Field . On a number of occasions we have issued public statements and communications to our supervisory group. We dont want to be on a hair trigger to classify loans or call them loans or anything like that. We want to look at this as an unusual situation and be flexible and thoughtful about the way we do our jobs. Of course we havent been really supervising. Were only starting to supervise again. At the fed were going to do it remotely. Were not going to be visiting yet but that time will come i think fairly soon. But were doing training for our supervisors and things like that so we want to be we have also by the way, we have encouraged banks to use their buffers. And in a similar way that Mortgage Backed securities can. Do you think that the threat of clo is properly accounted for and can you discuss how the fed has been monitoring this risk . And thats not the case. We have really good information. We include them to the extent and we include them in our stress tests and we stress
Saying he plans to pull funding from the organization well tell you what thats all about all right its time to boost your news i q. Mark over 1000. 00 continues to live up to its name as a Global Pandemic the total now topping 1400000. 00 cases with 83000. 00 deaths and some 300000 recovered cases and the u. S. Still leading the way now with 400000 confirmed cases and 13000 deaths and about 22000 people have recovered now a new report shows between just yesterday and today more than 1900 americans have died because of this virus that is a new one day high now take a look at this chart here it shows. Just how quickly the outbreak has gripped the nation now the number of infections in the u. S. About a month ago about a 1000 people and today that number up a staggering 400 percent so with millions of americans staying at home to flatten the curve imagine if you had Internet Access during your quarantine well for one thing you probably would be able to watch this broadcast and more import
Order. Without objection, the chair is authorized to declare a recess of the committee at any time. This hearing is entitled Monetary Policy and the state of the economy. I now recognize myself for four minutes to give an Opening Statement. Id like to welcome back chairman powell. As i discussed earlier, and at our last hearing with you, i remain very concerned about the president s efforts to interfere with the feds independent Monetary Policy. A recent news story noted that trump has tweeted over 100 times about the fed since your nomination. Many of those tweets appear to be attempting to exercise pressure on the fed. Chairman powell, you and the fed board of governors must not be swayed by these aggressive tactics in upholding the feds independence you should be mindful of public perception. Of course, trump continues to try to claim credit for Economic Growth that was put in motion by the policies of president obama Congressional Democrats and the Federal Reserve, irresponsible tr
Out 22 higher majorly underperforms the u. S. Peers ending more than 7 lower. Bye bye 2019, a new decade is upon us as big ben prepares to ring in the new year in style. Welcome to street signs. Our top story today, former nissan chairman ghosn has fled japan for lebanon. He was banned from traveling abroad in a statement, ghosn said, he had, quote, not fled justin but fled injustin and political persecution. A loyal said he was surprised by the departure and called ghosns actions inexcusable and there is a high probability he violated his conditions he said he has not spoken to the police or ghosn himself. This is his actual lawyer in japan. Further more, he said the lawyers still have all of his passports. You have to wonder how on earth he made it out of japan to lebanon. One of the press companies there are citing that he may have hired a private company and indeed a private jet landed in beirut airport coming from turkey when it comes to next steps and what this means, clearly hes
Nominee for the Federal Reserve. To be exact. [gavel] mr. Crapo this hearing will come to order. This morning we will consider the nominations of the honorable judy shelton to be a member of the board of governors of the Federal Reserve system. And dr. Christopher waller, to be a member of the board of governors of the Federal Reserve system. Welcome and congratulations to each of you for your nominations. I see friends and family in the room today and i welcome them as well. Were fortunate to have these two highly qualified nominees appearing today. These positions are critical to ensuring a safe, sound and vibrant Financial System and a healthy, growing economy. The Federal Reserve was created by congress as the nations central bank to promote a stable economy and a safer, more flexible Financial System. Among the Federal Reserves responsibilities is conducting the nations Monetary Policy with the mandate of promoting maximum employment, stable prices and moderate longterm Interest R