Inflation numbers are up. Sharper than expected. You are looking at yields at tenyear at 2. 6 . We have news breaking overnight. Uk watchdog giving the green light to the microsoft 69 billion takeover bid of activisionblizzard. It removes the hurdle for the deal to close. The regulators said this deal would stop microsoft from locking up competition in cloud gaming and preserve customers. In a post on x, brad smith said we are grateful for the review and decision today. We crossed the final regulatory hurdle to close the deal to benefit players in the gaming industry worldwide. This has been one for the books. Saga that i dont think anyone was anticipating would go on this long. Given all of the regulatory hurdles. Maybe the ftc. And cma. There was a question of if they would ultimately approve it. 22 months. A long time coming. A lot of questions of what this means. Just about every deal will be questioned by the doj or cma. Microsoft took the extreme steps and saying we will do whate
Democracy. Next, the first public hearing for the impeachment inquiry into president by the House Oversight and Accountability Committee led by kentucky representative james palmer meant for nearly six hours House Republicans at the inquiry is focused on whether biden was involved in or benefited from his familys foreign business dealings. [background noises] [background noises] [inaudible conversations] [inaudible conversations] which members are waving . [background noises] a committee on oversight and accountability will come to order. I want to welcome everyone here today. Without objection the chair may declare a racist at any time. The first order of business is to welcome the return of eight eightmember to the committee. We went to welcome from michigan to the committee congresswoman has been a member of the house. [applause] since 2019. Before that she served 15 years the Michigan House of representatives but she is a familiar face to this committee as she spent her first two t
A third principle is judicial review. Here i would just remind the committee about the supreme courts decision in trump versus mazar. The court said about this committee that in fact it has to conduct the investigation for a legitimate purpose. A Fishing Expedition is not a legitimate purpose. Moreover, the court in the trump case it is not a legitimate purpose for the house or House Committee to be conducting the function of law enforcement. I heard many references here to criminal misbehavior, to whether or not somebody should be thrown in jail. Criticisms of a prosecutor, mr. Weiss. That sounds to me like an attempt to really substitute for the properly legitimate proceedings of the house. Two other safeguards real quickly. One is that these proceedings should be based on principle, not partisanship. I fear that what were hearing today, which can be traced back to 2019, and accusations made against mr. Biden are driven bipartisan animus more than principle. A final safeguard is for
Photography group can come to as well. Without objection, chairs authorized to clear recessed committee at any time. This hearing is titled the Federal Reserves semiannual Monetary Policy report. Not the most inventive title, but traditional. We call Humphrey Hawkins up. Without objection, all members will have five legislative days within which to submit extreme material to the chair for inclusion in the record. I will note the outset of this hearing has a hard stop at 1 00 p. M. , which we will strictly observe. The chair would further announce to Committee Members that the chairs intention is in the second week we return in july, well have a markup, and that markup will include two important bills. One is giving Digital Assets a Market Structure, and federal regulatory we met, and the second is a federal stable coin regime. It is the intention of the chair to have that as a, two pieces of our Committee Markup in the second week we return in july. I now recognize myself for four minu