Comptroller of the currency, the Senate Banking Committee Received a 6month update on the state of Banking Systems, the impact of covid19 and support for Small Business owners in communities of color. This runs an hour and 45 minutes. Today we welcome to this virtually hearing the federal prudential regulators, Federal Reserve vice chairman Randal Quaries, office of the comptroller, brian brooks, chairman of yellen and mcwilliams, chairman of the National Credit administration rodney hood. We will receive testimony from each agency on efforts, activities, objectives and plans since we last testified before the committee. As well as an update on covid19 related actions. Since the passage of the coronavirus a relief and Economic Security act or cares act your agencies have taken many meaningful steps to ameliorate the Economic Impact of the pandemic as you provide conditions that will lead to a forceful recovery. On october 30th the Federal Reserve announced changes to its facility inclu
The s p hitting another record high yesterday. The 16th of this year. The s p futures indicated up 12. Dow futures indicated up 27. Nasdaq futures are indicated up, too. This comes after gains for the s p and nasdaq of more than 1 . Pushing both indexes to record highs. Dow closing higher. It was up 130 points yesterday. A lot of this came after what we heard from jay powell. He was speaking again before congress and yesterday he said this is key. Yardeni pointed this out. Powell said we are waiting to become more confident that inflation is moving sustainably at 2 . It will be appropriate to dial back the level of restrictions. That is what the market heard. Not far from it. As a result, you saw treasury yields pull back. The tenyear yield at 4. 07 . The twoyear yield at 4. 49 . It is interesting because it is all based on inflation. We havent even any definitive proof that the economy is going to fall off a cliff. Maybe we can get that today. Maybe he knows something. When he said we
Before. In response, south korea puts on its own show of strength tonight, firing three missiles into the sea. This drill was carried out six minutes after the north Korean Missile test was detected. Things are tense. Im dan ashley, ama daetz is off. North korea announced that missile is capable of striking entire mainland of the United States. Stateowned news media declared that north korea has become Nuclear Force but still calls itself a peaceloving state. President trump promises quote, we will take care of it, whatever that means. Bob im fearful of being retaliated against. Reporter at state capital, Assembly Member told a story of Sexual Harassment involving a longtime activist, shocked at what she said apologies, trying to get to wood roughs package. Hawaii is taking nuke threats from north korea seriously as well. [ siren sound ] Hawaii Emergency Management Agency shared this video as it announced monthly tests of statewide warning system. New tone. Fast warning is critical for
The senate secede from its amendment and concurs with further amendment, the tax cuts and jobs act is passed. Reporter late tonight, republicans in the Senate Passed sweeping changes to the nations tax code. And, they submitted their victory with a revote in the house set for tomorrow. After eight straight years of slow growth and underperformance, america is ready to take off. Reporter by the democrats, including our representatives in california, call the billy tax scam favoring the rich. This is the worst bill to ever come to the floor of the house. With stiff competition for some of the things theyve tried to do, the worst bill in history. Reporter one dozen a dozen House Republicans voted against the bill including two from california who said that the bill would raise taxes on their constituents. Political analyst brian sobol says behind these deals, they would whenever some lawmakers on the fence, but that supporters of the bill may pay a political cost. Sobel says the democrats
Vote in the senate, 5148, right along party lines, as the republican majority holds. Now, the gop is closing in on its first big legislative win. Good evening everyone, im frank summers. And im julie haner. There was a snag after the house vote, and they will have to revote tomorrow. Ktuls Monty Francis joins us now with the latest on the process and politics, monty . Reporter the voting tonight in the senate was interrupting more than once by protesters chanting kill the bill, dont kill us. Republicans are now in the process of putting a 1 1 2 trillion dollar tax cut with significant changes to the ux u. S. Tax code into place. The Congress Report is adopted, without objection, the motion is laid upon the table. Reporter with jubilation, republicans in the house passed sweeping changes to the nations tax code. Then, came word from the senate that the bill contained at least three provisions that violated senate rules. A revote in the house is scheduled for wednesday. For all those mil