Johnson come our Senior Vice President for labor immigration and Employee Benefits. And jd foster, or Senior Vice President for Economic Policy and chief economist. They will each speak for about 15 minutes and then we will open it up forq a. You can ask your questions then. Without further a jew, i will pass it over to jd foster. Thank you all for coming, its a pleasure to have you with us today. Its nice to be with my colleague randy johnson. The four we begin, and want to acknowledge the people in houston and those suffering from hurricane harvey. I wish them on behalf of the the safety and swift as possible recovery from what they are dealing with. Year ofomy is in its 19 expansion which is fairly notable. That makes of the third longest in the modern era. By next spring, we help we will have tie for second. Curiously, despite the length of the recovery and expansion, we seem to be now possibly heading. Nto aperiod of acceleration normally as the expansion goes along, the expansion
I want to knowledge the people in houston and those suffering from hurricane harvey. I wish them on behalf of the chamber all the safety and swift as possible recovery from what they are dealing with. The economy is in its 9th year of expansion which is fairly notable. That makes of the third longest in the modern era. By next spring, we we will have tied for second. Curiously, despite the length of the recovery and expansion, we seem to be now possibly heading into aperiod of acceleration. Normally as the expansion goes along, the economy slows but we may have something of an acceleration. The reason for that is somewhat in this chart. If you look to the far left side of november, there is that little dip that corresponds to theperiod before the election and then we have the election and surprising many people, the market has taken off since then, so far a 16 increase, often called the trump bump. Whether President Trump gets the credit for this, historians will determine but that inc
Mr. Fitzpatrick i had very Small Community banks that i visited with yesterday and they are from bucks county, pennsylvania and has to do with the subject of Overdraft Fees. There are a lot of us who have concerns that the rulemaking that your bureau is limiting smool Community Banks to provide real choices and customers could be customers and Small Business owners. And they would be owners that uld seek out riskier nonbank regulations. In regard to the Overdraft Fees and you are looking and a rule is being formulated on this issue, is that correct . Mr. Cordray yes. Mr. Fitzpatrick when is that expected to be released . Mr. Cordray the proposed rule, which will be subject to considerable comment will be released this spring. Mr. Fitzpatrick this particular bank that i met with me wanted me to and suggested whether you have any willingness to identify data and something you talked to mr. Westmoreland so banks and Financial Institutions can draw their own conclusions, is that something
The decision that requires me to set aside shortterm expediency and there are politics so as to maintain faith with our founders and perhaps more importantly with future generations. And that is why over the past several weeks, i have done my best to set up a rigorous and comprehensive process. I have sought the advice of republican and democratic members of congress. We have reached out to every member of the Senate Judiciary committee, to constitutional scholars, to advocacy groups and bar associations representing an array of interests from all across the spectrum. And today, after completing this exhaustive process, i have made my decision. I have selected a nominee who is widely recognized not only as one of americas sharpest legal minds, but someone who brings to his work a spirit of decency, modesty, integrity, evenhandedness, and excellence. These qualities and his long commitment to Public Service have earned him the respect and admiration of leaders from both sides of the ais
40. 95, plus shipping. A dollars . 25r plus shipping. Next, set as historian emeritus don ritchie takes us Senate Officeksen building. We learn about its construction, place in history, and the buildings namesake. Once upon the time the entire United States senate could operate out of the Capital Building. That wasnt the 19th century that was in the 19th century. Demands of the government grew and as services group, letters started coming in, more staff had to be hired, more space had to be acquired, and eventually the three Senate Buildings were constructed. Right now we are in the dirksen building, we are in the large multipurpose hearing room that has had various layers of history. The first Senate Office building 1909, known as the russell office. More and more services were coming out. All of the senators were in one building and all the staff were in one building. Was a small unity of staff and senators that existed in the building until 1958. Steadily that a on the government in