To the upside. Other news coming through about approvals for future houses as well. The asx up 119 points. Thats move along and look at other Asset Classes. Crude trading yesterday with a 33 handle, hasnt had a huge rally since then. Part of that is down to russia and opec looking like they will not be hiking reduction in january. That news helping to propel oil prices up to over 97 in the last six hours or so. ,old remaining where it was just shy of the 1900 level. Thats ahead of the u. S. Election. The u. S. Dollar index marginally down, the Rate Decision coming expecting a 0. 15 cut in the base rate and we do have in anticipation of all that move slightly higher than that, and thats down to a commodity related currency and the crude price helping that along. Lets head over to new york and join karina mitchell. We start with the latest headlines on the pandemic. Starling fell to its weakest in the month, with an economy already reeling from similar measures earlier this year. France
Max, treasury secretary Steven Mnuchin and Federal Reserve chair Jerome Powell on the impact of the coronavirus on the economy. This is two and half hours. This hearing will come to order. Todays hearing is a hybrid format and the hearing room has been configured to maintain the recommended sixfoot social distancing between senators, witnesses witnesses and otheren individuals in the room necessary to operate the hearing which we have kept to a minimum. For those joining remotely a few videoconferencing reminders. Once you start speaking there will be a slight delay before you are displayed on the screen. To minimize background noise please click the mute button until it is your turn to speak or ask questions. If there is a Technology Issue we will move to the next senator until it is resolved. I again remind all senators and our witnesses that the fiveminute clocks still apply and you should, those remote, stall, box on your screen labeled clock that will show how much time is remaini
Stories. Two turkey just crushed. Story, which you and lisa both mentioned, particularly since oppressor, bonds are going nassar gas bonds are going nowhere. The yield curve control is here. Outside of that, the equity markets are doing well. Materials surging off the march low not really disrupted with what has happened with big tech. That is just one segment of the equity market that has faced severe headwinds over the last couple of weeks. It is a big growth story. Tom a mystery enter friday and growth forward. Im completely distracted. You are going to have to save me. We need an update. Garrison sergio over the English Channel right now. I have got a much bigger announcement. Drumroll. I think we have got a birthday today. She kept it very quiet. It is a happy birthday for lisa abramowicz. Lisa thank you. Another pound is too strong to expect a gift from you. Jon i will do my best. Isa a pair of socks great depending on what this Consumer Sentiment survey is coming up at 10 00 sho
Come to order. Without objection, the chair is authorized to declare a recess of the committee at any time. I now recognize myself for an opening statement. Today, a select subcommittee is pleased to welcome our distinguished panel, dr. Ben bernanke and dr. Janet yellen. Dr. Bernanke was appointed chair of the Federal Reserve by president george w. Bush in 2006 and oversaw the Federal Reserves response to the Global Financial crisis. Before his tenure as fed chair, dr. Bernanke served as the chair of president bushs council of economic advisers. Dr. Yellen served as vice chair of the Federal Reserve until 2010 to 2014, before being appointed chair in 2014 by president barack obama. Dr. Yellen also previously served in the white house as chair of the council of economic advisers. This is the first time that either dr. Bernanke or dr. Yellen has testified before Congress Since stepping down from the Federal Reserve these extraordinary times require congress to seek out advice from expert
Now, testimony from Federal Reserve chair Jerome Powell on Monetary Policy and the state of the u. S. Economy amid coronavirus. He spoke about low Interest Rates, unemployment numbers and what future Economic Growth and recovery could look like. Help in front of the House Financial Services committee, this is three hours. So the committee will come to order. Thank you. Without objection, the chair is authorized to declare a recess of the committee at any time. Members are reminded to keep their video function on at all times, even when theyre not recognized by the chair. Members are also reminded that they are responsible for muting and unmuting themselves and to mute themselves after they are finished speaking. Consistent with the regulations accompanying h res 965, staff will only mute members and our witness as appropriate when not recognized to avoid inadvertent background noise. Members are reminded that all house rules relating to order and decorum apply to this remote hearing. T