By your television provider. Now an update on cleanup efforts related to water contamination at u. S. Military bases. A task force was created in july last year to address the issue. Military representatives on the task force testify about cleanup efforts, coordination between various governmental agencies involved and research on a safe chemical replacement. Ladies and gentlemen, i call this committee of the readiness subcommittee to order. Ive got to do the boilerplate, so stand by. Ill do it as quickly as i possibly can. I would like to welcome the members who are joining todays markup remotely. Those members are reminded they must be visible on screen within the Software Platform for the purposes of identifying verification when joining the proceeding, establishing and maintaining a quorum participating in the proceeding and voting. Members participating remotely must continues to use the Software Platform video function while attending the proceedings unless they experience connec
Moderately above 2 inflation, moderately is what it says in the statement but does not define exactly what moderately means. There are two centers to this action, Robert Kaplan wants to see the statement to the way it was pretty wants to statement to read the economy or stance will remain the same until the economy has weathered the storm and the economic storm we have here. Well cash on the other side dissented because he wants more dovish language in this. On implement rates, statistics are very interesting here. They have reduced now the planet rates rates and estimation of this year to 7. 6 by the end of 2020 grid that is down from 9. 3 from their june projection and then also 5. 5 from on a plummet rates in 2021, 4. 6 and 2022 and 4 in 2023. The real gdp prediction cut in half for the losses they are paired they are now saying its a loss of 3. 7 at the end of this year with a bounce back of 4 next year. The inflation, fed estimates that pce inflation is 1. 2 this year up from 1. 7
Added to studying the feasibility of a megamerger. Of helping understate a pay packet of carlos ghosn. We had a wave of dealmaking creating positive sentiment. We had a rebound from last week, one of the worst weeks for u. S. Stocks since march. Tech stocks taking a breather from the selloff. Asset futures trading modestly. Watchl continue to trading when it comes to japan. Potential takeover for Prime Minister the middle of next week, futures are looking flat after the yen starts to gain in the monday session. We will watch for details about the cabinet and what it means for policy continuity playing in two sentiment for the japanese markets. Dollaryen holding steady. Modest dollar weakness overnight. That is set to continue. At 37. 40. Trading opec joining a chorus of voices suggesting the era of oil demand is deteriorating. Demand forecast for each quarter as we continue to see shortselling in the oil market. To a series ofrn deals we have seen. Oracle is bidding for tiktok u. S. Op
Committee meets today to consider general Charles Brown to be chief of staff of the air force, the undersecretary of defense. Thank you for being here. All of you have brilliant careers. Some of these things are necessary. I have to ask you the required question. I want to have inaudible yes or no. You have conflicts of interest, will you ensure your staff establishes requested communications including questions for the record in hearings . Yes, sir. Yes. Will you cooperate in providing witnesses and briefs in response to congressional requests . Yes, sir. Will those witnesses have to do with testimony and debriefings . Do you agree in the affirmative you testify for this committee . Yes, sir. Do you provide documents for forms of communication in a timely manner when requested by duly constituted committee with the committee in the basis of the delay or denial in providing the occupants . Yes, sir. Have you assumed any duties or undertaken any actions which appear to be presumed outco
The last 20 minutes or so. Nasdaq is down 33 and 3 quarters. Now these numbers coming after signs of the spread to have virus stabilized in hot spots. That led to strong rally yesterday. Here at the close yesterday, the dow gaining and s p entering bull market. U. S. Death toll topping 14,080 but there are signs that the spread is slowing in hot spots. The cdc issued guidelines to get to workers. The Trump Administration requesting 250 billion, democrats want additional 50 billion. Fed chair jay powell will be giving us an update on the economy and actions taken to combat the impact of the virus, thats today 10 00 a. M. Eastern time. More to expect from the fed. The today is a big day for oil. We are watching the contract right now. Its up almost 5 and a half percent. The investors are watching the opec meeting including saudi arabia and russia, can they come to an agreement . All rising on hopes of a deal to cut production and bring an end to the costly priced war. And then there was