[gavel] committee will come to order. Without objection the chair to declare recrest of the committee at any time. This hearing is entitledle policy and the state of the economy. I now recognize four minutes to an opening statement. Today we convene on Monetary Policy and the state of the economy. Chairman powell, welcome back. Oday i would like to start by addressing the current elephant in the room when it comes to policy and the fed. This president has made it clear or he has no understanding respect for the independence of the Federal Reserve. Doesnt d the fed, have a clue. Most lled at this time difficult problem for the u. S. Hes ing to media reports discussed firing chairman powell just as hes fired others he with. Not agree lets be clear. It is essential that the federal maintain its executive e from the branch. So i urge chairman powell and other Federal Reserve board overnors not to submit to the High Pressure tactics of this president who continues to push economic nd harmfu
And the state of the economy. The committee will come to order. The chair is authorised to declare recess at any time. This hearing is called Monetary Policy and the state of the economy. I would like to start by addressing the elephant in the room. This president has made it clear that he has no understanding or respect for the independence of the Federal Reserve. Doesnt fed, have a clue. Most lled at this time difficult problem for the u. S. Hes ing to media reports discussed firing chairman powell just as hes fired others he with. Not agree lets be clear. It is essential that the federal maintain its executive e from the branch. So i urge chairman powell and other Federal Reserve board overnors not to submit to the High Pressure tactics of this president who continues to push economic nd harmful and social policies. Another issue i hope chairman powell will address is facebooks recently announced with 27 other crip toe to develop a currency and digital wallet. And others have raised
Billion of e. U. Products. Hong kong protest take a violent turn. The government commends vandalism. News out ofing south korea. We are getting Consumer Prices for the month of june year on 0. 7 . Ricing this is as much as it rose back in the month of may but also slightly disappointing yeartations of a 0. 8 rise on year. Month on month, it contracted zero point 2 , which is a bigger contraction as expected for the month of june. We have seen a lot of pressure for Consumer Prices. We are talking about lower oil prices. Brent crude prices down 20 on average in the month of june compared to one year earlier. Not to mention the domestic demand in south korea is pretty weak at the moment. The bank of koreas signal we will probably miss the forecast of 1. 1 inflation in 2019. Pretty far away from the 2 inflation target for the bank of korea. We can see proof that inflation and theions are low inflationary pressures are low. Gaining onlyr cpi 0. 7 , missing expectations. s ctia gaining only
Peace plan his son in law launches it in bahrain. Just as our protest against it in the gaza strip and the west bank. Iran says it will further free itself from the twenty fifteen nuclear deal in defiance of new american sanctions. This comes as us President Donald Trump warns a round of overwhelming retaliation for any attacks. The wave here in france off the country is on orange alert the second highest temperatures are set to hit forty degrees later this week. Thank you very much for being with us. The first phase of the us President Donald Trumps middle east peace plan has been officially launched in bahrain representing trump out the workshop as the cold in bahrain his son in law. Jared kushner he said that. Agreement on economic pathway is a precondition for middle east peace. By direct message to the Palestinian People. Is that despite with those who have let you down in the past tell you. President trump and america have not given up on you division we developed and released. I
Time as are not very. Well i guess its time to find out whats happening in the big bad world lets talk with stacy hey you know 1st i want to say that we are going to go on our Summer Vacation so you will see some Summer Solutions pretty soon and were planning those and those are looking really good just a little housekeeping for those out there but i want to look at this headline to set up the other headlines in this article and this is something that we have been saying for 10 years is that you know its a its a game of capital versus labor privileged by the Central Banks versus everybody else and theres no headline but this and this is from last week and but its really relevant to my headlines today stock market jumps as disappointing jobs report fuels hope for fed rate so theres a real conflict between the needs of the wall street speculators and the rest of the population youve said this before is that you know anything any time is good for the worker is bad for wall street so weve