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Mnuchin testifies about the u. S. Economy. He also talks about Digital Currency and the potential impact of Climate Change. Waters the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations deregulatory approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 00 per the request of the p. M. Secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchin. Toda...

C the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled promoting stability, reviewing the administrations deregulatory approach to Financial Stability. I want to inform all concerned that this meeting will end at 1 00 p. M. Per the request of the secretary. I now recognize myself for four minutes to give an Opening Statement. So let me welcome back secretary mnuchen. Today we are here to discuss the Trump Administrations actions that have undermined and not promoted our nations Financial Stability....

This is nothing this is something we should work on, and the work on this predated me coming to treasury and this has been a long time, and as i mentioned earlier, we may come back to congress and suggest that you pass legislation. I would ask you, this is not on your 2021 calendar. This should be on your december calendar. I agree. I look forward to working with you. I need to know whether you need legislation. I need to know what you need and we need to make sure that are 2 billion of outstanding debt where people kbts determine what interest is supposed to be paid, and i want to move on bec...

My confusion is why is it so low . I understand the specialty. I know there are areas that we can use lb e. We have looked at those scopes and have made okay, but three point nine shoreside construction, but we only have eligible work or two point eight. Yes. The component that has no participation is 32,000,000 dollars in the project. Okay. The balance at 15 percent which is what we see in a normal package brings us to when you take the 32,000,000 dollars specialty back out. Getting crumbs. As usual. [laughter] im not supporting it on just giving the raw numbers. So we all understand it. Ther...

My confusion is why is it so low . I understand the specialty. I know there are areas that we can use lb e. We have looked at those scopes and have made okay, but three point nine shoreside construction, but we only have eligible work or two point eight. Yes. The component that has no participation is 32,000,000 dollars in the project. Okay. The balance at 15 percent which is what we see in a normal package brings us to when you take the 32,000,000 dollars specialty back out. Getting crumbs. As usual. [laughter] im not supporting it on just giving the raw numbers. So we all understand it. Ther...