Moreid things were much complicated because of the chinese. He also said the phase one deal on trade was a strong agreement. He expected to be implemented. Is he right. Is a good agreement . Us i am not sure it will be implemented. The world has changed a lot. U. S. China relations have changed quite a bit. Frayed, given that large tariffs have been imposed on china, and the campaign rhetoric, which is very , some of itst china very valid, like the actions in hong kong. On top of that, covid19 came along, which has made it difficult for china to implement this part of the trade agreement. It promised to buy 200 billion worth of products, agriculture, manufacture products and Financial Services and also opened up Financial Services. Is throwing the chinese economy as well as our economy for a loop. China will not be able to live up to its end of the deal. Onna wants to keep relations solid footing. That is part of why they have invited the secretary of state pompeo to meet with their to
I think Everybody Knows that. The impact is disproportionally on the poor and it could widen economic and equality, so something needs to be done. Government spending has helped but Public Confidence we key. You have to believe that you will be safe to go out. He says inflation will be low, and the fed has helped market functioning with its lending programs. They will keep buying agencies and treasuries, at the current pace, and then they will wind down with the crisis ending. The key point seems to take in the fact that we saw that amazing report today. He notes that with the easing of restrictions on mobility and commerce and the extension of federal loans, some businesses are opening up while stimulus checks are supporting households and spending. Oft said, he says the levels output of employment remained far below and significant uncertainty remains about the strength of the recovery. He underscores that we are committed to using our full range of tools to support the economy. If t
Chairman Jerome Powell will update the committee on Monetary Policy develop and the state of the u. S. Economy. It has always been four months since the last Humphrey Hawkins hearing, but we are seeing a different economy today. One that has been racked by the physical and Economic Impact of the covid19 pandemic, and ensuing shutdowns. Chairman powell, you have stated that the Federal Reserve is strongly committed to using our tools to do whatever we can and for as long as it takes, to provide relief and instability to ensure that the recovery is as strong as possible. Additionally, the fed has purchased more than 2 trillion in treasury and mortgage began ins since midmarch. Because of this, the Balance Sheet has expanded to more than 7 trillion. Congress, the administration, and regulatory agencies have taken action to protect and stabilize the infrastructure of our Economic System. The cares act has been central to that effort, and recent stats indicate that our labors are working. I
And allowing the government to negotiate medication Prescription Drug prices. And for residents and homers to stay in their homes during the pandemic. Live coverage of the house. The speaker pro tempore the house will be in order. The prayer will be offered by father conroy. Chaplain conroy let us pray. God, thank you for giving us another day. Those who omfort suffer from coronavirus. Healing. Bless and comfort those who mourn the loss of loved ones in wake of covid19. Psalmist, we turn to you. Have mercy upon us, o god, for treated harshly. Harshly all t us the day. Attackers. Re our almost high when we are afraid place our trust. We praise the word of god. Not fear. N god and do all the day our enemies foil our plans. Their every thought is of evil against us. Lie in wait for our lives. Our threats are many, o god. Unrest in Police Reform, aggressive russian and policies, a struggling economy. Our time of need. Bless the peoples house and may that is done be for your amen. R honor a
Its first threeday decline since early march. I wanted to focus on that. Month since 1987 in the month of april. Abigail something that can be so tricky, we have that huge decline down, a bear market, and then a rebound rally. Many thinking it is a bear market reflex rally. Not just these three down days, the worst since march 24. In the rally we have had recently, we are in the worst stretch, the longest stretch. When these turns happen, it is subtle. On top of these three down days is the fact we are headed to the thirddown week in a row. Last week and the week before, two down weeks. Inflection points and what can be a volatile sideways range is what we are setting up for this year given the uncertainty out there. Right now, there are some signals that we may be heading back down toward this years low. David thank you to Abigail Doolittle. For that report on markets do little for that report on markets. Abigail doolittle for that report on markets. We welcome libby control, head of