So leaders had a much Better Direct sense of what the people actually thought. You can see a lot of polling data in this and in flushing out exactly what it was americans thought. I will focus a lot on Public Opinion and then we will talk about policy as a reflection of Public Opinion. At the start of the war in europe, my argument is there were two basic positions held almost unanimously by the American People. They wanted britain and france to win the war, to defeat germany, and they did not want the United States to have to fight in that war to make it happen. Over the course of the two plus years of this debate, nothing that happened really change fundamentally, those two points of view. There will be changes in American Opinion, but those two fundamental views remain the same. Even on the eve of pearl harbor, most Americans Still wanted to avoid direct american involvement as a belligerent in world war ii. The great debate moved the American Public in the direction of risking war,
More important to traders . The cash trade is one hour away. Thats get your top headlines for you from the bloomberg terminal. Pressing for concessions, stimulus talks in the u. S. At an impasse with the white house and democrats still far apart on major issues. President trump prepares to take unilateral action to extend jobless aid. King of spinoff. Siemens gets a boost from its Software Unit as adjusted earnings climb a prevent 8 for the quarter. We will talk with the cfo shortly about results and plans to list more parts of his business. Plus, we will speak with the bank of england governor, Andrew Bailey, later today, as the u. K. Central bank makes its Rate Decision. What have you got on the boe here . Annmarie as expected, they maintain their benchmark Interest Rate at. 1 . This is what we were expecting. They are keeping their total bond purchases. The target is unchanged at 745 billion pounds. Of course, this is what we were expecting. Now, we have the august minutes coming in
Total bond purchase target to 745 billion. Beforewaiting until 2 30 the governor comments to journalists. We will get more details on exactly what the bank was thinking at that point, but theres obviously speculation swirling that we could see as far as negative rates. Qe byoted 81 to expand 100 billion. It will be interesting to know whether that one is actually for more qe at that point. The data in the moment very weak. We saw the cpi data earlier this and thatedibly weak, negative gdp print for april. Remember, the bank and the asernor more broadly seen more optimistic on the economy in the u. K. , but the bank is ready to take further action is needed to aid the economy. That is what weve got so far. Jonathan the pound filling the gap lower, turning negative by just 0. 1 against the u. S. Dollar. Get me to august for the next big bank of england sit down. We expanded qe by 100 billion. Do they have to go again . Guy the expectation is they probably do have to go again. In many way
And up to 200,000 deaths. The president listening to his medical advisers and he has adjusted policy. The social distancing rules will be extended until april 30th. Therefore, the shutdown of the economy will continue well beyond easter. The president says the recovery will start by june 1st. On the markets, expect continued volatility. We have certainly seen that already today. At one point early this morning, futures showed a loss of a couple hundred points. Now we are looking at a gain at the opening bell of a couple hundred points. That would be almost 1 . A similar gain, better gain, actually, for the nasdaq, up about 1. 25 and the s p also up over 1 . A rally at the opening bell. Investors seem to like the idea of more pain now so we get out of it faster. The other big financial story is the price of oil. This is apart from the virus. This is the price of oil. Look at it. Its down to 20 a barrel. Earlier it hit 19. 20. 48 is the price right now. The saudis have declared war on Am
Test of these taking back power from the executive branch is often a challenge that requires overriding a president ial veto which is increasingly difficult. A return to normal appropriations, increase in legislative oversight, particularly by a spending authority, an earmark reform that both returns the practice while strengthening its integrity requires no president ial signoff. In fact each step rests solely within the purview of congress and it would allow legislators to increase capacity, better represent their constituents, uphold their oath and recommit to the spirit and letter of article i of the constitution. Thank you for your time. Thank you. Were going to head into questions. Im going to yield my time to representative scanlan. I know you have another hearing to get to. Thank you so much, i appreciate it. And thank you, chairman kilmer and vice chair graves for holding this hearing. Weve had a number of hearings talking about kind of the Practical Impact of issues so its re