Clerk on a motion to not disclose the closed session deliberations [roll call] clerk mr. Chair, there are three ayes. Chair mar thank you, mr. Clerk. Is there any further business . Clerk that concludes our business for today. Chair mar great. We are adjourned. Take care. Good morning. The meeting will come to order. The december 3rd meeting. I am joined by Committee Member peskin. Committee member haney will be joining us. I would like to thank sfgovtv for staffing this. Do you have announcements. In order to protect the public and City Employees during the Health Emergency the board of supervisors legislative chamber and Committee Room are closed. This is taken pursuant to local state and federal orders and directives. Committee members will attend through video and participate to the same extent as if physically present. Public comment is available for each item on the agenda. Both cable channel 26 and sfgovtv are streaming the call in number on your screen. Your opportunity to spea
Span radio app. Federal reserve chair Jerome Powell appear on capitol hill for the second time this week to testify on the Economic Impact of the coronavirus. This hearing is just over two hours. Welcome everybody. ,oday our select subcommittee some members will appear in person and others may appear remotely. Welcome everybody. Today our select subcommittee, some members will appear in person and others may appear et d , all individuals attending this hearing in person must wear a mask or face covered. Ing. Over members who do not wear a Face Covering will not be recognized to speak. Let me make a few reminders about hearings. For those members appearing in able to seewill be members appearing remotely on the monitors in front of you. On one, you will see all the members appearing remotely at as gradehat is known view mode grid view mode. On the other monitor you will see each person speaking during the hearing when they are speaking, including members who are appearing remotely. For
Welcome everybody. ,oday our select subcommittee some members will appear in person and others may appear remotely. Since some members are appearing in person, let me remind , all individuals attending this hearing in person must wear a mask or face covered. Ing. Over members who do not wear a Face Covering will not be recognized to speak. Let me make a few reminders about hearings. For those members appearing in able to seewill be members appearing remotely on the monitors in front of you. On one, you will see all the members appearing remotely at as gradehat is known view mode grid view mode. On the other monitor you will see each person speaking during the hearing when they are speaking, including members who are appearing remotely. For those members appearing remotely, you can see each person speaking during the hearing whether they are in person or remote if you have your web app set to active speaker mode. If you have any questions about this, contact a member of staff immediatel
Extraordinary august. We had such important conversations. Lets get to the data quickly. And3, dow futures up 132, we are all casual. Chairman powell was casual yesterday. Im sure mr. Kaplan will be casual for Michael Mckee in a moment. Thein the time of within tumult, everyone is being casual. Lisa are we going to keep the bowtie . This is going to be the question as the fed shifts their inflation their inflation policy. Lisa this is an important conversation, as he spoke to James Bullard yesterday, as we spoke to William Dudley moments ago. Michael mckee advances the discussion with mr. Kaplan of dallas. Michael thank you, tom. Good morning. Thank you very much for joining us today on Bloomberg Radio and television worldwide, and thank you for not wearing a tie and not making, adhere. [laughter] not making tom look bad here. Robert i try. Michael there are those who safety framework review changes all well and good, but what makes you think you can even get to 2 inflation, let alone
I think Everybody Knows that. The impact is disproportionally on the poor and it could widen economic and equality, so something needs to be done. Government spending has helped but Public Confidence we key. You have to believe that you will be safe to go out. He says inflation will be low, and the fed has helped market functioning with its lending programs. They will keep buying agencies and treasuries, at the current pace, and then they will wind down with the crisis ending. The key point seems to take in the fact that we saw that amazing report today. He notes that with the easing of restrictions on mobility and commerce and the extension of federal loans, some businesses are opening up while stimulus checks are supporting households and spending. Oft said, he says the levels output of employment remained far below and significant uncertainty remains about the strength of the recovery. He underscores that we are committed to using our full range of tools to support the economy. If t