One hundred thousand cases a day. New york expanding the list of states on quarantine list as well. Markets this morning the first day of the Third Quarter, futures indicating this morning we are going to see a decline at the start of trading to kick off Third Quarter. Dow futures down 109 points and s p futures down 9 and a quarter. Yesterday u. S. Markets closed strong Second Quarter in the green in hope of additional stimulus. S p 500 yesterday up 47 points at 4 00 oclock on wall street. Markets had their best quarter in more than 20 years, take a look. Secondquarter numbers, up 17 on the dow, 30 on the nasdaq. Defunding the police, new york city cutting the Police Budget by 1 billion, some including like alexandria ocasiocortez says it isnt enough. Ray kelly will join me live at 7 30 a. M. Eastern joining me on the movement and what it means for already rise in crime throughout the country. A new era of trade begins the u. S. Mexicocanada trade agreement is in effect. Wilbur ross w
Present your oral testimony. Secretary mnuchin thank you very much. Mr. Barr. Let me express my condolences for your loss. Of the committee, i am pleased to join you today to discuss how the Treasury Department and the Federal Reserve are working together to provide liquidity to the credit households,iness, as well as state and municipal governments. We remain committed to making sure every american gets back to possible. Ickly as americas economy continues to recover from the challenges posed by the covid19 pandemic. The jobs report for the month of may best we exceeded expectations with a record gain of 2. 5 million jobs after experts had predicted nearly 8 million lost. Ae Unemployment Rate is still high but we are seeing additional signs the conditions will improve significantly in the third and fourth quarters of this year. Is bluechip report forecasting our gdp will grow by 17 annualized in the Third Quarter and by 9 in the fourth quarter. The u. S. Chamber of commerce reported t
When the time comes, after the crisis has passed, we will put these emergency tools back in the tool box. I would stress that these are lending powers, not spending powers. I will also note that we design our facilities to work for broad ranges of businesses and municipalities. We do not target particular firms or industries. Elected officials make decisions about where to direct such target relief. The cares act and other legislation provide direct help to people, businesses, and communities. This direct support is making a critical difference. Not just in helping families and businesses, but also in limiting long lasting damage to our economy. Public faith in our operations depends on transparency. If the fed were committed to that, particularly in deploying our emergency powers. Thank you. I look forward to our questions. Thank you very much, chairman powell. I now recognize myself for five minutes for questions. As i mentioned in my opening, the pandemic is strengthening and so, to
Loans provided through the c. A. R. E. S. Act during the coronavirus pandemic. The House Small Business Committee held this hearing. I want to thank everyone for joining us this afternoon for our committees First Official remote hearing. I want to make sure to note some important requirements. House regulations require members to be visible through a video connection throughout the proceedings. So please keep your cameras on. Also, if you have to participate in another proceeding, please exit this one and log on later. You are recognized to minimize background noise. Over the last few months, the outbreak of covid19 has led to an unpresented Public Health crisis and dire economic crisis. We have lost over 10,000 people to the disease and 30 million remain unemployed. Back in february as the pandemic was getting worse, we knew we needed to take action to help our Small Businesses survive the economic downturn. We started working with the sba and governors around the country to leverage
Senator schumer and we are joined by senator schumer who has been a real champion on making sure we get help to americas Small Businesses. Im going to acknowledge the work of senator coons who i expect will be on the floor a little later, one of our key cosponsors on the next round of aid is senator rosen. I want to acknowledge the cosponsors of the unanimous consent request legislation, including myself and senator schumer, senator shaheen, senator coons, senator rosen, and senator collins. I also want to acknowledge that this is bipartisan. I have talked to senator rubio. He has informed me that this has cleared the hotline. So we are hopeful that well get this u. C. Done today. But as were waiting for the paperwork to get to us, let me just explain what the u. C. Does before i make the u. C. Request. The authority of the Small Business administration to approve any more Paycheck Protection Program loans expires at midnight tonight. That was the deadline we established when we passed