Massive local tax increases. Anyone of those alone threatens to make this economic crisis even worse and the combination of all three is almost unthinkable. The bureau of labor statistics just reported that state and local governments laid off nearly one million workers in april. That is almost one million firefighters, police officers, teachers, Emergency Personnel that should be on the front lines of the Public Health crisis but are sidelined instead. Chairman powell, let me start by asking, do you agree that our economy will get worse if state and local governments are forced to lay off even more firefighters, teachers, any and Emergency Personnel . Let me say what we are doing. We have a liquidity facility that is there to address the shortterm liquidity needs that these entities have because of their loss of revenue due to the effects of the pandemic. That is really the tool that we have. I appreciate that. That is not my question. States,ion is if counties, and municipalities con
President donald trump the president will reportedly target facebook and twitter in an executive order regarding social media according to a draft that appears to have leaked online now the draft version of the order which could still change names Facebook Google and twitter and targets a section of u. S. Law under which tech platforms largely arent liable for what their users post and are fairly free to police content joining us now to discuss the above cohost investigative journalist of course ben swan now. Theres a lot on packer what exactly is the rule that President Trump is attempting to amend and why is he actually doing that and how big of a deal would it be for these social media companies. Yes so for started at the very end there its a very big deal its actually something ive been calling for for about 2 years the president now talking about whether or not he can or cannot do this the truth is we dont even know if the president can do this lets talk about what hes trying to d
A major disruption in the travel industry particularly airlines as we dig into the struggles of the sector we have a packed show today so lets dive right in. And there is a big move coming from u. S. President donald trump the president will reportedly target facebook and twitter in an executive order regarding social media according to a draft that appears to have leaked online now the draft version of the order which could still change names Facebook Google and twitter and targets a section of u. S. Law under which tech platforms largely are liable for what their users post and are fairly free to police content joining us now to discuss this with a bunch cohosted investigative journalist of course ben swan now ben theres a lot on packer what exactly is the rule that President Trump is attempting to amend and why is he actually doing that and how big of a deal would it be for these social Media Companies yes so lets start at the very end there its a very big deal its actually somethin
To this virtual hearing the honorable steven mnuchin, secretary of the department of treasury and the honorable jerome powell, chairman of the board of governors of the Federal Reserve system. We will receive testimony from the secretary of the treasury and the chairman of the Federal Reserve as required under title iv of the cares act. Congress has appropriated 3 trillion to protect and support americans to fight the pandemic and also to stabilize the infrastructure of our economic system. A large portion of this funding is authorized under title iv of the cares act which provides resources for loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and programs in support of eligible businesses, states, municipalities, and tribes. Title iv of the cares act provided 454 billion as an infusion into the Exchange Stabilization fund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketpl
We will receive testimony from the secretary of the treasury and e chairman of the Federal Reserve as required under title iv of the cares act. Congress has appropriated 3 trillion to protect and support americans to fight the pandemic and also to stabilize the infrastructure of our economic system. A large portion of this funding is authorized under title iv of the cares act which provides resources for loans, guarantees, and other investments from treasury and the Federal Reserve 13. 3 emergency Lending Facility and programs in support of eligible businesses, states, municipalities, and tribes. Title iv of the cares act provided 454 billion as an infusion into the exchange stabilizatiofund to support the Federal Reserves emergency lending facilities that facilitate liquidity in the marketplace and support eligible businesses, states, governments, and tribes. This unique authority known as 13. 3 authority is authorized under section 13 of the Federal Reserve act and plays a Critical R