Mnuchin testifies about the u. S. Economy. He also talks about Digital Currency and the potential impact of Climate Change. Waters the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations deregulatory approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 00 per the request of the p. M. Secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchin. Today, we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As i have said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following the deregulatory blueprint that the Treasury Depar
C the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations deregulatory approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 00 p. M. Per the request of the secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchen. Today we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability. As i have said many times before, i am very concerned about this administrations actions to eliminate important protections for consumers, investors and our economy. It appears that our banking regulators are following the deregulatory blueprint that the Treasury Department, under secretary mnuchens leadership, has mapped out point by point and rolling back many of the Critical Reforms democrats
Expenses. Regulatory and privacy pressures mount. Dar p china spoke on alphabets ceo spoke about this. The momentum has been great. Ever since thomas has come in, he has continued to invest across the board. Focused a lot on operational teams. It is playing out well in this business. To be inortant for you as many situations as possible. Nejra joining us now is bloombergs opinion tech columnist and Marija Veitmane from state street is still with us. Before this release, alphabet shares had hit a record. How concerned are investors going to be about this latest news . People are fundamentally investing for growth. There was a bit of dip in aftermarket trading. The cloud is becoming a very contested space. We saw pretty much the same from amazon last week, that they are also investing to defend their market share. Investing tole is secure their market share. They do Something Like 8 billion per your revenue from the cloud. Amazon doesnt 9 billion per quarter. Doesan see that amazon 9 bil
Capitals and the Foreign Ministers i have been speaking to. They want to see a no deal avoided. Saudi arabia say that they have evidence that iran is behind attacks on oil installations. Our security correspondent is at the scene. Coming up on afternoon live all the sport with gavin. Rugby world cup under way with japan facing russia in opening game. Yes, japan yes,japan are off yes, japan are off to a fantastic start, a straightforward win over russia. We have an update on that and of course the home nations. Thank you. Another dry day coming up for many of us on saturday, a slow slide into marek, settled conditions on sunday. And we will be look at what has been happening in the us where a tropical system has been working in. Nota where a tropical system has been working in. Not a hurricane, for most of its life not a tropical storm, but it has already brought so much rain in that it is one of the top five wettest systems ever in the us. We will take a look at that. And also. Also co
Lets check in on your markets and see how things are doing in terms of yields. You can see the u. S. 30 year yield coming down further. 1. 96 . Yield at. 98 . R i feel like i must be seeing something wrong because that would be insane. It is actually 1. 47. Im sorry, italy, thats what got me off track. I thought i was looking at u. S. Treasurys, that would be nuts, dropping 50 basis points in minutes. That is the italian 10 year coming in below 1 . With stocks opening down and turning higher after we had some positive trade comments out of china. Lets get first word news in new york. We begin in italy, where conte will get a mandate to form a new government after the former alliance collapsed in chaos. The new administration will include the fiveStar Movement and the democratic party. Those rivals have little in common other than a desire to avoid an election. Country isa, the looking to extend maturities on over 100 billion of debt. They want to delay repayments to the imf after a col