[indistinct conversations] good morning. In congress, and your recognize, my friend. Mr. Hill chairman mast, thank you. First, let me start out before i do opening comments and welcome our families and provide introductions for the family members who are here on this very tough, emotional day for them. And a quarter, her husband ryan is a humanitarian aid worker who has been imprisoned in afghanistan since 2022. He is the father of three kids and has been away for 600 days. Deborah, her son is a freelance journalist and was kidnapped in syria in 2012. This august will mark his 12 and hopefully final year away from home. My dear friend marion, her father is a texas psychologist who traveled to syria back in february 2017 to treat refugees and establish a clinic. A day after arriving, he was stopped at a checkpoint outside of damascus and has not been seen since. Giselle, her father jimmy is an iranian journalist and Software Developer who has been detained by the Iranian Regime since 20
Day ago, down 0. 4 . Two year yield still firmly above the 5 level on the week. You have a two basis point move lower on the day. However, again, we have the big meeting just two hours from now. 10 year yield has been above 4. 60 all week and now today even with a two basis point move lower, 4. 65. Banks soaring after posting better than execute results and exec it is outlining a goal of being better in 2025 following expected losses this year. It is surging now more than 31 . On the other hand, you have starbucks. Sales fell for the First Time Since 2020. The chain cut annual guidance for a Third Straight quarter, lowering its fullyear year Revenue Growth forecast to a low singledigit percentage. You have starbucks now plummeting about 17 . Back to the fed because the kkr cfo who i spoke to earlier today said he is pessimistic you can see any rate cuts this year. We are seeing goods inflation come down. We are seeing sheltered inflation come down. We are seeing Core Services inflation
Public service, along with these other television providers, giving you a front row seat to democracy. Federal reserve board chair Jerome Powell outline the Central Banks Monetary Policy before the Senate Banking housing and urban Affairs Committee. He also talked about the state of the u. S. Economy, inflation, Interest Rates, and bank Capital Requirements. This is to 15. Thank you, hows urban Affairs Committee will come to order. Give it again, you can certainly do that. The fed has immense power in shaping our economy. Your job is clear. Promote stable prices and maximum employment. Today, the cost of living is still far too expensive for most americans. The fed has only one tool available to fight those high prices. Interest rates. That tool does nothing to address the real cost, the real cause for why costs remain too high. Corporations price gouging to boost profits and make their shareholders richer. High rates dont force higher Interest Rates dont force corporations to lower th
Note at 4. 57 . Take a look at bitcoin we have been talking about it. It is at 61,645 it has not moved after the down swing. Somewhat steady this week pulling back from the highs. Lets talk about oil Biden Administration will not renew the license to ease venezuelan sanctions the Treasury Department issued a rehe he replacement license tody u. S. Says president maduro failed to compromise with the sanctions last year. We will discuss this on the Energy Market and crude prices backing off again. They started the decline down 1 this is actually a tricky situation that the u. S. Is trying to navigate not just with venezuela, but you want to impose your policy pressure on the regime, but not restrict the Global Supply iran selling mostly to china trying to do two things at once and not compatible you have to keep the oil flowing. Micron technology is expected to receive 6. 1 billion from the chips act to pay for the domestic factory projects according to the bloomberg report it is a mix of
Cvs has announced plans to purchase aetna. Cvs has a mass tive footprin across our region. 65 stores in the city of philadelphia alone and they are in virtually every town in southern jersey and northern delaware, too. But now this megapharmacy chain wants to do much more than just sell you shampoo and fill your prescriptions. Cvs storefronts like this would become the front doors to patients entire health care experience. A onestop shop for all types of medical needs. For regular customers like bob reinhart, this sets off alarms about fair competition and fair pricing. Too many businesses buying out other businesses and becoming controlling everything. Reporter cvs 69 billion acquisition of aetna, they plan to add more medical Services Inside cvs stores and get more involved in managing patients conditions. According to this health ceo this morning. The next step is executing and beginning the integration process. They can go way beyond dispensing medications. They can broaden their s