The economy. It will come as no surprise to you, chair yellen, that improving Economic Growth is a key priority for congress this year. 2016 was the 11th Consecutive Year that the u. S. Economy failed to grow by more than 3 . One way to improve our Economic Growth is it to study and address areas where regulations can be improved. Since the financial crisis regulators have imposed thousands of new pages of regulations. We all need to better understand the combined impact of these rules on lending, liquidity, cost for small Financial Institutions, and broader Economic Growth. It is time to reassess what is working and what is not. Im encouraged by President Trumps executive order on Core Principles for regulating the Financial System. Directing the treasury secretary in consultation with the heads of the other member agencies of asoc including you to report on how well existing laws and regulations promote or inhibit Economic Growth will be a helpful step as we move forward. Financial r
[gavel pound] the committee will come to order. Today we will receive testimony from Federal Reserve chair janet yellen, regarding the feds semiannual report to congress on Monetary Policy and the state of the economy. It will come as no surprise to you, chair yellen, that improving Economic Growth is a key priority for congress this year. Priority for congress this year. 2016 was the 11th Consecutive Year that the us economy failed to grow by more than three percent. One way to improve our Economic Growth is to study and discuss areas where regulations can be improved. Since the financial crisis regulators have imposed thousands of new pages of regulations. We all need to better understand that combined impact of these rules on lending, liquidity, cost for small Financial Institutions and broader Economic Growth. It is time to reassess what is working and what is not. I am encouraged by President Trumps executive order on Core Principles for regulating the Financial System. Directing
There is a lot of uncertainty. Uncertainty is the enemy. Shery does big pharma have a prescription for brexit side effects . It is all straight ahead on bloomberg best. Shery hello, and welcome. I am shery ahn. This is bloomberg best, your weekly review of the most important business reviews, analysis, and interviews from Bloomberg Television around the world. This week has been all about digesting last thursdays u. K. Vote to leave the European Union. On monday, the market moved in uncertainty, and nowhere else were things more uncertain than in britain, with the leadership was thrown into chaos. Nejra it is interesting what the next step will be, because logically the next step would be for the u. K. To trigger article 50 and actually start those negotiations on leaving the eu. Actually, other governments in europe are not expecting David Cameron to do that when he needs other eu leaders on a meeting on tuesday. What they will want is some kind of plan for what happens next. John the
With specials special covers. Scarlet now to the market minute. U. S. Stocks closing at their best levels in the session, a surge in the last 20 minutes of trade. And the s p 500s best day in a month. And you have s p 500 groups higher, everything from utilities although it to financials. All the way to financials. Joe and the end of the day, moving across the board. Alix and the rally started in asia, spread in europe, and now spread to the u. S. Vix lostcks rally, the steam, but now it is on track for the biggest monthly climb since august, even though it went down today by about 70 . 17 that was what we had a dramatic selloff with china, so that was to Pay Attention to. In terms of bank, you had goldman as a big mover, jpmorgan come all of these guys adding a little under 40 points. Joe a quick look at an interesting bond, the ecb opening up a waiver for greek banks. This is a three day look at the price, not the yield on the 10 year bond, and you can see a rally today. Nothing very
Corporate tax rate. It is an effort to keep businesses investing. Osborne said he expects the results of the Eu Referendum and want to mitigate the Economic Impact of brexit. C and China Investment securities are in talks of a possible merger. The firms have around 20 billion of assets. Has declined to comment. There is no response from cis. Global news 24 hours a day, lets take a check in on the markets, starting with european stocks. We can see how they are performing. Of steam. St a bit i want to get the ftse 100 up. It is close to entering able market. It is up 19 from a february low. Commodity producers are the best performers on the stoxx 600. Heading lower. Italian banks in particular being driven down to record lows amid concerns they will be under pressure to raise capital. Take a look at what is happening in commodity markets. Forer topped 21 an ounce the first time in two years. Gold is rising. Seeing Brent Holding above 50 a barrel. Anding an eye on sterling dollar yen. See