Are on the coronavirus. As you know, there are over with the democrats now making the same presentation. With regard to our role here in congress we are very optimistic that we will come together on a bicameral, bipartisan basis with a package, something may have happened in the last hour, im not familiar with but i think we are on the way to getting that through the house this week and with cooperation could get it through the senate as well. We have an energy bill on the floor and it is open for amendment and hopefully we will be able to have a regular amendment process. I think this is a bill that has been languishing for several congresses and theres a lot in there that would be good for the country that had been added to the bill in committee by both democrats and republicans and we hope to be able to move that across the floor as well and as soon as possible. As we all know americans have been affected by the coronavirus in a very direct way and we have six now deaths in this cou
Legacy energy source. Senator udall of new mexico and i have an amendment that will close a loophole in federal Energy Policy. I want my colleagues to know, and i think they do, of my long support for renewable and alternative sources of energy and so i agree with the aims of the murkowskimachin murkowskiy bill. The amendment that senator udall and i have introduced is the same as the bipartisan bill we introduced last week. The title of that bill is the fair return for public lands act. Mr. Grassley this bill was introduced 100 years to the date of the mineral leasing act of 1920. This amendment would increase the royalty rates on federal lands from 12. 5 to 18. 75 . Everybody here knows that a royalty is what the oil company will pay to a mineral owner. In this case the mineral owner is the american taxpayer, and that royalty is paid for the right to extract oil and natural gas from the lands of the United States. The legislation modernizes the public lands leasing system and it does
This year whats happening is fear. Fear of the unknown is this virus controlled whats going to happen. So were kind of in that middle stage right now of we dont really know the answers of controlling the virus, how its going exactly affect the economy right now theres little effect but everybodys very fearful and thats where seeing a big drop in the market, but you know weve weve been there before. Weve had a lot of healthcare arrests. You know from aids all the way down to even measles sandwiches an epidemic you dont hear about that. But the saw going on right now so 10 drop us what we call a correction and thats 10 off the 52 week high. And if we get into 20 off the 52 week high. Thats bad thats a bear market, but you may have forgotten about this but in 2018. The last 3 months of the year the market tanked we were down 20 on the s p 500 just a hair above 20 . So were in correction bear territory. And what happened we just kind of remain calm and then in january the market picked up
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
The pharma giants ceo joins us live and a big downgrade for one of the big streaming stocks we will debate in call of the day. The Investment Committee is ready to go. The Halftime Report starts right now. Welcome. Good to have you with us on this monday our Investment Committee, joe tear nova, josh brawn, steve wise brand and rob seechin. Lets begin with the markets stocks at session highs. Dow going for its close above 29,000 all this in what is a critical we can expectations are high. Positioning is pull bullish. The numbers better live up dont you think . Numbers i think will in certain instances have to meet high expectation i agree with that, scott but it seems we have rolled into 2020 and not much changed from 2019 you have been able to disburse allocations a little bit outside the u. S. Chinese equities are off to a strong start the iem both of those performing well. We are in earnings season. I think the pressure is on Financial Institutions more than any other sector i agree