Is authorized to declare recess of the committee at any time come in all members will have five legislative days within which to his extraneous materials for inclusion in the record. The hearing is for the purpose of receiving the semiannual testimony of the chair of the board of governorboard of govere Federal Reserve system. On the conduct of Monetary Policy and the state of the economy i now recognize myself for three minutes to give an opening statement. After eight years in the largest Monetary Policy stimulus in the history and the most unconventional Monetary Policy in our history, americans recently received disappointing Economic News yet again. It is official, the economy grew at a measly 1. 6 in 201 2,016thn our historic norm is twice that. That takes eight years of subpar growth in eight years of stagnant paychecks and eight years of him replenish savings. Notwithstandinnotwithstanding tn that the fed to come and notwithstanding the personnel. After eight years, there is a
Is authorized to declare recess of the committee at any time come in all members will have five legislative days within which to his extraneous materials for inclusion in the record. The hearing is for the purpose of receiving the semiannual testimony of the chair of the board of governorboard of govere Federal Reserve system. On the conduct of Monetary Policy and the state of the economy i now recognize myself for three minutes to give an opening statement. After eight years in the largest Monetary Policy stimulus in the history and the most unconventional Monetary Policy in our history, americans recently received disappointing Economic News yet again. It is official, the economy grew at a measly 1. 6 in 201 2,016thn our historic norm is twice that. That takes eight years of subpar growth in eight years of stagnant paychecks and eight years of him replenish savings. Notwithstandinnotwithstanding tn that the fed to come and notwithstanding the personnel. After eight years, there is a
Undermining of the Federal Reserve may be a dangerous distraction that jon you are listening to fed chair janet yellen testified before the Economic Committee of congress. Some of the big headlines she serve hero fullterm through january of 2018. She acknowledged a great deal of with the federal infrastructure under president elect trump. She is a staunch believer in the fed plus dual mandate. She says gradual increases in rates are likely appropriate and on questions about the dodd doddfrankshe says diminishes the odds of another crisis. Speaking of the president elect, there was we have been monitoring that. The call for the trump team. So far there have been theifying they said that economic landing team will be announced monday. The domestic landing team will be announced on wednesday. These teams will go to various agencies to work on transition. And an aide also tells bloomberg that trump is having a twohour transition meeting tomorrow. As for those coming and going from trump to
Criticism or in praise. But to undermine the independence and the credibility of the Federal Reserve is a very dangerous action that may be very difficult to undo once it is out there. And i dont believe these are just abtract discussions of the potential for undermining the credibility of a central bank will have a direct impact on the economy and ultimately on our constituents back home. And i believe that members of congress have the added responsibility as elected officials to uphold these important norms that have guided our country for decades. With that i would urge my fellow policymakers here in both the legislative and executive branches to exercise caution and prudence when it comes to these types of krit sicriticisms. Turning to a question, attorney yell yellen, i believe one of the most critical challenges we face in our Banking System today is cybersecurity. We face tremendous threats every single day as i know you are well aware. The warning signs are very evident. One ex
You are welcome. Its countdown. Im manus cranny. Breaking news on the beer market for carlsberg. First half organic revenue rises by 4 . The market had an estimate of 3. 2 . The strategy implemented across andgroup to try to cut cost take cost out of the carlsberg group. The target is to reduce their by 2022. Apital that is making progress. How is their position in russia . Beer volumes declined in the first half in russia. Their share of the market in russia comes in at 34. 8. Organic operating profit rose higher than expected. They are expecting a higher than expected revenue growth, the organic operating profit, in the second half. Russian market share, 34. 8 . Declinedan beer market 2 in the first half. These are the first half numbers coming through. Waiting of ing, we are for those numbers to hit. As soon as we get those, we will bring those to you. Abn amro is the other stock we are watching. Abn amro, let me quickly clarify the numbers, it says it plans to euros as anion interi