Welcome everybody. ,oday our select subcommittee some members will appear in person and others may appear remotely. Since some members are appearing in person, let me remind , all individuals attending this hearing in person must wear a mask or face covered. Ing. Over members who do not wear a Face Covering will not be recognized to speak. Let me make a few reminders about hearings. For those members appearing in able to seewill be members appearing remotely on the monitors in front of you. On one, you will see all the members appearing remotely at as gradehat is known view mode grid view mode. On the other monitor you will see each person speaking during the hearing when they are speaking, including members who are appearing remotely. For those members appearing remotely, you can see each person speaking during the hearing whether they are in person or remote if you have your web app set to active speaker mode. If you have any questions about this, contact a member of staff immediatel
August and a different first of september that has transfixed the nation. In the markets, there is no question i am looking at a weaker dollar today, a profoundly weaker dollar. Text still lifting. Francine the weaker dollar also giving a lift to commodities. A full roundup of the asset classes. To the bloomberg first word news. Ritika President Trump President Trump claims a man arrested for killing two people in wisconsin was acting in selfdefense while simultaneously criticizing the killing of one of his supporters over the weekend. Joe biden flipped to the republican slogan that nobody is safe in joe bidens america, he said the president cant stop the violence because for years he has fomented it. J. P. Morgan chase says investors should prepare for the chance President Trump gets reelected. The bank took a look at polls and estimates there could be a shift of up to 10 points from democrats to republicans if the protests turn from peaceful to violent. The pandemic has created tons
After the ecb announcement and it has been quite choppy in the u. S. , equities are now lower. All three indices are down. The dow and s p down by. 4 , nasdaq down. 1 . The 10year yield at 70 basis points. Little movement but enough to show there is some kind of reaction. The euro continuing to strengthen. Above 118. We will stay on the euro. Surgeine lagarde say the in currency must be monitored. That only called for the european to strengthen further. Our first guest is lena komileva. A lot to unpack out of the meeting but how is the european economy doing . Economy wasropean recovering quite strongly from the effect of the lockdowns. It is the balance effective switching on and switching off and on an entire continent. Whilst important is that a lot of the conversation is about the top figures, which did recover quite strongly in the early months after the lockdowns, we had quite a great divergence between the sectors. Those most affected by social distancing are lagging behind but
Wisconsin protests. World Central Bank Leaders coming together virtually, Federal Reserve chair jay powell speaking at key economic conference and investors closely watching what he has to say. Ahead of the speech, few hours are lower. We are taking a look at decline at start of trading. S p and nasdaq hit record highs again yesterday. This morning dow futures down 88 points. Mornings with maria live right now. Global markets this morning are red across the board. Take a look at european indices, the cac quarante down 31 and the dax index lower by 52. In asia overnight markets mostly lower, worst performer was korea down more than 1 . Top stories that we are watching this morning. Night 3 of the Republican National convention honoring americas bravest, devoting their lives defending our freedom. Since 9 11 ive seen americas heros up close. Some of them saved my life. Service, its more a word to me, its a way of life. Maria meanwhile mike pence touting President Trumps economic success
Small and mediumsized businesses that were in sound Financial Condition before the virus impact of the economy we will hear from the head of the fed in boston and banking and business leaders. Will come tog order. This is a hybrid hearing meaning some of our commissioners are appearing in person and witnesses will testify remotely. Let me offer a few Video Conferencing reminders. Before you start speaking there will be a slight delay before you are displayed on the screen. Click the mute button until your turn to speak or to ask a question. If there is a technology issue, well move to the next speaker until it is resolved. You should all have one box on your screens labeled clock to show you how much time is remaining. Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As a part of our oversight work, the commission has decided to hold