Far too fast an increase and far too slow a decrease. But we all make mistakes, dont we good wednesday morning, welcome to squawk alley. Im carpal kwinquint nilla with Morgan Brennan fed chair powell is expected to testify in just a few moments. Well bring you his testimony in full once it begins. Ahead of that weve got every angle covered. Steve liesman, rick santelli, bob pisani, tom porcoli. Fed chair powell is telling joint congress that rates are on hold unless there is a big change to the outlook. The operative sentence, we see the current stance of Monetary Policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our policies of moderate economic growth. What would it take to change course developments that would cause a material reassessment of our outlook, which is say the bar is kind of high bmo writing the chair stayed true to the patience script, confirming that rates are likely in an extended Holding Pattern p
Federal reserve. Thank you, chair powell, for coming to our committee today to testify on the economy. We know youre on a tight schedule and in order to keep you on schedule and ensure all members have an opportunity to ask questions, i ask unanimous consent to deviate from the fiveminute rule. Members will be recognized during the questionandanswer succession for three minutes without objections and the Ranking Member and i will be recognized for five minutes instead of ten. So ordered. Per agreement we will reduce our time for opening remarks and both be recognized for three minutes. I know yield myself three minutes which i will not use, but once again, thank you for being here. Its been seven years since the chair of the Federal Reserve has appeared before this committee and we are very grateful for your being willing to do that. And i want to say at the outset, im going to submit my written testimony for the record to save time. But i also want to make sure you know we wholehearte
Hello, welcome back. Were going to get started on the rest of the event. So im very excited to introduce our next panel. Its all about the labor market. We have two great panelists. The first is were going to hear from katia peneva from the Federal Reserve board. Just to provide some context, thats the section thats responsible for preparing the forecast of inflation and wages and prices for the fomc. I have to admit that we were longtime colleagues and i want to assure any lawyers that are here that none of our conversation should be interpreted to constitute my making a request of katia, the Federal Reserve system or the fomc, so were clear. Our second panelist is jared bernstein, a senior fellow at the center on budget and policy priorities and hes been very active for many years thinking about the labor market, inequality and macro policy from his positions both within the Obama Administration and within various think tanks here in d. C. You can read more about his thoughts in his
So, im very excited to introduce our next panel. Its all about the labor market. We have two great panelists. The first we will hear from kostya, a principal economist in prices and wages section in the division of research and statistics at the Federal Reserve board. To provide context, thats the section responsible for preparing the forecast of inflation and prices for the fomc. I have to admit that katia and i were long time colleagues. I want to assure any lawyers here none of our conversation should constitute my making a request of katia, the Federal Reserve system or fomc. Our second panelist is jared bernstein, a senior panel at the budget on policy and been active many years in the labor market and inequality and policy both in the Obama Administration and in various think tanks in d. C. And you can read more about his thoughts on the economy. I will turn the presentation over. Thank you very much, stephanie. Its a pleasure to be here. How do i thank you. Okay. So, in the spir
We are going to bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with this mornings top stories. We are going to start with the latest in asia, where chinese officials concluded the biggest meeting of the year in china. The gathering of the communist Partys Central Committee focused on the economy and hong kong protests. Going me is and occur in joining me is enda curran. What did we learn . ,nda it was a fourday closeddoor meeting. They spoke mostly about rising domestic and international risks, and of course, the backed up domestically being the slowing economy, unrest in hong kong, and internationally, trade war with the u. S. We didnt get any Major Economic initiatives out of it, but we did get some signals that it is doubling down on party control, and ensuring much stricter oversight of hong kong. There was no sense of compromise when it comes to dealing with protesters. Alix thank you so much. Now we went to head to germany, w