Fine. The rapid recovery, but it would be nice to report it. The rapid recovery of homebuilders sentiment points to massive new construction and we are doing massive amounts of construction of new homes. That is because people have tremendous confidence. This is where we went. And the Housing Market has quickly rebounded. We were at a record. Now were going to be at a record again very shortly. Those numbers rin credible. Thats where we are. We had to turn off the economy and now were turning it back on. That is, this is going to be, very strong. It is called a strong v. Automobile demand has increased 65 over the last three months. 65 automobile demand and were anticipating that that is going to go up even further but thats more than any, anybody else. The Manufacturing Sector, remember manufacturing is dead according to the past administration of obama and biden. Manufacturing is dead, you would need a magic wand. Well you dont need a magic wand. You need competence and capability. T
Schools should open. This thing is going away. Things go away like away and my view is schools should be open. The decision about how to reopen schools as a political dispute about his own reelection, and to paraphrase his press secretary, he is refusing to let science stand in the way. I fundamentally disagree with that approach. Schools must reopen based on science and the safety of our children and teachers, not politics and wishful thinking. I do agree with the president that schools are critically important for children and their families. My first job after i graduated from college was at the high score does high school. High school. My wife was a school librarian. Of year thehis time anticipation of school would come into focus. Two of my grandchildren are of school age and they are feeling that anticipation now. In may, the select subcommittee focused on how to open safely by testing, tracing. I hoped the administration would implement these measures and the schools could safel
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
After an unexpected spike in jobless claims. New fears that the u. S. Economy will not recover any time soon. Amazon, alphabet all dropping more than 3 . Microsoft falling on the back of its Earnings Results after reporting a slowdown in the cloud and even tesla dropping, despite beating earnings. For more on the selloff, i want to bring in Abigail Doolittle who has been covering the back and forth. Investors see reacting to the bad news, which honestly we see week after week. What drove the pessimism today . Reporter its funny you should say that because we finally have something to talk about. Instead of all these choppy little intraday volatility days, it has finally translated into closing volatility. The s p 500 down more than 1 , its worst day in about a month. The nasdaq 100 down more than 2. 5 . Its worst day in almost two months. Index chip index also lower. And behind it, all those mega cap numbers. Even though the selloff hit midday, that was the first rise or move in the wr
Straight night of unrest in the city. Arsonists starting several fires around the federal courthouse, despite federal Law Enforcement officers presence. Rioters threw flares, fireworks, molotov cocktails at the Law Enforcement officers. The leftwing mob injured at least three federal officers, protecting the federal courthouse. One of them burned by unidentified chemical. Portlands radical testimony mayor, ted wheeler, showed up at the riot. Apparently he thought he would receive something of a heros welcome because he has made this violence possible. He was there to support the mob who then turned on him, jeering and mocking wheeler. The mayor, thinking he was safe, taking part in a listening session with members of antifa and black lives matter, near that federal courthouse. The lawless activists tearing his city apart. Made it clear they dont like him either. [booing] [shouting] lou loud calls for wheelers resignation. Demanding wheeler even withdraw more money from the Police Depar