Authorized to declare a recess at any time. I want to thank everyone, especially our witnesses, for joining us today for our committees hearing. I want to make sure to note some important requirements. By saying standing house and Committee Rules and practice will commit continue to apply through hybrid proceedings. Regulations require members to be visible through a video connection throughout the proceedings. Please keep your cameras on. Member to remain muted until you are recognized to minimize background noise. In accordance with the rules established under hr 965, stafford been advised to meet participants only in the event there is inadvertent background noise. For those members here in the room, i urge members and staff to wear masks while in the hearing room. I thank you in advance for your commitment to a safe environment for all here today. Mnuchin, administrator carranza, thank you for being here today. I want to give a sincere thank you of both agencies who have worked tir
I now recognize myself for an opening statement. Chair,his tenure as fed he served as the chair of president bushs council of economic advisers. In their first congressional testimony since leaving the Federal Reserve, former chairs ben bernanke and janet yellen called on congress to take action to encourage economic recovery. To 2014 before being appointed chair. In 2014 by president barack obama. Dr. Yellen also previously asved in the white house chair of the council of economic advisers. Time eitherfirst dr. Bernanke or dr. Yellen have testified before Congress Since stepping down from the Federal Reserve. These extraordinary times require congress to seek out of experts with extraordinary experience. As Congress Works to end the economic crisis and enable a strong recovery, we are fortunate to benefit from their individual insights and gain from their unique position as Federal Reserve chairs in the last economic crisis and recovery. I want to thank both of them for agreeing to te
Come to order. Without objection, the chair is authorized to declare a recess of the committee at any time. I now recognize myself for an opening statement. Today, a select subcommittee is pleased to welcome our distinguished panel, dr. Ben bernanke and dr. Janet yellen. Dr. Bernanke was appointed chair of the Federal Reserve by president george w. Bush in 2006 and oversaw the Federal Reserves response to the Global Financial crisis. Before his tenure as fed chair, dr. Bernanke served as the chair of president bushs council of economic advisers. Dr. Yellen served as vice chair of the Federal Reserve until 2010 to 2014, before being appointed chair in 2014 by president barack obama. Dr. Yellen also previously served in the white house as chair of the council of economic advisers. This is the first time that either dr. Bernanke or dr. Yellen has testified before Congress Since stepping down from the Federal Reserve these extraordinary times require congress to seek out advice from expert
The Coronavirus Relief packages passed by congress. Good morning. I call this hearing to order. Without objection the chair is authorized to declare a recess at any time. I want to thank everyone especially our witnesses for joining us today for our committees hybrid hearing. I want to make sure to note some important requirements. Let me begin by saying that standing house and Committee Rules and practice will continue to apply during hybrid proceedings. House regulations require members to be visible through a video connection throughout the proceeding. So, please, keep your cameras on. And remember to remain muted until you are recognized to minimize background noise. In accordance with the rules established under hr965, staff have been advised to mute participants only in the event there is inadvertent background noise. For those members here in the room, i urge members and staff to wear masks while in the hearing room and i thank you in advance for your commitment to a safe enviro
Ladies and gentlemen, the president of the United States. President trump thank you very much, everybody. It is not too hot, but it is pretty warm. Then q. So we had a big day on the stock market. Ins are coming back, and very rapidly. Much sooner than people thought. People are feeling good about our country. People are feeling good about therapeutics and possible vaccines. Quite going to go over a a bit and may be to questions if we have time and its not too hot. Today i signed legislation and an executive order to hold china accountable for its oppressive actions against the people of hong kong. Hong kong economy act, which i signed this afternoon, passed unanimously through congress. Law gives my administration powerful new tools to hold responsible the individuals and entities involved in extinguishing hong kongs freedom. We have watched what happened. Not a good situation. Their freedom has been taken away. Their rights have been taken away. And with it goes hong kong, in my opin