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☆ Who will care for older adults? We’ve plenty of know-how but too few specialists
▼ + stars: | 2023-11-02 | by ( Judith Graham | Kff Health News | ) edition.cnn.com time to read: +7 min

Research suggests each geriatrician should care for no more than 700 patients; the current ratio of providers to older patients is 1 to 10,000. In some respects, geriatrics has been remarkably successful in disseminating principles and practices meant to improve the care of older adults. Under this model, older adults with acute but non-life-threatening illnesses get care at home, managed closely by nurses and doctors. In July 2019, the American College of Surgeons created a program with 32 standards designed to improve the care of older adults. The bright lights, noise, and harried atmosphere in hospital emergency rooms can disorient older adults.

Persons: Jerry Gurwitz, “, ” Gurwitz, What’s, “ There’s, ”, geriatrician Gregg Warshaw, geriatrics, Michael Harper, Thomas Robinson, geriatricians, Dr, Sanjay Gupta, Lisa Walke, Harper Organizations: CNN, University of Massachusetts Chan Medical, National Academies of Sciences, Engineering, Medicine, American Geriatrics Society, University of North Carolina School of Medicine, University of California, Seniors, American College of Surgeons, Initiative, Geriatric, American College of Emergency Physicians, Centers, Medicare, Medicaid Services, UCLA, Indiana University, Johns Hopkins University, UCSF, Get CNN, CNN Health, Penn Medicine, University of Pennsylvania, KFF Health, Kaiser Health, KFF Locations: United States, San Francisco

☆ Stocks making the biggest moves premarket: AMD, WeWork, Wayfair, Humana and more
▼ + stars: | 2023-11-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Advanced Micro Devices — The chipmaker dipped more than 1% after issuing softer-than-expected revenue guidance for the fourth quarter. Match Group — The dating service platforms owner shed 8.3% on weaker-than-estimated revenue guidance for the fourth quarter. Wayfair — The online furniture retailer tumbled 12% after third quarter revenue missed analyst expectations. Yum reported $2.91 billion in revenue, while analysts had expected $3.06 billion in revenue, according to estimates from LSEG. Caesars Entertainment – The gaming stock rose 5% before the bell after topping Wall Street's third-quarter earnings expectations.

Persons: General Motors, Wayfair, Goldman Sachs, ZoomInfo, FactSet, Estee Lauder, —, Kraft Heinz, Paycom, Fred Imbert, Alex Harring, Jesse Pound, Samantha Subin, Sarah Min Organizations: Street Journal, Ford, General, Barclays, CVS, Technologies, Humana, Kraft Heinz, FactSet, Yum China, —, Caesars Entertainment, LSEG Locations: Aetna, China, LSEG

☆ New US House Republican speaker faces early test on government funding
▼ + stars: | 2023-11-01 | by ( David Morgan | ) www.reuters.com time to read: +5 min

Newly elected Speaker of the House Mike Johnson (R-LA) takes his oath of office after he was elected to be the new Speaker at the U.S. Capitol in Washington, U.S., October 25, 2023. "This will be a litmus test," said Representative Ryan Zinke, a Republican who sits on the House committee that sets spending priorities. With a similar use of previously allocated money, House Republicans would spend a net $65.2 billion on transportation, housing and urban development, 25% below current levels. Even if passed, the House Republican bills have no chance of succeeding in the Democratic-led Senate or being signed into law by Democratic President Joe Biden. While the House has focused on passing spending bills with only Republican votes, the Senate has worked on measures that have bipartisan support.

Persons: Mike Johnson, Elizabth Frantz, Republican Mike Johnson, Johnson's, Don Bacon, Johnson, Israel, Chuck Schumer, Schumer, Ryan Zinke, Kevin McCarthy, Kelly Armstrong of, Joe Biden, Bob Good, Bacon, David Morgan, Scott Malone, Alistair Bell Organizations: U.S, Capitol, REUTERS, Rights, Republican, U.S . House, Department of, Hamas, Ukraine, Internal Revenue Service, Social Security, Democratic, Republicans, Environmental Protection Agency, Senate, Thomson Locations: Washington , U.S, Louisiana, Nebraska, Israel, Kelly Armstrong of South Dakota, Virginia

When surveyed by the department, 45% of Ohio’s financial advisers said they were aware of a client of theirs, or a client’s family member, that was struggling with addiction. In the program, financial advisers are taught to look for certain signs. Those seeking help can input their insurance status and treatment needs to be connected programs they can more easily afford or receive financial help with. Financial advisers have had to come up with ways to combat a multitude of financial crises, like increasing cybersecurity breaches or investment fraud targeting the elderly. Lori Eisel, a financial adviser and owner of Arcadia Financial Partners, knows both sides of the struggle.

Persons: — Joe Smith, that’s, Smith, Smith’s, Olivia, don’t, ”, Andrea Seidt, ” Seidt, Carl Hollister, L.M, Kohn, Hollister, Lori Eisel, ” Eisel, “, Joe Smith, ” Smith, He’s, __ Samantha Hendrickson Organizations: Society of Actuaries, state’s Department of Commerce, Ohio, Arcadia Financial Partners, Associated Press, America Statehouse News Initiative, America Locations: COLUMBUS , Ohio, Columbus , Ohio, Ohio, Cincinnati, stow

Political Cartoons View All 1230 ImagesThe Montana State Hospital violates those laws and its patients' constitutional rights to dignity and due process, the lawsuit states. DiMauro, who suffered a traumatic brain injury in 2012, was admitted to the Montana State Hospital in September 2020. Staff also failed to treat a wound on his forehead that he suffered in a fall, the lawsuit states. Patzoldt, then 75, was admitted to the Montana State Hospital on Oct. 19, 2021, after having behavioral disruptions at a memory care center. A review of his records found his heart medication was not given to him for nearly three weeks in November 2021, the lawsuit states.

Persons: HELENA, Lucio DiMauro, David Patzoldt, Lesley Jungers, Greg Gianforte, Patzoldt, cellulitis Organizations: —, Montana State Hospital, Department of Public Health, Human Services, The Montana State Hospital, Staff, Medicare, Services Locations: Mont, Butte, Spokespeople, COVID, Montana

☆ Her student loan bill was supposed to be $0. Then $2,074 was taken from her account
▼ + stars: | 2023-11-01 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Morgan Lindsay didn't mind that student loan bills were resuming in the fall. She'd applied for a new repayment plan over the summer, and her calculated monthly bill came to $0. But then, on Sept. 11, she found that her servicer, Mohela, or the Missouri Higher Education Loan Authority, had taken $2,074 from her bank account. More from Personal Finance:Will Social Security be there for me when I retire? Medicare open enrollment may cut retiree's health-care costsHow much your Social Security check may be in 2024But under the income-driven repayment plan she'd signed up for, she didn't owe anything.

Persons: Morgan Lindsay, She'd, Lindsay, she'd, Mohela Organizations: Missouri Higher Education Loan Authority, Finance, Will Locations: Missouri

☆ The sell-off in Humana is overdone after strong earnings. Jim Cramer says buy the stock
▼ + stars: | 2023-11-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

"The story is on track, and I think you buy the stock," Jim Cramer said during Wednesday's Morning Meeting . Since its 2023 lows on July 13, Humana stock rallied more than 23% compared with a roughly 7% slide in the S & P 500 over the same stretch. Management's initial commentary on 2024 earnings and Medicare Advantage membership growth — discussed in more detail below — may also have left investors wanting. Humana also expects EPS growth in 2024 to fall on the lower end of its historical long-range 11%-to-15% target. Capital allocation Humana still expects to buy back about $1.5 billion worth of stock in 2023, finance chief Diamond said on the earnings call.

Persons: —, Jim Cramer, they've, UnitedHealth, Humana, Susan Diamond, Diamond, Bruce Broussard, Jim Rechtin, Broussard, Jim Cramer's, Jim Organizations: Medicare, Revenue, Humana, UnitedHealth, CNBC, Inc

It’s time to pick health coverage for next year on the Affordable Care Act’s insurance marketplaces, and experts caution against focusing your choice on price alone. Here are some things to consider when assessing marketplace plans. Many people who haven't shopped on the marketplace don’t know that they can get this help, according to Jeremy Smith, who directs West Virginia’s health insurance navigator program. “They’re just used to having health coverage … and it covers everything.”Plans also can come with annual out-of-pocket maximums higher than $9,000 for individuals and $18,000 for families. “The good news is a lot of people who’ve been in Medicaid will likely qualify for these cost-sharing reductions,” said Sabrina Corlette, co-director of Georgetown University’s Center on Health Insurance Reforms.

Persons: haven't, Jeremy Smith, ”, ” Smith, “ They’re, who’ve, Sabrina Corlette, “, Cynthia Cox, HMOs, Kelly Fristoe, Smith Organizations: Medicaid, Shoppers, Georgetown University’s Center, Health, KFF, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Wichita Falls , Texas

☆ Humana shares fall as reaffirmed 2023 profit view disappoints
▼ + stars: | 2023-11-01 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

Signage for Humana Inc. is pictured at a health facility in Queens, New York City, U.S., November 30, 2021. The health insurer stuck to its 2023 adjusted profit target of at least $28.25 per share. As of Sept. 30, 5.9 million members were enrolled in its Medicare Advantage plans, up 14.7% from a year ago. The company raised its forecast for 2023 Medicare Advantage membership for the second time this year, and now expects to add at least 860,000 people. It reported a quarterly adjusted profit of $7.78 per share, beating analysts' estimate of $7.16 per share.

Persons: Andrew Kelly, Humana, Julie Utterback, Utterback, UnitedHealth, Khushi, Milla Nissi Organizations: Humana Inc, REUTERS, Wednesday, Health, Humana, Medicare, Thomson Locations: Queens , New York City, U.S, Bengaluru

☆ How a Lucrative Surgery Took Off Online and Disfigured Patients
▼ + stars: | 2023-10-30 | by ( Sarah Kliff | Katie Thomas | ) www.nytimes.com time to read: +1 min

“I was afraid it would burst,” said Ms. Hudson, 74, a retired airport baggage screener in Ocala, Fla. The painful protrusion was the result of a surgery gone wrong, according to medical records from two doctors she later saw. One of the doctors she saw later, a leading hernia expert at the Cleveland Clinic, doubted that Ms. Hudson had even needed the surgery. Ms. Hudson’s original tear, which was about two inches, could have been patched with stitches and mesh, the surgeon believed. And that figure is a fraction of the actual number, researchers said, because most hernia patients are too young to be covered by Medicare.

Persons: Peggy Hudson’s, ”, Hudson Organizations: Cleveland Clinic, Medicare Locations: Ocala, Fla

☆ Opinion | Speaker Mike Johnson and the Role of Religion in Politics
▼ + stars: | 2023-10-30 | by ( ) www.nytimes.com time to read: +4 min

To the Editor:Re “Speaker Injects Fervent Faith Into His Policy” (front page, Oct. 29):I am pleased to know that our new speaker of the House, Mike Johnson, takes his Christian faith seriously. Ginger LennonPrinceton, N.J.To the Editor:Speaker Mike Johnson declares that he derives his worldview from the Bible. Thomas M. GinnWinston-Salem, N.C.To the Editor:Re “Welcome, Speaker Johnson, to the Worst Job in Politics,” by Benjamin Domenech (Opinion guest essay, nytimes.com, Oct. 27):The new House speaker, Mike Johnson, faces a critical challenge in our country’s history and the history of his party. So, good luck, Mr. Speaker. After reading Mr. Bouie’s column about the new speaker of the House, Mike Johnson, I could only think, what have we come to?

Persons: Mike Johnson, Sheldon W, Bennett Quincy, Ginger Lennon Princeton, Paul Krugman, Johnson, Bill Eiffert San, Donald J, Trump, narcissist, Thomas M, Ginn Winston, Benjamin Domenech, Let’s, Willie Dickerson Snohomish, Jamelle Bouie, Mr, Donald Trump, Harvey Glassman Boynton Organizations: Electoral College, Republican Locations: Mass, United States, N.J, Bill Eiffert San Diego, Salem, N.C, America, Wash, Harvey Glassman Boynton Beach, Fla

☆ Former Vice President Pence quits the presidential race after struggling to gain traction. 'This is not my time,' he says
▼ + stars: | 2023-10-28 | by ( ) www.cnbc.com time to read: +6 min

Former Vice President Mike Pence on Saturday dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls. "So after much prayer and deliberation, I have decided to suspend my campaign for president effective today." A former vice president would typically be seen as a formidable challenger in any primary, but Pence has struggled to find a base of support. Pence did not immediately endorse any of his rivals, but continued to echo language he has used to criticize Trump. But even in Iowa, Pence struggled to gain traction.

Persons: Mike Pence, Pence, Donald Trump, Trump, Lincoln, Mike Huckabee, Rick Santorum, Karen Organizations: Republican, White House, Republican Jewish, Trump, Associated Press, NORC, for Public Affairs Research, Indiana, Arkansas Gov, Republican Party, Las, The Heritage Foundation, Social Security Locations: Las Vegas, Iowa, Miami, U.S, Israel

☆ Jobs and earnings are major themes next week as we consider more portfolio moves
▼ + stars: | 2023-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

But in the end, it's fundamentals that drive earnings and earnings that drive stock prices. Looking ahead to next week, we'll get several important macroeconomic updates along with nine Club earnings reports. Economic releases Next week is Jobs Friday when we get the government's monthly nonfarm payrolls report. Club stock earnings Club name Caterpillar (CAT) reports third-quarter results before the opening bell Tuesday. DuPont (DD) is set to report earnings.

Persons: it's, we'll, nonfarm payrolls, We'll, Estee Lauder, Eli Lilly, BUD, Jerome Powell, Kraft Heinz, WEN, Papa John's, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Caterpillar, GE Healthcare, DuPont, Bausch Health, Starbucks, Apple Watch, VF Corp, GE HealthCare, Pfizer, JetBlue, Anheuser, Busch InBev, Devices, Caesars Entertainment, Cruise, CVS Health, Brinker International, Yum Brands, PayPal, Qualcomm, Mondelez, Novo Nordisk, Barrick, Penn Entertainment, Paramount Global, Marriott, Ferrari, Molson Coors, TAP, Coinbase, Natural Resources, Booking Holdings, International, Monster Beverage, Health, Resources, Dwight, Restaurant Brands, Sempra Energy, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: North America, China, New York City, U.S

NEW YORK (AP) — Former Vice President Mike Pence on Saturday dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls. “After much prayer and deliberation, I have decided to suspend my campaign for president effective today," Pence said at the Republican Jewish Coalition gathering in Las Vegas. Pence becomes the first major candidate to leave a race that has been dominated by his former boss-turned-rival, Donald Trump. But even in Iowa, Pence struggled to gain traction. Pence ended September with just $1.18 million in the bank and $621,000 in debt, according to his most recent campaign filing.

Persons: —, Mike Pence, Pence, Donald Trump, Trump, Trump’s, Mike Huckabee, Rick Santorum, Karen Organizations: Republican, White House, Republican Jewish Coalition, Trump, Associated Press, NORC, for Public Affairs Research, Indiana, Arkansas Gov, Republican Party, The Heritage Foundation, Social Security Locations: Las Vegas, Iowa, Miami, U.S, Israel

But Johnson told Fox News in an interview late on Thursday that House Republicans want "certain conditions" attached to any stopgap bill. "We need a path forward," said Representative Steve Womack, a senior Republican member of the House Appropriations Committee. Meanwhile, the House and Senate must deal -- in one fashion or another -- with the 12 regular spending bills funding government activities for the fiscal year. For months, many Republicans had opposed such a measure, arguing it simply enshrines spending priorities written last year by Democrats, who controlled the House, Senate and White House. SENATE PROGRESSThe Senate, following long delays imposed by a few Republicans, moved ahead with three of its 12 bipartisan funding bills.

Persons: Kevin Wurm, Mike Johnson, Johnson, Johnson's, Kevin McCarthy, Steve Womack, Womack, Joe Biden, Thomas Massie, Chuck Schumer, Schumer, Hakeem Jeffries, dealmaking, Andy Biggs, Richard Cowan, David Morgan, Scott Malone, Richard Chang, Daniel Wallis Organizations: U.S, Capitol, REUTERS, Rights, U.S . House, Fox News, Republicans, Republican, Democratic, Biden, White, Defense Department, federal Social Security, Top, Christian, Thomson Locations: Washington , U.S, U.S, Israel, Ukraine, Mexico, Washington

☆ US Shifting COVID Antivirals to Commercial Market on Nov. 1
▼ + stars: | 2023-10-27 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

The government has been overseeing distribution of the treatments, alongside vaccines and tests, but has transferring that work to traditional commercial channels. Commercial ordering for the treatments is set to start on Nov. 1. The U.S. government paid around $530 per course for Paxlovid, the most commonly prescribed at home COVID-19 treatment in the country, and made it available at no cost. Returns will begin on Nov. 15, the official said, and will be accepted through the end of the year. The government is recommending returns start in December enough time for the establishment of patient assistance programs and securing of commercially-labeled doses.

Persons: Ahmed Aboulenein WASHINGTON, Lagevrio, Ahmed Aboulenein, Marguerita Choy Organizations: U.S, Pfizer, Paxlovid, U.S . Department of Health, Human Services Locations: U.S

WASHINGTON (AP) — The COVID-19 treatments millions of Americans have taken for free from the federal government will enter the private market next week with a hefty price tag. Pharmaceutical giant Pfizer is setting the price for a five-day treatment of Paxlovid at $1,390, but Americans can still access the pills at no cost -- for now. The less commonly used COVID-19 treatment Lagevrio, manufactured by Merck, also will hit the market next week. People on private insurance may start to notice copays for the treatments once their pharmacy or doctor's office runs out of the COVID-19 treatments they received from the government. Full-year revenue for Paxlovid and Pfizer's COVID-19 vaccine, Comirnaty, is expected to be approximately $12.5 billion.

Persons: “ Pfizer, Paxlovid, coronavirus, Pfizer's, “, Tom Murphy Organizations: WASHINGTON, Pharmaceutical, Pfizer, Merck, Health, Human Services, The Department of Veterans Affairs, Department of Defense, Indian Health Service, U.S, Associated Press, and Drug Administration, Paxlovid Locations: U.S, Indianapolis

The logo for AbbVie is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. Morningstar analyst Damien Conover said he had already factored in a hit to Imbruvica from the Medicare price negotiations, so the update on impairment was not "overly significant to our view." Humira's global third-quarter sales fell 36% to $3.55 billion, but topped analysts' estimates of $3.48 billion, according to LSEG data. AbbVie in July trimmed its 2023 view for Humira sales erosion to 35%, from 37% earlier. The company's newer immunology drugs Skyrizi and Rinvoq generated sales of $2.13 billion and $1.11 billion, respectively, ahead of analyst expectations of $2.10 billion and $1.02 billion.

Persons: Andrew Kelly, girding, AbbVie, Imbruvica, Morningstar, Damien Conover, Humira, Piper Sandler, Christopher Raymond, Ingelheim, Leroy Leo, Christy Santhosh, Maju Samuel, Bill Berkrot Organizations: New York Stock Exchange, REUTERS, U.S, Medicare, Analysts, Sandoz, AbbVie, Thomson Locations: New York City , New York, U.S, The Illinois, Bengaluru

The government has been overseeing distribution of the treatments, alongside vaccines and tests, but has transferring that work to traditional commercial channels. Commercial ordering for the treatments is set to start on Nov. 1. Returns will begin on Nov. 15, the official said, and will be accepted through the end of the year. The government is recommending returns start in December enough time for the establishment of patient assistance programs and securing of commercially-labeled doses. Reporting by Ahmed Aboulenein Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Lagevrio, Ahmed Aboulenein, Marguerita Choy Organizations: U.S, Pfizer, Paxlovid, U.S . Department of Health, Human Services, Thomson Locations: U.S

☆ ‘Guided Missile Drugs’ Could Be Big Pharma’s Secret Weapon
▼ + stars: | 2023-10-26 | by ( David Wainer | ) www.wsj.com time to read: 1 min

Merck and Daiichi Sankyo agreed to jointly develop and commercialize three potential antibody-drug conjugates in a deal worth up to $22 billion. Photo: Christopher Occhicone/Bloomberg NewsA true home run in the drug industry is when a company develops a mega-blockbuster that transforms its finances for years. But with Medicare trying to bring costs down by targeting the industry’s most expensive drugs, a portfolio of medium-size moneymakers that can keep your name off the U.S. government’s naughty list can be a wise strategy.

Persons: Christopher Occhicone Organizations: Merck, Bloomberg

If you want to retire early, start early and look at your expenses, your income, and your assets. But I didn't pay much attention to the second half of the book, which lays out a plan to retire early. Recently, I've been thinking about what early retirement might look like. Real estate and other assets are possible sources of income to fund an early retirement. The 3-bucket planCannon suggested making an emergency fund to deal with sudden expenses, like a medical event or a home or car repair, the foundation of your retirement plan.

Persons: —, I've, Bryan Cannon, Cannon, isn't, they're, doesn't Organizations: Service, Cannon Advisors, Social Security, Social Locations: Real

☆ Social Security Is Now Enriching Older Americans at the Expensive of Everyone Else - The New York Times
▼ + stars: | 2023-10-26 | by ( C. Eugene Steuerle | Glenn Kramon | ) www.nytimes.com time to read: +2 min

Like many past ones, it protects the growth of Social Security and Medicare — and cuts the share of the budget devoted to discretionary programs like science and research, environment and education. But there’s another way to help long-term: Those in late middle age will need to work longer as they live longer. That would help shore up revenue with additional Social Security taxes and the income taxes that largely pay for Part B of Medicare. We can adjust Social Security to help achieve that goal. We can both increase revenues and reduce spending by increasing the earliest retirement age from 62, and also the full-retirement age from 67.

Persons: MAGA Organizations: Democrat, Republican, Social Security, Medicare, Security Locations: Washington, France, Russia

☆ Here are 4 ways health savings accounts can be used to pay insurance premiums
▼ + stars: | 2023-10-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

COBRA coverage typically allows consumers to keep the same health-care providers, but the coverage is often pricey. With COBRA coverage, however, individuals may have to cover the full premium, up to 102% of the cost to the plan. Premiums while on unemploymentHealth premiums paid by someone receiving unemployment compensation under federal or state law are also eligible. These might be premiums for COBRA or a health plan purchased over an Affordable Care Act marketplace, for example. Medicare beneficiaries don't have to pay their premiums directly with an HSA to get the benefit.

Persons: they'd, Carolyn McClanahan, it's, —, — aren't, McClanahan, There's, isn't Organizations: IRS, Affordable, Bank, Getty, Social Security Locations: Jacksonville , Florida

☆ Bristol Myers Squibb earnings top estimates even as top-selling drug fights generic competition
▼ + stars: | 2023-10-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Bristol Myers Squibb on Thursday reported quarterly adjusted earnings that topped expectations and posted revenue in line with estimates, even as sales of the company's popular blood cancer drug Revlimid plummeted due to generic competition. Bristol Myers also reiterated its full-year revenue guidance of a low single-digit percentage decline. Bristol Myers said both older and new drug products helped offset the lower sales of Revlimid for the third quarter. Eliquis, which Bristol Myers shares with Pfizer , is among the first ten drugs selected to face price negotiations with the federal Medicare program. Bristol Myers will hold an earnings call with investors at 8 a.m. E.T.

Persons: Revlimid, Bristol Myers, –, Eliquis, FactSet, Opdualag Organizations: Bristol Myers Squibb, Bristol, LSEG, Pfizer, FactSet, Therapeutics Locations: Wednesday's

☆ Yellen says US GDP is a 'good strong number', may keep bond yields higher
▼ + stars: | 2023-10-26 | by ( David Lawder | ) www.reuters.com time to read: +2 min

"It's a good strong number and shows the economy is doing well," Yellen said at a Bloomberg live interview event. She dismissed suggestions that higher bond yields may be due to worries about rising U.S. deficits or worries about a recession. Yellen said that the U.S. debt servicing burden would be a "bigger challenge if the interest rate path stays higher." She has maintained that the real interest rate costs for the federal government have remained close to 1% of GDP, a manageable level. "The higher the interest rate path, the more that we need to do" on deficit reduction, she said.

Persons: Janet Yellen, Amit Dave, Yellen, Joe Biden's, David Lawder, Daniel Burns, Franklin Paul, Jonathan Oatis Organizations: Treasury, Central Bank governors, REUTERS, Rights, . Treasury, Bloomberg, Commerce Department, Social Security, Thomson Locations: Gandhinagar, India, U.S

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