Janet Yellen: “I signed the amicus brief because I was persuaded by the argument that Professor Card made and the strength of his…”

President Biden has made it clear he would never support cuts in benefits to those individuals.

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.

I think what we found during that time was that implementing strong capital, liquidity, and risk management rules led to a stronger banking system.

In 2034, under our budget, I believe it would be around 45 trillion.