Cspan is your unfiltered view of government. Were funded be by these Television Companies and were including buckeye broadband. Buckeye broadband supports cspan as a Public Service along with these other television provers. Giving you a front row seat to democracy. Republican congressman Patrick Mchenry of north carolina, chair of the House Financial Services committee, spoke about the collapses of Silicon Valley bank and Signature Bank last year, two of the largest Bank Failures in u. S. History. Congressman mchenry discussed the role of the Federal Reserve and federal Deposit Insurance Corporation Bank Regulation and Risk Management. Thisookings institution. Q3 david good morning, everybody, im director of financialhere a. Id like to welcome you to this event, both the people in the room and people watching remotely. Our subject today is what lessons we have learned from the really interesting episodes of march, 2023. A year ago the Global Financial system sthiferred most significant
Outlined at the Central Banks Monetary Policy before the Senate Banking housing and urban affairs committee. He also talks about the state of the eco inflation, Interest Rates and bank Capital Requirements. This is two hours and 15 minutes. If you would like to give it again you could certainly dor that. The fed has power in shaping our economy. Your job is to promote stable and maximum employment. Today the cost of living is still too expensive for most americans. The fed has one tool available. That tool does nothing to address the cause for wide costs remain too high. Corporations price gouging to boost profits and make the shareholdersrs richer. Higher rates of doomed force, higher Interest Ratesont ons to lower but high Interest Rates are rising housing costs hindering wage growth stifling Small Business that. Now is the time for the fed to decide whether its going to make good on its commitments into families by lowering Interest Rates and the Financial System from wall street ex
The s p hitting another record high yesterday. The 16th of this year. The s p futures indicated up 12. Dow futures indicated up 27. Nasdaq futures are indicated up, too. This comes after gains for the s p and nasdaq of more than 1 . Pushing both indexes to record highs. Dow closing higher. It was up 130 points yesterday. A lot of this came after what we heard from jay powell. He was speaking again before congress and yesterday he said this is key. Yardeni pointed this out. Powell said we are waiting to become more confident that inflation is moving sustainably at 2 . It will be appropriate to dial back the level of restrictions. That is what the market heard. Not far from it. As a result, you saw treasury yields pull back. The tenyear yield at 4. 07 . The twoyear yield at 4. 49 . It is interesting because it is all based on inflation. We havent even any definitive proof that the economy is going to fall off a cliff. Maybe we can get that today. Maybe he knows something. When he said we
Good friday morning to you. 6 00 right now. Thanks for starting your day with us. Im laura garcia. Im marcus washington. Lets get you caught up on whats happening weatherwise. Meteorologist kari hall has a look at a beautiful forecast. Yes, its a clear start. We can see that in the live camera over san jose behind us and a smaller view of that frame there, as our temperatures start out in the mid40s. It is in the upper 30s in dublin right now, and were also seeing mid40s in San Francisco, a few clouds moving by now. But we are headed for sunshine again today, and a look at our highs that will reach into the mid60s this afternoon. 66 in hayward and 68 in san jose. And some mid60s for much of the south bay into the east bay. But then tomorrow, slightly cooler. More clouds coming in. The north bay will have spotty showers. Mostly late morning into the early afternoon, so ill be tracking that and talk about whats ahead for the rest of the weekend. Mike, you have one crash now in the east b
We will come to order. The tears authorized to had to recess at any time. This is the Federal Reserves that are annual monetary report. Without objection, all members have five days in which to submit extraneous materials for inclusion in the record. I will note at the outset, we have a hard stop at 1 00 p. M. To the observed. I see chairman powell smile. Thats three hours. I will know recognize myself for the opening statement. In june of 2023, the conversation in washingtons concerning inflation shifted significantly. Not because of the lectionary fire has been extinguished. From the most recent data available, food cost is up 21 as President Biden took office. Energy costs are up more than 32 . Shelter costs are of more than 19 and you will pay 37 more for a dozen eggs in america today. As we said in january, people are still paying more for the basics of life and the prices they are paying are still high. And they arent happy about it, as you know, it is our colleagues know. But ac