Janet Yellen: “There is more work to do to put fiscal policy on a sustainable course . . .”

The treasury secretary, Janet Yellen, is my exclusive guest tonight.

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.

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

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