noise the committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their
noise the committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their
Midnight is at 23. Thank you very much for your attention and companionship. We will go to the meiz ekhetaz studio together with my colleagues in this group. We are with you. We are with you. Thank you very much, mrs. Khalji. Greetings and respect. To all good viewers of the meiz ekhetaz program, in the continuation of special programs that we are going to review the seventh program. Today we want to review the banking issues. Our time on channel 1 is over. I invite all viewers to follow us on khabar channel. Thank you and thank you. Well, you are with the economy desk. Today in the Islamic Council of companies, the institutions of Financial Institutions affiliated to punks were banned from buying shares of banks or Credit Institutions of their choice during the review of the program they are reviewing. This has happened on different days, we want to talk about the banking situation, what happened today, on macro education , i would like to see in your presence the imbalance of the ban
At an alltime high. The company has lost more than 40 of its value since christmas. Commodities come back. Run materials are said to snap a fiveyear losing streak but can the rally be sustained in 2017 . This is the european open. Were half an hour away from the european open. The second to last trading day of the year. A weaker session in hand when we get there. Asian session was positive and only mildly so and there was a negative story coming out of tokyo. Perhaps that is captivating investors minds in europe. 8 of anese currency up percent against the u. S. Dollar. We get a glimpse of some of those moves, the nikkei down by 1. 3 . Following weakness in the u. S. As well where we saw the s p under pressure, down by. 8 of a percent. 2. 3 . The dow falling yesterday as well by more than 100 points further away from that 20,000 mark. U. S. Futures looking sluggish fairly flat, i should say. The japanese yen is on the move as well. Of ahe end up by. 8 percent. Looking some nervousness c
Year, but the numbers seeing five. Hikes is now at so still below there. As for inflation, some people closely at the fact that the fed talking about the goal is symmetric. The fed notes in its policy is ements that inflation near 2 , the core just below 2 inflation to stabilize around 2 . As for the economy, the forecast not change very much. Unemployment is 4. 5 for this two. And the next weve got gdp growing at 2. 1 in 2017 and in 2018. Again, the only change on the forecast from december is that the core is seen rising to 1. 8. Rom so now big changes there. Neal, of course, has been the reason he has been in favor of not changing when he looks s at wages, when he looks at average Hourly Earnings, index and more, he sees forces that are not inflation higher, wages arent rising that much. In the policy statement, the measures of labor the nsation remain low, so fed acknowledges this but seems to be pressing forward regardless in terms of hiking rates, again, looking for three rate hi