Janet Yellen: “I think we cannot be satisfied that we have full employment without full employment across demographic lines, meaning…”

But what caused our cash balances to run to exceptionally low levels in the past was the failure of Congress to raise the debt limit.

President Biden proposed a full-blown budget that contains substantial deficit reduction, $3 trillion over 10 years.

I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs.

We will respond to the letter, and I don't really have more to say about that.