The governors of new mexico, kansas and guam as well as douglas holtzeakin, former director of the Congressional Budget Office. This virtual hearing is just over four hours. The committee will come to order. Authorized to declare recess of the committee at any time. Before we begin todays hearing, i want to remind you of a few matters including some regulation accompanying House Resolution 965. I would ask all members to keep themselves on me was. This will minimize disturbances not being recognized with background noise they made only again one at a time. If you are participating today please remain with us during the hearing t that she recommends vendors identify themselves and facilitate the chairs recognition. I would also ask members to be patient this hearing is entitled the need for Financial Aid to americas states and territories during the pandemic. I now recognize myself for four minutes to give an Opening Statement of the 189,000 people have lost their lives to the virus las
The fda approving a 5 15minute rapid test the ceo will join us thats a biggie as power lunch starts right now thanks as august comes to a close, its been a stunning summer rally the dow up 13 the s p up 15 and the nasdaq up 25 . Bob has more for us. Bob. August is usually a nothing month. Not this much. Usually august is typically flat to down. Were up 6. 8 so far best august since 1980s. April, may, june and july have been pretty good monthly gains five months in a row. Why is it happening . Everybody wants to think its apple because apple is up 18 . The s p would be up 4 rather than 6 . Its a lot more going on than apple. The pricing are pricing at some economic rebound could see the returns. The dow transports are up. Thats a cyclical group. The russell 2000 is up high yield is the best performing bond asset. This wouldnt be happening if they were projeking iproprotecn economic downturn. The better argument is theres a bull argument thats winning the argument so far. This is the arg
Reserve and other central bankers, academics, public and private Sector Economists and members of the news media for this annual gathering. As you well know, its been our custom for nearly four decades to welcome you to wyoming, served for the kansas city that. I look forward to return to the online format, senate expressing my gratitude for those who travel around the globe to attend for managing jet lag. Appreciation to those attempting to manage local. With the current time, ranging from 6 00 a. M. Thursday to 1 00 a. M. Friday. This year has been an extraordinary one for Monetary Policy and central banking. Issues with time including the level of Interest Rates the effects of heightened uncertainty and how to effectively communicate Monetary Policy have been amplified by the economic fallout of the pandemic. For more than a decade, it seems the central has been in the shadow of the Global Financial crisis. It may be that the pandemic stems even further. The truly extraordinary poli
Private sector economists, and members of the news media for this annual gathering. As you well know, it has been our custom for nearly four decades to welcome you to beautiful jackson hole, wyoming, part of the regions served by the kansas city fed. And i look forward to returning to that setting next year. With this years online format, instead of expressing my gratitude to those who travel from around the globe to attend this symposium while managing jet lag, i will offer my appreciation to those attempting to manage local time zones with the current time no ranges from 6 00 a. M. Thursday to 1 00 a. M. Friday. This year has been an extraordinary one for Monetary Policy and central banking. Many of the issues that we talked about for some time, including the low level of Interest Rates, slower case of growth, effects of heightened uncertainty, and how to effectively communicate Monetary Policy, have been amplified by the economic fallout of the pandemic. For more than a decade, it h
Enough anger is still growing on the streets protesters are out in force again. The opposition calls it a revote theres anger on the streets of balance following sundays president ial election. And the highest profile arrest yes the hong kongs controversial security nor media tycoon jimmy law is accused of colluding with Foreign Forces. And im sorry the homeless now have all the sport some of europes biggest teams gear up for the euro many tournament in germany which kicks off in less than an hour 7 games in just 12 days that will decide this seasons winners. Were begin this hour with developments in lebanon where the president has accepted the resignation. Of his Prime Ministers government sunday admit president michel al now after announcing his cabinet decision to step down on television the president has asked to stay on the caretaker capacity until a new cabinet is formed a resignation follows a violent protest after more than 200 people were killed in tuesdays explosion in the ca