The Coronavirus Relief packages passed by congress. Good morning. I call this hearing to order. Without objection the chair is authorized to declare a recess at any time. I want to thank everyone especially our witnesses for joining us today for our committees hybrid hearing. I want to make sure to note some important requirements. Let me begin by saying that standing house and Committee Rules and practice will continue to apply during hybrid proceedings. House regulations require members to be visible through a video connection throughout the proceeding. So, please, keep your cameras on. And remember to remain muted until you are recognized to minimize background noise. In accordance with the rules established under hr965, staff have been advised to mute participants only in the event there is inadvertent background noise. For those members here in the room, i urge members and staff to wear masks while in the hearing room and i thank you in advance for your commitment to a safe enviro
I want to make sure to note some important requirements. Let me begin by saying that standing house and Committee Rules and practice will continue to apply during hybrid proceedings. House regulations require members to be visible through a video connection throughout the proceedings. So please keep your cameras on. Remember to remain muted until you are recognized to minimize background noise. In accordance with the rules established under hr 965, staff has been advised to mute participants only in the event there is inadvertent background noise. For those members here in the room, i urge members and staff to wear masks while in the hearing room. I thank you in advance for your commitment to a safe environment for all here today. Secretary mnuchin, administrator carranza, thank you for being here today. Let me start by saying, i want to give a sincere thank you of to all of the staff of both of your agencies who have worked tirelessly over the last few months responding to the crisis.
Suffering a record drop. Earning season is in full swing. Pharmaceutical giant merck topping estimates but cutting its guidance as the coronavirus pushes the rest of its portfolio to the sideline. The ceo ken frazier will join us for an exclusive interview in just a few moments kelly. Looking forward to that. Health care and tech are two of the stock sectors leading stocks lower today. Lets get to bob with a lot more for us just the fact were up three points on the s p is remarkable. This is the second day in a row this has happened. I cant remember when but were down 1 or 2 on all the big names. Microsoft and apple, google and amazon look at all those stocks down. The s p is still up 3 the reason were up is because banks and industrials have helped out today look at these industrials. 3m is seeing growth in some of the safety the blue angels just flew over theres a big roar outside pepsi, xerox, u. P. S. , Harley Davidson withdrawing guidance. Here is a list of the companies withdrawi
American doctors signal caution. This morning the w. H. O. Tries to clarify. Breaking point fire 7 tablet. Class of 2020, congratulations one of the countrys biggest guys, this class in a way was born to be together and to be strong they were all born right a meat processors said the supply lot of them right after 9 11 chain is on the brink. Happened so they all feel this sense of community and just a great group just ahead the new warning to of kids. Brace for limited amounts of were really thrilled. The producer put that together, beef, chicken and pork in Grocery Stores from coasttocoast just a really sweet group of dead or alive. Speculation mounts overnight kids. Over the status of kim jongun after he misses another major they seemed like they were event. Doing service from the north koreas leader not seen publicly in more than two weeks. Well have the very latest in a live report. Stir crazy. This is something i dont think anybody, even our grandparents, can relate to in their li
[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