Friday night and you hand out the work product for all the members of the senate to take a look at before they vote on changes in the tax code that will affect the people they represent. This is what happens. 479 pages were handed to us. They tell us some of this has been around for a while. Some of its new. They dont tell us which part is new and which part is old. But, lucky for us, on k street, and there is nothing wrong with lobbyists, but on k street where the federal lobbyists live, they are following this really closely and they have given us basically a cheat sheet. A score card. So we can figure out at least generally speaking how many changes have been made in the 479 pages since the last time we aw this proposed bill. Now, i defy any member of the senate to stand here and take an oath that they have read this and understand what in the world it means to businesses and families and individuals. If they want to take that oath, and maybe some will, then i refer them to, ladies
These are folks that have been in our schools and know our kids and are beloved, and im excited to help support them through the program. Im also excited about the cohortive teachers of color. I had the opportunity were you with me on that, mark . We went to the reception for the teachers of color, and it was just really great to that we have a targeted team that really seeks out our teachers of color. Im curious about San Francisco state. In the past, theyve been kind of our largest resource for recruitment and just wondering how if we still have a strong relationship with them. Im seeing that were working with other universities, and just wanted to check in with them i mean, with you on them. Yeah. Great. San Francisco State is the largest partner in our ihe, our network, and we do make a point of meeting with them separately, as well, because they are a critical partner in filling a lot of our positions. So one of our initiatives that were working on now is being more strategic in h
That would like to address the commission . Seeing none, well close public are we ready . Closed session, is there a motion not to disclose . I will make the motion. Is there a second . Second. Can we take the item without objection . Item passes. Mr. Secretary, next item. General floor comment. Before we go general Public Comment, i want to make a quick announcement. I think there was confusion as to the agenda on todays meeting. Theres nothing today on fossil fuel investment. That meeting is on the 24th, as posted on the website. We apologize for any confusion. First, john furland. Two or three minutes . Two minutes. I wanted to comment on the ci reports. There was a great start in the absolute return section of the report. Im happy because ive supported that for almost three years now. Secondly, theres nothing in the report on well, one phrase on risk. And so, were in the middle of an extremely complacent meltup phase, which Jeremy Graham just wrote about. Nobody knows the results.
Outlook for the economy is strengthened since december. Greater confidence that inflation will rise. Additional headlines, mike and morgan, about nbs, the agree to which they were a success says the new normal for a Balance Sheet to be around 2. 5 to 3 trillion and the emphasis by powell on the strength of the economy, the tail winds, the fact that perhaps the low inflation is transitory that was a take away too in response to representative maloney, she asked if were on pace for three rate hikes . He said well see over the next couple weeks what is submitted in terms of projections. But since the last round, you see continuing strength in labor market stronger economy, signs that inflation could be moving closer to target. More stimulative physical policy thats really when you saw markets begin to move lower. Lets bring in our senior economics reporter Steve Liesman who can help us understand what this may mean for the march meeting as we watch the odds closely today, steve. Good poin
Committee will come together without onbjection. This hearing is for the purpose of receiving the semiannual testimony of the chair of board of governors of the Federal Reserve system on Monetary Policy and the state of the economy. I recognize myself for 3 1 2 minutes to give an Opening Statement. Not with standing the greatest monetary and fiscal stimulus, the economy limp aid long for eight years averaging 1. 6 gdp growth. Wages remain stagnant and failing since the 2008 financial crisis. New phrase by leftleaning academics in an attempt to rationalize the phenomena namely secular stag nation. Far more descriptive phrase is high taxes and heavyhanded regulatory policy. Fortunately with the election of donald trump and passage of tax cuts and jobs act that has all changed. Employment is now at a 17year low. Wage growth is the fastest in companies all over america are anow ns bonuses to employees and skpap expansions in their communities. Economic growth is averaging 3 . There is grea