice their lives to me

[leonardbrinkman]

That's what I call hostage taking because apparently from what I understand is that the guy has to end up doing it anyway because I can tell you right if they go ahead and do it then guess what the name might as well hold the entire government hostage in order to get what they want so let's see what next! And besides how did they think that people are going to get paid because I can tell you this it's going to basically take a lot of Dutch unkilled the way it get what they want. And you made this is a dangerous game so let's see if they can do something and that, who's going to pay for the damage that's been done?