An adjustment to the new normal. The new normal being Interest Rates rising in the us. Credit becoming more expensive, which is especially bad for companies which have a high leverage. And the cheap money, the bond buying of the central banks, both in the us and in europe stopping. So we are getting off that drug called cheap money and low Interest Rates. Acres people at this point are thinking about where to put their money, the pension fund managers, the big fund managers, if Interest Rates in the United States are going to go up more than we were thinking, maybe more than three times this year, maybe four, you will think about where to put your money, it wont necessarily be in emerging markets. It might be in the United States. It may be in the United States. It may be in the United States, it may be in europe, which is going gangbusters. What has been encouraging for emerging markets, we did not see that drain of capital. Remember when they started, when they had ill fate of rate h
To 162 more per metric ton than foreign flag carriers for usda programs. If u. S. Flag carriers had matched the average foreign flag rate in each these years, we would have spent 23. 8 mmm less for shipping. And we did a little back of the envelope map and we think that comes out to about 500,000 in foodd theyd we could have helped. Extra money spent on shipping is money not spent feeding hungry people. Im not qualified to judge whether the cargo preference requirement achieves the necessary National Security objective of maintaining sea lift with the goal tied to that capacity. However, we at cathly Relief Services deeply appreciate the service and sacrifice of mariners who have helped deliver food aid for the last 60 years. We welcome their contribution that did do not diminish the programs ability. Surely there are other ways of supporting the mariners and maintaining our nations sea lift capacity without penal lizing vulnerable and hungry people. Short of eliminating the cargo pref
We will receive testimony on the protection of consumer data at Credit Bureaus. At the equifax hearing members expressed interest in better understanding how Credit Bureaus are regulated, how they protect consumer data, and whether there are gaps that Congress Needs to fill. Ive long been concerned about the ever increasing amounts of big Data Collected by companies and by the government. It is critical that Personnel Data is protected. Consumer impact in thee vented of a breach is minuimized and consumers ability to access credit is not harmed. Credit bureaus play a valuable role in our Financial Institution by assessing a persons ability to meet financial obligations an also facilitating access to beneficial Financial Products and services. The inherent nature of the Credit Bureaus business, as with most businesses in this digital age, requires utmost Data Security to ensure that sensitive Consumer Information is safeguarded. Two weeks ago equifax testified about the methods it uses
Mccabe talked about james coleys leadership of the bureau at a house hearing on the annual fbi budget. Texas congressman chairs this appropriations subcommittee hearing. Its just over an hour. Will come to order. The subcommittee is pleased to welcome today acting director Andrew Mccabe to present the fiscal year 2018 budget request for the federal bureau of investigation. The fbi is our premier federal Law Enforcement and investigative Intelligence Agency which makes headlines with cyber threats, espionage or international organized crime. The fbi leads into terrorism, counterintelligence, National Security outlets by combating gangs, financial fraud and Human Trafficking in public corruption. It is the indispensable partner to state and local Law Enforcement agencies and our liaison with the federal Law Enforcement partners. We are very grateful that the fbis leading investigations into the wednesday morning shooting, and we are deeply grateful for the work your officers do every day
Commission and Commodities Future Trading Commission talked about proposed budgets for their agencies. They were at a Sub Committee hearing for an hour and ten minutes. Good morning the Sub Committee will come to order. I would like to welcome our witnesses. Thank you both for being here. We look forward to hearing from both of you about the details of your budget reest requests. As members of this committee we have a responks blt to ensure the funds we see are spent wisely. Both are seeking increases for 2018. Requesting 242 million or 15 higher than 2017. The sec budget has grown to now 1. 6 billion. The cftc is requesting 281. 5 million. For comparison, the cftc was funded at 62. 7 million in fiscal year 2000. The budget now has reached at least 250 million. Access to funding does not necessarily ensure an agency will achieve its mission. You both have challenges. In the case of the cftc leasing costs and practices have raised concerns about effective management of federal funding.