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 Department, under secretary mnuchins leadership, has mapped out point by point and rolling back many of the Critical Reforms demo
We take you to capitol hill for a House Oversight hearing on the Economic Impact of Climate Change under way. There are several reasons the on as a consequence it undermines the american people. Let me list. One, in 2018, the Trump Administration instituted a smaller social cost of carbon of 1 to 7 compared to 50. Its based on two faulty assumptions. First, it uses inappropriately high discount rates that are not supported by economic theory or Financial Markets. Second, it fails to account for damages that occur outside the United States. This failure discourages other countries who in total produce about 90 of total co2 emissions from undertaking emissions cuts that would benefit u. S. Citizens. The United States special role in global democracy can produce demonstrable benefits for u. S. Citizens, and we are failing here. The absence of meaningful progress at the recent madrid climate talks is evidence of what happens when we retreat. Number two, the social cost of carbon is no long
Health secretary ben carson joining the conversation at the white houses Mental Health summit. Iftrying to figure out everyone is together. Let me double check. We are going to get started. The subcommittee hearing will come to order, without objection, the chair has authorized the committee sometime. This briefing extension of several herrings we have had, discussing Climate Change. We are focusing on the Economic Impacts of global warming. I will defer the Opening Statement to myself. When we spoke earlier in the holding area, i mentioned the fact that we would be trying to do a hearing. This is a briefing. We do have time for your Opening Statements. What i would like to do is afford each of you the opportunity to do so. Let me introduce the four of you and then we will move to you, mr. Gomez. , governmented gomez accountability office. Dave jones, senior director for environmental risk. Dr. Michael green zone, distinguished professor of economics at the university of chicago, and t
The latest. Dani definitely a mixed session. The stoxx 600 down. It is a macro heavy trading day between the u. K. Election, Central Bank Decisions and that the tariff deadline, we have traders on the sideline. Expandedy has really for sterling. Cable down about 0. 1 , but still trading at that 1. 31 handle. This is a conservative government priced in. Upside is really limited. We have seen sterling fall after the poll showed the conservatively it cut by about half and the concern is the Hung Parliament that would throw into concern the outcome of brexit. Some strategists have said that sterling may fall as low as 1. 22 if we do get a Hung Parliament. Brent down about 0. 5 tonight. We are seeing brent trade just under 64 a barrel. The aramco ipo hitting the 10 limit with shares surging so far today. Looking at some of the individual movers we have seen in the market. Jd sports is one of the biggest lacquers in the stoxx 600 laggers in the stoxx 600. Its biggest shareholder sold 2. 4 of
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 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 made to prevent another financial crisis. If these rollbacks continue, there will be grave consequences for Financial Stability in our economy. The 2008 financial crisis was devastating for our nation. 11 million americans lost their hom