Welcome to the 2017 National Competitiveness forum. I hope all of you that were with us last night had a lovely evening at the University Club for our annual dinner. I know we were all absolutely blown away by the fantastic talk that was given on sustainability. Thank you again for that wonderful poor divorce of the imperative for sustainability in our future. Allow me to recognize and thank our sponsors for their support and commitment for the council of work and i want to recognize the company and Lockheed Martin are premier sponsors and want to recognize our national for pepsico, deloitte, our chairman sponsor asu, university of california san diego as well as the benefactors and patrons a ten tv and Michigan State university, university of action, verizon, Marquette University and whitecap investment. We cannot do that for him and i thank you very much for that. We have a full day, very exciting talks, as well as the relief of some of the critical annual policy work of the council
This committee will come to order. This morning we will hear testimony from Richard Smith, former chairman and chief executive officer of equifax who held those positions until last week. I understand that you are now serving as an unpaid adviser to the company and appreciate your willingness to testify here and appear about the events surrounding the breach and equifaxs response while you were leading the company. Given the severity of the data breach, congress will continue to examine the facts behind it and what can be done to prevent similar situations. Sign r security is one of the most pressing issues facing companies as well as consumers and governments alike. And is one of the biggest threats to our financial system. The amount of data that the private industry and government collect and store is very concerning. Theres intrinsic vulnerability in collecting information and we e need to have a meaningful discussion on how to protect and limit access to it. The Banking Committee
Executive officer of equifax who held those positions until last week. I understand that youre now serving as an unpaid adviser to the company and appreciate your willingness to testify here and appear and testify about the events surrounding the brief and equifaxs response while you were leading the company. Congress will continue to examine the facts. Cybersecurity is one of the most important issues facing companies as well as consumers and government alike and is one of the biggest threats to our Financial System. The amount of data that the private industry and government collect and store is very concerning. There is intrinsic vulnerability in collecting and storing personal Financial Information, and we need to have a meaningful discussion on how to protect and limit access to it. The Banking Committee takes its oversight of Credit Bureaus seriously. As they are Financial Institutions under the grand leach bliley act. Credit bureaus serve a critical function in our Financial Sys
Saudi arabia will oncene day sell solar power instead. We are live at the climate summit. Mark welcome to countdown. Coming up, i will speak to two England Rugby champions in the first interviews of the day. That is a conversation you will not want to miss. Anna mark is not looking forward to that. Lets bring you up to speed with what you have missed. U. S. Stocks climbed to record levels after Economic Data added to speculation the fed will not rush to raise interest rates. Crude oil rallied while the dollar weakened. Mark david englishs ingles is in hong kong. David we are up a further 2 . A fourday run. Not an ordinary fourday run. The biggest so far this year. I think we are up 300 points. Just from last tuesday, 400 billion of market cap added. That is for the shanghai composite. Volumes are quite heavy. Double the threemonth average. Take a look at the charts, some of the indicators, they show you at levels which prompted a move down over 12 weeks at these levels. In any case, a
Small business and Community Leaders discuss how the covid19 pandemic impacted their business and organizations during a listening session with the Federal Reserve board of governors. The discussion as part of an initiative called the fed listens which aims to hear from americans about how Monetary Policy impacts them. Why dont we get started . Good afternoon. Welcome. Its a great pleasure to see you all here in person after a long time of virtual events. Its also, this is the first time weve had a full board of governorsa in nine years, so to have the seven of us are its the first time were convening like this in seven years, in nine years. These sessions started just a few years ago in 2019 in what turned out to be a very different time. They were valuable then and we continue to benefit from them as we have navigated the pandemic shutdown to the path of recovery. H we started with listening sessions around the country that brought together people and organizations representing busin