Her term ands in february. Inwhen her term ends february. The committee will come to order. The chair is authorized to declare a recess of the committee at any time. Members will have five legislative days to submit extraneous materials for the record. This is the purpose of receiving the semiannual testimony of the chair of the board of governors of the Federal Reserve system on Monetary Policy on the estate on the state of the economy. Recognize myself for an opening statement. Since we last convened on Monetary Policy, there have been encouraging economic headlines. Onfidence is up unemployment remains low, as does inflation. But it rests too much on incredibly low participation payment high disability participation rights. Both paychecks and savings for working Americans Still have room to grow after eight years of distortionary Economic Policy under the Previous Administration. On the fiscal front, help is on the way. House republicans have passed the American Health care act to l
Economic condition and possible fed actions in the future. You look like nervous. Im much more nervous, like yeah. Yeah. At work it will be eight or nine days away, but it can happen any time. I hope so. Im better than that. Lets talk about schedules. The committee will come to order without objection and they declare a recess of the committee at any time. All members will have five legislative days within which to submit extraneous material to the chair for inclusion in the record. The hearing is for the purpose of receiving the semiannual testimony and the board of governors on the Federal Reserve system on Monetary Policy and the state of the economy. I now recognize myself for three minutes to give an opening statement. Since we last convened to take chair yellens on Monetary Policy, headline remains low as does inflation, but the headline Unemployment Rate still rests too much on an incredibly low Labor Participation rate and regrettably high disability payment Participation Rate.
States. This comes after President Trumps executive order, banning refugees. Our nbc bay area viewers posting this video on twitter at the scene of sfo, where weve just alearned the arrivals entrance to the airport has been blocked because of the size of that protest. And those protests continue to grow across the country right now. Lets go to nbc bay areas christie smith, whos live at sfo right now. Chris christie, this is a very chaotic scene. Were talking about it impacting incoming flights. Reporter thats right. This demonstration was slated to begin at 3 00. Here it is, 5 00, and you can see how many demonstrators are out here. There are hundreds of protesters outside the International Terminal at sfo, protesting against President Trumps executive order, which blocks enter of certain refugees from mostly muslim countries. In this crowd of people chanting and carrying signs, we are told there are some families here. Also, a number of attorneys who are trying to clear up confusion a
Members have been notified through customs and border patrols that a relative is being held after President Trumps executive order. Now volunteer attorneys came here to sfo earlier today. There are several of them. They say what theyre trying to do is help the family members that they say are from at least, they believe, four people they believe iranian citizens with visas may be being held here. They say that at this point its kind of difficult to confirm because theyre getting very little information. For some people here the situation is rather unclear. Shes on a flight from due buy coming back. I talked to her when she lanltded but we dont know if she can make it or not. Reporter shes being told that he should not get on a plane because if he does he may be detained or if he is not detained or turned around and sent back. Reporter now what a number of attorneys told us is that immigrants instants group did put out a request for attorneys to show up. One told us that she came out of
Is authorized to declare recess of the committee at any time come in all members will have five legislative days within which to his extraneous materials for inclusion in the record. The hearing is for the purpose of receiving the semiannual testimony of the chair of the board of governorboard of govere Federal Reserve system. On the conduct of Monetary Policy and the state of the economy i now recognize myself for three minutes to give an opening statement. After eight years in the largest Monetary Policy stimulus in the history and the most unconventional Monetary Policy in our history, americans recently received disappointing Economic News yet again. It is official, the economy grew at a measly 1. 6 in 201 2,016thn our historic norm is twice that. That takes eight years of subpar growth in eight years of stagnant paychecks and eight years of him replenish savings. Notwithstandinnotwithstanding tn that the fed to come and notwithstanding the personnel. After eight years, there is a