To this virtual hearing the honorable steven mnuchin, secretary of the department of treasury and the honorable jerome powell, chairman of the board of governors of the Federal Reserve system. We will receive testimony from the secretary of the treasury and the chairman of the Federal Reserve as required under title iv of the cares act. Congress has appropriated 3 trillion to protect and support americans to fight the pandemic and also to stabilize the infrastructure of our economic system. A large portion of this funding is authorized under title iv of the cares act which provides resources for loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and programs in support of eligible businesses, states, municipalities, and tribes. Title iv of the cares act provided 454 billion as an infusion into the Exchange Stabilization fund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketpl
Speak in the public are via available by phone call by calling 18882045984 and the access code is 3501008. Press pound and pound again. When you are connected, dial 1 and 0 to be added to the queue to speak. You will be lined up in the system in the order you dialled 1 and 0. While you are waiting t system will be silent. The system will notify when you are in line and waiting. All caller wills eare main on mute until will remain on mute until the line is open. Everyone must account for time delays and speaking discrepancies between live coverage and streaming. Best practices are to call from a quiet location, speak clearly and slowly and turn down the television or radio. Alternatively, you may submit Public Comment in either of the following ways. Email ne at erica. Major sfgov. Org. That will be included in the legislative file if you submit via email. Or you can send to city hall 1 carlton hall. President thank you, ms. Major. I neglected to say today is may 18, 2020. Colleagues, b
[gavel] good afternoon and welcome to the land use and Transportation Committee of the San Francisco board of supervisors. I am the chair of the committee, supervisor aaron peskin joined by vice chair supervisor safai and Committee Member supervisor dean preston. Our clerk is ms. Erica major. Madam clerk, do you have any announcements . Clerk yes, due to the covid19 Health Emergency and to protect Board Members, City Employees and the public t board of supervisors legislative chamber and Committee Room are closed. Supervisors will be participating in the Virtual Meeting to the same extent as if they are physically present. Channel 26 and sfgov tv are streaming the number across the screen. Comments or opportunities to speak in the public are via available by phone call by calling 18882045984 and the access code is 3501008. Press pound and pound again. When you are connected, dial 1 and 0 to be added to the queue to speak. You will be lined up in the system in the order you dialled 1 an
Last weeks big rally with saudi arabia and russia feud over cuts the oil market taking a hit today. We do have full Team Coverage of these markets for you. Bob and rick covering the action in stocks and bonds. Steve on the latest economic fall out from the virus. Bob, well kick it off with you and this rally that just keeps building it started early on we got right up great overseas numbers. When Governor Cuomo started talking a couple of hours ago, we moved up on his comments on hopes for plateau. The market took it positively. I want to point out that we are, i call it markets in the middle. Were now 20 off of the lows from the february 19th high, were now down 22 remember at one time we were down 35 a bull market to bear market to i dont know how to characterize characterizeize this morning were 20 off the lows the most beaten up are rallying the most retailers they are a big today wayfair up best day since march 26th for the banks. Here are some of the regional banks. Sta stap stap
Between 5 and 7 . That kind of sets you up for your morning. Dollaryen, safe haven bid full in play. The yen and this was see the safe haven of choice. The long end of the curve taking more of that safe haven demand. Crude rolling over now. You have the virus, what is happening between opec and russia, and now a travel ban, which is going to destroyed jet fuel demand. Really taking it on the chin. Time now for global exchange. We are going to bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with all of this mornings top stories. We begin in washington, where President Trump suspended travel from europe for the next 30 days, effective friday at midnight. The been excludes the you could the ban excludes the u. K. Pres. Trump to keep new cases from entering our shores, we will be suspending all travel from europe to the United States for the next 30 days. The new rules will go into effect friday at midnight. Alix joining me as kevin cir