Good morning and the meeting will come to work. Welcome todays hearing on the oversight of the general trade commission. On extended a welcome and thank you for appearing. You will all appear roughly this morning. Include fcc chairman joe simons, and noah phillips. Commissioner chopra pretty commissioner Christine Wilson and rebecca slaughter. Cc the established in 1914. Under federal trade commission act. The fcc is chiefly responsible for protecting consumers from unfair, or fraudulent Business Practices in the marketplace. This includes protecting consumers privacy, and security of the data. And harmful uses of technology in combating deceptive advertising and illegal protocols. The fcc is also responsible for educating consumers about fraudulent activity, and predatory Business Practices and Consumer Education is an essential part of their mission. And its intended to inform customer choices help prevent americans from falling victim to fraudsters, cyber criminals another bad actor
Will come to work. Welcome todays hearing on the oversight of the general trade commission. On extended a welcome and thank you for appearing. You will all appear roughly this morning. Include fcc chairman joe simons, and noah phillips. Commissioner chopra pretty commissioner Christine Wilson and rebecca slaughter. Cc the established in 1914. Under federal trade commission act. The fcc is chiefly responsible for protecting consumers from unfair, or fraudulent Business Practices in the marketplace. This includes protecting consumers privacy, and security of the data. And harmful uses of technology in combating deceptive advertising and illegal protocols. The fcc is also responsible for educating consumers about fraudulent activity, and predatory Business Practices and Consumer Education is an essential part of their mission. And its intended to inform customer choices help prevent americans from falling victim to fraudsters, cyber criminals another bad actors. And recently discussed and
Postal funding after failing to use an extra week in congress to reach an agreement this will be one of the greatest frauds in history they are not going to get the 3. 5 billion so they cannot get the universal mailin vote ceasing the annexation of part of the west bank. Saying this is an historic moment we are really sort of diffusing a real threat on the twostate decision this is up to the palestines, the israelris and others. The broad base sweep is into the red moving through fridays session. We have had fairly decent week in europe. Before we started, we are pulling back from some of those higher ranges that we noticed. Given the size of the decline. Now down 1. 2 . The bottom end of the session is where we perched all of the factors weve been talking about. Fresh layers are a concern too and talks in china given tightened concerns and Technology Names doing business in the United States the market has been looking towards the chinese figures for some sense of confidence to pick u
Is driving the market. The credit fundamentals are deteriorating. The central bank has effectively crowded in. You can get spreads. Jonathan always great to catch up with you. We have a ton of supply from the treasury. The 30year happened. What was your interpretation. There was supply fatigue. What was your take . In the end, supply does not drive markets. It can have shortterm impact as supply has to get digested by the marketplace. Over the long run, the fundamentals are what will drive evaluation. At the long end the long end of the curve was a little overbought. There had to be concession to be supply into the marketplace. Over time, it will be fundamentals and we will be in a low inflationary environment. The fed is on hold for years. As a result, there will be demand for long treasuries. Back in late 2017, when the administration cut taxes, the yield on a tenure was 250. On a 10 year was 250 what will matter for the long and is inflation dynamics. Inflation picked up in the last
Of dallas. He is appointed in september of 2015 and he represents the 11th Federal Reserve district on the federal open markets committee. Prior to his service for the dallas fed, kaplan was a martial professor of management practice and a senior associate dean at Harvard Business school. Kaplan had a 23 year career at Goldman Sachs and was ultimately named a senior director of the fern before joining harvard into thousand and six. Today, mr. Kaplan joins us to talk about what he believes the road to u. S. Economic recovery must look like in order for the country to bounce back from the damage done by covid19. He is also going to share his Economic Outlook for the rest of the country and into this year and into 2021. Mr. Kaplan, the virtual podium is yours. Right, thank you. Thank you kimberly and thank you everyone for having me here today. I will talk for a few minutes about, as kimberly said, the National Outlook and some of the key things that we need to do and some of the key chal