Small and mediumsized businesses that were in sound Financial Condition before the virus impact of the economy we will hear from the head of the fed in boston and banking and business leaders. Will come tog order. This is a hybrid hearing meaning some of our commissioners are appearing in person and witnesses will testify remotely. Let me offer a few Video Conferencing reminders. Before you start speaking there will be a slight delay before you are displayed on the screen. Click the mute button until your turn to speak or to ask a question. If there is a technology issue, well move to the next speaker until it is resolved. You should all have one box on your screens labeled clock to show you how much time is remaining. Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As a part of our oversight work, the commission has decided to hold
Around the globe, nearly 200 vaccine candidates are being developed and nearly 20 have entered human. Clinical trials in the United States. Entered human Clinical Trials with large Clinical Trials to begin late this month. With the historic, all hands on deck effort underway around the globe come of the timeline to develop a vaccine may be compressed from several years now to just 12 or 18 months. Moving with this amazing speed does not and must not allow for cutting any corners. Today, we will hear how we must place trust in the fdas [audio drop] to produce a vaccine. We in Congress Must do our part to protect their work from political meddling so that they can uphold their professions utmost standards of scientific analysis and ethics. We are not here today [audio drop] not politicians. I want to highlight two guardrails that protect the integrity of Vaccine Development and will ensure the safety and efficacy of a covid19 vaccine. First, the most important hurdle for a vaccine to be
Air force. You ran against Kamala Harris for state attorney general. There has been some criticism from the left that she was too harsh as a prosecutor. Is that a problem for her with a left wing of the Democratic Party . Rep. Lieu i do not think so. My advice is never run against Kamala Harris. In terms of her record, you do not get to be elected as the District Attorney of San Francisco and then elected statewide in california as attorney general if you were not progressive. She has a record she can put up against anyone, and she will prosecute donald trump in terms of showing his failures and addressing this pandemic, in terms of creating job, in terms of his failures on the Foreign Policy front. She has done that with other witnesses before her in congressional hearings. She will do that as Vice President. Ticketdoes she help the in this respect that President Trump wants to make law and order a major issue, does she pull teeth on that argument a little bit . Rep. Lieu as a former
Possibly to those making 40,000 or 80,000 per couple. One in five u. S. Workers have been receiving a boost to the benefits effectively set to expire tomorrow july 25th for most people. Republicans have expressed concerns that additional payment discourages work. Its about the dig dignity and meeting the needs of children. Highest levels of nearly three months. Almost 300,000 initial claims filed in the past week. A 2. 7 increase from the prior week. Since the middle of march, theres been almost 7 million first time jobless claims in california alone. And yelp came out with a survey of business closures during the pandemic saying more than five thousand businesses in the San Francisco, coke land, hayward metro area closed temporarily or permanently. Between march 1 and july 10. San jose, sunnyville metro endured 1700 and restaurants have been among the hardest hit businesses with almost 500 restaurants are out in the bay area closing permanently during that period. Depending on how neg
Commission has decided to order ourselves alphabetically. With that welcome to this virtual hearing convened by the Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As part of our oversight work, the commission has decided to hold this hearing today which will exam examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support small and immediate you yumsized business answer Nonprofit Organization that is were in found sentence condition before the onset of the covid19 pandemic. The program operates through five facilities which we will learn more about this morning. The programs being administered by the Federal Reserve bank of boston todays hearing will have two panels. President eric rosengry. N, Federal Reserve bank of boston will testify during the first panel. Second panel will i