The subcommittee is now in order. I want to thank you and appreciate you for the work you have done to make this hearing possible. We cannot make it without you. Without objection, the chair is authorized to declare recess from the subcommittee at any time. Members of the full committee not on this subcommittee are authorized to participate in this hearing. Members are responsible to mute themselves and on mute themselves. With the regulations accompanying hrs 965, staff will only use witnesses as appropriate. Members are reminded that all rules relating to order and a decorum applied to the hearing. Members are reminded that this hearing is entitled, paycheck security Economic Perspectives on alternative approaches to protecting workers pay during covid19. I now recognize myself for four minutes to give an opening statement. In february, before a pandemic was declared and the economic livelihood of americans was placed in peril, i sent a letter asking the White House Treasury Departme
Programs and committees as well. We will take you live to the financialal services subcommittee. The subcommittee is now in order. Without objection, the chair is authorized to declare recess from the subcommittee at any time. Members of the full committee not on this subcommittee are authorized twopart is abated todays hearing. I remind you to keep your video function on at all times, even when not recognized by the chair. Numbers are recognized recommended not to mute themselves after they are finished speaking. With the regulations , staffnying hrs 965 will only use witnesses as appropriate. Members are reminded that all rules relating to order and a quorum applied to the hearing. Members are reminded that this paycheckentitled, security Economic Perspectives on alternative approaches to protecting workers pay during covid19. I now recognize myself for four minutes to give an opening statement. In february, before a pandemic was declared and the economic livelihood of americans was
Maria big show this morning, joining the conversation fox business Dagen Mcdowell, the host of the secrets of wealthy women podcast veronica is here and entrepreneur kevin oleary. Do you want to take money to the sidelines until a deal is done . I come to the conclusion the market wont care because whats really occurring here is we have back tax, valueadded tax on chinese goods and they have been absorbed quite efficiently in the u. S. Economy, every other g7 has a back tax, we have one just on china. I dont care if they continue to ratchet up the tariffs because i think its the right way to get a deal done. Maria youre in on this. People were expecting recession or some sort of recession in 2020, not hearing that nearly as much anymore. Maria absolutely. Whats predicated on that is theres a trade deal, we will see a pullback in market in 2020. Dagen market has told you that the Recession Risk has fallen because the yield curve is no longer inverted and the 10year yield on the treasury
They can replace the backstop. The ideas are capable of responding back to the unique needs of the irish border and avoiding the need of the island of ireland casting a shadow over the frankfort motor show volkswagen says tariffs continue to be bad for business china is considerably hit by the trade war, so it is tough for us and we would really appreciate if some of these threats would go away within the next month, which we probably dont see. Oil stocks rise as crude prices extend gains after saudi arabia moves saying it is ready for a listing. Zb morningood morning you can see a lot of red behind me the prior sessions before s p, nasdaq were around slightly positive a lot of focus on tech yesterday with the attorney general launching investigation into big tech that has been a big theme in the u. S. Banks with yields higher that has translated to europe. The shanghai trade slightly softer after weaker than expected ppi data have come in minus 0. 8 year on year. One of the reasons as
Earnings from nvidia delivering on the Monetary Policy front. We saw how the fomc minutes came in more hawkish perhaps more than powell led on during his speech and that is bringing a resurgence in the dollar and putting pressure on asian currencies, particularly on the chinese yen. Pboc seems to be leaning in. They said that six at the weakest level since january, allowing declines. We see the korean won under pressure no thanks to the strengthen the dollar but it mostly held steady after the bok kept rates unchanged as expected. Yen has been moving up towards 156. 9 earlier the session, i want to highlight what we see in chinese equities, it declines on a day where other counterparts are gaining. There also concerns about geopolitical tensions. Hang seng leading declines dragging the index down. Csi three hundred, material stocks but as you say it is about nvidia and about how even though there was a high bar, it really delivered on what we hear from the ceo, it sounds like more is t