He took questions from members of the Senate Banking committee about his overall philosophy on Monetary Policy and the role of the fed chair. Senator mike crapo chairs the committee. And the committee will come to order for the hearing. [gavel pound] this morning we will consider the nomination for the chairman of the Federal Reserve system. The chairman system. Ederal reserve governor powell, welcome and congratulations on your nomination. I see friends and emily behind you and i welcome them here as well. Governor powell has had an accomplished public and private career in financial services. He served as an assistant secretary and undersecretary secretary of the treasury under george h. W. Bush, where he was responsible for policy on Financial Institutions and the treasury debt market among other areas. Firsthand experience in Investment Banking and was a partner of the Carlyle Group before being appointed to serve on the board of governors and 2012. During his years of service and
500, and the nasdaq of higher. A big rally, the dow up five days in a row, the first time that has happened since the beginning of november. The best fivebased rate for the dow since april. The bulls are out, even for the nasdaq. Yesterday we had a mixed session. He nasdaq yesterday down 1. 3 there is follow through. Investors are buying the dip. , up 6 . Transfer the dow transport right now on pays for the best week since 2011. Lets break this down with the airlines, american airlines, united, delta all trading sharply higher. Behind this, a note from an analyst at ubs talking about the measure of revenue within the industry is likely to go up. There is strong seasonal demand. That could be a piece of what is happening with american airlines. An issue with a shortage of pilots for their airplanes and stronger than anticipated for demand. Breaking down the s p 500 rallied, all green. This is a great way to see what is happening sectorwise. All 11 sectors are trading sharply higher. Ene
Accomplished public and private career in financial services. He served as an assistant secretary and undersecretary secretary of the treasury under george h. W. Bush, where he was responsible for policy on Financial Institutions and the treasury debt market among other areas. Firsthand experience in Investment Banking and was a partner of the Carlyle Group before being appointed to serve on the board of governors and 2012. During his years of service and government and in the private sector, governor powell has proven he is qualified to lead the fed. If confirmed, he will plan a part role in striking the important balance the tweening need for a safe and sound Financial System and the need to promote the vibrant, growing economy. Of the past one year ive been encouraged to see federal regulators carefully and thoroughly violate current laws and regulations. Governor powell has shared in the past where the fed believes some laws can be changed to alleviate some burdens. Members ofks ag
Several other measures, including u. S. Partnerships with mexico and can dand naming several post offices. Later in the week in the house, two financerelated bills dealing with iran. [captions Copyright National cable satellite corp. 2017] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] the speaker the house will be in order. The prayer will be offered by our chaplain, father conroy. Chaplain conroy let us pray. God, father of us all, we give you thanks for giving us another day. Ever faithful to your promises, we ask your presence with your people, now and forever. The sun grows dim and the daylight is measured, in the darkness phantoms loom. The eye the company discern as the distance cannot discern as the distance fades. Be for us light. Help the members of Congress Make clear judgments that will propel us into a blessed future. Remove any shadowy clouds so that they might follow the patterns o
Because some of us are underneath clearing skies, others have that cloud and fog in places. Here is the run up to christmas. If you watched yesterday this hasnt changed. Its staying mild. This pattern also hasnt changed since yesterday. The blue is the cold air, mild weather gcioss blue is the cold air, mild weather across england as far north as scandinavia, all the way to lapland. Its mild in other parts of europe, not just us. Its mild in other parts of europe, notjust us. Tonight grey cloud, drizzle around as well. In the south overnight temperatures no lower than around ten, for example, in cardiff and plymouth. In scotland, particularly in the east, where we have some sunshine right now, the temperatures will dip away so may be a touch of frost here and there. But for most of us that will not be the case. Here is thursday. A dull sort of day for a number of areas. Some rain around fora of day for a number of areas. Some rain around for a time across northern ireland, maybe Northe