Administrator nominee Steven Dixson today. The senate will vote on his nomination at 11 eastern. On the other side of the capital Robert Mueller is testifying before two house panels today. Now live Senate Coverage here on cspan2. The president pro tempore the senate will come to order. The chaplain, dr. Black, will open the senate in prayer. The chaplain let us pray. Eternal god, our shelter in the time of storms, we thank you for this land we love. Were grateful for its history, government, discoveries, knowledge, creativity, and vision. As our lawmakers seek to keep our nation strong, may they act and speak in ways that make us proud to be americans. Use our senators to banish hate and bigotry, inspiring our citizens to live together in peace. May the words of our legislators mouths and the meditations of their hearts receive your approval. We pray in your great name. Amen. The president pro tempore amen. Please join me in the pledge of allegiance. I pledge allegiance to the flag of
Commissioner bridges and commissioner servais is not in attendance today. We do have a quorum right. Thank you. Can i ask you, madam secretary, to turn your volume up a little . Can you do that . Its sort of. Is that better . Better better. Item number two, communications. We welcome the publics participation during Public Comment periods. There will be an opportunity for general Public Comment at this meeting after closed session and there will be an opportunity to comment on each discussion or action item on the agenda. Each item each comment is limited to two minutes. Public comment will be taken both in person and remotely by calling for each item, the board will take Public Comment first. People attending the meeting in person and then from people attending the meeting remotely. Comments or opportunities to speak during the Public Comment period are available by phone by calling. 56550001. Access. Code 26605203021. Then pound, then pound again when connected you will hear the meet
Before meeting of august 17, 2023. At this time. Hey, just give me one second here. Get me organized. Im doing my survey. All right. Okay welcome, everyone. Thank you for all the participation on the board level and im madam secretary. Do you want to call the roll, please . Thank you, commissioner. Commissioner connor. Present mr. Thomas. Present. Present. Helfen. Present mr. Driscoll. Here mr. Gandhi. Present commissioner bridges and commissioner servais is not in attendance today. We do have a quorum right. Thank you. Can i ask you, madam secretary, to turn your volume up a little . Can you do that . Its sort of. Is that better . Better better. Item number two, communications. We welcome the publics participation during Public Comment periods. There will be an opportunity for general Public Comment at this meeting after closed session and there will be an opportunity to comment on each discussion or action item on the agenda. Each item each comment is limited to two minutes. Public c
Inflation. You include the cost of financing, and the sales price . We convert ownership into a red and thence to third of homes are owned. Lisas only turnover once a year. You look at market rents and was happening with new lease signed leases is different than a year ago. We understand that in look through that and look at Housing Services is one of the important categories. Thank you for that. In the line of affordability and housing, to the broad Monetary Policy in the state of our economy and unique to california and i raise this with secretary gatlin when she was here as well. The insurance gaps that are presenting themselves due to the impact of Climate Change. One in five residents live in areas that risk flooding and we are seeing more and more insurance providers withdrawing from the state. You and i had talked about this in our preparation for todays conversation. Can you share with us how it is, what you think the impact might be with this protection gap in coverage on the
More downgrades. This time not on the sovereign but u. S. Banks, 10 downgrades overnight. Tom there is a bank story in italy as well. That is the economic thing to look at. Overwhelming everything here this morning led by the news out of china is it is deflation tuesday. Im looking at the screen and i have not seen that screen in 4, 5, six years. Jonathan dreadful. Tom we were out in front of the story, there is deflation in the air. I can bore you with eight ways, all you have to do is say even oil breaks down. Jonathan every time i get data out of china, it is downside surprise. Lisa one interesting area, the divergence between the u. S. And china has been accelerating. What you have seen with respect to the u. S. Dependence on china is it is decreasing even though in europe it is not. I wonder how much those stories are linked. The underperformance of germany and the outperformance of the United States. Tom the banks have to deal with this disinflationary, deflation tendency. You go