The committee will come to order. Without objection the chair is authorized to declare a recess at the committee at any time. I want to remind members of a few matters including some required by the regulations accompanying the House Resolution line 65 which established the frameworks were removed committee proceedings. I dont know if we have gone through this already but i would ask all members on the platform to keep themselves muted when they are not being recognized. This will minimize disturbances while members are asking questions of the witnesses. Members on the platform are responsible for muting and on muting themselves. The staff has been instructed not to mute members except where a member is being recognized and theres inadvertent background noise members on the platform are reminded that they may only attend one hearing at a time. If you are participating today, please remain with us during the hearing and members should try to avoid coming in and out of the meeting partic
[inaudible conversations] [inaudible conversations] the cs authorized to declare a recess at the committee at any time. I want to remind members of a few matters including some required by the regulations accompanying the House Resolution line 65 which established the frameworks were removed committee proceedings. I dont know if we have gone through this already but i would ask all members on the platform to keep themselves muted when they are not being recognized. This will minimize disturbances while members are asking questions of the witnesses. Members on the platform are responsible for muting and on muting themselves. The staff has been instructed not to mute members except where a member is being recognized and theres inadvertent background noise members on the platform are reminded that they may only attend one hearing at a time. If you are participating today, please remain with us during the hearing and members should try to avoid coming in and out of the meeting particularly
China the stock set to add 100 points to the dow in todays session. There is a countdown to election day 41 days to go, former Vice President joe biden heading to North Carolina today, meanwhile President Trump also getting ready to announce his pick for Justice Ginsburg Supreme Court seat, democrats threatening for pack the court if it is filled before election day. Justice ginsburg will lie in her pose at the Supreme Court building and then on friday she will become the first women in history to lie in state at the u. S. Capitol building, also happening on capitol hill, dr. Fauci will testify before the senate at 10 00 a. M. Eastern and Jerome Powell will testify before the house select subcommittee on the pandemic. And the president expected to speak to veterans and their love and a coward. It is a live action show today and Varney Company starts right now. With your help, your devotion and your drive, we will keep on working, we are going to keep on fighting and we are going to kee
Order today overhauling policing in america. Coming up at 8 00 a. M. Eastern, former Senior Adviser to president obama valley Valerie Jared is here and joe biden narrows down his pick for Vice President. Concerns over coronavirus spiking, cases in the United States surpassing 2. 1 million. Now more than 116,000 people have died and the death toll is expected to top 200,000 by october. At 8 30 a. M. Eastern this morning we will get another look the impact is having on economy for the month of may. We will get the numbers to you as soon as they hit the tape and check out the markets impact. Growing tensions between north and south korea, north korea blowing up an interkorea Liaison Office near the border. Mornings with maria is live right now. Maria and stimulus from the Federal Reserve sparking a rally across the globe this morning. European indices high err cross the board. The cac quarante in paris is up 104. In asia overnight markets soared on the hails of comeback and the bank of ja
Board of governors of the Federal Reserve system. We will receive testimony from the secretary of the treasury and the chairman of the Federal Reserve as required under title four of the cares act. Congress has appropriated 3 trillion to protect and support americans to fight the pandemic and also to stabilize the infrastructure of our economic system. Fundingportion of this is authorized under title iv of the cares act which provides resources to loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and support of eligible businesses, municipalities, and tribes. Title iv of the cares act anvided 454 billion as infusion into the Exchange Stabilization fund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketplace and support eligible businesses, states, governments, and tribes. This unique authority known as 13 three authority is authorized under section 13 of the Federal Reserve a