Disaster. Monetary policy works through emulating aggregate demand and that is important now. Ultimately, there is a job to replace lost income. Our congress stepped in and there has not been a faster or stronger response from congress to an economic emergency since the great depression. The cares act and other laws have been passed to more than offset lost income in the aggregate. There will be people for whom that is not true. You see high levels of savings on the Balance Sheets of households. Not experienced the downward cases we were worried about of mass insolvencies of businesses so far. So far, so good, i would say. There are no full recoveries without confidence. Do, which ipart to think we have done. The path forward will be challenging for a number of reasons, and i am sure we will get into some of them. Congresso do more and might need to do more with fiscal policy. The particulars of that are up to congress and not up to us. It is likely more will need to be done in time. O
It also says it will purchase additional treasury assets as part of an accommodative policy. It repeat language from previous statements, where it sol it will use the full range of tools to support the economy the statement says weak demand and oil prices are holding down inflation, but the path principally depends on the virus. It says it poses considerable risk to the mediumterm outlook. There were two dissets, from the dallas and minneapolis fed, differences in what they wanted. Capellan wanted more flexibility. Let me tell you about the outlook for gdp. They actually dramatically well, they were looking for a 6. 5 gdp decline, now looking for a 397 decline they were looking for nine and change, now looking for 7. 6. Ill go directly to the actual table here and put my glasses on, and tell you what it says here inflation they have upgraded from 0. 8 to 1 mounta. 2 there it is, folks the path of policy 0. 1 for 2020, 0. 1 for 2021 0. 1 for 2022, and drumroll, please, 0. 1 for 2023 the
The Senate Environment and public works Works Committee held a hearing on how infrastructure legislation can help the economy recover from the coronavirus pandemic. Senators and panelists discuss the best way to fund road and bridge projects. Good morning. I called his hearing to order. Before i discussed todays hearing i want to say a few words about what is happening in communities across the country today. This is a time of great pain and unrest for our nation. Americans are truly outraged by recent killings. Anyone who watched the video the murder of george floyd has to be horrified and heartbroken. The resulting peaceful protests about police abuse against any american citizen are important and necessary. They listen to the voices of africanamericans about police brutality. Some of the peaceful protests were hijacked by filing criminal, distraction, looting and arson stop. Those who commit these crimes dishonor the memory of george floyd and dishonor the cause and the Peaceful Pro
Good morning. I call this hearing to order. Before i address the topic of todays hearing i want to say a few words about whats happening in communities across our country today. This is a time of great pain and unrestfor our nation. Americans are truly outraged by recent killings. Anyone who watched the video of the murder of george floyd has to be horrified and heartbroken. The resulting peaceful protests about police abuse against any american citizen are important and necessary our nation needs to listen to the voices of africanamericans about police brutality. Every american citizen deserves justice under the law. Some of the peacefulprotests have been hijacked by violent criminals. The destructing and looting and arson must stop. Those who commit these crimes dishonor the memory of george floyd and dishonor the cause for which the Peaceful Protesters first took to the streets. Now in a moment of americans to come together to listen and to heal. The goal of this hearing today is to
[000 00 00;00] with this is boom, bought the one bit show you care. The fordham it brings you more. Can i make it . Love is in washington coming up. It may be a new month, but its more of the same delay for the north, you and your pipeline. Well take a look at how tensions over ukraine are impacting the state and the completed project fly. All eyes are on opec loss, as it will. Prices remain your 90. 00 per barrel. Good. The car solid ramp up production that had a schedule for this guy. Then could the Federal Reserve raise Interest Rate sab been times this year. Well bring the latest connections with analysis. Got a lot to get to get started and we leave the program with the latest on the fate of the nordstrom to pipeline a mid another day of tensions in the u. S. Ramps up are possible military conflict with russia. The president of the European Commission said monday that the gas pipeline from russia to germany has been put on hold. And the commission is looking into the projects comp