[ gavel ] and i guess the the subcommittee will come to order. Without objection the chairs authorized to declare recess of the subcommittee at any time without objection. Members of the full committee not on the subcommittee authorized to participate in todays hearing. So long as they participate virtually and will be recognized after members of the subcommittee are recognized. Members who are participating via webex platform reminded to keep video function on at all times even if not recognized by the chair. Members participated by webex platform also reminded they are responsible for muting and unmuting themselves. And they should mute themselves both before and after the time that they are allotted. But in addition to that, consistent with regulations, the company and accompanies each res 965, staff will also be muting members when they are not recognized. Members are reminded that all house rules relating to order in decorum apply to this hybrid hearing. In addition, the chair inf
To disneys streaming kit abilities. Disney is down 1. 7 now. Guy here in europe, it is unsurprising we are seeing a reversal. Marketse peripheral really taking it on the chin after the rally we saw yesterday. The stoxx 600 down 0. 8 . Byrids overbite is down over 3 . You are continuing to see a bid on btps, which is fascinating. Massive move yesterday on the plan announced out of paris and berlin come up in chile to allow burden sharing in europe. A huge rise about in jobless and the u. K. That makes you wonder what happens when some of the Government Schemes start to roll over, and potentially millions market added to the unemployment roster. It is a very disturbing number to have to deal with. We do have some news on paris, potentially providing some clarity for the post frexit u. K. Thein the postbrexit regime here in the u. K. Vonnie fed chair Jerome Powell and the treasury secretary testifying before congress. We will bring that to you when it happens. We got numbers from kohls an
To this virtual hearing the honorable steven mnuchin, secretary of the department of treasury and the honorable jerome powell, chairman of the board of governors of the Federal Reserve system. We will receive testimony from the secretary of the treasury and the chairman of the Federal Reserve as required under title iv of the cares act. Congress has appropriated 3 trillion to protect and support americans to fight the pandemic and also to stabilize the infrastructure of our economic system. A large portion of this funding is authorized under title iv of the cares act which provides resources for loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and programs in support of eligible businesses, states, municipalities, and tribes. Title iv of the cares act provided 454 billion as an infusion into the Exchange Stabilization fund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketpl
We will receive testimony from the secretary of the treasury and e chairman of the Federal Reserve as required under title iv of the cares act. Congress has appropriated 3 trillion to protect and support americans to fight the pandemic and also to stabilize the infrastructure of our economic system. A large portion of this funding is authorized under title iv of the cares act which provides resources for loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and programs in support of eligible businesses, states, municipalities, and tribes. Title iv of the cares act provided 454 billion as an infusion into the exchange stabilizatiofund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketplace and support eligible businesses, states, governments, and tribes. This unique authority known as 13. 3 authority is authorized under section 13 of the Federal Reserve act and plays a Critical R
[inaudible conversations] we are going to get started. Thank you. Good morning. The hearing will come to order. I thank everyone for joining us this morning and i want to especially thank my colleagues for joining us today for the House Committee on business hearing the response to covid19. We have had a hard stop act once again. We will move as quickly as we can but should we not be able to accommodate every member in person today, we will be accepting statements for the record until thursday, april 30. This important hearing i want to mention the chairwoman has been in our thoughts and prayers we wish you nothing but the best as you recover. Small businesses and entrepreneurs play a Critical Role within the american economy. Not only do they employ half of the nations workers but created two out of every three new jobs in the nation. You only need to take the poll from main street america. It is demonstrated Small Businesses and employees and the Response Congress created with a Payc