Some issues regarding financial stability. Real domestic gross product went up to an average annual rate of and a quarter percent over the second half of last year. A faster pace than in the first half and during the preceding two years. Although real gdp growth is currently estimated to a pause in the First Quarter of this year, i see that it is mostly reflecting transitory factors, including the effects of the unusually cold and snowy winter weather. With the harsh winter behind us, many recent indicators suggested a rebound in spending and production is already underway. Putting the overall economy on track for solid growth in the current quarter. One cautionary note is that readings on the housing activity is a sector that has been recovering since 2011. Main disappointed so far and we will be watching. Conditions for the market continue to improve. The Unemployment Rate is 6. 3 in april, one and a quarter Percentage Points below where it was a year ago. Moreover, gains in unemploy
Well, you know, mr. Speaker, i think something that c. S. Lewis once said will help with that. He said if you read history youll find that the people who did most for the present world were precisely those who thought most of the next. It is since people who largely ceased to think of the other world that she have become so ineffective in our world. I think joni understands this. Her mind is truly set on another place. Her life has been extraordinary. So, again, on behalf of the house of representatives, id like to recognize and celebrate the life of jon jon tada, a tada of oni eareckson and i yield back the balance of my time. The speaker pro tempore the gentlemans time has expired. The chair recognizes ms. Bonmuchey for five minutes. Ms. Bonamici, for five minutes. Ms. Bonamici i call attention to historic legislation that has for decades served as a lifeline to our countrys seniors. The Older Americans act is responsible for Critical Services like housing, nutrition and employment a
Thank you, chair, for your presentations here today and the answers. I want to just ask you if youd be willing to step aside for a moment in terms of just responding in terms of representing the fed and give us some of your personal thoughts if you think its appropriate relative to a couple of well, this question in particular. As i travel throughout indiana and talk to businesses, large, small and everything in between so many of the c. E. O. s and owners of those businesses almost to a person indicate that theyre underperforming and theyre underperforming because of the uncertainties that they face relative to fiscal policies, relative to prospects of uncertainty about what their taxation is going to be and particularly regulatory policy. Now, essentially they say its a disincentive to the private sector Business Investment which as we know is the foundation of job creation. Your predecessor i asked your predecessor the question of whether or not what his opinion was relative to the
The u. S. To the downside by almost 3 . Macro data has largely missed today. Everything from China Services pmi to german factory orders. Our road map with alibaba. The ecommerce giant files for what could be the biggest internet ipo in history. A peek at chinas fast growing ecommerce market and one unusual company. Record earnings for disney. Frozen sales continue their hot streak. Disney chairman and ceo bob iger will join nous a cnbc exclusive. Shares of whole foods plunge down 17 this morning cutting their outlook, profit disappointing the street. Well hear from Ceo Walter Robb first on cnbc. Fed chair janet yellen will head to the hill about an hour from now. Is she going to move the markets . First up, alibabas filed for what could be the Largest Technology ipo in history. The offer could value the chinese ecommerce site at more than 100 billion, raise more than 16 billion which would top the amount that facebook raised at its 2012 ipo. Yahoo stake in alibaba worth about 26 billi
Pressure on longterm Interest Rates and support mortgage tokets and contributes favorable conditions in broader financial markets. Tool intant policy recent years has been Forward Guidance about the likely path of the funds rate. Beginning in december 2012, the committee provided threshold base guidance that turned on the bigger of the Unemployment Rate. The Unemployment Rate nearing the threshold that had been laid out earlier, we undertook a significant review of the Forward Guidance. While indicating that the new guidance did not represent a shift in the policy intentions, the committee laid out a fuller description of the framework that would guide its policy decisions Going Forward. Specifically, the new language explains that as the economy expands further, the committee will continue to assess both the the maximum unemployment and two percent inflation. Assessing the progress, we will take into account a wide range of information, including measures of the labor Market Condition