Continues in solidarity. We will have the latest. Global stocks rally, and then filing just a little bit as we count down to jackson hole and the highly anticipated speech by the fed chair, jerome powell. Here is the state of play. European stocks a little bit lower, dragged down by rollsroyce, in particular, with record highs throughout the week. 68 basis points. We look at that later in the day, we might get more traction. Space, if you are looking for a quiet complex, it is the currency right now. The movement is contained, the dollar barely halting a loss. Wti, at the moment, just barely below the flat line. High, whereemonth they are looking out for live images from the area to get a better sense of the potential damage that might be inflicted. Morgan stanley says the extent of the impact on oil refining will be evolving in the coming weeks with the risk of higher or extended outages, mandatory evacuations in place in some of the coastal areas. You are looking at live pictures now
Social media. Follow us at cspan history. In 1939, Eastman Kodak company gave newly released kodachrome color film to photographers working for the u. S. Government. American history tv visited the library of congress to meet Beverly Brannan to learn about the collection of color images documenting agricultural life and war production during the Great Depression and world war ii. Beverly in the 1930s, the United States experienced an economic depression and an agricultural disaster. The great drought. People were not able to make a living on their farms. They begin moving other places, looking for a new lands to live on. People were in dire straits. One of the worst hit areas in the economy was agriculture. A Program Began under tugwell who was one of the advisers to president Franklin Roosevelt to document the conditions under which people reliving. Were living. This is back when we did not have television. We had radio, but a lot of places did not have electricity. So they could not
Clock to show you how much time is remaining. All members and witnesses need to be especially mindful of the fiveminute clock. At 30 seconds remaining ill , gently tap the gavel to remind members their time has expired. To simplify the speaking order process, the 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 examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support lending to small and mediumsized businesses, and nonprofit organizations that were sound before the covid pandemic. The program operates through five facilities which we will learn more about this morning.
The great drought. People were not able to make a living on their farms. They begin moving other places, looking for a new lands to live on. People were in dire straits. One of the worst hit areas in the economy with agriculture. A Program Began under tugwell , who was one of the advisers to president Franklin Roosevelt to document the conditions under which people were living. This is back when we did not have television. We had radio, but a lot of places did not have electricity. So they could not listen to the radio podcast of find out what was going on in other parts of the country. They sent off photographers to take pictures of what was happening and put these pictures into newspapers whenever they could and into magazines, journals, things like that. It was difficult to get newspapers to accept these photographs, because nobody really wanted to face up to what was happening. But roy striker, an economist from columbia university, was persistent. He was the head of this project.
You may address the board once per agenda item for two minutes. Item number 1, call to order. [roll call] president tsen here. Director dunlop here. Vice president lai here. Director richardson here. We do have a quorum. President tsen excellent. Before we begin, hello, directors and members of the public. Thank you so much for joining us today. I am sorry that we still to conduct our meetings by teleconferencing. And i ask that everybody be patient as there is a lag time sometimes to hear the Public Comment. But our able secretary kate austin will guide us through the process. I would like to start the meeting with a quote, whose life and words inspired so many of us. He wrote a letter which was published and i quote from that letter. He says, ordinary people with extraordinary visions can redeem the soul of america by getting into what i call good trouble, necessary trouble, building and participating in the democratic process are key. Democracy is not a state. It is not an act. Each