Below 50, then it s going to continue to grow within the end of the year. Continue to grow within the end of the year of the year. Let s turn our attention of the year. Let s turn our attention to of the year. Let s turn our attention to us, of the year. Let s turn our attention to us, the of the year. Let s turn our attention to us, the jobsl attention to us, thejobs data, that s out this friday. Will that s out this friday. Will that have any impact on what the fed decides to do. We know they re meeting in the next few weeks. , ,~ weeks. The highest risk economic weeks. The highest risk economic event so weeks. The highest risk economic event so far. | weeks. The highest risk economic event so far. Because what we have seen so far, august was unprecedented for some global markets and one of the catalysts behind this was concerns that us economic momentum after being very robust and resilient for the past 18 months or so is showing signs that there is rocks are falling and the
Let s turn our attention to us as well and talk about the us jobs data, that s out this friday. Will that have any impact on what the fed decides to do? we know they re meeting in a few weeks. We are looking at potentially the highest risk economic event of the year so far. Because what we have seen so far, august was unprecedented for some global markets volatility and one of the catalysts behind this was concerns that us economic momentum after being very robust and resilient for the past 18 months or so is showing signs that those rocks are falling and the momentum is falling with it. We do expect the fed, the us central bank, to cut interest rate this month but what s concerning is that fed policy makers have had a poker face of not giving too much away until recently. We had a weak economic data release for the monthly jobs report in august and we have also seen a data revision where up to 850,000 jobs were potentially overestimated between april of last year and march of this yea
Has contracted in august for the fol then raight month. Has contracted in august for the fol then its iht month. Has contracted in august for the fol then its going nth. Has contracted in august for the fol then its going to 1. Below 50, then its going to grow as we continue into the new year. L115 grow as we continue into the new year grow as we continue into the new year. Us Obs Data is out this friday, new year. Us Jobs Data is out this friday, will new year. Us Jobs Data is out this friday, will not new year. Us Jobs Data is out this friday, will not have new year. Us Jobs Data is out this friday, will not have any| this friday, will not have any impact when the fed meets in a few weeks . Impact when the fed meets in a few weeks . Were looking at the hi. Hest few weeks . Were looking at the highest risk. Few weeks . Were looking at the highest risk, potentially, highest risk, potentially, economic event of the year so far. What weve seen last august was unprecedented. One of the ca
To declarer can rise a recess of the subcommittee at any time. Without objection members of the full committee not on the subcommittee are authorized participate in todays hearing. Members are reminded to keep their video function on at all times, even when they are not recognized by the chair. Thatrs are also reminded they are responsible for muting and unmuting themselves and to mute themselves after they are finished speaking. Consistent with the regulations accompanying House Resolution 965, we will only mute members and witnesses as appropriate. When not recognized for to avoid inadvertent background noise. Members are reminded that our house rules relating to the order and the decorum of the desk decorum applied to this remote hearing. This hearing is entitled insuring against a pandemic challenges and solutions for , policyholders and insurers. I now recognize myself for three minutes to begin with an opening statement. According to the Congressional Research service, 110 Millio
Theres no room for the public, but this is all streaming and there will be an unedited version that anyone can watch later. Our witnesses are participating by Video Conference today and some senators are as well. I would like to Say Something about mass. The office of attending position that he says since were six feet apart, we dont need to wear masks, although some may. I have one and i wear it outside because as dr. Redfield reminded us yesterday, its extremely important tool for stopping the spread of covid. Im grateful to the rules committee. Sergeant arms, the capitol lice and chun check and Evan Griffith and the people with all their hard work in helping us keep safe and helping us do these conferences by video which everyone has become pretty expert. Senator murray and i will have an opening statement. Well turn to our witness who we thank for being with us today. Each witness if you would summarize your remarks in five minutes, that would leave more time for questions and answ