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[Music] foreign [Music] welcome to BWC news I am Elizabeth on the day of this Mondays New York fed report Yellen commented in a media interview that so far the FED appears to be able to achieve both lower inflation while keeping the labor market strong I would say so far so good Yellen acknowledged that there are clearly some risks in that the global situation we face is very uncertain and there could be shocks in that regard inflation still looks too high but it has fallen in the past year with the dollar as the worlds Reserve currency U.S treasuries as the ultimate safe asset and the deepest and most liquid financial markets in the U.S a U.S default would be unthinkable the only way to avoid a default is for Congress to do its job and raise the debt ceiling the global sell-off began last year and is still ongoing the U.S debt is at risk of default and for the first time since 1789 may not be able to pay all its bills on time if the default crisis is not mitigated by raising the de
