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 four 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. Fundingportion of this is authorized under title iv of the cares act which provides resources to loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and support of eligible businesses, municipalities, and tribes. Title iv of the cares act anvided 454 billion as infusion into the Exchange Stabilization fund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketplace and support eligible businesses, states, governments, and tribes. This unique authority known as 13 three authority is authorized under section 13 of the Federal Reserve a
Federal reserve. Thank you, chair powell, for coming to our committee today to testify on the economy. We know youre on a tight schedule and in order to keep you on schedule and ensure all members have an opportunity to ask questions, i ask unanimous consent to deviate from the fiveminute rule. Members will be recognized during the questionandanswer succession for three minutes without objections and the Ranking Member and i will be recognized for five minutes instead of ten. So ordered. Per agreement we will reduce our time for opening remarks and both be recognized for three minutes. I know yield myself three minutes which i will not use, but once again, thank you for being here. Its been seven years since the chair of the Federal Reserve has appeared before this committee and we are very grateful for your being willing to do that. And i want to say at the outset, im going to submit my written testimony for the record to save time. But i also want to make sure you know we wholehearte
Hour plus wework woes the shareholder wants to shelf the ipo well have those details and discuss them later its the momentum crush. Investors are fleeing the stocks with the biggest gains and could be a warning sign for the Broader Market so Pay Attention power lunch starts right now welcome to power lunch. Stocks are under a bit of pressure take a look at the nasdaq. Thats getting hit the hardest as the momentum gains are selling off. On the flip side, we have small caps continuing their outperformance from yesterday. Up by 1 two headlines affecting your money. Stocks did jump higher on a glimmer of hope in trade talks but then they turned right back lower when President Trump said that he has fired the National Security adviser john bolton over policy differences. That news also sending oil sharply lower. We are live to wrap up what has been yet another very tumultuous day. Thats right. Another dramatic departure from the Trump Administration we got a little more context here we hear
Reporting on the life and career of Robert Mueller. Washington journal is next. Host the flag halfstaff today in honor of john paul stevens. Democrats and the white house reached a budget deal allowing the government to borrow beyond current limits, green lighting additional spending in the coming years. As we take you through what that means for the fiscal house, we spend the first hour hearing about your personal fiscal house. Give us a call and tell us how much debt you carry and how concerned you are about it. Phone numbers different this morning. If you carry no debt, 202 748 8000. If you carry below 50,000 in debt, 202 7488001. Andou carry between 50,000 100,000 in debt, 202 7488002 , and if you are over 100,000 in debt, 202 7488003. Catch up with us on social media, on twitter cspanwj and on facebook at facebook. Com cspa n. Good Tuesday Morning to you. Start calling in. Let us know how much debt you have. We will give you a sense of the overall personal debt facing american fam
Also tomorrow, the senate is expected to vote on the 9 11 Victim Compensation fund. In the house, legislation on Retirement Savings plans and border security. Watch the house live on our companion network cspan2. Tomorrow, Christopher Wray will testify in a hearing. Live coverage will be on cspan 3, starting at 10 00 a. M. Coming up on wednesday, the former special Counsel Robert Mueller testifies before the House Judiciary Committee and the house intelligence committee. That will begin at 8 30 a. M. Eastern, live on cspan and on our companion network, cspan3. It will also be online at cspan. Org. Listen with the free radio app. In 1979, a Small Network with an unusual name rolled out a big idea. Let they make up their own minds. Cspan opened the doors to washington policymaking for all to see, bringing you unfiltered content from congress and beyond. A lot has changed in 40 years, but today that big idea is more relevant than ever. On television and online, cspan is your unfiltered vi