35 Burst results for "House Financial Services"

"house financial services" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

01:44 min | Last month

"house financial services" Discussed on WNYC 93.9 FM

"The House, financial services committee, a briefing pals required to do twice a year. It was the Senate banking committee yesterday, and there were vivid moments. I mean, for a fed boss, marketplaces Nancy Marshall is here with some highlights. Hey, David, there were some vivid moments, some senators tried to get Powell to blame the other party for inflation. Others asked him what they could do to help. Powell wouldn't get into politics. He just said the fed is doing all it can to bring down high prices, partly by raising interest rates to cool off the economy. And I see the word recession was uttered more than once. Yes, it was Powell acknowledged that the fed's rate hikes could push the economy into a recession if the fed raises rates too much too fast. Powell said that is not the fed's intent, but it is a possibility. And frankly, the events of the last few months around the world have made it more difficult for us to achieve what we want, which is 2% inflation and still a strong labor market. And Powell said several times that some of the things causing inflation are just out of the fed's control, like the war in Ukraine and supply chain snarls. Yeah, it's not 2%. It's like more than 8%, and senator Elizabeth Warren of Massachusetts was among those pushing Powell on this? Yeah, she asked him whether raising interest rates would lower food or gas prices. Of course, Powell said, no, then Warren said if there is a recession, people would be thrown out of work and that would make things a lot worse, but Paul said we can't have a strong economy and labor market unless the fed gets inflation under control and there may be some short term pain. Nancy, thank you. The stock numbers

Powell fed House, financial services comm Senate banking committee Nancy Marshall senator Elizabeth Warren David Ukraine Massachusetts Warren Paul Nancy
"house financial services" Discussed on The Breakdown with NLW

The Breakdown with NLW

05:41 min | 8 months ago

"house financial services" Discussed on The Breakdown with NLW

"But it's really expanded quite significantly beyond that now where we have major endowments and pension allocators looking seriously at this space. And we're going to see a lot more of that in 2022. The other one I wanted to point out that I think it's just been really remarkable to watch is the political acceptance and even support of the cryptocurrency industry. We've seen enormous increase in attention and education and IQ among policymakers and legislators. You saw that last week at the House financial services committee where it was obvious that both constituent and industry outreach has made a huge dent in the sort of mind share of crypto on the hill. And I'd like to see us do a lot more of that too. I wanted to give you both of these a little bit more. But let's talk institutional because you have now a very longitudinal view of how the institutional relationship with Bitcoin and the entire industry has changed. So hearing you say that a major shift I think is significant. Obviously, we've seen kind of the headlines around institution X does why with this or pops in in this way, do you think there's a more or from your perspective a broader kind of maturation of people's perspectives on it as well? Even if it's not showing up as specific action yet. Yeah, absolutely. There's been a total leveling up in IQ among traditional capital allocators. I think that's where people don't realize, you know, they think hedge funds and all the hedge funds are involved in some way for the most part. They think institutional investors or just non retail click traders on fidelity dot com. But really, there are giant giant pools of capital in this world and most of those are talking sovereign wealth funds. We're talking pension plans and endowments. And some of them had had exposure most likely through venture investments as LPs. But we're really seeing teams set up inside these organizations to look at crypto to understand the trends happening in Bitcoin and how it can play a role in a large diversified portfolio, like never before. And it's crazy. I mean, we take these meetings all the time with these allocators and the folks that they send to these meetings. They know what they're talking about. They understand the space. They're asking about how long it will take for wallets to upgrade for taproot support. They're asking about the differences between Solana and avalanche. They're asking about what layer two adoption on Ethereum is going to mean for scaling in light of Ethereum two. So these are smart people and they're really digging in. It's just that they're committee schedules and allocation approvals take a long time..

House financial services commi Bitcoin Solana avalanche
"house financial services" Discussed on Democracy Now! Audio

Democracy Now! Audio

03:46 min | 11 months ago

"house financial services" Discussed on Democracy Now! Audio

"House financial services committee. Can you respond to what we have watched this week. The whipping of haitian asylum-seekers on the us side of the border by us border patrol. What are you demanding. Well thank you. I am outraged. And i'm demanding first of all They take the cowboys out. Take the hushes out And stop using them against the people. Secondly we've got to come up with real immigration reform. Meanwhile we've got to treat. They should the way. The constitution allows us to have people You know petition for any state or To be able to get For asylum i'm sorry asylum in our country We're not allowed them to go through the constitutional process. We're not Protecting them in any way. We're not doing what we can't to help those. Who are under that bridge. This is inhumane. The united states Can do better than this. These deportations this not allowing them You know an opportunity to gain entrance into our country is just an tour. And i'm outraged and this administration can do better than this and i'm telling them so. You know In the last month the biden administration granted a new temporary protected status or tps designation to haitians already living in the us To protect them from deportation for at least eighteen months at the time secretary of homeland security. One hundred my orcas cited haiti's political and economic crises human rights abuses and other security concerns the pandemic shortages of food clean water and healthcare as reasons for extending the tps protections for haitians in a statement. He said quote after careful consideration. we determined. We must do what we can to support. Haitian nationals in the united states until conditions in haiti improve so they may safely return home now. That was before all of this. But now the biden administration is blocking the haitian asylum-seekers from entering the united states to apply for refuge and instead mass deporting them thousands of them not to mention the whipping of them Yesterday there was breaking news. I thought they were going to say they're going to stop the deportations in line with their previous policy but instead they said they won't use the men on horseback whipping the haitian asylum seekers anymore. I mean that is a weak response. And i haven't heard from the president This country hasn't heard from the president. Needs to speak up. And he needs to articulate. What the real policy is what the humane policy is going to be You mentioned in your opening That the special ongoing Quit after have only been You know appointed Just a few months ago. And he said he was in disagreement with administration's policy and. I don't think he would have done that unless he understood. Having talked with those in the state department and others that they have no intention of doing the right thing and so we're in an awful situation a situation we find ourselves in which edge to the undermining This disrespect The basically Hatred of patient not only.

biden administration House financial services commi us haiti cowboys
"house financial services" Discussed on Native Opinion Podcast an American Indian Perspective

Native Opinion Podcast an American Indian Perspective

02:50 min | 1 year ago

"house financial services" Discussed on Native Opinion Podcast an American Indian Perspective

"The house financial services committee is considering adding provisions to a bill to reauthorize federal housing funds. That would withhold some or all those funds from tribes founded violation of their treaty obligation to these black native americans known as the friedman. Okay there are two words there that are really important treaty obligations. I've heard those words tossed around often as i'm just going to say as a crucial to force the united states to honor their treaties the treaties made with these four tribes in oklahoma or treaties to bring the friedman into their tribes as tribal members. So wouldn't you think they'll try to need to honor their treaty obligations as well. My guess is yes. Here's a quote. Excuse me for one minority group to discriminate against another group as the chair of this committee. I don't intend to. I don't intend excuse me to stand for it. In quote said representative. Maxine waters democrat of california and chairwoman of the house financial services committee. Miss waters is a senior member of the congressional black caucus and is used her influence to advance racial equality measures and i applaud. Miss waters for that..

house financial services commi friedman oklahoma united states Maxine california
Elizabeth Warren,  JPMorgan CEO Spar Over Overdraft Fees at Senate Hearing

Bloomberg Daybreak Asia

00:56 sec | 1 year ago

Elizabeth Warren, JPMorgan CEO Spar Over Overdraft Fees at Senate Hearing

"Senate Banking Committee heard from CEOs of the sixth largest American banks. They were pressed about boosting lending, raising wages and diversifying stuff. Massachusetts Senator Elizabeth Warren noted the JP Morgan Chase made almost $1.5 billion from overdraft last year. She pressed JP moving Jamie Diamond and called him quote the start of the overdraft show. So here's the thing. You and your colleagues come in today to talk about how you stepped up and took care of customers during the pandemic, and it's a bunch of baloney. In fact, it's about $4 billion worth of baloney, but you could fix that right now. FBI See, reports said banks thrive through the pandemic. The industry generated a record $76.8 billion in profits during the first quarter. Democrats wonder why more of that money isn't going to middle class and low income families. They look for more answers. Tomorrow is all street, Sears testified before the House Financial Services Committee. It

Senate Banking Committee Senator Elizabeth Warren Jp Morgan Chase Jamie Diamond Massachusetts FBI Sears House Financial Services Commi
S.E.C. Chair Gensler Emphasizes Transparency in Markets

WSJ What's News

00:39 sec | 1 year ago

S.E.C. Chair Gensler Emphasizes Transparency in Markets

"The securities and exchange commission is exploring new rules for brokerage apps that gamified trading speaking to the house financial services committee today new. Sec chair. gary gansler said applications that use visual graphics to reward a user's decision to trade might result in worse outcomes for investors gansler said that the current investor protection were written before trading move to online platforms. The hearing comes after a boom and trading through apps like robin hood drove several stocks including game. Stop and amc to record heights. Robinhood says that it reduces barriers to investing but doesn't gamified trading

House Financial Services Commi Gary Gansler Gansler Securities And Exchange Commis SEC Robin Hood Robinhood AMC
How Would Financial Transaction Tax Affect Retirement Plans?

Raleigh's Retirement Coach

04:02 min | 1 year ago

How Would Financial Transaction Tax Affect Retirement Plans?

"Biden Well, he wants to study the idea of a financial transaction tax. Lots of your tax that you'd pay each time you buy or sell a stock Congressman Patrick McHenry. He's among those that believe this would be an absolute disaster for our retirement accounts. The financial transaction tax is intended only had Wealthiest, But when average everyday investors still buy stocks and bonds, they're gonna be hit. There's one study that shows that people have to work an additional 2 to 3 years in order to make up the difference for this financial transaction tax, a transaction tax talk. Talk to me about that. How will that affect our retirement badly? Just I hope they stop studying that and work on some other things. A lot of Democrats have backed his tax and its own stock trading. As a way to raise badly needed revenue and address concerns about the health of financial markets. So House Financial services chairwoman and Maxine Waters said she's quote unquote very interested and quote unquote certainly looking at a financial transaction tax, so they want to put a 0.1% federal tax on stock. On and derivative transactions in there saying, Hey, this could raise $777 billion over the next decade, according to a 2018 estimate by the nonpartisan Congressional Budget Office. But first of all attacks like this would have fierce opposition from Wall Street, and it's unclear whether even the moderate Democrats would support it and opponents warn Hey, this is going to backfire on the retail investors by raising costs and making financial markets less liquid. Because look is going to trickle down and everybody who knows stuff like this and what I means not trickle down. Economics is trickle down. If you want to put something every time somebody buys or sells a stock every time. Well, most people inside a four Oh, one case they're buying and selling stocks that that's that's what's going on. It's not going to just impact the wealthy, and if you're going to start putting taxes like that on there, it's going to be hard for people to accumulate more and save more for retirement. When every time you buy and sell is going to trigger attacks blood, there's some other stuff We already know from attacks perspective that that's coming with a new administration. That's bad enough. We don't need this one. But don't you also think that people who maybe want to try their hand it doing buying and selling some stocks, or maybe I just want to dip my toe in it to see if I'm comfortable with it. Well, now, if I know I'm going to get taxed every time, even if I'm just learning the process, I'm going to step back and say Maybe this isn't for me because this had more of a negative ripple effect than they perceive. I don't even think they're looking at that. I think what they're looking at us, man. We're getting ready to write this check for 1.9 Trillion. We wrote trillions last year how we're going to cover this stuff because right Now there is no plan to figure out a way to pay this money back other than keep printing more, and that's not a plan. It's you know, just kind of hoping for that. I'm not even gonna say Get out. Get out frosted hope for the past. Pray for you know, it just it doesn't make. It really doesn't make dollars and sense. The only benefit to this is He is going to raise revenue for the government to cover all the debt that we have. I mean, that's it's not something that's gonna discriminate between the wealthy and the middle class. It's just not going to do that is going to impact everybody and maybe they don't care. I don't know, but it really doesn't make sense. It's just it's a shortcut just being You know really good at what they're trying to do. And just a little loophole here, we're gonna slide this little tax in and maybe maybe maybe nobody knows where people won't think it's so small that it's not that big of a deal, but it is every time that's a huge deal and how you're going to do that on retirement accounts, Retirement Council tax deferred. So now you're gonna have somebody pay a tax on account that's growing tax deferred. So you're gonna have to pay taxes on money that you are using that Shelter, but it's sheltered from income tax. But it's not going to be sheltered from the quote unquote federal just transaction tax like

Patrick Mchenry Maxine Waters Biden Congressional Budget Office Retirement Council
Acting Capitol Police chief testifies about Washington DC Capitol riot

The Mock 'N Rob Show

00:22 sec | 1 year ago

Acting Capitol Police chief testifies about Washington DC Capitol riot

"The capital Riot back under the microscope in Congress, the House Financial Services Committee holding a hearing today on the economic impact of the riot and on the policing and security measures at the Capitol. Testimony expected to be from acting capital pull He's chief who will likely be asked about to the 35 Capitol police officers who were currently under investigation for their actions. On the day of the riot.

House Financial Services Commi Congress
House Financial Services Held Hearing on the Buying and Selling of GameStop Stock

Todd and Don

00:33 sec | 1 year ago

House Financial Services Held Hearing on the Buying and Selling of GameStop Stock

"Services Committee had a hearing on the buying and selling a Gamestop stock of the social media website. Reddit Jaime Roldos Inskeep, the founder of Red. It's Wall Street bets form, says he doesn't expect the trend of short term Trading to stop any time soon because of the success that was seen with Gamestop. Now that these retail traders have gotten the teeth for it, it's gonna be really difficult to put the cat back in on that bottle. Especially now that there's such a huge, huge collective number of them. Answer says It shouldn't be a lot of new regulation when it comes to the stock market in the future. With the

Services Committee Jaime Roldos Inskeep Gamestop Reddit
Robinhood and Reddit in the spotlight during GameStop congressional hearing

Bloomberg Markets

00:31 sec | 1 year ago

Robinhood and Reddit in the spotlight during GameStop congressional hearing

"The CEOs of Robin Hood's Citadel and read it are going to be on Capitol Hill today. To answer the for the massive swings and MIM stocks before the House Financial Services Committee. New York Democrat Gregory Meeks sits on the panel. He tells Bloomberg. He wants to know if retail investors were taken advantage of Basically that you know, the name of the subcommittee that's in charge is invested protection. Make sure that the average everyday investor is protect that hearing gets under way at noon. Wall Street Time stay with Bloomberg Radio for

House Financial Services Commi Democrat Gregory Meeks Robin Hood Capitol Hill Bloomberg New York Bloomberg Radio
Robinhood-GameStop hearing will scrutinize how brokerages get paid for trades

Wall Street Breakfast

01:19 min | 1 year ago

Robinhood-GameStop hearing will scrutinize how brokerages get paid for trades

"Game stop hearing on capitol hill stock market versus casino and news from down under leading. Today's news grab the popcorn. Robin hoods vlad. Tentative melvin capitals. Gay plotkin rutted steve. Huffman and citadels kenneth griffin and keith. Gill are also to testify. Before the house financial services committee at twelve pm eastern lawmakers will get their chance to grill the executives and hearing focused on short selling online trading platforms gamification and their systemic impact and our capital markets and retail investors. Also making an appearance is read it trading star known as warring kitty who is credited with helping start the game stop mania though his actions are being pro by massachusetts regulators since he was a registered securities broker an army of day traders following wall street bets the red at forum dedicated to quote making money and being amused while doing it up ended some market dynamics last month by taking aim at some heavily shorted stocks they ran them up as a group triggering short-squeezes and causing some hedge funds like melvin capital to record billions of dollars in losses. The party came to an end after brokerages restricted trading on stocks like game. Stop an amc entertainment. Though robin hood took the most flak due to its communication about the events and delay and taking curbs off of a meme trading

Melvin Capitals Gay Plotkin Kenneth Griffin House Financial Services Commi Robin Hoods Huffman Gill Keith Steve Mania Kitty Melvin Capital Massachusetts Amc Entertainment Robin Hood
GameStop Frenzy is Focus of Hearing in Washington

WSJ What's News

00:49 sec | 1 year ago

GameStop Frenzy is Focus of Hearing in Washington

"Recent frenzy surrounding the shares of game stuff will be the focus of a hearing today by the house. Financial services committee in washington. Here's the journal's paul curated you're going to hear people talk about short-selling and whether there's enough transparency around that which is a question that the securities and exchange commission is also looking into during here about the role of social media and you're also going to hear about. Gamification is a term that describes the robin hood trading platforms use of push notifications and graphics like digital confetti and free shares to encourage its users to trade as much as possible. The ceo of the online trading platform. Robin hood is among those expected to testify. We'll keep you posted on

Financial Services Committee Securities And Exchange Commis Journal Washington Robin Hood
"house financial services" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:37 min | 2 years ago

"house financial services" Discussed on Bloomberg Radio New York

"On around the world, John and Karen Senate Republicans will be quickly to set their strategy for confirming President Trump Supreme Court nominee The senator's focusing at whether they could move fast enough to get it done before Election Day. The U. S is approaching 200,000 deaths from Kobe 19. Meanwhile, Apple is predicting a permanent change with remote work and tropical Storm beta flooding. Southeastern Texas. It's the Atlantic's 23rd storm for this year. Sports Monday night Football. The Raiders beat the Saints in the Stanley Cup finals. Tampa Bay, Even their Siri's with Dallas at a baseball Yankees and Mets both lose the Nationals win Global news 24 hours a day on their hand on Bloomberg. Quick, take power by more than 27. Other journalists and analysts it more than 120 countries. I'm John Tucker, This is Bluebird. Nathan. Sorry, John. Thanks for live from the Bloomberg Interactive broker studios. Worth 6 48 on Wall Street. Time to check what's going on in D. C. Some of the top stories from our nation's capital include President Trump zeroing in on Judge Amy Cockney Barrett as his top choice to succeed the late Supreme Court Justice Ruth Bader Ginsburg. Joe Biden isn't saying whether he would add more justices to the high court. And Chairman Powell will say the U. S. Faces a long, uncertain recovery when he testifies later this morning to the House Financial Services Committee, also making news as John mentioned Senate Republicans crafting their strategy to confirm President Trump's high Court pick. Let's get more on all these stories from Bloomberg, US politics editor Kathleen Hunter, of course with Kate. We've heard this week from the president, saying that he has four or five nominees in mind that he wants her confirmed before Election Day. Can Republicans in the Senate? Pull that off? Well, I think that's precisely Nathan. What the Republicans in the Senate are trying to figure out right now they're going to meet today and their typical, You know, Tuesday caucus lunch where they and they will be, of course, the first one they're having since this development and so I think that's what they're trying to fast. It seems like there is widespread support for Considering a nominee this year, But the big question is whether they'll consider it before or after the election. Right. So where do things stand at the moment? And what is the calculus that senators were looking at? When they decide whether or not to do it before or after Election Day? Well, it's really a numbers game. You know, there's 53 Senate Republicans. That means that you know that they need about three or four of them, Tio break away and join the Democrats to be in trouble on the Republican side. And so I think they're looking at a few folks Susan Collins of Maine, the summer calc of Alaska. On court gardener, potentially of Colorado, Mitt Romney of Utah. There's sort of this handful of folks that are going to be pivotal in determining whether or not this is going to move forward before or after election Day, and I think what they're going to try to do is talk to the folks today and then you know, Of course, it's going to depend on who the nominee ends up being. But some of this is just an institutional policy question. And so I think that What they're going to try to suss out with greater detail. Is there anything that Democrats conducive to try to slow down or stop this process being in the minority? There's really not a whole lot they can do. And part of that has to do with the changes that have come about in recent years, a big part of that Senate rules where it used to require many more votes than it does now. Now. It just requires a simple majority to get a Supreme Court justice through the chamber. And so that change, which came about a few years ago has really sort of Completely overhauled the way in which Supreme Court nominees are considered in the sense that you no longer really has to get the support of the minority party, and that has the effect in this case of really limiting what tools Democrats have at their disposal to try to slow down on certainly to block this nomination. No. One phrase We've heard a lot from Democrats this week is that if a nominee is confirmed quickly, nothing is off the table and something that we've heard a lot. In includes the possibility of stacking the court expanding the number of seats on the high court. Where does Joe Biden sit on that? I guess he was asked about that this week. She was his asset. And yesterday he said that he didn't really basically declined to comment on it. And so he and the past is opposed. The idea of you know what he described which is referred to the court packing He has spent the past but it's not good in part because I think there are fears out there that you know if one side starts saying what we don't like the nominees that we're just gonna add more of our nominees than nothing stops the other party when they joined when they get the power and doing the same thing, and suddenly you know not to be facetious. But you have you know, a 50 member Supreme Court where each president just Add more members and that that obviously has, you know, institutionalist use that it breeds, and so I think that's been the concern that's been out there. But the problem that Biden has that this is an idea right now. That's being pushed by the more liberal wing of the party. And that's a faction of the party that he already has. Some trouble with And so I think the concern for Biden but fit for Biden is to try to spread this needle and not seem too closed off the idea that Ellen it's liberals while at the same time not committing himself to it. What's the difficulty, though, for Biden to try to thread that needle, given that in his past statements on the Senate floor when he was a senator, he vocally opposed to the idea of expanding the court. Well, that certainly doesn't make it tricky. I mean, I think for him, you know, he's a former judiciary chairman. His record on not just this issue, but a lot of issues is very long decade long in many cases, and so, you know, he certainly has been on the record against court packing in the past, and I think that in that in those terms affected, he's declining to repeat that opposition is the way that he's trying to thread the needle for now, and I think if he does decide that shows some additional openess to that idea, You would probably talk about the idea about the fast really that circumstances on the ground of changed back when he opposed it. You know, that was when there was a filibuster proof majority required to get a set Supreme Court nominee through that's not the case anymore. All right. Let's talk about some of the nominees President Trump is considering in one name that seems to be emerging as the front runner is Judge Amy Cockney Barrett. What's her appeal for the president? Well, that's old, I'd say, you know, primarily, she has strong credentials on strong anti abortion credentials. You know, that's a very important issue for the Republican base and could have the effect. Of, you know, helping to spur Trump's most loyal supporters to the polls on Election day. She's also from the Midwest and as a Midwesterner, we know that some of these rustbelt states like Minnesota, Wisconsin and Michigan are going to be very important this year, so she might have an appeal that way as well..

Supreme Court Joe Biden Senate president President Trump John Tucker senator Judge Amy Cockney Barrett Bloomberg Court Nathan chairman Republicans Karen Senate Texas Bloomberg Interactive Justice Ruth Bader Ginsburg Raiders Apple
"house financial services" Discussed on Biz Talk Radio

Biz Talk Radio

02:27 min | 2 years ago

"house financial services" Discussed on Biz Talk Radio

"The chairman said that Treasury thanks Treasury Secretary Mnuchin Chairman, Pal and Mnuchin are testifying between before the House Financial Services Committee commit either probably going to be answering some Very important questions. At least. As the world watches the Progressive laid. House. As they ask questions. Congress approves in March About $450 billion first round off Treasuries to cover losses and emergency lending programs by the fame. Now they're gonna want to get some verification of what that has done and how it is doing. Offense that on Sunday That it has identified 794 companies whose bonds It is purchasing too directly support corporate bond markets. The largest beneficiaries will include apples horizon. T. So the U. S units of Toyota Motor Company Volkswagen. Diamond. All goingto receive some of these Some of this easy money will say. Corporate day or exchange traded funds and in Vestments in corporate debt through June 24 it has begun puncher purchasing. Those binds. Self The purchases around $200 million a day. Of bonds over the 1st 2 days of the initiative. So the chairman very active. Buying for the first time ever. This is unprecedented by the Federal Reserve. US. Corporate bonds US unemployment rate highlights a number of day number of issues and data that is coming out this week. Which are going to expect to show economic growth as.

chairman US Chairman House Financial Services Commi Treasury Federal Reserve Toyota Motor Company Mnuchin Congress Volkswagen
Mnuchin and Powell to Offer Mixed Views of Economic Recovery

Bloomberg Daybreak: Asia

01:00 min | 2 years ago

Mnuchin and Powell to Offer Mixed Views of Economic Recovery

"So well here in the U. S. We heard today from a Fed chair J. Powell. He said getting the corona virus under control was vital to the American economy. Path forward for the economy remains extraordinary, really uncertain and will depend in large part on our success in containing the virus. A full recovery is unlikely to occur until people were confident that it's safe to engage in a broad range of activities. Path forward will also depend on policy actions taken at all levels of government to provide relief and support the recovery for as long as needed. That is Powell, speaking earlier today to the House Financial Services Committee that was obviously done virtually, he said, Even though the economy is bouncing back challenges remain. With respect to the virus parts of the U. S air, taking steps to scale back re openings as infections do surge and then you've got the issue of monetary policy and fiscal policy for that matter as well. Because they've been unleashed at a massive levels to try to support the American economy. During this

J. Powell FED House Financial Services Commi
"house financial services" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:13 min | 2 years ago

"house financial services" Discussed on Bloomberg Radio New York

"Wait for the House Financial Services Committee to begin its hearings where they're gonna be asking questions of chair J. Powell of the Federal Reserve and as well as the secretary of the Treasury, Stephen the Nature, and as we Wait return, once again to our colleague Michael McKee, his Bloomberg chief economics and policy correspondent. So one of the congressmen good, really interested in were going to ask chair Powell about he's got a lot of programs. How many's have up running running age. Is it now? He's got all nine program's up and running, David, although a couple I haven't seen any action, but they did get the Private credit program up the primary credit program of the one that would lend directly into American corporations by buying their bonds that was announced yesterday. It is In theory operational, we will take a while before we see if see how many they buy and how much they spend. But that could be a $50 billion program. The question is, does anybody needed at this point? Because spreads have come down so much and you gotta pay 100 basis point fee to sell your bonds to the Fed. Is that going to get a lot of use at this point we have seen the Fed in the secondary program, which was a big deal of the markets a little while ago spent about $8 billion so far, not all that much out of the 25 They had to spend buying some buds from some big companies like Wal Mart, but it's not like anybody at this point really has a problem getting credit. In those areas. The question is going to be the main street program, and that's probably going to be the focus for the people up on Capitol Hill. It went operational about two weeks ago. But so far there haven't been any loans made is that because companies don't want to borrow at the rate the Fed is going to have to charge is that because everybody went out and got loans already, that's going to be an interesting aspect of the questioning today. Clues. That mean Street program has been a problem sort of thorn in their side so far, because it took him so long to get up and running, but about any other even though they didn't actually buy too many bonds. A bigger part, Mike, I'm gonna interrupt myself And you as well. We now can go to the House Financial Services Committee. This is chair Maxine Waters. They're going to be talking to the chair of the Federal Reserve. J. Paulus. Well, a secretary Mnuchin. The hearing. And I thank you. So without objection, the chairs authorized to declare a recess of the committee at any time. I want welcome all members and our distinguished witnesses to the first full committee hybrid hearing. Being conducted by the Committee on Financial Services. As Congress breaks new ground with these remote hearings, I want to remind members of a few matters, including so required by the regulations accompanying House Resolution 9 65 which established the framework for remote and hybrid committee proceeding. Birth would ask a home number's on the Web checked blood born to keep themselves muted when they're not being recognised this Minimized disturbances. While members are asking questions of our witnesses, Remember Gatto WebEx platform a responsible for amusing and amusing themselves. The SAS have been instructed not to new members except would not recognize and their inadvertent background noise. Members on the Web platform reminded they may only in one remote hearing at a time. So if you are participating today, please remain with us during the hearing members should try to avoid coming in and out of the meeting. Particularly during the question period is doing the hearing members wish to be recognised. The chair recommends that members identify themselves by name, so it facilitates the chairs recognition. I would also ask that members be patient. As cheerful sees. Given the nature of the online platforms. The committee is using position the chair informs the members participating in person. That enforcing order on decorum in the hearing room, the chair has a duty to protect the safety of members. The attending physician provided the following dyers for U. S. House of Representatives meetings in a limited enclosed space. Such as the committee hearing room for greater than 15 minutes. Face coverings are required. According to the accordingly the chair won't treat wearing that as a matter of order and acorns, and all members should wear masks. Take care has a strong preference for members to continue to wear masks even allow recognized members who don't have wished to where math may participate virtually through the Web for him. Before proceeding to the hearing. I have one too many business matter without objection to resolutions distributed in advanced their own members. Offices establishing committee task forces for the remainder of 2020 are approved. This hearing is entitled Oversight of Department of the Treasury Departments and Federal Reserve's Pandemic Response. This hearing is the committed first quarterly hearing required by the Carriage act, but oversight of the various facilities and programs under the act. I'd like to inform members that are witnesses have a heart stuff today into a car and now recognize myself before members four minutes to given over the statement. Secretary Mnuchin here of how welcome back the pandemic continues to have a terrible impact. More than 126,000 people have lost their lives in the United States. And this past Sunday, there were 20,000 new cases of Corbett night, Jean The highest number of daily cases. And so the unemployment rate in May was 13.3% nearly four times higher than it was last May. All of the job gains of the past decade have been wiped out. Communities of color have effective disproportion have been affected disproportionately, both by the Barrys and its economic impact. The Centers for Disease Control reports that as a Jew, black and Latin action Americans before 25 times more likely than white To be hospitalized. 19 And half of all black adults are not working. Doing the 2008 foreclosure crisis. We saw a similarly disproportionate impact on communities of color. This was followed by an unequal recovery where white households Gehna well, they love black and brown households are still trying to catch up. We cannot endure another unequal crisis. I'm equal recovery. Your agencies and Congress must do all that We can To ensure that history doesn't repeat itself. So I want to thank both of you for your efforts does for and by the ways that you have worked with me and my members of this committee, including taking my many calls to strengthen the implementation of the carjack Secretary Mnuchin. You have used your authority to provide community development. Financial institutions that is a city of eyes and minority depository institutions are empty eyes..

Federal Reserve House Financial Services Commi secretary Congress Committee on Financial Service J. Powell Treasury Michael McKee Maxine Waters Secretary Mnuchin Stephen David Wal Mart Bloomberg U. S. House of Representatives Mnuchin United States J. Paulus Centers for Disease Control
Fed Chairman Says Economy Faces 'New Challenges' from Virus

Bloomberg Daybreak

00:55 sec | 2 years ago

Fed Chairman Says Economy Faces 'New Challenges' from Virus

"Washington Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin weigh in on the economic toll from the pandemic when they deliver remarks to the House Financial Services Committee today. Bloomberg Economics correspondent Michael McKee reports. The Fed chairman will stress the importance of keeping the Corona virus contained as the U. S economy comes back. The rebound came perhaps sooner than expected, Paul says in his prepared remarks released last night by the Fed. While this bounce back in economic activity is welcome. It also presents new challenges, notably the need to keep the virus in check, he says. Howl and Treasury Secretary Mnuchin will face questions from members of Congress on the disposition of the $2.7 trillion they've already appropriated. Has it saved jobs. How much has been lost to the Washington boogeyman of waste, fraud and abuse? Both are expected to argue the urgency of getting money out the door outweighs errors made And both are expected to tell Congress much more needs to be done to keep the

FED Chairman Steven Mnuchin Washington Bloomberg Economics Paul Congress Michael Mckee Jerome Powell House Financial Services Commi Fraud
Pelosi announces new select committee to oversee coronavirus response, setting up clash with Trump over $2 trillion law

Coast to Coast AM

00:40 sec | 2 years ago

Pelosi announces new select committee to oversee coronavirus response, setting up clash with Trump over $2 trillion law

"As Democrats continue their efforts to draft another covert nineteen virus economic stimulus package and the committee to oversee it when the Kenyan reports all the helpful activity on the coronavirus cry during a conference call with reporters house speaker Nancy Pelosi said the purpose of the committee will not be to produce an after action report the committee should be acting before the fact to prevent a lot of waste fraud and abuse systems were redundant house minority leader Kevin McCarthy isn't on board neither is Republican French hill who serves on the house financial services committee he says Congress should have just two priorities right now kill the virus and get this economy back to full capacity

Fraud Kevin Mccarthy Congress Nancy Pelosi
Supreme Court to hear 3 cases involving Trump's finances

Press Play with Madeleine Brand

06:41 min | 2 years ago

Supreme Court to hear 3 cases involving Trump's finances

"Other Supreme Court action and the court has agreed to take up a major case about president trump's tax returns at issue whether the president can block Congress and state prosecutors from getting those financial records sets up what's likely to be a landmark ruling on the powers of the presidency and a test of the courts independence it's Monday so that means one thing I believe illegal is in the house Jessica Levinson law professor at Loyola law school hi that's the only thing Monday me means to me the best thing about Monday okay SO three subpoenas at the heart of this case to from Congress one from the Manhattan DA what are they about so they're all about somewhat similar but different things essentially they're asking for information regarding for instance the hush money payments that were made to stormy Daniels and to Karen McDougal to not talk about the fact that they allegedly had affairs with president trump they're also asking for information regarding whether or not there is any money laundering related to Russian interference with the presidential elections so there is again this one request by Cyrus Vance the New York district attorney essentially he's trying to access cute a subpoena that came from a grand jury saying we want this financial information from you and then there's two cases dealing with congressional committees who are saying we want various types of financial information from you president trump because we're looking at things like whether or not you might have committed banking or tax fraud whether or not we need new ethics rules in place and so we need that information to make those determinations so these are all separate cases but they're all rolled up into one decision possibly possibly so I actually think that there's a decent chance that the court will take these kind of piece by piece and that we might see a patchwork decision in part because it's going to be a hard to get consensus I think come these cases in part because they actually do raise somewhat different questions to the New York case obviously deals with state criminal proceedings that's a little bit different from congressional oversight which brings up separation of powers issue how interesting okay so in the New York case they're seeking I think Cyrus Vance's seeking eight years of business and personal tax records so a lot of information is the trump administration arguing while you can get this information now because he's the president they are they're making this really broad argument that the sitting president United States is always constitutionally immune from not just being let's say indicted by federal prosecutors are state prosecutors but investigated and so the judge in this in these oral arguments said to president trump's representative essentially do you mean that if the president shoot someone in the middle of New York we can't investigate and he said right there constitutionally immune and that really did drop breaths in oral argument and this is one of these cases where you have to think not do you want president trump to be able to claim this constitutional immunity but do you want every other president to say not that you can't indict me but you can't even look in to me and I think that this is a case where we might see actually more consensus by the Supreme Court we could see something closer to you in eight one decision let's say where is for the congressional cases that this over arching case brings up I think you could see more division and it's worth noting that the lower courts have sided with Vance in this case and with Congress so for all of the three separate decisions the lower court the federal district judges and then the court of appeals have all cited with either the prosecutors or Congress so president trump has lost repeatedly in everyone of these cases but we've seen this happen before we sought for instance with respect to the travel ban we're seeing we thought a little bit with respect to the census that was a difficult decision by the Supreme Court but where there's universal losses on the lower court level and then something different happens on sprint car so what what about the other two with the house oversight and house financial services and intelligence committees there so they're the ones who are asking for these other records to possibly look into possible money laundering what is the argument there so from the trump administration so the argument from the trump administration is essentially you don't have a legitimate legislative purpose for asking for this for your dishing expedition right you're just on a partisan which are so if there's pending legislation and you want to try and get information for that legislation then okay but if you're just casting about trying to essentially throw this versions of bomb the sitting president then that's not okay now it's important to actually remember when we talk about congressional oversight one it's not actually something that's in the constitution we just understand that it's a constitutional power but also Congress has actually brought authorities so they don't have to just say there is legislation pending Congress also for instance has the power of the purse so if they're being asked to appropriate money they can look into whether or not that's a good decision to appropriate that money so arguably the president saying you don't have a good legislative purpose is maybe even a bit too narrow an argument of course this is all coming down against the backdrop of impeachment and so how is that figuring into the supreme court's I don't know not necessarily decision with the decision isn't expected till June but its calculation when I hear these arguments well so those are two totally separate tracks and I tied it to talk to my students about this in the sense that what's happening in the courts is in fact different from what's happening in the house or what's happening in the Senate chambers now of course it's not totally separate in the sense that impeachment is can grass it's the ultimate congressional oversight so impeachment is Congress looking at the present United States but for impeachment we know Congress has a good reason they don't need a legitimate legislative purpose for impeachment it's in the constitution it says Congress has the sole power to impeach the president in so it yes it's all overlapping because it deals with you essentially president trump and whether or not he engaging problematic behavior but it's separate because impeachment is very narrowly just on this issue of what happened with respect to president trump and presents Lewinski of the

Donald Trump President Trump Congress Supreme Court Eight Years
House Financial Services Committee Hearing - Facebook

Overnight re-air of day's programming

06:55 min | 3 years ago

House Financial Services Committee Hearing - Facebook

"Radio we were bringing you live coverage of the house financial services committee hearing earlier they took a brief intermission the hearing has now resumed hearing testimony from Facebook co founder and CEO mark Zuckerberg on the future of Facebook we join it in progress America is as a financial leadership our ability to impose sanctions around the world are our oversight of the financial system a lot of places I just think that we need to trade off and and think about it in in a way you any risks of a new system against what I think are surely risks if if a he is a Chinese financial system becomes the standard in in more countries because then it would be very difficult if not impossible for us to impose our sanctions or the kinds of protections that that that I think we're right to wanna have oversight around the world on on on on on all these different countries and that's not something that I worry about on the first page your testimony you state we face a lot of issues over the past few years and I'm sure people wish it was anyone but Facebook I appreciate that your address issues you had on and I'm probably run out of time so I'll stop right there I do want to give my time back and also say I'm really glad you're catalyst thank you for being here thank you gentleman from Connecticut Mister Hines is recognized for five minutes thank you madam chair Mr Zuckerberg thank you for being here I want to take a slightly off topic today because I sit on the intelligence committee and I'll never forget looking at the thousands of Facebook ads and Twitter posts that the Russians had purchased in order to attack our democracy those posters you know played on the painful and an off an explosive divisions in our society race and gender and religion I'll never forget in particular opposed it was in Spanish that urged people presumably Latino people to vote on their cell phones and I wonder how many actually did I read your recent species speech at Georgetown a couple of times actually on freedom of expression and and and I really celebrate your commitment to freedom of expression but if you don't mind my saying it also came across as one sided it's spoke about Martin Luther king and civil rights and the importance of black lives matter having a voice but I didn't say anything about Indian Muslims killed because somebody used a Facebook post to organize a mob or rocking guys dying in Myanmar because the authorities used as opposed to organize a mob and my point is obviously that what your Georgetown speech missed in my opinion is that like all of our rights freedom of expression is really hard at least it's really hard if it means anything it means that the government will defend the rights of **** to March through and Jewish neighborhood in Illinois it means we'll spend our taxpayer dollars to defend the right of a black football player to take a knee during the national anthem it'll defend the right of an American to burn the American flag with all of the passions and anger and emotion that that would generate so back in seventeen eighty eight we didn't just naively say pre to mix of expression is a good thing we put in place and committed the resources and invested in those things that would make a swarthy to live in a context of freedom of expression we stop was regulation through a democratic and transparent process we spent a lot of resources to regulate commercial speech and most importantly we invested trillions over the years in educating Americans so that when they see something that they hate instead of picking up a gun or a knife they actually formulate a rebuttal the town I live in invest about half of its tax revenue in education so my question is really simple Facebook and I'm a customer today is more like a country in my opinion then like a company you have global reach apparently half of Americans get their news from Facebook so my question is really simple given the investment that we made in establishing the context for freedom of expression what commitment will you make what investment will Facebook may you have almost fifty billion dollars in cash on your books tell us what investment your making so that this freedom of expression which you enable is a good thing rather than a bad thing so that the good side of freedom of expression overwhelms the role he is an Indian Muslims and all that can be bad coming out of freedom of expression congressman thank you for the the opportunity to address this a number of these risks in in the speech that you referenced but you know at a high level I think you're you're right when you serve billions of people even if only a very small percent of them use our services to do harm that can still be a lot of harm and we certainly have a big responsibility to make sure that we address all of the new threats that come from the internet and is well as existing threats had been there all along so that there is so this is something that in terms of our our resources and what we're doing notice since twenty sixteen we've built much more sophisticated a I systems to proactively identify harmful content now ninety nine percent of the terrorist content that we take down ari I systems identify and remove before anyone sees it but that's that's the kind of thing that we want to be doing for all of the categories of harmful content but let me stop you there because I got that I get that and that's important but what I'm really looking for is what is the parallel commitment that Facebook will make with its half trillion dollars in market cap and fifty billion dollars in cash what investment will you make an education in good public discourse in basic decency I'm looking for a commitment I say for what you will do to help make this society worth of free expression so I think it's it's two things one is on the safety side it's a major investment in practically eliminating harm and then on the active side we're gonna be investing a lot more in in in in partnerships with high quality journalists and publications to foster that kind of content but you know as I mentioned earlier we don't have more than thirty five thousand people in the company who work on safety and security we spend billions of dollars a year on it it's a very significant portion of our of our budget expenses we spend more money now on safety and security here the whole revenue of our company was at the time that we went public just earlier this decade so a lot of the things that we're doing now simply just would not have been possible even in a six or seven years ago for us to to do and but now you know we're a big company I feel like we have a responsibility to do this and it might it might might my time is expired I think you have a responsibility to do more than police I think you have a responsibility to

Facebook Co Founder CEO Mark Zuckerberg Fifty Billion Dollars Ninety Nine Percent Trillion Dollars Five Minutes Seven Years
Facebook CEO Mark Zuckerberg grilled on Capitol Hill

Orlando's Evening News

01:11 min | 3 years ago

Facebook CEO Mark Zuckerberg grilled on Capitol Hill

"Today Facebook CEO mark Zuckerberg was at the hill today we've been telling you about that get a whole lot of different questions from lawmakers but before that may show he was up there really this is all as he continues to promote Facebook's new attempt agreed a crypto currencies called libra that's right Facebook soccer Berg was back on Capitol Hill centering around that cyber currency that you mentioned and what he wants to create and maintain and sort of make a cornerstone of Facebook in the future this of course he was testifying before the house financial services committee today and they're they're pretty leery both across the aisle both Democrats Republicans asking some tough questions here today on how Facebook can ensure that if they move forward with this cryptocurrency how they're going to protect people's rights how are they going to protect the cyber currency from you know being used for nefarious purposes and you know to hide sort of funds going through each for drug trafficking or for any other thing that's you know becomes sort of a hidden sort of currency that is been the regulators sort of big in a red herring all along they're worried about the cyber currency and how they can be used for criminal

Mark Zuckerberg Facebook Berg CEO
Facebook's Zuckerberg grilled in U.S. Congress on digital currency, privacy, elections

WBZ Afternoon News

00:25 sec | 3 years ago

Facebook's Zuckerberg grilled in U.S. Congress on digital currency, privacy, elections

"Oh one hours of questioning today on Capitol Hill for the CEO and founder of Facebook mark Zuckerberg he defended the company's project to create a new digital currency called libra the company's been facing more scrutiny from regulators and lawmakers on the house financial services committee did not hold back on him either putting Massachusetts rabbi on a Presley and this was a cupboards first testimony to Congress since April of twenty

CEO Founder Presley Congress Facebook Mark Zuckerberg Massachusetts One Hours
Facebook CEO Mark Zuckerberg faces Congress

Morning Edition

03:36 min | 3 years ago

Facebook CEO Mark Zuckerberg faces Congress

"Facebook CEO mark Zuckerberg is testifying on Capitol Hill right now and he's facing a tough audience from disinformation and hate speech to a collection content is companies under pressure plus today he'll need to give specifics on Facebook's plan for a new digital currency and here tech correspondent Shannon bond has the story and I should note that Facebook is one of NPR's financial supporters the last time mark Zuckerberg testified at a congressional hearing he was under fire over whether a political consulting firm use the private information of Facebook users as part of an effort to sway the twenty sixteen election a year and a half later that immediate crisis has passed but Facebook is under even more pressure and scrutiny today democratic presidential candidate Elizabeth Warren says Facebook has too much power I say it's time to break them up let's enforce the anti trust laws yes mark Zuckerberg I'm looking at you this started as a place for college students to find each other but now it has become the world's most influential social media site and a crucial place for politicians to reach voters along the way it's become vulnerable to misinformation manipulation propaganda critics say Facebook needs to take more responsibility now that it's so big there is a kind of a denial of just how sweeping that role is and the real harms that the platform can have on vulnerable communities communities of color without adequate guardrail someplace that's the need to give to a former justice department official she now heads up the leadership conference on civil and human rights many of her concerns will be front and center today Facebook has been accused of enabling discrimination through its ad tools the US department of housing and urban development is sued Facebook over this issue the federal agency says Facebook let advertisers show or hide housing ads from users based on their race or where they live Nicole Turner Lee is a fellow at the Brookings Institution center for technology innovation in the case of Facebook what I think we're seeing is that the tool is being used in ways I think that they did not plan for this book says it is stop letting advertisers target ads for housing jobs and credit to people based on their ethnicity or where they live and just yesterday it pledged one billion dollars for affordable housing in California but Facebook wants to go further into people's lives and soccer Berg will have to defend his plans for a new global digital currency libra leaders worry it could be used for illegal activities like money laundering or define terrorism the currency is still in the theoretical stages but it's already in jeopardy just in the past couple of weeks some crucial partners including visa MasterCard and PayPal have dropped out entirely lever sounds dead on arrival Michael tractor is an analyst with Wedbush securities I don't think Facebook could pull it off without the support of all of the different banking and credit your credit card processors payment processors I just don't think that they have the wherewithal to actually do it themselves beyond the headline topics members of the house financial services committee will get to ask soccer Berg about everything else on their minds to what is the company doing to stop election interference is a bias against conservative says some politicians claim what is that politicians lie in ads there may even be questions about whether Facebook should be broken up as it was with Warren is calling for a scenario soccer Berg round the rejects Facebook on the defensive and lawmakers eager to pile on there could be

Mark Zuckerberg Facebook CEO One Billion Dollars
Fed Chair Powell Signals Rate Cut as Economic Risks Loom

Marketplace with Kai Ryssdal

03:27 min | 3 years ago

Fed Chair Powell Signals Rate Cut as Economic Risks Loom

"Two data points from the U._S.. Central Bank today both sending strong and consistent messages about monetary policy. I we got the minutes from the Federal Reserve's meeting back in June and the second chair Jerome Powell himself testified this morning before the House Financial Services Committee. He does this twice a year. He'll speak to the Senate tomorrow. Gina smiling from the New York Times is with us in studio to talk about what we're hearing from the Fed. Thanks for joining us. Yeah absolutely thanks for having me so for those of us who aren't avid fed watchers. Were the highlights today in Chair Pals testimony the big headline that people are going to take away from this is that the Fed seems to be setting up for a July rate cut which is a big deal because they haven't cut rates since the depths of the financial crisis so it's been about a decade and so that's the big one the other one. I think that's important is the Fed is really highlighting that they're worried about. Slow price increases right now just because that increases the risk that they don't hit their inflation goal increasing the risk of deflation in the next crisis. Did you see any difference between what chair Powell was saying on the hill today versus what kind of came out in the minutes no. I think the big takeaway is actually they were very much in agreement. So in the minutes Fed officials basically told us that they are watching Ching a bunch of uncertainties from the trade war took slowing global growth and as they watch those there thinking that it might be appropriate to cut rates in the near term and then chair POW went up on the hill and basically said those uncertainties they are still here. They are still with with us. Is there looming they haven't dissipated and I think a lot of folks are saying that means July ago so let's talk about expectations for a minute. The markets are already pricing in that rate cut that you're talking about. President trump is effectively demanding in one how much wiggle room does Powell really have here in deciding on a rate cut. Yes so I think probably less after today simply because market pricing is pretty cemented at this point you know they really chose not out to walk back those expectations during both these minutes which are edited after the fact and and sort of you know in anticipation of markets reading and also in <hes> Cheer Powell's remarks if he had wanted to to pull that back he would have done it and he did on Powell also made clear in his testimony today that he wants to do whatever he can to keep this record economic expansion going and one of the reasons he mentioned is because that expansion still has not reached everyone a lot of folks aren't fuelling this quote unquote good economy and the big point there is wage growth. It just hasn't taken off the way you would expect if companies were really fighting with each other for workers and so I think what the Fed is looking at. Is You know. Can we continue running this pretty tight labor market with very low on employment without stoking higher wages and the answer that they're coming up with as ask themselves that question is probably yes and probably that's going to help lift people who haven't really benefited from this very strong economy so just. Just very quickly for our own economic intelligence. What does a rate cut do for that situation right so what it does is just sustain the economic expansion longer so that people can keep hiring companies can keep hiring and everyday workers who might have been on the sidelines can jump into jobs which gets to what our colleagues Bene- sure is going to get to in a second on labor force participation? Gina Smile is from the New York Times. Thank you so much.

Jerome Powell Federal Reserve Gina Smile New York Times Chair Pals House Financial Services Commi Bene Senate President Trump POW Ching Donald Trump
Larry Kudlow, Powell And Chairman discussed on The Joe Piscopo Morning

The Joe Piscopo Morning

00:29 sec | 3 years ago

Larry Kudlow, Powell And Chairman discussed on The Joe Piscopo Morning

"Wall Street will be watching closely when the federal reserve chief Jerome pal pays visit to Capitol Hill later this morning a day after White House economic adviser Larry Kudlow said the Powell's job is safe for now the fed chairman is expected to tread lightly during his semi annual testimony before the house financial services committee many experts expect bound to leave open the possibility of future rate cuts despite a jobs report last week that seem to lessen the urgency of doing that responded Wally

Larry Kudlow Powell Chairman Jerome Pal White House Economic Adviser FED Wally
"house financial services" Discussed on AP News

AP News

01:53 min | 3 years ago

"house financial services" Discussed on AP News

"Radio news. I tip acquire plan. White House meeting on infrastructure ended just after it started as President Trump after reportedly Tele congressional democratic leaders. He would not be working with them as long as various investigations of his administration continues. Saga megani was more lasted all of three minutes to watch. What happened in the White House would make your jaw drop? It was very very, very strange. Sources say President Trump walked in told Chuck Schumer and Nancy Pelosi, there would be no to go sheeting while Democrats investigate him and then walked into the rose garden where reporters who did urgently summoned minutes earlier waited let them play their games. He's furious over Pelosi saying hours earlier, he didn't gauged in Russia probe. Cover up. The Democrats though, say it was all staged an excuse not to talk about infrastructure. He had to run away saga megani at the White House. Federal judge in New York clears the way for subpoenas to be served on Deutsche Bank and capital. One. By the House Financial Services and intelligence committees, the judge turning down a request by the president and his company. The stay those subpoenas committees wanna see his financial dealings with the two banks over a number of years. Treasury Secretary Steven Mnuchin tells the House Financial Services committee, he has no idea who wrote a confidential Internal Revenue Service memo that says the tax returns must be given to congress, unless the president asserts executive privilege, I became aware of that memo when it was we've got an inquiry from the Washington Post, and it was just recently published. I'm not sure who the author of that was, but I've seen it in the Washington Post Mnuchin adds, it was a draft memo, and that he believes he is following the law by refusing to turn over six years. The President Trump's tax returns crested by another house committee. This is.

President Trump White House president Nancy Pelosi Chuck Schumer House Financial Services House Financial Services commi Washington Post Steven Mnuchin Deutsche Bank New York Russia congress executive three minutes six years
"house financial services" Discussed on AP News

AP News

01:54 min | 3 years ago

"house financial services" Discussed on AP News

"White House, would make your jaw drop very, very, very strange. Sources say President Trump walked in told Chuck Schumer and ANSI Pelosi, there would be no to go sheeting while Democrats investigate him and then walked into the rose garden where reporters who did urgently summoned minutes earlier waited let them play their games. He's furious over Pelosi saying hours earlier, he didn't gauged in Russia probe. Cover up. The Democrats though, say it was all staged an excuse not to talk about infrastructure. He had to run away saga megani at the white. White house. Federal judge in New York clears the way for subpoenas to be served on Deutsche Bank and Capital, One by the House Financial Services and intelligence committees, the judge turning down a request by the president and his company. The stay those subpoenas committees wanna see his financial dealings with the two banks over a number of years. Treasury Secretary Steven Mnuchin tells the House Financial Services committee, he has no idea who wrote a confidential Internal Revenue Service memo that says the tax returns must be given to congress, unless the president asserts executive privilege became aware of that memo when it was we've got an inquiry from the Washington Post, and it was just recently published. I'm not sure who the author of that was, but I've seen it in the Washington Post Mnuchin adds, it was a draft memo, and that he believes he is following the law by refusing to turn over six years. The President Trump's tax returns crested by another house committee. This is a P radio news. Heavy thunderstorms produced dozens of tornadoes earlier this week and touched off flooding as rivers and streams and five states including Oklahoma continued to rise, water levels. Keep rising there Yuri, young airy Whitlow and her family are among those leaving Webbers falls, Oklahoma..

White House president Chuck Schumer Pelosi Trump House Financial Services commi House Financial Services Washington Post Oklahoma Steven Mnuchin Deutsche Bank and Capital Whitlow Webbers falls New York Yuri Russia congress executive
"house financial services" Discussed on All In with Chris Hayes

All In with Chris Hayes

01:53 min | 3 years ago

"house financial services" Discussed on All In with Chris Hayes

"This comes just two days after a different judge in a different court ruled Trump's accounting firm, must also released Trump's records swatting down the very same argument it has been less than a day since we learned that the IRS lawyers had come to the conclusion themselves that indeed, the treasury must turn over the president's tax returns. Treasury Secretary Steve Mnuchin appeared before the House Financial Services committee today, where he was asked pointblank if Americans have the right to see the president's taxes. The youth think the American people have a right to know what's in no sacks before tax food that no, I don't presidents or not required to and the American public knew that he didn't release them before they voted for him. Just four months into her. First term, California congresswoman Kenny porter has already established herself as one of the toughest grill masters in the house. She's a member of the House Financial Services committee which one it's a peanut for Trump's Bank records today, and she also questioned Treasury Secretary Steve Mnuchin in a committee hearing this morning congresswoman, it's good to have you. Thank you. So we're doing a public service here so that people could distinguish the two freshman democratic katie's from California, who are who are in this, this class, you, you and your colleague, Katie hill. So let me start with the with the court victory today. This seems like a big deal. It is your committee, this subpoena this, it's the second federal judge in just a few days to say you gotta do this. What's your reaction to it? I think this is definitely the right decision and. I think the fact that Bovis court and the court from earlier in the week really had no problems. These are very well reason decisions the law, and this is very clear. And I think what President Trump is gonna find is no matter how many times he makes these specious arguments. The courts are going to do with the required to do, which is follow the law and follow the precedent. I debate we're going to see the exact same kind of decision. When the house goes to enforce the requests for Trump's tax returns. What do you say?.

President Trump Katie hill Steve Mnuchin House Financial Services president treasury California IRS Kenny porter four months two days
"house financial services" Discussed on AP News

AP News

01:52 min | 3 years ago

"house financial services" Discussed on AP News

"White House, would make your jaw drop very, very, very strange. Sources say President Trump walked in told Chuck Schumer and ANSI Pelosi, there would be no to go sheeting while Democrats investigate him and then walked into the rose garden where reporters who'd been urgently summoned minutes earlier waited let them play their games. He's furious over Pelosi saying hours earlier eat engaged in Russia probe. Cover up. The Democrats though, say it was all staged an excuse not to talk about infrastructure. He had to run away saga megani at the white. White house. Federal judge in New York clears the way for subpoenas to be served on Deutsche Bank and Capital, One by the House Financial Services and intelligence committees, the judge turning down a request by the president and his company. The stay those subpoenas committees wanna see his financial dealings with the two banks over a number of years. Treasury Secretary Steven Mnuchin tells the House Financial Services committee, he has no idea who wrote a confidential Internal Revenue Service memo that says the tax returns must be given to congress, unless the president asserts executive privilege, I became aware that memo and it was we got an inquiry from the Washington Post, and it was just recently published. I'm not sure who the author of that was, but I've seen it in the Washington Post Mnuchin adds, it was a draft memo, and that he believes he is following the law by refusing to turn over six years. The President Trump's tax returns crested by another house committee. This is a P radio news. Heavy thunderstorms produced dozens of tornadoes earlier this week and touched off flooding as rivers and streams and five states including Oklahoma continued to rise, water levels. Keep rising there Yuri, young airy Whitlow and her family are among those leaving Webbers falls,.

White House president Pelosi Trump House Financial Services commi House Financial Services Washington Post Chuck Schumer Steven Mnuchin Deutsche Bank and Capital Oklahoma Webbers falls Whitlow Yuri Russia New York congress executive
"house financial services" Discussed on NewsRadio KFBK

NewsRadio KFBK

02:30 min | 3 years ago

"house financial services" Discussed on NewsRadio KFBK

"Withdrawing its endorsement of Google's human rights campaign says is withholding its endorsement until Google removes a so called conversion therapy app from its Android phones. The group says in a statement has been urging Google to drop the because conversion therapy is life threatening to LGBTQ youth, and clearly violates Google's own standards the app developed by living hope ministries has already been removed from app stores run by apple Amazon and Microsoft, a house committee looking into getting cash out of the marijuana industry in into Bank accounts has failed to bring the matter to a vote yesterday, the safe act wouldn't prohibit or penalize institutions from providing financial services to a cannabis related business or service provider the act would allow banks to follow the state laws as marijuana remains illegal at the federal level, Massachusetts Democrat Jim McGovern says he expects a vote damp and sometime in the next few weeks, according to banking industry analysts the White House rather the house is open to considering and possibly even passing a Bill like this the future path of of a Bill in the Senate is unclear. Time now is six twenty five at News Radio KK eating breakfast together as a family has a positive impact on adolescent and teen body image. According to a new study, and it's not just about what you eat for breakfast. Whatever the menu. It's the connection and the relationship we definitely see body dissatisfaction peak in adolescence. So it's it's an important issue for teens. Ginny Ramsauer winter with the university of Missouri and the director of the center for body image research and policy when you have a stronger connection with their family. They're more likely to have a stronger connection with themselves which can show up in a more positive body image. And she says we know that body image related to a number of negative and positive benefits. Those include things like physical mental sexual relationship house. So this is a really important issue. He does say pick a time breakfast, lunch or dinner. It all matters. It all counts. Dina kodiak. Newsradio became time. Now is six twenty six at NewsRadio KFC PK. I'm Christina Madonna along with great Fishman. Let's get a check of our traffic. Trouble. Now with rhino. We do have that one accident across the river from the pocket south river road a bagel Slough road. That's still don't have a lot of details on this one an ambulance was assigned. Now, I understand the vehicle. He's unoccupied CHP unit is assigned to go there. No indication they're actually on the way there yet. Traffic and weather together every ten minutes on KFI as morning news. Plus wants to do with tons of material leftover from the campfire destruction that story coming up..

Google Jim McGovern White House marijuana Fishman KFI Newsradio Ginny Ramsauer Massachusetts Dina kodiak apple cannabis Senate Microsoft university of Missouri Christina Madonna
"house financial services" Discussed on KCRW

KCRW

01:44 min | 3 years ago

"house financial services" Discussed on KCRW

"The footsie in London is down less than ten percent s&p. Nasdaq futures are up about a tenth of a percent. The Dow futures down tenths of a percent, sixteen points ten year. Treasury yield is a two point six two percent. Back in two thousand sixteen Wells Fargo was fined for opening millions of accounts without consumers permission and the fallout from that scandal is not over CEO. Tim Sloan testified before the House Financial Services committee yesterday. Marketplace's Nancy Marshall genzer is in Washington. Nancy, what was the reaction from regulators? It wasn't good. The office of the comptroller of the currency or OCC issued a statement saying wells still didn't have good corporate governance. The OCC also said it was quote disappointed in how the Bank has been trying to clean up its behavior. Wells Fargo is also under pressure from the Federal Reserve, which has limited the bank's growth. And and just remind us again, how the Bank got into all this trouble in the first place. Well, there were those millions of accounts wells opened without customers permission wells charged other customers for auto insurance, they didn't need. Well, CEO Sloan told the committee yesterday that wells is a better Bank than it was three years ago. Still the chair of the House Financial Services committee democrat, Maxine Waters said yesterday, maybe the banks should be downsized. And the Wall Street Journal is reporting the OCC is thinking about forcing out more, top Wells Fargo executives and might also charge wells and. Extra fee because of all the time it spending dealing with the Bank, right? Marketplace's Nancy Marshall genzer. Thank you. You're welcome. Marketplace morning report is.

Wells Fargo wells Bank OCC Nancy Marshall genzer Tim Sloan Nancy Marshall House Financial Services CEO Nancy Maxine Waters Wall Street Journal London Federal Reserve comptroller of the currency Washington six two percent ten percent three years
"house financial services" Discussed on The Last Word with Lawrence O'Donnell

The Last Word with Lawrence O'Donnell

03:22 min | 3 years ago

"house financial services" Discussed on The Last Word with Lawrence O'Donnell

"No experience in oversight of the financial services industry and has dramatically reduced the number of consumer complaints that the CF PB investigates director Kranj ran into more than she could handle last week when it was freshman congresswoman, Katie Porter's, turn in a House Financial Services committee hearing. How director could you please explain to this committee the difference between an interest rate in APR? So the APR is the is the extrapolation if it were a one year term in terms of the loan. So that's the calculation that is laid out in in in particular, fight take the stated interest rate and do the math to deal with the fact that its annualized the would be correct. Yes. Okay. The annual percentage rate, and I'll be happy to send you a copy of the text book that I wrote explains that the APR is derived from the finance charge the amount financed and the payment schedule, it's a mathematical transformation of those three numbers into the cost of credit expressed. Yes at a yearly rate over stipulate simplification. I understand that you know. Well, my concern is whether you know, well, ma'am, because you are the one responsible for making sure that American consumers. No, well, when they take all the moms. Let's do a example. I'm a single mom by the side of the road. My car is broken down. I need money right now. I pick up my cell phone. I go to speak cash. An online lender. I'm in California. I have to get to work. I have to have the cash to fix my car to get to work. I can barely read the little disclosure on my phone the cost of speedy cash is you may want to write this down ten dollars per one hundred dollars borrowed I need two hundred dollars to fix my car. The origination fee is twenty dollars the term of the loan is two weeks typical for when I get paid. What is the APR? And if you'd like calculator, we have one for you. I understand what you're getting at the end of the day. The issue is certainly when you actually are able to repay that loan, and whether or not you take out an additional loan going through this, and you're gonna scooter short-term small dollars. Time this culture, I'm asking you what the PR is. And Katie porter reclaimer time repeatedly because she could not get an answer from director or on that simple question of what is the annual percentage rate of the predatory payday loan. The Carson Puerta just described. And so Carson porter ended that long of questioning this way. Turbot claiming my time the other issues that are claiming time I take us to know that you can do the calculation, but I'm particularly concerned about this given that you could not even correctly defined the APR. Carson porter. Then tweeted.

Katie Porter director Carson porter Carson Puerta Kranj House Financial Services California one hundred dollars two hundred dollars twenty dollars ten dollars two weeks one year
"house financial services" Discussed on Pantsuit Politics

Pantsuit Politics

02:03 min | 3 years ago

"house financial services" Discussed on Pantsuit Politics

"And probably has a lot of people shaking in their boots. Because the details of that are long and thorny Maxine Waters is the Representative from California's forty third district. She has been in congress since nineteen ninety one and she's often like did with like seventy percent of the vote. So there is not as much reason to be a moderate. But she is the Mosignor of all the African American women and congress, she's another long-term congresswoman, but very different political makeup of her district than somebody like Richard Neal or Frank Pallone, such I mean, she doesn't have a lot of motivation to be moderate. But I think that she is a much stronger bipartisan player than people. Give her credit for I read a really interesting article about her several months ago that was like she has a stronger history of working across the album, people than her sort of media portrayal would lead you to believe another interesting thing about the House Financial Services committee is that Alexandria, Cossio Cortez has been named as a member. So I mean, I'm all in on these hearings. I'll be watching. I'm just going to be based on those two being their alone. I'll be watching, and you know, I'm I'm definitely more of the progressive wing of the Democratic Party when it comes to consumer protections and the income inequality. So I'm excited about these two. I'm excited about Maxine Waters bean at the head of the House Financial Services committee. I can't wait sushi does in to be inclusive here accustomed Cortes is not the only kind of freshman star on this committee, Rasheed. It's Lyod is on it. I on impressively this committee is stacked up to do a lot. It also is stacked up to do some things that will otherwise personally effect. The Trump administration. So also included in Representative water's letter was this paragraph. I'm committed to strong oversight and following the Trump money trail starting with Deutsche Bank and suspicious activities reports filed with the financial crimes enforcement network or FinCEN today, I have joined with my.

House Financial Services commi Maxine Waters congress Representative financial crimes Cossio Cortez Representative water Deutsche Bank Democratic Party Frank Pallone California Richard Neal Cortes Alexandria Rasheed seventy percent
"house financial services" Discussed on 860AM The Answer

860AM The Answer

02:29 min | 3 years ago

"house financial services" Discussed on 860AM The Answer

"Did you see the the Democrats didn't even didn't even show up at the White House yesterday president inviting them to lunch, let's talk. Let's let's let's have negotiations. They don't even want to negotiate. They're worried about these stunts look Pelosi asking President Trump to deliver his state of the union in writing. And putting Alexandria a Cossio Cortez on the House Financial Services committee. Those are the shenanigans they're engaged in. They don't care about the shutdown. They think the shutdown is a winning issue for them. And it's not, and I believe with all of my heart. The President Trump is not gonna fold on this. He won't care. There's Schumer up there smirking from the podium in the well of the Senate, you're not gonna win this Donald Trump. You're not going to beat the American people. He's not fighting the American people, Chuck, you are you're at you. And you're out of touch democrat colleagues are. A socialist of the House Financial Services committee. This is as crazy as crazy gets. And you know, the caller from Ohio makes a good point the people in that bubble in Washington DC, they're making the decision for hardworking men and women all over the country. They don't care. They just don't care. And they're to want to all they wanna do is condemn the half of the country. That doesn't see the world the way they do. Megan McCain was was in a debate with somebody yesterday. I think it was sunny. I don't have the name of the person who said it. But I think her name is sunny hashtag or hostile or some of them know who these people are. But it, but it's always informative informative to hear a show with millions of viewers were they were arguing about racism in America hears cut, number two from ABC's the view and the liberal on. The panel was was was talking about racism in America. And Megan McCain was very direct in saying really think nearly half the country is racist. Here's cut to from ABC and gravy. Forty two percent of Americans are racist. I just said, I don't know. That's why. No question. Account centrating on campus.

Donald Trump president Megan McCain House Financial Services commi America ABC White House Pelosi Cossio Cortez Schumer Senate Ohio Alexandria Washington Chuck Forty two percent
"house financial services" Discussed on WIBC 93.1FM

WIBC 93.1FM

01:43 min | 3 years ago

"house financial services" Discussed on WIBC 93.1FM

"Right now. The Dow is up eighty eight points at twenty four thousand one fifty three the NASDAQ is up twenty seven points at seven thousand fifty one and the s&p five hundred is up seven points at twenty six seventeen. I'm John Herrick on the level on the go and on Twitter at ninety three WIBC and WIBC dot com. It's nine thirty six back to the checks. You're back with the chicks. Terrible news. And I'm not even saying that and like the Robb way. He lies all the time. Legitimately terrible news. AFC has just landed a role on the House Financial Services committee under the leadership. God, I can't of Maxine Waters. This makes a lot of sense since she she couldn't even afford are on a part. This makes complete sense America. Good job. Good job. Everybody job. Give ourselves a hand. That's. AFC? Of course is very excited has created about. This saying financial services is one of just four exclusive committees in the house it overseas big banks lending and the entire financial sector like. Amarah? He goes on to say, I'm very grateful for the opportunity to sit on this committee as a freshman and look forward to working under the leadership of Maxine Waters. Personally. I'm looking forward to digging into the student loan crisis examining for profit prisons and ice detention and exploring the development of public and postal banking to start smiley face smiley, far.

Maxine Waters AFC John Herrick House Financial Services Twitter Robb America