Transportation Authority Meeting for today, november 17th, 2020. Our clerk is ms. Britney milton. Ms. Millton, can you please make any announcements and then call the roll. Clerk yes. I will call the roll and then follow it up with my Public Comment announcement. Commissioner. Supervisor fewer . Supervisor fewer present. Clerk commissioner present. Absent. Commissioner mar . Mar absent. Commissioner peskin. Chair peskin present. Clerk commissioner preston. Supervisor preston present. Clerk commissioner ronen. Supervisor ronen present. Clerk commissioner safai. Supervisor safai present. Clerk commissioner stefani. Supervisor stefani present. Clerk commissioner walton . Supervisor walton present. Clerk commissioner yee. Supervisor yee present. Clerk im sorry . Ill now make an announcement oh, thank you. Commissioner haney present. I will now make an announcement about Public Comment. Public comment will be available for each item on the this agenda, via telephone by calling 415 655000 41
2012012 in the last phase of escalation between iran and israel. But i think the major reason right now is that they still have the support of the Trump Administration politically, but perhaps also operationally and they want to make it the israelis want to make it as hard as possible for president elect biden. To start negotiations with the iranians next year, and it ran has a valid to retaliate. What kind of form could that take . Or the iranians have retaliated in the past in 2012. I believe that the israeli attacks stopped when iranians and their allies, mainly Lebanese Hezbollah attacked civilian israeli targets, so that the Israeli Government decided that the price was too high for israeli civilians to pay for these s. S. Innovations. And i believe something similar might follow. The revolutionary guards might also want to attack American American or israeli targets. But in most cases, at least at western countries, they are too weak to target hardened. Well protected targets. Yo
So today, i have to tell you its a great honor for me to announce that my administration is issuing two groundbreaking rules to very dramatically lower the price of Prescription Drugs for the American People, especially for our cherished seniors. Were pleased to be joined on this occasion by secretary of health and human services, alex azar, and administrator of center for medicare and medicaid services, seema, thank you both. Thank you both. And thank you all for being here. I appreciate it. The unprecedented reforms were completing today are the direct result of the historic drug pricing executive orders i signed in july. Statutorily, we had to go through a very long process and we got it done. I was very proud to have gotten this done. We were pushing it very hard. As we did with the vaccines and other things. The first action will save american seniors billions of dollars by preventing middlemen, famous middlemen, they call them, from ripping off patients high Prescription Drug pri
So that is pretty evenly split, actually. Theres certainly quite a lot of recognition that Central Banks need to think about new toolkits. We are going to go to some questions now, but if you want. O use the platform to submit i think larry gave an excellent description of what the core problem is that the developed world faces, that there is a glut of saving and a , and it of investment really means that we have to have fiscal policy, structural policy, and things other than. Ust relying on Central Banks i think Central Banks need to do what can come about they can. Adopting a system called flexible average inflation targeting, i think this is an appropriate change. Somewhat improve the scope of Monetary Policy to show that shortterm Interest Rates are often constrained by the effect of lower bound. I think it is helpful in preventing a cycle of falling inflation feeding falling inflation expectations, but i strongly believe Central Banks need to be independent and need to do everythi
Gaining. It is time to admit that conventional wisdom has been wrong every step of the way. In this market, patience is not a virtue discipline cluster of fortune. Buying the most obvious stock, well, that has been a strategy that was easy i struggle about how this is possible i am not used to a mark that reward investors being late to the party. We found out moderna has a vaccine that may work better than pfizer. Thats getting off the table we got uncontrol spread over america. And mayors and governors refused to shutdown the bars and restaurants. Those are the main places we are getting infected no, it is at home, jim this pandemic is steam rolling us the prospect of a vaccine keeps on plotting it and shutting everything down. I am sure you are wondering, given the numbers that we see, how is that possible first every now and then there were moments that well stood on our head. Time like these is not sell. You must be willing to suspend judgment how far stocks can reasonably go. Than