Weak in the session. Joining us is josh brown welcome back. Good to be here are you also in celebration mode after jay powell . Im also in celebration mode. We got all but a promise of a rate cut i think in july. Theyre going to do it. I said earlier, he foamed the runway for what ithink the market knew he was going to do the thing is, i dont think its necessary, but i also dont think its harmful a 25 basis point rate cut most likely, the best example of Something Like this, that i can think of from recent history is 1995 you had a new alltime high in the stock market the day they did the cut, but it was a single cut. And a lot of the reason for that, they had done a surprise rate hike in 1994, which kind of crushed the bond market, people were shocked i think what the 1995 single cut was about was taking some of the pressure off from that, maybe also like a mea culpa, we didnt need to do that that maybe thats what this is most like, and it would be likely we make a new stock market hi
We will hopefully move quickly through Opening Statements because we will be called to the floor before too of votes. Long series the American People is often skeptical of what government does for them. I feel so proud and lucky to be on this subcommittee. We will consider seven bills that aim at attracting builders and saving lives. Chair tony introduced the safe act of 2019, i wrote to of the Consumer Product Safety Commission in april asking to recall this, which, gratefully, she did. There are other products out that are risks. I want to thank annie, who invited carter, a member of the nicolasttee, introduced and zachary burt, Carbon Monoxide poisoning act. Those are two brothers who died. We want to prevent that. This would establish cpf see Grant Program for states to install Carbon Monoxide in childcare facilities, Senior Citizen centers, and homes for low income families for seniors. Mike and david joyce, though they dont serve on the committee, have introduced an important bil
And child safety advocate Krystal Ellis who lost her twoyearold son to a furniture tip over. The hearing examines several Consumer Protection bills introduced by committee members. This is just over an hour. We will be called to the floor before too long for a long series of votes and i want to hear from our witnesses. The American People are skeptical of what does government do for them. Proud and i feel so on this subcommittee because the kinds of things we are talking about today are about saving lives. We are actually going to make a difference in the lives of everyday americans. Ourpreciate so much witnesses for being here today. We are going to consider seven bills aimed at protecting consumers, and saving lives. Vice chair,ittees Tony Cardenas introduced the safe sleep act of 2019, which would ban inclined sleep products. The chairman of the sumer, chairman burgled in i wrote to the chairman asking to remove the rock and play. There are other inclined sleep products that are a r
Ethis committee will come t order. To help us understand what china is doing. We spend a lot of time on this committee debating whether xi jinping will make a move. This is a question that people continue to debate. I wonder if such an invasion or the preparation for such an invasion which would be incredibly costly as the Ranking Member very eloquently brought up yesterday has already begun. Put differently, the ccb has been attacking us. Government, our defense contractors, our Development Firms in cyber. And they had been robbing us on tech. And they used that to their military modernization. And they have been gathering information on people and companies. Our military records have been compromised. Mine is framed in my office, in my basement. According to the fbi, chinas vast Hacking Program is the Worlds Largest and theyve stolen more americans personal and business data than any other nation combined. But that wasnt enough for the ccv. In the past few years, our intelligence and
Miss when it comes to consumers. Home goods are seeing good money flows, but retailers are spotty. Macys, urban outfitters, but lowes at home depot, they miss. Instead, its flowing from one business to another or from a government to the business. After the dow advanced 66 points and climbed to a new high, and nasdaq also hit a new high up. 22 , we see that at this very moment, these money flows, you have to be investing in companies that dont cater to just the consumer. Albeit, some rare exceptions, and instead, zero in on those that make money off the enterprise, as they call business. Consumer spending on hard business and one of them, and that is why the ceo of lowes is on tonight show. Its not time to start spending on big, Home Improvement projects. He sums it up pretty well, and i quote, uncertainty around inflationary cuts, and spending on Discretionary Services and experiences continues to weigh on the doityourself Home Improvement demand. For many homeowners with low or no mo