31 was exceptionally important. I spoke to the vice chairman yesterday, and hes really enthused about expanding on a lot of this monetary mumbojumbo. It is an important speech, but the backdrop, you nailed this weeks ago, is the massive case build up in the United Kingdom that the Prime Minister talked about yesterday. Im sorry, the landscape changed yesterday when he went out to march of 2021. Jonathan the outlook for europe gets a little bit worse. The data on the Services Side backing that up. From my perspective for the Federal Reserve, the message they want to send if things get the message they want said, if things get better they want to send, if things get better. Tom how many times will we mention it . Jonathan i lost count. Lisa, will you count it . Lisa no, but im going to let tom know that. Tom 47 times. Lisa there you go, 47 times we mentioned fiscal stimulus. Jonathan just to clear this up for our listeners, our audience worldwide, tom keene has not counted how any times.
I call this hearing to order. This hearing will be a little bit different. It is perhaps the first congressional hearing during the extenuating circumstances of the pandemic. We have a sparse crowd reflecting the committees inherence to the rules put forth by the attending physician. Staff forthank patience and understanding as we work through the logistics involved in holding this hearing, which is a critical part of the committees ongoing oversight of the Intelligence Committee community. Afternoon, we move to a closed session. Aeir absence now is not reflection on the importance they place on this matter. We have asked members to watch as much as they can of the hearings from their offices, only coming into the hearing room to ask questions. I would also like to think the press corps for your accommodation of the restrictions we are placing as we seek to fulfill our requirements to hold this nomination hearing in an open setting, or at least as open as current circumstances allow. M
National counterintelligence and security center. The Senate Intelligence committee considered the of texas congressman John Radcliffe to be the next director of National Intelligence. Since august, the position has been occupied by officials in the absence of a senateconfirmed director. Representative radcliffe was asked about whistleblowers, his view on russian interference and the origins of the coronavirus as well as his ability to be nonpartisan as the nations top intel chief. This hearing will be a little different. It is perhaps the first congressional hearing held during the extenuating circumstances of a pandemic. We have a sparse crowd and an expanded dais reflective of the committees adherence to guidelines put forward by the rules committee and attending physician. We thank our members and staff are there patience and understanding as we work through the logistics involved in holding this hearing, which is a critical part of the committees ongoing oversight of the Intellige
Congressional hearing held during the extenuating circumstances of a pandemic. We have a sparse crowd and an expanded dais reflective of the committees adherence to guidelines put forward by the rules committee and attending physician. We thank our members and staff are there patience and understanding as we work through the logistics involved in holding this hearing, which is a critical part of the committees ongoing oversight of the Intelligence Community. Members will be joining us on a rotating basis throughout the morning. Again, this afternoon, as we move to close session. Their absence now is not a reflection of the importance they place on this matter. We have asked members to watch as much of the hearings as they can from their offices, only coming into the hearing room to ask questions. I would also like to thank the press corps for your accommodation of the restrictions we are placing as we seek to fulfill our requirements to hold this nomination hearing in an open setting,
Your equity market slightly negative on the s p 500 for the second or third time this week, waking up and looking at china. To the data and commentary around that economy right now. New loans extended on chinese banks ranging to the lowest since 2009, there are concerns about what is developing in the worlds secondlargest economy. Tom you look at the income statement dynamics and the Balance Sheet statement dynamics. I agree. I believe i mentioned this the day before. The flows on the Balance Sheet in and out are what matter. This is fbi from us to them off a cliff from them to us. Maybe not a cliff, but it is down. Jonathan the data dropped in the last hour. The response clear from many on the south side. Stop gin weighing in. We will see. We have not seen it. Lisa what kind of stimulus when they are concerned about debt load in local governments . If they want to move away from leverage and create a more sustainable economy, how do they stimulate the economy where you look at these l