So the chairman says this is fine is it fine this is fun just fine. Thank you again. Well this is fine you know the only solution they seem to have over and over is more money printing and the fed is at that again nonstop since 2008 really as paul says fed policies will absolutely not lead to more income inequality this is what he claims last week while cities across america were on fire and notice that he said income inequality you know money printing does it causes asset prices to increase and tech Capital Gains to increase he didnt mention that he didnt mention the wealth gap so i did want to turn to a chart from pew and it shows the share of us aggregate wealth since 1983 to 2016 this is what the fed has been doing this is the upper income went from having 60 percent of all wealth in america back in 1903 to 179 percent and its probably much higher even now middle income has been the huge collapse as you see down from 32 percent to 17 percent so theyre nearly cut in half well this i
We will receive testimony from the secretary of the treasury and e chairman of the Federal Reserve as required under title iv of the cares act. Congress has appropriated 3 trillion to protect and support americans to fight the pandemic and also to stabilize the infrastructure of our economic system. A large portion of this funding is authorized under title iv of the cares act which provides resources for loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and programs in support of eligible businesses, states, municipalities, and tribes. Title iv of the cares act provided 454 billion as an infusion into the exchange stabilizatiofund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketplace and support eligible businesses, states, governments, and tribes. This unique authority known as 13. 3 authority is authorized under section 13 of the Federal Reserve act and plays a Critical R
Suddenly very risk off, with the s p 500 and dow down. The nasdaq is down one point 25 for the worst performance. , dow jones news reporting it is facing criminal and civil scrutiny into years of 77 max Quality Control lapses. Once again, reporting that boeing is facing criminal and civil scrutiny into years of 737 max Quality Control lapses. As we know, boeing plays a part in many of these indices, so it is definitely weighing on those in the last few minutes, erasing most, if not all of its gains. In numbers tomorrow, which is worth bearing in mind. Inopean banks are firmly focus. Loan loss provisions a big part of what we are seeing here today. , one of which is results out today. What thee a listen to banking ceos we have been talking have had to say about the economy. Greatres obviously a degree of uncertainty around that range. We saw 3 billion of expected credit losses in the first quarter, up fourfold on the charge from q4 of last year. 7 billion to 11 billion range is an estim
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