Covid19 and other biological threats facing the u. S. Good morning. Welcome to the hearing [inaudible] emerging threats and capabilities. In a moment in accordance with house rules and relations the host will mute all participants other than german [inaudible] and all participants are asked to keep themselves muted when not actively engaging in the discussion which should help limit echoes and other asruptions. When the yield back i do not renumber to retweet themselves others will doo so to limitit efforts and background audio background audio. Members and witnesses are responsible for unwitting himself anytime they wish to w e heard. It may take a few seconds for your microphone to be t unmated. If you are on the computer you can view the timer by reaching your personal view in the upper right corner of your screen for the active speaker and you can also pin the timer by right clicking or hovering your cursor over the timer and pressing that contact icon. With that, we are ready to b
U. S. Futures, bond futures are lower. Youll see what is happening across the bond space. Another day of yields melting higher. We could see a 12 week in the last 14 of bond pain. Yvonne we are set for three years of losses. David the 40 bit on the 60 40. Rishaad is it 60 bonds now . David 100 loss is the joke. This is the pain point. Rishaad the 10 month highs. 91 books. It seems we have a clear path to 100. It is going to be key. The Saudi Energy Ministers talking in calgary later on to their talking about ned zero. Saudi arabia, ned zero. Net zero. Russia also involved in this. Commodities elsewhere also in the fray. We look at what is going on. Rising iron ore. Is it hope, expectation or reality . We are seeing signs of china stabilizing. Is that what is the driver . Yvonne is it going to break this disinflationary trend we are seeing across the world is one key question Central Banks are going to have to talk about. The fed, they are not going to do anything. The pause is all but
Requests that increase to provide Additional Services increase the personnel or enrich programming behind the base budget theyll prioritize ongoing proposing paroles and the proposals must be sported by analytical base approach what im causing augment you shuns theyre to address i think areas those are similar to pillars that have been established by prior things that the mayor want to achieve the first is and tyler kind of vague. Pam pam i think we can see those theyre in the materials i understand the importance of enthusiastic way the pillars of augusttion. Director dodd. I believe the total on that groundtion relate to serving the public not enhancing the service for employees it maifrs makes it more difficult to find our needs for Additional Fund in the context of serving the public. So thank you. One of the so when the original discussions were done when the mayor come to the director and explained what the budget instructions and came to the cfo there were only a few of the goal
Analytical base approach what im causing augment you shuns theyre to address i think areas those are similar to pillars that have been established by prior things that the mayor want to achieve the first is and tyler kind of vague. Pam pam i think we can see those theyre in the materials i understand the importance of enthusiastic way the pillars of augusttion. Director dodd. I believe the total on that groundtion relate to serving the public not enhancing the service for employees it maifrs makes it more difficult to find our needs for Additional Fund in the context of serving the public. So thank you. One of the so when the original discussions were done when the mayor come to the director and explained what the budget instructions and came to the cfo there were only a few of the goals when we actually issued the budget you instructions they added one other interesting area and that is cross departmental collaboration this may be something that we can look at in terms of and im just
Anyhow to improve the process but we right now are on the kind of the critical timeline in terms of our the mayors budget instructions those only apply to the general administrator budget what theyve put out in december was that theyre projecting the general fund deficit to be 15. 9 million in 2015 2016 and 88. 3 million in 20162017 this is based on Current Operations and staff and estimate revenues as a Reference Point we were they were projecting a deficit projection this time last year for 2015 2016 to be 108 million by due to strong tax Revenue Growth and low Unemployment Rate and the negotiation of affordable and 3 contracts allowed the deficit to go down they also take into account the November Ballot initiative if you recall one of them had not been included in the mayors budget and it was put on later and that had to do with the mta population adjustment that affected the general fund because of the good news weve had they have been able to let us off the hook let the city off