This hearing is call to order. Welcome. 50 years ago, exactly what each week from today, at approximately 9 30 am, 2 astronauts, sitting atop a rocket the size of a navy destroyer, packing 7. 5 Million Pounds of thrust, took off from Kennedy Space center in florida. Roughly 1 Million People had gathered on the ground to watch this historic event. That included half of the u. S. Congress. These 3 astronauts, as one of the newspapers put it at the time, carried with them the hopes of the world. The u. S. 1969. The year before i was born. The astronauts were now im strong, but, and michael collins. And the mission was apollo 11. Armstrong and aldrin went on to make history a little more than 100 hours later. When with more than one third of the earths the earth watching, word listening live. They became the first humans to ever set foot on the moon. The apollo 11 mission would go on to make history again. A little less than 100 hours after that, as the First Mission not only to put men on
50 years ago, exactly what each week from today, at approximately 9 30 am, 2 astronauts, sitting atop a rocket the size of a navy destroyer, packing 7. 5 Million Pounds of thrust, took off from Kennedy Space center in florida. Roughly 1 Million People had gathered on the ground to watch this historic event. That included half of the u. S. Congress. These 3 astronauts, as one of the newspapers put it at the time, carried with them the hopes of the world. The u. S. 1969. The year before i was born. The astronauts were now im strong, but, and michael collins. And the mission was apollo 11. Armstrong and aldrin went on to make history a little more than 100 hours later. When with more than one third of the earths the earth watching, word listening live. They became the first humans to ever set foot on the moon. The apollo 11 mission would go on to make history again. A little less than 100 hours after that, as the First Mission not only to put men on the moon, but to bring them home safely
[gavel pounding] this hearing is call to order. Welcome. 50 years ago, exactly what each week from today, at approximately 9 30 am, 2 astronauts, sitting atop a rocket the size of a navy destroyer, packing 7. 5 Million Pounds of thrust, took off from Kennedy Space center in florida. Roughly 1 Million People had gathered on the ground to watch this historic event. That included half of the u. S. Congress. These 3 astronauts, as one of the newspapers put it at the time, carried with them the hopes of the world. The u. S. 1969. The year before i was born. The astronauts were now im strong, but, and michael collins. And the mission was apollo 11. Armstrong and aldrin went on to make history a little more than 100 hours later. When with more than one third of the earths the earth watching, word listening live. They became the first humans to ever set foot on the moon. The apollo 11 mission would go on to make history again. A little less than 100 hours after that, as the First Mission not o
Going to take hold with wages and employment. I think the market is waking up to the fact that the plan that the fed put in place is actually probably justified. We have more policy uncertainty which can naturally lead to more Economic Uncertainty which will lead to more market uncertainty and that will end up with more volatility. I would argue it is not really done. These things take time. Its hard to have such a this locating move without leaving all kinds of wreckage around that you are not expecting. If the bond market and stock market are pricing in lower longterm yield, that could lead to higher valuations. I dont see a financial crisis on the horizon. But we are paying close attention to it. I think this is much more, but qe unwind getting priced in. It used to be the boj was buying. While that is unwinding, the entire market is realizing that this decline that came from qe that is stepping away. ,we have to ready for more volatility. Jon get ready for more volatility. Around t
Productivity, the Patient Protection and Affordable Care act or the aca, has a provision in it that the Current Administration is not taking any actions to remove, which sets payment reductions dooring to the growth and general productivity and payment reductions to Healthcare Providers, and as the trustees say, Healthcare Providers will have to realize productivity improvements as a fasterraise than experienced historically for this policy to avoid leading to serious erosion in the access to care and quality of care. Very serious issues, and then finally let me cite the i like to thong the as the Public Trustees in exile. Former trustees who wrote a paper before they saw the report yesterday but made a very important point, which is that delaying action on medicare fiscal challenges, until a crisis is imminent, which too often has been congress approach, would not only have adverse impacts on beneficiaries but would severely restrict the remedies available to address the problem. Wait