A corona virus vaccine for political gain just. To. Thank you for joining us a prominent opposition activists missing since monday has been detained at the border with ukraine state media says Border Guards removed Maria Colleen escobar from a cottage crossing several hours ago she was seen being snatched off a street in minsk by masked men and taken away in a van meanwhile russian and sebi and military will arrive in minsk for joint drills set to begin on thursday earlier we spoke to journalist andrea vite of a chose in minsk and he had more on what happened to maria cullen escalade. We know mostly from i didnt state media will from other sources because her lawyer still hasnt gotten any information during the last 24 hours weve seen this morning the video with the want to her team member who was explaining then he has chosen to leave the country now we know there are 2 of them there now in ukraine and Maria Kolesnikov i couldnt leave the country because she simply tore off her post s
Any time. Members are reminded to keep their video function on at all times. Members are reminded that theyre responsible for muting and unmuting themselves and to mute themselves after they are finished speaking. Consistent with the regulations accompanying the resolution, staff will mute members when not recognized to avoid inadvertent background noise. All house rules relating to order and decorum apply to this remote hearing. [ inaudible ] economy and i know recognize myself for four minutes to give an opening statement. Chair powell, the law that required the Federal Reserve chair to testify before congress twice each year was established back in 1978. However, no fed chair has ever testified before this committee with the economy in the condition that it is in today. More than 116,000 americans are dead from the coronavirus. And just last week, 21 states recorded an increase in their average daily new cases compared to the prior week. The april jobs report was the worst in Americ
Positive impact on very sicko individual patients. And of course, jim, we had the announcement today that the fed will begin buying individual Corporate Bonds, not just the etfs that hold those bonds but the actual bonds themselves. That certainly helped. Whats your take this morning . Well, look, i think each one of these can be debunked took this drug for two months. It was okay. I switched to prednisone suddenly we discovered this was a big breakthrough what were the doctors doing . Did all of the doctors get it wrong . Did they realize it was not swelling around the body and just focused on the lungs. Its like, okay, idiots honestly, i love the doctors, theyre great. But come on, how did they miss this and look, david, the gunners all want the stocks to go higher, right . And the fed is buying bonds that we would normally i mean, maybe the fed buys hertz bonds and takes them up to the point where maybe hertz is good. I dont know, david. Theres a lot of people saying talk pony. The
Chairman Jerome Powell will update the committee on Monetary Policy develop and the state of the u. S. Economy. It has always been four months since the last Humphrey Hawkins hearing, but we are seeing a different economy today. One that has been racked by the physical and Economic Impact of the covid19 pandemic, and ensuing shutdowns. Chairman powell, you have stated that the Federal Reserve is strongly committed to using our tools to do whatever we can and for as long as it takes, to provide relief and instability to ensure that the recovery is as strong as possible. Additionally, the fed has purchased more than 2 trillion in treasury and mortgage began ins since midmarch. Because of this, the Balance Sheet has expanded to more than 7 trillion. Congress, the administration, and regulatory agencies have taken action to protect and stabilize the infrastructure of our Economic System. The cares act has been central to that effort, and recent stats indicate that our labors are working. I
Possibility china might make efforts to im pose security measures on hong kong has some worried especially in asia today. My goodness, thats despite the fact that we did actually get some we started with vaccine data driving the markets. Look at the rally on monday to start the week off of the moderna news you had those positive vaccine comments from dr. Fauci saying the data looked promising, but its being overshadowed by everything playing out in china, whether its the situation with hong kong and what is essentially being seen as something of a power grab through a National Security lens or intentions between the u. S. And china more broadly and some of the policies that weve seen start to come in this week as well its interesting to see in general how this week has played out in the markets because reopening from a week to date standpoint has really led the way here it is the russell 2,000, the small caps which are seen as a proxy for the reopening efforts now that we have 50 state