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Test. Test. Test. Thank you. Senator, if i could just interject, you mean, youll help us modernize the irs . It would be one of my great priorities. That would be a wonderful thing. I hope thats at least a bipartisan issue that we can all agree on. Since the chairman used part of my time, id like to get this question here. H in 2012, i used the International Tax reform act to help fix the tax code and promote u. S. Economic and job growth and that bill would help to right the ship and make more certain so that u. S. Companies are not at a competitive disadvantage with foreign companies. It would give American Companies ens incentives to create jobs in the United States so they can win globally. I would encourage u. S. Companies to develop and keep rights to their ideas and invenges in the United States rather than shift them over offshore. Do you agree it places u. S. Companies at a competitive disadvantage with foreign counterar counterparts and work with me on International Tax refor
Lets take a look at the trajectory of futures throughout the morning here. Here you have futures going throughout the night. This is the leg lower than i am about when the testimony came out. She talked about the financial conditions of being a challenging at this point in time. She tried to walk the line between being cautious and leaving the door open to rate increases. Welooks like that is when saw the leg lower. Things are holding up relatively well. Take a look at the imap sectors on the move this morning. We have got utilities lower. They tend to fall when we get higher rates. Leaving,re is technology is leaving, financials are coming back as well p are a lot of groups have suffered in recent days and are coming back. Tech in particular because many of the Tech Companies are contributing the most to the gains we are seeing in the s p 500. Microsoft, apple, amazon. These are the beatendown names we have been watching recently, rebounding this morning. Treasuryor yields are coming
Of the conduct of Monetary Policy and i recognize myself for three minutes. We heard president obama taken economic victory lap but the people are having none of it they are tired of hearing from the out of touch ruling class in washington how good things are when theyre reality is vastly different not listed in the fact or president ial appointee a hope itll follow suit with quantitative easing of the zero interestrate policies working families paychecks have declined. One added six is on food stamps and there hasnt been a single year but one published report that there is no parallel for this since world war ii or the beginning of the republic. So with the lgbt growth for struggling working families. And to condemn the fed decision 25 basis points to make it appropriate to revise the fomc but given that article one of the constitution gives congress the power to coin money and regulate the value. That this set the fed to adopt a policy that is transparent to end a sustainable this is
Oil is nearly unchanged. We begin with janet general on the hymn, day one of congressional testimony. The market awaits any change in Interest Rate policy. Disney and time warner both report earnings but fail to catch a bid. Yes, earnings were beat. Most stocks sharply lower. Well fill you in. Trumpsanders taking the state t. Race moves on to South Carolina and nevada. But first up, were less than an hour away from generals spy annual testimony on the economy and Monetary Policy. This morning, shell appear before the House Financial Services committee. Tomorrow, of course, the Senate Banking committee. In her prepared remarks, she says financial conditions have recently become less supportive of growth and a lower path of fed funds rate would be appropriate if the economy were to disappoint. But she adds, she still sees moderate growth ahead 245 would allow the fed to pursue gradual rate increases. We will bring you live coverage at 10 00 a. M. Eastern. She talks about slack in the lab