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Committee will come to order. Without objection, the chair is authorized to declare a recess of the committee at any time and all members will have five legislative days within which to submit extraneous materials to the chair for inclusion in the record. This hearing is for the purpose of receiving the semiannual testimony of the chair of the board of governors of the Federal Reserve system on Monetary Policy and the state of the economy. I now recognize myself for three and a half minutes to give an Opening Statement. Notwithstanding the greatest monetary and fiscal stimulus in your nations history, the economy has limped along for eight years, arch averaging only 1. 6 gdp growth. Savings failed to recover from the 2008 financial crisis. A new phrase was coined by leftleaning academics in an attempt to rationalize ....
Russell 2000 up by. 78 . West texas at 53. 13 up 1. 48 or nearly 3 . The 10year note theres the yield at 2. 28 . The price is lower, the yield a little bit higher. Mandy drury today on the floor of the nyse with bob pisani. Seems like this has been where all the actions been this week, ty. Seemed like the likely place to come down to. Bob, fantastic job yesterday covering the big event. But in terms of todays action, we opened up with big volume. 249 to the up side. Why are we losing steam here . I think there is some realization that greece is still very iffy and china, the gains yesterday, theres a lot of companies that respect even trading there. Some people are saying we dont know whats going on in china. The bottom line is were keying off of greece and china. We did have very smooth opening at the New York Stock Exchange. The nyse said that outage was caused by a ....
Jazeera. Im surprised how people say enough is enough what he says about his campaign, chances and Hillary Clinton. Beneath the surface, with oklahoma san jose earthquakes. With a 5. 6, 5. 7 earthquake would be significant we look at fracking and the states refusal to connect the two plus, happy birthday the big money fight over this song as a judge will decide who, if anyone, owns it the former Police Officer clarnaled with murdering a charged with murdering a black driver in cincinnati posted bomb. Much of the focus is on him, new questionses are surfacing about the actions of fellow officers at the scene. Bisi onileere is in cincinnati. John, two officers testified before a grand jury saying they didnt see anything the day of the shooting and killing. Body camera video shows him telling an officer with the city that he saw the victim dragged at this hour. Both officers ar ....
The u. S. Continuing the rally we saw around the globe. Stocks are really strong out of the gate, up more than 1 across the board. It has something to do with oil prices which are surging. Oil is spiking higher on the day , up by nearly 7 . Even approaching 32 a barrel. Gaining momentum as the morning progressed. I want to take a look at the oil stock correlation. This is something that we have been looking at all morning. This is the oil and s p 500. The has seen a downtick in the correlation but it still is historically on a relatively high basis but it has gone down from where it was earlier this year. Oil is not the only commodity that is higher today. Theys, gold, aluminum have been trading higher in the session. If you look at those metals, you see strong gains. That means that besides energy stocks, materials stocks are performing well in the session thus far. Have freeport back ran gaining on the day. Percentagewise, a couple of the best performers in the s p 500. Again, aside ....
Data and the service sector. This is the biggest part of the u. S. Economy. A faster pace in january than economist chad and his dated. A pickup as well. The rate was 56 point seven. Analysts were looking at 56. 4. You can see in december, we have 56. 5, was by the way was a sixmonth low. A good sign for the economy and we see stocks, they are racing he racing some of their losses. The dow is now positive and the nasdaq has trimmed its decline. The 10 year yield is Still Holding in the dollar is at the best level of the recession. All right. Thank you for that. We will continue to talk about that this morning. What a good segue. We really wanted to take a look at the temperature of the u. S. Economy the forest rather than the trees. Michael mckee and the bloomberg senior economist. What is the single biggest risk and drag on the economy. Confidence. A lot of crosswinds in an economic environments there. It could be a problem. A lot ....