Lets get straight to steve liesman. Jay powell testimony before the House Services committee will note improvement in the economy saying Household Spending has recovered three quarters of the decline and say this is in part response to federal spending and higher Unemployment Benefits which is running down he said housing has rebounded and Business Investment showing signs of improvement but overall employment and Business Activity with well below the prepandemic levels an the out light is uncertain. He makes special mention of the feds main Street Lending program, a 600 billion program with a backstop from the troo z treasury hell be speaking tomorrow before the house financial Services Committee with treasury secretary Steve Mnuchin and this is required testimony about the cares act where they have to quarterly appear before congress and discuss progress with the lending programs. The terminology, highly uncertain, is that different from what the clair has used in the past. This is t
That, 10 00 eastern, nancy pelosi will try to upstage the president. He will hold a News Conference to announce who will manage the impeachment drive when the senate trial begins next week. There is some gamesmanship involved, the speakers announcement is time to upstage the big event of the day, the trade deal signing. Nancy pelosi wants to keep the focus on the president s troubles, not the president s triumph. The market opens half an hour from now, no fireworks expected, the Earnings Report from big banks largely solid, no big surprises. The dow is going to be down 70. The s p seven, nasdaq down maybe 11. The stock price of target premarket way down. Disappointing holiday sales, stock is down seven but please remember target stock is up 94 last year, almost doubled so even a minor slip is enough to pull it down and that is what we are seeing now. He will be a rock n roll liveaction show and wait until you hear what the democrats said at the debate and what the president said. We ha
Right lets not get top of cutting right lets not forget that the fed has been buying bonds again yet officials still insist that it was that the fed has been buying bonds again yet officials still insist that it was too stable as the funds were safe for water to fund raise for the for the full month rather than a few evil will keep doing well well that stabilizing was at a clip of 60000000000. 00 a month state which is almost as a was at a clip of 60000000000. 00 a month which is almost p. Q. Each year in the Great Recession and lets not forget the medieval pop in the greatest recession and lets not forget the repo populace still isnt over yet as there is a 130000000000. 00 revolving repos the syllabi bill isnt over yet as there is a 130000000000. 00 revolving repos the syllabi trying to reliquefy the Banking System every night the Central Banks banks trying to really liquefy the Banking System every night the Central Bank Balance sheet expanded by over 100000000000. 00 over the past m
Good morning. A group of mps, including some rebel conservatives who were expelled from the party, are preparing legal action if borisjohnson refuses to agree to a parliamentary bill which would require him to ask for a further delay to brexit. The Prime Minister has said he would rather be dead in a ditch than ask for the eu for another delay, beyond the october 31 deadline. Our Political Correspondent matt cole told me why the government is trying find a way to stop another extension to the article 50 process. The law that is being worked on by the commons and passed by the house of lords this week is waiting for royal assent on monday when it is locked into the statute book. At that point, theoretically Boris Johnson, if he does not have a brexit deal signed off by october the 19th will write to them and say he would like an extension, potentially to the 31st of january, three months beyond the current deadline. He said he would rather be deadline. He said he would rather be deadin
Here on bbc news. Good morning. A group of mps, including some rebel conservatives who were expelled from the party, are preparing legal action if borisjohnson refuses to agree to a parliamentary bill which would require him to ask for a further delay to brexit. The Prime Minister has said he would rather be dead in a ditch than ask for the eu for another delay, beyond the october 31 deadline. With me is our political correspondent, matt cole. Just to explain where we are, Boris Johnson looks like he is going to be compelled to ask for a delay but it isnt clear whether there is any loophole out of that . Yes, some people wonder whether he is spending the weekend trying to think his way out of a box in position, as many see him. The law being worked on by the house of commons and passed by the house of commons and passed by the house of lords may be locked into the statute book, by that point, borisjohnson, into the statute book, by that point, Boris Johnson, theoretically, if he does n