Social media with Francis Scott ketaco thrics to the national anthem, the star spangled banner. Slave owner with the giants x were sprayed on the base of his statue and the phrase stolen land, stolen people. You can hear the loud cheers from the crowd there. The first statue that we came across was grant, toppled, lying in the pathway here at golden gate park. Also a lot of antipolice graffiti, profanity, and acronym found on the base. Among loofthis activity capture here on social media. At this hour there are no demonstrators or people around. Live in San Francisco, betty yu, kpix 5. Betty, thank you for that. A live look at the be okay arena in tulsa, oklahoma tonight. This 19,000seat indoor arena is expected to be at capacity for president trumps First Campaign rally since march. The rally still going on despite concerns about civil unrest and coronavirus cases, absolutely spiking in oklahoma. Lets check in now. Veronica, what can you tell us . Reporter tensions are heating up in o
Forward guidance. My questions are first, what are you hoping to learn, how might that change your response and third, how close is the committee to reaching a decision on a more concrete Forward Guidance and whether yield caps might reinforce that guidance . First i would say we think Monetary Policy today is wellpositioned to support the economy in this challenging time. If we didnt think that of course we would change her policy now. As you know we lowered her policy rate very quickly, quickly than others and we said we will keep it there until the economy has weathered the effects of the virus and on track to achieve our goals. You can see in the dog plot as i think you pointed out the overwhelmingly the participants expect as a baseline expectation no rate increase at least through 2022 and if you look at surveys and forecasters are market produce reports, Financial Market prices et cetera, those reflect rates at the effective lower bound. The first thing is Monetary Policy is in
Jerome powell announced that Interest Rates will remain near zero for the foreseeable future in order to support Economic Growth following the coronavirus pandemic. This is conference runs one hour. Good afternoon, everyone. Thank you for joining us. Hour. Our country continues to face a difficult and challenging time as a pandemic is causing tremendous hardship in the United States and around the world. People have lost loved ones and many millions have lost their jobs and there is great uncertainty about the future. At the Federal Reserve, we are strongly committed to using our tools to do whatever we can and for as long as it takes to provide some relief instability to ensure the recovery will be a strong as possible and to limit lasting damage to the economy. T lasting damage to the economy. The most important response to the crisis has come from a healthcare workers and on behalf of the Federal Reserve look me express our dedicated individuals who put themselves at risk day after
Message comes just two weeks after this. Listen to his reaction to being hit by a rubber bullet during the may 29th protests and while he is down, a flash bang thrown at or near him. He is one of many who say they were not part of the violence directed at police that day but were hit. My god, somebody shot me. Why . Because i am a good 10, 15 feet away from anywhere else. And 40 feet away from the police. The only way they would have happenedrgeted me the mayor announced his proposal to ban rubber bullets is moving forward. Demonstrators say the proposal is not enough. Not enough. Not enough. You know, some of these cops abuse the power. Reporter they decided to sit to show their refusal to leave until he came out to listen. The problem was the mayor was not home. He was in a City Council Meeting to discuss the use of force between police and protesters. Unfortunate, unnecessary. A misuse of force. Someone needs to be held responsible. You dont do that to people. You dont i mean, i saw
Do you think its important that congress extend the relief of extra Unemployment Benefits . I think we try to keep our comments on fiscal policy at a high level. Ill come to your specific question but i would just say this. This is the biggest economic shock in the u. S. And in the world, really, in living memory. We went from the lowest level of unemployment in 50 years to the highest level in close to 90 years and we did it in two months. Extraordinary. And appropriately, the response from fiscal authorities has been large, forceful and very quick by the standards of these things. Roughly 3 trillion congress has authorized and thats benefiting households, laid off workers, small, medium and large businesses, hospitals, state and local governments. 14 of gdp, its in a class by itself in terms of both the size and speed of it. Its also pretty innovative. Both the ppp and the Unemployment Insurance are quite innovative in the american context. There were difficulties in implementing the