Thank you very much. Good morning. Thanks to all of you for joining us and to all our colleagues for participating this morning. As you are well aware that every part we are in the midst of a Public Health and economic catastrophe. The coronavirus pandemic has resulted in the loss of more than 150,000 american lives, more than 4. 8 million infections in the sharpest economic downturn since the great depression. The latest projection from the cdc anticipates an average of nearly 1000 deaths per day through august 22. That is 18000 americans who will die over just two and half weeks. Since march my colleagues and i have conducted oversight over the Trump Administrations response to this crisis to ensure it is efficient, effective and equitable. Our goal is clear, to save americans lives and livelihoods. Our message to the administration is simple, it is urgent that we put policies and politics aside and Work Together on behalf of the American People. At this time of National Crisis i sin
Overarching goal, to sustain expansion for the benefit of the american people. At the fomc meeting that included today, we maintained our policy Interest Rate but made significant changes to our statement. Since the beginning of the year, we have judged our policy stance was probably appropriate and we should be patient in assessing the need for changes. In light of increased uncertainties and muted inflation pressures, we emphasize the committee will monitor the implications of incoming information for the Economic Outlook and will act as appropriate to sustain the expansion with a strong labor market and inflation near its 2 objective. Step back andke a review how the changing economic and financial picture brings us to todays decision. So far this year, the economy has performed reasonably well with solid fundamentals supporting continued growth and strong employment. Runningn has been somewhat below our objective that we have expected it to pick up supported by solid growth and a s
Given uncertainties and muted inflation pressures, we will closely monitor incoming information for the Economic Outlook and will act as appropriate to sustain the expansion with a strong labor market and inflation near its 2 objective. I would like to take a step back and review how the changing economic and financial picture brings us to todays decision. So far this year, the economy has performed reasonably well with solid fundamentals supporting continued growth and strong employment. Inflation has been running somewhat below our objective but we expect it to pick up, supported by solid growth and a strong job market. Along with this stable picture, this favorable picture we , have been mindful of some ongoing crosscurrents, including trade development and concerns about Global Growth. At the time of our last fomc meeting, which ended on may 1, there was tentative evidence that these cross currents were moderating. The latest data was encouraging from china and europe. And there we
Vote vote vote the presiding officer any senators wishing to vote or to change their vote . If not, the yeas are 92, the nays are 6 and the nomination is confirmed. Under the previous order, there will be two minutes of debate, equally divided in the usual form prior to a vote on the gibson nomination. Mr. Reid madam president , i yield back all that time. The presiding officer without objection. The question is on the nomination. All those in favor say aye. All those opposed say no. The ayes appear to have it. The ayes have it. The nomination is confirmed. Under the previous order, the motions to reconsider are considered made and laid upon the table, the president will be immediately notified of the senates action and the senate will resume legislative session. Mr. Reid madam president , with the consent of the senate i ask we proceed to a period of morning business with senators permitted to speak therein for ten minutes each. The presiding officer without objection. Mr. Reid i ask
What Does a Slowdown in Delinquent Payments Means For the U.S. Economy? By Hardika Singh Delinquent debt payments are still mostly higher than they were a year ago, but are trending in the. -May 31, 2024 at 07:17 am EDT
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