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Low. And its projected as the population continues to age in the baby boomers retire that that ratio will continue to rise in an unsustainable fashion. So, the addition to the debt taking what is already a significant problem and making it worse is it is of concern to me, and i think it does suggest that in some future downturn, which could occur just for whatever reason, the amount of fiscal space that would exist for fiscal policy to play an active role it will be limited, it may well be limited. Sam fleming with the financial times. Couple of longer term questions, first of all, midway thro...

That that ratio will continue to rise in an unsustainable fashion , so the addition to the debt taking what is already a significant problem and making it worse is, it is of concern to me and i think it does suggest that in some future downturn which, well, could occur just for whatever reason, the amount of fiscal space that would exist for fiscal policy to play an active role may well be limited. Sam and then victoria. Sam flemming. A couple of longer term questions. First of all midway through the year you talked about issues of whether inflation targets might need to be raised and a lot mo...

, i still bit coin see a Financial Stability risks. Often, risks threatening Financial Stability rise when there is exposure of the Banking System to fluctuating asset valuations. See anyally dont significant exposure of our Core Financial institutions to threats from bit coin, if its value were to fluctuate. See a threat to our Core Financial institutions. Undoubtedly there are individuals who could lose a lot of money if bit coin were to fall in price, but i really dont see that as creating a fullblown Financial Stability risk. Michael mckee, last question. I suppose i should be asking you a...

On wall street, the dow closed at a record. Investors focus was on washington and reports that republican cd a tentative agreen a tax bill. At the Federal Reserve, policymakers felt confident enough in the economy to raise Interest Rates again and sharply lift their outlook for growth. The Dow Jones Industrial av rose 80 points to 24,585, an alltime high. It had been up triple digits for most of the day. The nasdaq gained 13 and the s p 500 lost some steam into the close, falling one point. Lets start tonight with that big tax bill which does appear to be nearing the finish line. Republican le...

Jerome powell is awaiting senate confirmation. Ms. Yellen good afternoon. Today the committee decided to raise the target range for the federal funds raised by point 25 of one percentage point bringing it to 1. 252 1. 5 . Our decision reflects our assessment that a gradual removal of Monetary Policy accommodation will sustain the strong labor market while fostering a return of inflation to 2 consistent with the maximum employment and price stability objectives assigned to us by law. The decision i will review recent Economic Development in the outlook. Following a slowdown in the first quarter...