The highway, medicare and scattered showe social distance needed funding by 2031. [inaudible conversations] good afternoon, ill call this meeting to order. Today the committee will hear testimony from the Congressional Budget Office director, phillip swagel, on cbos updated budget and economic projection. These projections account for the covid19 pandemic and legislation enacted in response to it, and provide a window into the future of our financial state. This is dr. Swagels first time testifying before the Budget Committee since becoming the 10th director of the Congressional Budget Office. Unfortunately, the pandemic has delayed having him appear before this committee. Id like to thank dr. Swagel for being here today and id like to thank the cbo staff for working to provide congress with informed estimates at a time of unprecedented uncertainty and unusual working conditions. Cbos updated budget projections confirmed what we all knew, that the economic disruption caused by covid19
The Chinese Market has been pretty resilient amid the turmoil. The nikkei to do five higher by 6. 7 . Bluechip stocks stocks looking attractive, up 0. 8 , the cheapest since 2009. Wont be surprising for investors to be picking those out. The rest of asia was pretty much down. The hang seng rising 4. 5 . The benchmark in new zealand higher. Lets flip the board and see where we are in terms of futures. A higher open. It is surprising unlimited qe did not raise the s p more than most people thought. Futures acrosstheboard pointing to a higher open later today. Now, hong kong is taking drastic measures after a surge in imported Coronavirus Infections. From midnight wednesday they will ban nonresidents from visiting for 14 days and will stop bars and restaurants from serving alcohol. Lets bring in stephen engle. Lets start with these latest measures. Why is the government feeling they are necessary . Stephen last week they put in another step where they required a 14 day quarantine for all
Watch cspan as President Trump delivers first address to joint section of congress. This congress is going to be busie no decades. Live tuesday listen live cspan radioapp. Federal reserve chair yellen testified before the Banking Committee to give report. The committee will come to committee will come to order. Today we will be receive testimony from Federal Reserve chair janet yellen regarding policy and state of the economy. It will come as no surprise to you Economic Growth is key priority for congress this year. 2016 was the 11th Consecutive Year it failed to grow. One way to improve study and address areas where regulations can be improved. We need to better understand the combined impact of the rules on lending, liquidity and broader Economic Growth. It is time to reassess what is working and what is not. Im encouraged on core principle regulating system. In cult station with the head, colluding you to report on how well existing laws and regulati regulation prohibit as we move f
Watch cspan as President Trump delivers first address to joint section of congress. This congress is going to be busie no decades. Live tuesday listen live cspan radioapp. Federal reserve chair yellen testified before the Banking Committee to give report. The committee will come to committee will come to order. Today we will be receive testimony from Federal Reserve chair janet yellen regarding policy and state of the economy. It will come as no surprise to you Economic Growth is key priority for congress this year. 2016 was the 11th Consecutive Year it failed to grow. One way to improve study and address areas where regulations can be improved. We need to better understand the combined impact of the rules on lending, liquidity and broader Economic Growth. It is time to reassess what is working and what is not. Im encouraged on core principle regulating system. In cult station with the head, colluding you to report on how well existing laws and regulati regulation prohibit as we move f
last few weeks. there are these fears over the default by the u.s. gump. we re lucky to have rick newman with us. a great columnist for yahoo. what is the debt limit? if the u.s. government cannot pay interest on the debt, those are treasury bonds. if it says, we give with the full faith and credit of the bonds when you bought them, we can t make your interest payments, maybe we can t make your principal payments, that would be default, and that s the nuclear holocaust scenario warren buffett is talking about. these are the bills we owe and we will not have the money to pay these after october 17th. is warren buffett right? he s right, and here s why he s right. treasure securities are the underpinning of the entire world s financial system. they re trillions and trillions of dollars of these things out there, pension funds hold them. these are widow and orphan types investments. if suddenly the u.s. government