Chairman Jerome Powell will update the committee on Monetary Policy develop and the state of the u. S. Economy. It has always been four months since the last Humphrey Hawkins hearing, but we are seeing a different economy today. One that has been racked by the physical and Economic Impact of the covid19 pandemic, and ensuing shutdowns. Chairman powell, you have stated that the Federal Reserve is strongly committed to using our tools to do whatever we can and for as long as it takes, to provide relief and instability to ensure that the recovery is as strong as possible. Additionally, the fed has purchased more than 2 trillion in treasury and mortgage began ins since midmarch. Because of this, the Balance Sheet has expanded to more than 7 trillion. Congress, the administration, and regulatory agencies have taken action to protect and stabilize the infrastructure of our Economic System. The cares act has been central to that effort, and recent stats indicate that our labors are working. I
Racist video showing a supporter shouting white power. This as the president also comes under fire over those bombshell reports that the white house was told russia was paying bounties to kill u. S. Troops in afghanistan and did nothing. Demanding justice. Thousands taking to the streets, shutting down a highway in colorado protesting the death of Elijah Mcclain as newly obtained Surveillance Footage shows the 23yearold shopping in a store right before the deadly encounter with police. Breaking news, deadly attack. Four gunmen stormed the pakistan Stock Exchange. The latest this morning. Unsafe skies . Ngdiancing rulesst airlines epe travel fothe holiday weekend. And the b. E. T. Awards. The fight for Racial Justice taking center stage from Jennifer Hudsons showstopping performance to a new anthem from alicia keys. Plus, Michelle Obama presenting beyonce with the humanitarian award. We have to vote like our life depends on it because it does. Queen bey dedicating her speech to proteste
Time those are good too if demand from the treasury doesnt come back in coming months, whats the longer term implication for Interest Rates i know youre reticent to give any forecast on Interest Rates, which i understand, but give us a tone about the impact, the correlation there. There seems to be flying of demand for our paper i wouldnt want to speculate about what Interest Rates might do were the worlds reserve currency and in times of stress people want to own u. S. Treasury obligations and thats been the way that is for a long time. Even if some of the problems as in the last crisis, problems originated here, notwithstanding that we have the strongest, economy, most liquid markets. One last question ill yield my time back. Youve been gracious with your candor and your time i heard a conversation in this hearing about labor. Our state was one of the first ones to reopen one of the inhibiters to supplying the demand that i think is out there and i think were proving that is getting
Other news just days after libyas un recognized government made significant gains the head of the rival that ministration its at war with arrives in moscow for talks. Also where more than 7000000 people around the world are now known to contract its coronavirus but a record surge isnt stopping india lifting restrictions. And for premier League Champions Manchester City are hoping for a win in the courtroom the club is aiming to overturn a 2 year ban from playing in European Competitions. We begin this news with an unveiling of legislation in the u. S. Congress that could change the future of how Police Departments operate it follows protests demanding justice for the death of the unarmed black man george floyd 2 weeks ago the formalities started with house members pausing for 8 minutes and 46 seconds to own a mist of. Floyd who was pinned to the ground by a Police Officer with the needs of his neck for that same time the democrats are promising legislation that if approved would make i
Significant new gains the head of the rival Administration War with has arrived in moscow for talks. Also ahead a record search in corona virus cases in india but thats not stopping the government from lifting restrictions. On time how much now have all the sporting kid in class and fears promoters says. While there could happen this year and macau. We begin in texas where a Memorial Service for george floyd is now underway in his hometown last to show you the live pictures from the Public Service at the fountain of praise church there mr floyds body is lying in an open casket and small groups are taking turns to pay their respects john hendren is in texas where that big crowd is expected for that Memorial Service he joins us from whos done so john just take us through what were expecting to happen in the coming few hours. Well right now youve got a crowd snaking maybe maybe you can see some of them behind me theres a a crowd snaking all around this building of hundreds of people and i