WATCH LIVE: Treasury SecYellen to testify in front of the Senate Finance Committee on the president's 2024 budget.
The meeting will be convened by Senate Finance Committee Chairman Ron Wyden , and the stated topic is “The President’s Fiscal Year 2024 Budget.”Yellen testified in front of the committee's House equivalent last week, and she received a frosty reception from its majority-Republican members. It was her first testimony since the Republicans seized majority control.
She was grilled over the Biden administration's annual budget proposal, which included $6.9 trillion in spending for fiscal 2024, resulting in an estimated $17 trillion deficit over the next decade.Her reception in the Democratic-controlled Senate is likely to be somewhat more relaxed, but the topic is likely to shift to the administration's handling of the Silicon Valley Bank collapse.
Yellen ruled out bailing out SVB, but she pledged that depositors would get their money back without specifying how.
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