Committee. The meeting will be called to order. The chairman is on his way. He has asked me to gavel in and begin my Opening Statement and then hopefully he will be here. We are very, very honored to have chairman powell. We thank him so much for testifying today. I look forward to hearing your perspective on the current state of the economy, and the potential challenges ahead. Id also like to thank you for your thoughtfulness as you help steer the economy through what in some ways are extremely challenging times. As you have said in your testimony, by some measures, our economy is strong. The National Unemployment rate fell from 10 at its peak during the Great Recession to only 4. 7 when President Trump took office. And it has continued to fall. It now stands at only 3. 6 . The economy has continued to add jobs now for 10 9 consecutive months. More than nine years. Years. Inflation remains low. Below the feds target. Wages are moving up though not as fast as we would like. But it is w
Largest ipo but falls short of the 2 trillion target positive signs of a trade deal as President Trump says talks are moving along well and beijing says it will wave tariffs for some u. S. A agriculture al products. In a deal worth 3. 2 billion pounds for the Phoenix Group it is the last trading day of the week you can see behind me, there is a lot of green already in the european heat map. This is after the positive hand over from wall street. Some optimism again about those trade talks. New comments from President Trump saying the trade negotiations are on track and going well that gave a boost to wall street overnight as well, we are seeing positive momentum. Here on some reports from the Chinese Finance Ministry saying china are willing to make exemptions the narrative about trade has switched to positive again we still have a lot of green on the board. Stock 600 up about 0. 3 percent ant point. Despite the red we saw in asian markets, it has been a heavy week for Global Markets. T
Showing in its entirety over on cspan2. Thats going to start at 8 00 p. M. Eastern time. The committee will be in order. The chairman is on his way. He wants me to give my Opening Statement and hopefully he will be here. Ere honored to have chairman powell. We thank him so much for testifying today. I look forward to hearing your the current state of the economy and the potential challenges ahead. Like to thank you for your thoughtfulness as you help through what omy in some ways are extremely times. Ging as you have said in your testimony, by some measures, our strong. Is the National Unemployment rate duringom 10 at its peak the Great Recession to only 4. 7 President Trump took office. And it has continued to fall. Only 3. 6 . Ds at addeconomy has continued to jobs now for 109 consecutive months. Than nine years. Inflation remains low. Feds target. Wages are moving up though not as fast as we would like. Ways. Is weak in other but other measures tell a very story. Nt g. D. P. Growth
And livermore as well as concord where we are seeing lower visibility. Down to a quarter of a mile. Right along i80 from vallejo into fairfield as well. Take it easy out there. We have patchy dense fog in our valley locations. For the afternoon the rain arrives. Wind advisory for our bay area starts later today. Flash flood watch for the north bay starts later today. And a winter storm warning for the sierra starts later today. Ill have details on the advisories and timeline of the storm coming up at 7 01. How about those highways . Good morning, sal. It sounds like everything starts later today. Thank you rosemary. The highways are doing okay. Its not raining now. As you heard her saying. That is a later today event. But right now we do have slowing. Lets go to the bay bridge. 21 minute drive. And there is a backup. Earlier this morning we hit a problem. But it was so lightly traveled that this backup it doesnt look that good, but it could be a lot worse. If you want to use the san ma
Some tariffs for soy and pork from the u. S they didnt specify quantities involved they imposed 25 tariff since july 2018 in retaliation eunice yoon was up very early it is 12 hours later there. She was up very late. Whatever it was. She was up she tries to figure out what is happening. This is the beginning of some positive that is my take. And futures are up. After thursday when the Chinese Ministry said, look, we are still on track for kauks it would have to be precondition, okay, here, well drop some of ours first and get to you december 15 right . Right i was thinking about how much risk there is to thinking about 10 or 11 months before an election and what could go wrong. We heard about if there could be a recession. He says 2021 what if there was a big market break next year in the stock market you saw what happened a year ago at the holidays. Christmas shopping draops significantly. Where im going with this trying to follow. I know it is hard trump has we are at new highs right