gemma tetlow, with food for thought at the treasury committee. that was tuesday in parliament.e at the same time tomorrow for wednesday in parliament, including highlights from prime minister's questions. until then, from me, david cornock, bye for now. hello there. the first day of september was dry for most of us, but the second day of the month looks a good deal wetter. we will see some outbreaks of pretty heavy rain moving eastward through the day and with that, it will be fairly windy. now, if we look at the recent satellite picture, we can see this area of cloud heading in our direction. this is a frontal system which is going to bring some outbreaks of rain. it's all tied in with an area of low pressure drifting to the north—west the british isles. you can see quite a few white lines, quite a few isobars squashing together on the chart, that it will be fairly windy, and we will see a break of rain pushing from the west toward the east. now, the rain will be moving quite erratically eastwards. it will be quite sporadic, quite on and off in nature, but some of it will be p

but if he is looking for cash raising ideas, the treasury committee heard from experts who think he should. i think it would be beneficial to talk about broadening the tax base because of we do not and simply rely on increases and breaks, that will increase the distortion in the already existing system. but, doing that in the past is proved quite difficult. if you let that attempt in 2012 to go on a broader range of products, that will create serious difficulties. but... you are not suggesting that this tax will assuming, that's a lot of pasties. you cannot tell a big story about taxing that but not something else. a minister has defended a trial scheme to pay workers on low incomes in parts of north west england where there are high rates of coronavirus 13 pounds a day if they have to self—isolate. those who claim universal credit or working tax credit and cannot work from home can claim the money in addition to their benefits. could the minister tell us what was the evidence base for the decision that £13 a day would be sufficient to persuade low paid workers to forgo their earnings and

but if he is looking for cash—raising ideas, the treasury committee heard from experts who think he shouldneficial to try and think about broadening the tax base. because if we do not and simply rely on increases in rates, then that will increase the distortions that already exist in the system. but doing that in the past has proved quite difficult. if you look back at attempt in 2012 to charge vat on a slightly broader range of products, including pasties, that created serious difficulties. but... you are not suggesting that a pasty tax will get us out of this? that's a hell of a lot of pasties! precisely. i think that example shows the difficulty of doing something small. you cannot tell a narrative of why it is important to tax pasties but not something else. a minister has defended a trial scheme to pay workers on low incomes in parts of north west england where there are high rates of coronavirus £13 a day if they have to self—isolate. those who claim universal credit or working tax credit and cannot work from home can claim the money in addition to their benefits. could the minister

and we came to conference and sat down together, the members of the defense committee, the members of the treasury postal committee and labor-health committees, we came together individually and we worked out agreements between the two bodies. that is the way it ought to work. it's not working that way. in a world of alternatives, this is the best we have. so we need to take it. and keep the government funded. i look forward to working with members of the appropriations committee on both sides of the aisle to affect an omnibus that we can all be proud of. we won't all agree with all of it, but at least we can say, this is the work product of the people's house and the united states senate. and pass it. and feel we have done our job for the people. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the gentlelady from texas. ms. granger: i yield to mr. davis of illinois for two minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. davis: thank you representative granger. the last thing the united states of america needs right now in

mps on the treasury select committee say it is too urgent.tures at banks. these forgeries could have cost my constituents and people across the country their homes. it is really important for faith in our institutions that the national crime agency gets on and investigate these very serious allegations. well, the nca gave us a statement saying, they are still assessing the material, adding that together with partners in the nca and the serious fraud 0ffice in the nca and the serious fraud office they are making a fair assessment to determine whether there are grounds for a criminal or regulatory investigation, but the campaigners say that so far not one of the people who sent in cases where they believe there has been a forgery has been contacted by the nca. thank you, and dave. the headlines on bbc news... 0n the eve of another set of crunch brexit trade talks, the government warns it will re—write a deal 0n the eve of another set of crunch brexit trade talks, the government warns it will re—write a deal already agreed with the eu. police in

mel stride, conservative mp and chair of the treasury committee, joins me now.ion be assessed ‘s which businesses with a little extra help could come out of the other side of covid as sustainable, and given that the government could need to borrow up to 390 billion in the coronavirus financial year, the assessment of the office for budget responsibility, can it afford more debt? in terms of can it afford more debt, it is certainly racking up a lot of it but at the moment interest rates are very low and governments are able to service that debt at an attractive rate. it needs to make sure it can continue to do that but the signs are that it will be able to do so, for some time. to come to your point about furlough, what the committee is suggesting is not wholesale extension of existing arrangements which which would be very expensive but a targeted approach recognising that there are some companies and businesses that have done quite well out of the virus, these conditions have suited them, thinking of online retailfor example. there are other areas where, as we

without an extension to the furlough or are targeted and specific support which the treasury committeereasing up from 4% at the moment. but it really depends on how the pandemic plays out and one further impacts there are businesses. we know that a number of organisations are already facing challenges dealing with localised lockdowns. there is a big question about how high redundancies might rise, particularly without any further support. tej parikh, thank you very much for your thoughts on that story. a signing ceremony takes place at the white house today at which israel will agree to normalise relations with the uae and bahrain. the move, brokered by president trump, marks a historic shift in relations between israel and the two gulf arab countries. but it comes amid a crisis at home for the israeli leader, as our middle east correspondent tom bateman reports from jerusalem. this deal is delivering its rewards under the desert sun. and ad's being filmed near dubai for israeli pyjamas. until now, it would have been impossible. in the uae, that boycotted formal ties with israel. it's

i said before that i'm pleased after calls from the members of the committee of the treasury and small business administration made adjustments to the paycheck protection program to ensure they communicate the development of institutions and minority depository institutions are able to provide loans to the communities they serve, and i appreciate that the federal reserve has expanded several programs, but i'm frustrated with the trump administration's implementation independent mac relief program. based on the concerns i continue to hear. specifically, i'm very concerned much of the 500 billion congress allocated to the treasury most of which was to support the data funding to help businesses, state and local governments has gone unused. here we are six months after the passage of the act and a 0.2% of the lending program funds. they have efforts to pass the relief package or address the nature public health and economic crisis we face. your work to address this crisis doesn't stop when the stock market covers its losses. your mandate is to help hard working individuals and families ha

program, a $600 billion program with a backstop from the troo z treasury he'll be speaking tomorrow before the house financial services committee with treasury secretary steve mnuchin and this is required testimony about the cares act where they have to quarterly appear before congress and discuss progress with the lending programs. >> the terminology, highly uncertain, is that different from what the clair has used in the past. >> this is the same language he's been using and a theme of his from the very beginning while the market has gone up and up and more certain about outcomes, fed chair jerome powell and a lot of members stuck to their take on the outlook which is that it is highly uncertain and concerned about a second wave of the virus and how much underlying damage is done to the economy i don't know that it is a specific leaning against the market but maybe they try to provide a bit of a reality check for how the market has sort of priced in different outcomes. >> job voting to combat the nonexistent bubble they say they're not creating steve liesman, thank you and in the testimony he seems to say, we need fiscal. the

treasury secretary. the house financial services committee as soon as it starts. let's look at where european markets are. yesterday was a big drop, today we recoup a little bit of that. up by 4/10 of 1% on the stoxx 600. euro-dollar trading with the $1.17 handle. as you can see, also trading lower. we saw a push higher in the session when the governor of the bank of england toned down the speeches we have seen as of late when it comes to negative rates. we will see whether ultimately he has to deliver on negative rates. apparently the mood music has improved on that for today. politics when it comes to the btp markets, today we have seen a significant pushback for the prime minister against mr. salvini in local elections. the market has taken that positively. alix: just to pipit off what i said earlier. the eu leaders summit is postponed as the eu councile president was quarantined. you had a security guard test positive. that leaders summit will be postponed. movement in the market, the dollar jumping higher. charlie evans says the fed could raise rates before i

committee. first, i want to welcome steven t. mnuchin, secretary of the treasury. he has served in his current position since 2017. mr. mnuchin has testified before the committee on previous occasions and i believe he does not need any further introduction. i also want to welcome our other distinguished witness, jerome powell, chair of the federal reserve system. he has served on the board of governors since 2012 and chair since 2017. chair powell has testified before the committee and i believe he also does not need any further introduction. without objection, your written statements will be made part of the record. each of you will have five minutes to summarize your testimony. when you have one minute remaining, a yellow light will appear. at that time, i would ask you to wrap up your testimony so we could be respectful of the committee members'time. secretary mnuchin you are recognized for five minutes to present your oral testimony. >> thank you. chairman waters, ranking member mchenry and members of the committee, i'm pleased to join you today to update you on

that app collects is national security issue, first flagged by an agency under the treasury department. the committeen foreign investment in the u.s. has been looking at tik-tok since last november, but in this july, after the president demanded it be sold to a u.s. company or be banned, this joint venture has been scrutinized between tik-tok and oracle to see if it holds up to the president's original order. an attorney has spent years successfully representing both u.s. and foreign companies before cifius for his firm sheerman and sterling. give it to me straight, john, do you think there's any chance, is this just buying time till sunday night? do you think there's any chance oracle can turn this thing around? >> there's always a chance with cifius. in my experience the staff will make themselves available at nights, on the weekends, to try and listen to the parties. i'm sure the parties are working very hard to try and address the concerns that cifius and the other federal government agencies have identified. what i would say it's never over until it's over with cifius and they have time to get i

third, the treasury must improve oversight and accountability to ensure taxpayers' dollars or not squandered. today, this committee is releasing a staff report raising serious concerns about potential thee, fraud, and abuse in paycheck protection program based on and analysis of the treasury data. the subcommittee identified more oans to companies that received multiple ppp loans, in violation of the program's terms. thousands of other loans were awarded to companies that were ineligible for the program or had red flags of potential fraud. secretary mnuchin, given the need to get relief money out -- ity, was inevitable was inevitable that the treasury "ran into a lot of issues." that is a false economy. taxpayers should not have to choose between quickly getting aid to those who needed and wasting federal funds. -- need it and wasting several funds. there are several steps that could have been taken to improve oversight and reduce fraud. our report makes recommendations for steps that the treasury can still take to safeguard taxpayer money, including improving the plan for ppp. as i have said before, the notose of

that is the heart of the senate banking committee with treasury secretary steve mnuchin.chin saying that pass what can be passed right now making the point he is willing to sit down with democrats and negotiate if they were willing to actually negotiate. then senator sherrod brown said this. >> you simply didn't step up for these workers. $600 a week, 600,000 people in my state lost their unemployment insurance and you essentially, you and senator mcconnell an president of the united states saying 600,000 ohioans are on their own. >> that is grows misstatement and exaggeration and again if the democrats are willing to sit down i'm willing to sit down anytime for bipartisan legislation in the senate. let's pass something quickly. reporter: mnuchin says he has spoken to house speaker nancy pelosi 15 to 20 times on continuing resolution, but agreed to talk at some point the stimulus package. house speaker nancy pelosi says she expects to sit down soon. >> we have not reduced, in fact some of the needs in terms of the coronavirus are increasing. we need more money related to

treasury secretary. the house financial services committee as soon as it starts.here european markets are. yesterday was a big drop, today we recoup a little bit of that. up by 4/10 of 1% on the stoxx 600. euro-dollar trading with the $1.17 handle. as you can see, also trading lower.

you know i'm a small business owner i want to thank both of you for coming before the committee today. the treasury department and the federal reserve has worked in incredible speed to get resources in the hands of hard working american businesses. i applaud you both for your leadership and main street america also thanks you. some local governments in my direct are sitting on the money they receive from the coronavirus relief fund because there is questions around what counts as an expense one would like to buy food for a local food pantry because of the food insecurity of the people in their neighborhood but they are not sure if this is insured. is a use for the coronavirus relief funds deemed a qualified expense so we can get the money spent. >> we will look into that question and get back to you we tried to give as much flexibility as we can and as part of the additional authorization to move forward we're inclined to use additional money for what has gone out to state and local governments. >> chairman powell, i raised this issue and i wanted to get your perspective as well to make sure that e

. >> jay powell and treasury secretary manu schnuchin will ar before the committee focused on the c.a.r.e.s. act passed. it is expected powell will say many economic pointers have improved by remain well below their prepandemic levels and the path ahead continues to remain uncertain. >> president trump will likely nominate a replacement to the supreme court by saturday. justice ruth bader ginsburg will lie in repossess on saturday >>> quibi exploring strategic options including sale looking at a americaer with spak the company founded by jeffery katsenburg people that are not commuting are looking for the short form >> i read that quibi was looking to sell for $2 billion my first question was, what is quibi. it is this short-term video thing. i think you are right. i think watching people dance for 10 seconds on tiktok took the attention away >>> back to the markets. it has been a september to, well, forget wild swings. rising volatility and frayed nerves all around. that's what makes the market on each side of the tug o war on each side. the bears will point to rising china tensions you've

federal reserve chairman jerome powell and the treasury secretary stephen minutiae have both faced questions at the opening of the financial services committees 3 day hearing the focus is on what is valuation the government's 2 trillion dollar stimulus relief package and on assessing the shape of a future recovering let's take a listen to what both men had to say about how they feel the u.s. economy is fairing. america is in the midst of the fastest economic recovery from any crisis in the u.s. your august jobs report showed the economy's gained back 10600000 jobs since april nearly 50 percent of all jobs lost to the america the unemployment rate decrease to 8.4 percent a notable achievement considering many people thought it could get as high as 25 percent both employment and overall economic activity however remained well below their creep endemic levels in the path ahead continues to be highly uncertain our business correspondent and squad to has been following this hearing for us he joins us now from new york. that was quite a contrast in tone we heard there give us your take on what we've been hearing from new holiday. you know actually

treasury secretary speaking to the u.s. services committee about the aid package that has happened for the airline sectors in the question is do we get another one. joel peterson, former chairman of jetblue joins us now and he is also the founding partner of an investment management firm. he is also the author of entrepreneurial leadership, he is a busy man. thank you for your time, we appreciate this. the cares act money expires at the end of the month. if it is not replaced, but will be the impact? a lot ofloughing employees, that is the only thing that the employees can do. you are out of cash and business and you will have to conserve cash, but revenues have come up, but there not a great level. but they will have to be layout. the cash burn is seven to 9 million on a daily basis. clearly everything is on the table in terms of liquidity. the big surprise over the last week to 10 days is this refocusing on loyalty schemes, and i think it is an undiscovered gem. i think it does seem to be a potential asset that they can use to improve liqui

treasury secretary steve mnuchin on his way to that senate banking committee says that he hears or hopes that it will pass the senate promptly. inside of the hearing mnuchin testified that he spoke 15 oar 20 times to the house speaker about the cr. they also agreed to talk at some point about the next relief package. the house speaker responded like this. listen. >> we came down a trillion dollars in our $3.4 trillion bill. then we offered to meet the republicans halfway. we still have not heard back about that. but you know what? since then the needs have not decreased. reporter: senior democratic aide tells me the house speaker directed her committee chairman to come up with a scaled down relief package, $2.4 trillion to restart talks with the administration. now that aide says the house could vote on that scaled backpackage next week, if talks don't go anywhere again, a source in the democratic leadership meeting an hour ago tells me that the meeting in that meeting the package will contain help for airlines, restaurants and other priorities the democrats have that popped up since the

third, the treasury must improve oversight and accountability to ensure taxpayers' dollars or not squandered. today, this committee is releasing a staff report raising serious concerns about potential thee, fraud, and abuse in paycheck protection program based on and analysis of the treasury data. the subcommittee identified more oans to companies that received multiple ppp loans, in violation of the program's terms. thousands of other loans were awarded to companies that were ineligible for the program or had red flags of potential fraud. secretary mnuchin, given the need to get relief money out -- ity, was inevitable was inevitable that the treasury "ran into a lot of issues." that is a false economy. taxpayers should not have to choose between quickly getting aid to those who needed and wasting federal funds. -- need it and wasting several funds. there are several steps that could have been taken to improve oversight and reduce fraud. our report makes recommendations for steps that the treasury can still take to safeguard taxpayer money, including improving the plan for ppp. as i have said before, the notose of

>> treasuries secretary mnuchin testified thisll morning before the senate banking committee over the coronavirus's impact on the economy. watch that at 10:00 eastern on c-span three, on c-span.org, or the free c-span radio app. i believe we should be stronger than we now are, that we should have a stronger military force, that we should increase our strength all over the world. i don't confuse words with strength. when the president of the united states is doing something that's right, for the purpose of defending the security of this country against attacks, he can never express regret or apologize to anybody. >> 60 years ago americans watched the first ever televised presidential debate between kennedy and nixon. sunday at 9:00 eastern we will look back at the event with barbara perry with a live discussion on how the debates came to be, the issues, the candidates, and how the debates set the tone for future campaigns. nixon/kennedy presidential debate. next, south carolina senator lindsey graham talks about the confirmation process for president trump's supreme court nominee. this

. >> on tuesday, treasury secretary steven mnuchin testifies before the house oversight and reform committeen the urgent need for additional coronavirus economic relief for children, workers, and family, and the implementation of key stimulus programs approved earlier this year. -- watch live coverage of the hearing beginning at 1:00 p.m. eastern on c-span, on demand at c-span.org, or listen wherever you are on the c-span radio app. >> president trump held a news conference on the coronavirus pandemic, the economy, and his administration's efforts to support law enforcement and protect cities. responded to joe biden's speech in pittsburgh and answered questions about his upcoming trip to kenosha, wisconsin.

trade unions, treasury select committee, people across the country have been pleading with him for monthsbusinesses. those jobs and businesses are viable at it is not for him to decide the viability of businesses. ending this scheme puts it in 1000 scottishjobs businesses. ending this scheme puts it in 1000 scottish jobs at risk. his measures in the pay—as—you—go scheme recognise that many businesses have deferred payments and have mounting debt. the problem for many is no income deferred by income lost completely. will he go further and convert those loans to gra nts further and convert those loans to grants and equity to give companies a bit more certainty about their future? we welcome the hospitality and tourism fight —— vat cut, but will he assess it and consider keeping it per minute to help businesses pick up through an approved business next summer? there is nothing here whatsoeverfor those that have been excluded from existing support schemes. the freelancers, paye, women in maternity and all those who have not ip maternity and all those who have not 1p piece from this government

that is a positive programme and i see the treasury select committee is supporting that.u as if you were the real chancellor now, can you give me a number? it sounds like you are saying here is what would be a good thing. i did ask me about numbers. if you were chancellor are you saying that it would be a blank cheque? i mentioned the figure, £14 billion a month as it stands. you would just keep that going? the next stage will not cost 14 billion. how much is macro i am saying that we negotiate part—time work and negotiate to help young people. i don‘t believe that the £30 billion package ofjuly, france and germany have announced 100 billion, america starting at anything above 1 trillion as the necessary next stage. britain is lagging behind and we are missing the boat and equally at the same time we are at a crunch point. you‘ve got to make the decisions now stop being realistic you got to spend more, i‘m talking about figure is similar to france and germany and you have got to spend, to save. borrowing at the moment, when i was in government we had to pay 4% to borrow b

think we got the gist of the earlier stuff so thank you so much, mel stride, chair of the treasury select committee in state at the us capitol on friday. president trump has just arrived there — these are the live pictures. you can also hear some loud voices of protest in the background. right, believe that there. now it‘s time for a look at the weather with tomasz some of us will have to get the thick coats out for tomorrow. it is already pretty cold out there today. we will have downpours, some cracks of thunder, but the real feature will be the strength of the wind along the north sea coast tomorrow. the atlantic overall is really starting to awaken with weather systems lining up, and you can see one there and another one close to ireland. this is another weather system here. also gaps in between meaning there will be sunshine at times as well. here‘s the forecast for this evening. temperatures a measly 11 or 12 degrees. still very windy in the south—west here and you can see plenty of showers dotted around. scotland, not too bad. yes, it is quite chilly, a northerly wind there and temperatures

fired back showing that ppe supported 51 million jobs it comes ahead of the committee this afternoon the chairman and the treasuryecretary will be there in that person so the tone of the hearing already set. >> especially given all of the small businesses that wanted the loans and didn't get them. that will sir raiseure raise a f eyebrows >>> apple taking a closer look at the companies continued growth and ionphe production we look forward to that in the fall stay with us apps are used everywhere... except work. why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. to learn more, visit paycom.com >>> another record high for apple shares a day after the splint went into effect. wamsi, welcome back, good to see you again. >> good to see you, too. we have been thinking about you because you put your flag in the ground and you expre

treasury department doing its job. and, yes, our financial services committee, which has done its job, with sanctions. we are very much a part of that sanction regime with the department of treasury. so, please, to my colleagues, do not misunderstand and please don't misconstrue opposition to this particular bill, again, we have no disagreement about the atrocities. we have no disagreement about what is happening on the ground. to the uighurs. and frankly to others. by the way, if this was about others, we'd include others. but it's narrowed down to the uighurs. so, i'm hoping, i'm praying that this isn't just a political ploy to look tough on china, finally. but i hope this is really about helping people. because i know that's why i'm here. so i want to make sure, whether it's a young lady in the philippines who is in sex slavery, or whether it's a uighur in a labor camp, or whether it was my wife's family that was imprisoned by the japanese in internment camps in indonesia, or in the netherlands under the nazis, or whether it was our brothers and sisters who came here involuntarily as slaves, we have

on the other end is steve mnuchin, treasury secretary, head of committee on foreign investments, cfius approve the deal, signaled it will approve the deal. he is saying it will go through, this is not a political battle. with him is wilbur ross, the commerce secretary. this is where we are. it's a mexican standoff. i give it 60/40 gets approved. having barr and pompeo on the other side, you know that is pretty rough stuff to get through. obviously it has not been approved when everybody thought it would be approved this morning. so we'll have to keep following these developments, neil. back to you. neil: what does microsoft do? >> well, microsoft is glad it is out of it i bet. remember what microsoft wanted to do, this is fascinating something, that is the reason why oracle, the notion of oracle buying tiktok was never really going to happen. they don't have the balance sheet, they don't have the cloud capabilities. microsoft was literally buying the whole thing and have end to end, basically lock it down end to end, it would have taken the algorithm and rewrote it, changed it, secured

treasury it's a risky game though isn't it because international olympic committee rules state that a country needs water compliance to compete in the games or to even qualify for them is the u.s. putting the careers of of its operates at risk here with its approach it is you know we remember how so here in russia to the efforts being made to try and get there even if i were to look ok i would put them under a neutral fly this this is gamesmanship or too low it was too greedy it's really really not be calling all nations you know trying to be or a leader they really do better because if they start doing this next thing you have the u.k. will do it and they seem to jurgen. and i asked you idiot because everybody's got a. i now go and national at the door an organization it is basically. how do we say oh geez this is a great group of people in. they want to take over water and this is as i said this is the 1st major. coup attempt was in wallet for you so. much and there's a lot of anxious runners and hurdlers and all sort of athletes out there watching this very closely allan thanks so

today the select committee is pleased to welcome the honorable steven t. mnuchin, secretary of the treasurythank you, mr. secretary, for being here today. will you please stand so i may swear you in. please raise your right hand. do you swear or affirm that the testimony you are about to give is the truth, the whole truth and nothing but the truth, so help you god? you may be seated. please let the record show the witness answered in the affirmative. without objection, your written statement will be made part of the record. secretary mnuchin, you are now recognized for your opening statement. >> chairman clyburn, members of the subcommittee, i'm pleased to join you here today to discuss the department of treasury's response to covid-19 pandemic. for the last five months, treasury have been working hard to provide fast and direct economic assistance to american workers and their families. we remain committed to making sure that every american gets back to work as quickly as possible. the bipartisan c.a.r.e.s. act is the biggest economic relief package in american history. economic relief tot

today treasury secretary steven mnuchin and federal reserve chair jerome powell testified on ongoing coronavirus response before the house financial services committee. watch live at 1038 eastern on c-span3 come online c-span.org or listen live on the free c-span radio app. >> monday and use senate members came to the floor to pay tribute to supreme court justice ruth bader ginsburg passed away friday after a fight with pancreatic cancer. we heard from mitch mcconnell and chuck schumer about justice ginsburg's life and career and the future of the supreme court. >> mr. president. >> theel majority leader. >> our nation is morning the end of an exceptional american life. justice ruth bader ginsburg meant so much to our country. first and foremost, she was a brilliant generational legal mind who climbed past one obstacle after another to summit the very pinnacle of her profession. justice ginsburg was a fixture on our nation's highest court for more than a quarter of a century. she was not just a lawyer. no, not just a lawyer, but a leader from majority opinions to impassioned dissents. her life's work will not only continue to shape jurisprudence, bu

treasury secretary steven mnuchin testified before the house financial services committee. are likely to face questions about the cares act. we know what jay powell plans to say but it's the q&a that matters. isn't it, manus? manus: it is. all the nuances. how long and how high is the road? high battery day. never thought you would get excited about batteries. you should. anticipation has been going ahead of the event linked to the company's agm. analysts see it as a potential game changer for the carmaker. this year's united nation general assembly begins later today. the event will be held at for the first time since its inception some 75 years ago. here.te saly is we are talking tech and we always talk tech on "bloomberg daybreak: europe." stanley, we are only halfway there. there is a song behind that. journey, i think it has my name in it. we are looking at a couple of calls. jefferies talking about the tech and the fact that it could be an election shot ag, saying the -- perhaps this is a trump election strategy. he reckons there could be a de-escalation in the u.s.-c

back here, jay powell and treasury secretary stephen mnuchin testifying before the house financial services committee with chair powell saying the economy has a long way to go and will likely need further fiscal support. secretary mnuchin saying another round of stimulus should be targeted at kids and jobs. joining me now is greg valliere, agf investments chief policy strategist. the secretary said there was bipartisan support for further stimulus, so why are we not getting it? greg: i think nancy pelosi and the democrats wanted at least $2 trillion, and that was too much for the republicans. vonnie: at the same time, there should be some kind of mechanism for getting to a neutral place. what are the obstacles for the republicans coming down a little bit, democrats staying where they are? greg: it is maddening to see this. frankly, if nancy pelosi feels a deal would help donald trump, make the economy stronger, make the market happy. i'm not sure she wants to do that. i've been doing this for a long time and rarely have i seen such bitterness on capitol hill. the acrimony is extraordinary right now.

on tuesday, treasury secretary steven mnuchin testifies before the reform committee on the need for additional economic relief for children, workers and families and the implementation of key stimulus programs approved earlier this year. onch beginning at 1:00 p.m. c-span, ondemand at c-span.org or the sin they have on the c-span radio app. >> governor thomas of new york, republican nominee on his whirlwind campaign around the nation, making a plea for world peace and striking at communist elements in government. gop leader draws big audiences. the next step is portland, oregon with mrs. dewey by his side. he makes another stirring bid -- he has at least one ardent supporter. those are some of the region's finest specimens. we will know soon. in november is just around the corner. president truman continues his swing around the circuit. the chief executive get a president. he writes to the home of his own -- his old friend cactus -- aand it's a war record warm welcome on route to. he visits the alamo. the historic shrine of texas independence. in austin, a big crowd to greet the president as h

between the ways and means committee members, led by speaker pelosi, and the u.s. trade representative's office and the treasury department, stephen mnuchin. we were fortunate in convincing two significant members of the ways and means committee to join us today for this discussion, some of the factors that led to approval of the usmca. december by the house, january by the senate, by historically large margins. these members of the committee are going to share their observations. keep in mind, for those of you who don't follow these issues as closely as others ways and means , is by far and away the most important committee in the house. it is not only responsible for trade and tax and tariff policy, but also tax and social security, medicare, welfare, and related legislation. in other words, what ways and means does affects all of us every day. we are going to start with kevin brady, a republican from the eighth district of texas. he is a ranking republican member of the ways and means committee. before his service in congress, he was an executive for the chamber of commerce and served in the texas house of r

the treasury testifies before the house oversight and reform committee on the urgent need for additional coronavirus economic relief for children, workers and families in the administration's implementations of key stimulus programs approved earlier this year. watch live coverage beginning at 1:00 p.m. eastern on c-span.

today, treasury secretary steven mnuchin testifies before the house committee before -- on the urgenteed for coronavirus economic relief and his administration's key implementation. watch live coverage of the hearing at 1:00 p.m. eastern on c-span, on c-span, on-demand at c-span.org, or listen live on the c-span radio app. q&a, our night on guest talks about her experiences covering the regions around pakistan. >> sometimes people say things that are critical of the united states or the west, that's more common than somebody saying something offensive about being a woman are causing problems. people tend to be

on tuesday, treasury secretary steven mnuchin testifies before the reform committee on the need for additional economic relief for children, workers and families and the implementation of key stimulus programs approved earlier this year. onch beginning at 1:00 p.m. c-span, ondemand at c-span.org or the sin they have on the c-span radio app. >> governor thomas ow

the committee also obtaining records from the treasury department showing, quote: potential criminalese nationals. joe biden's campaign calling the probe a, quote: exemployed to bail out donald trump's re-election campaign. keep you update you had there. turning now to extreme weather. the remnants of beta stalling over eastern texas, soaking the region with torrential rain. the storm flooding out roads and neighborhoods. some areas in houston seeing up to 14 inches of rain. the city's fire chief says his department has done about 100 water rescues since beta made landfall as a tropical storm. a father shields his children from bullets when a shooting breaks out at new york car dealership. watch as surveillance video shows the guy jumping into action, pushing his kids to the ground as three suspects fire multiple shots. the fire was struck in the thigh and taken to the hospital. is he expected to recover. none of his children were hurt. investigators believe the shooting was gang-related. police say the suspect stole a customer's car outside the dealership and are still on the run. w

in about an hour, treasury secretary steve mnuchin will testify before the house select committee ons. "andrea mitchell reports" starts right after this break. ll repors right after this break start your day with secret. secret stops sweat 3x more than ordinary antiperspirants. with secret, you're unstoppable. no sweat! try it and love it or get your money back. another day, another chance tlet's do this.rd. by making internet speeds fast and reliable. so you can keep up with your customers. by ensuring those speeds have wireless internet backup. so if the power goes down, your connection doesn't. and by covering all your connected devices with serious security. so we can handle this. and this. while you get on with this. and this. be fast, be secure. bounce forward. with comcast business. get started with a powerful internet and voice solution for just $64.90 a month. call or go online today. >>> good day, i'm andrea mitchell in washington. as the stark differences between the two men running for president over the issue of police and protests could not be more clear today. the pres

fed chair powell and treasury secretary mnuchin will both speak to the senate banking committee.ell confronted questions from lawmakers over the fed's policies to help main street versus wall street during the pandemic. powell said the central bank has quote done basically all of the things that we can think of and he called for more fiscal stimulus. michelle? >> all right, diane king hall of cbsmoneywatch.com. thank you. >>> i'm anne makovec at the live news desk. and let's go live right now to washington, d.c. president trump and the first lady are now on the way here to the supreme court building where they will pay their respects to the late supreme court justice ruth bader ginsburg. going to be joining hundreds of people who have been filing past the late justice's body yesterday and today. you can see her flag draped casket there on the front steps. a tribute to a woman who made history and changed society to recognize the rights of women. we are going to keep an eye on that scene as we wait for the president to come by any minute now. back to you. >>> just hit 6:45. time n

. >>> meantime, fed chair powell and treasury secretary mnuchin will both speak to the senate banking committee today. yesterday, powell confronted questions over the fed's policies to help main street versus wall street during the pandemic. powell said the central bank is quote done basically all the things we can think of and called for for fiscal stimulus. >>> citigroup is making a billion dollar commitment to closing the racial wealth gap. it will use more than half a billion dollars to help more people of color buy homes and $350 million will be set aside for procurement opportunities for black owned businesses. the program's main objectives are advancing racial equity and economic mobility through better access to banking and credit. len? >> and diane, some will add pumpkin spice to just about anything. especially now that we're in the fall. but i hear they are messing with a classic this time. fill me in. >> reporter: yes. yes. apparently someone thought why not pair it with macaroni and cheese? kraft heinz canada is launching a fall infused dinner in a box featuring pumpkin spice flavor

our roadmap begins with fed chair powell and treasury secretary mnuchin, what to expect from today's testimony in front of the house financial services committeend how the markets may react. >> then we will talk a bit about this try yant stake in our parent company comcast, what is the behind the thinking at triant and what if anything may owe dur as a result. >> tesla's battery day, where that stock is trying to recover this morning after yet another tweet from elon musk which is part of the discussion today, jim. whether or not he's setting expectations in a different way saying that some of this high volume production is a phenomenon still a couple years away. >> he's giving us an underpromise, overdeliver, i think, which is highly unlike him, but it could make more a little more pizzazz. there's been so much talk about battery day, maybe he lowers expectations an blow them out. people come out and want to buy tesla, want to buy amazon, positive notes about apple, positive note about facebook it's just become the pattern you're waiting and waiting for when the selling is over and then, david, they cannot resist. they're down 15 and 17 perce

the treasury department flagged millions of dollars of foreign money flowing into hunter bidens account from people like not just burisma but the corrupt ukrainian gas committee. but what about our russian old guard who gave him $3.5 million on monday. chinese officials tied to the communist party and the chinese military, the treasury department flagged this in the trafficking, those are outbound transactions, foreign money comes in and the money flows back out of hunter bidens account according to the report to russian and ukrainian women who are connected to trafficking in human trafficking, if this were any other figure in american history tied to a vice president, presidential nominee or a president we would have a major scandal but the new york times and the washington post have covered this up, they had no problem covering neil bush's silverado board time years ago, yet they don't think there's anything wrong with hunter biden. they had no problem covering a 20 minute meeting that don jr. had with the russian lawyer but they don't want to mention that hunter biden got $3.5 million from a suspect russian old. in imposing on the american people today, th

federal reserve chairman jerome powell and the treasury secretary of the united states, steven mnuchin, they will testify to the house financial services committee. look for that at 10:30 a.m. this morning. after the two malt yesterday, they recovery green on the screen for the nasdaq. on the close -- that is what we see right now. red and green on the screen. good morning. this is bloomberg. ♪ francine: this is "bloomberg surveillance." a couple things going on in the markets. first of all, we had basically media reports of what boris johnson will announce at the house of commons, but also later today at a national address at 8:00 p.m. london time, further restrictions on pubs and restaurants. this is the impact on sterling. it had a bit of initial impact. encouraging news out of europe, -- actually come out of the u.s., and technology stocks are leading the gains in europe. joining us now to talk about the markets is luke hickmore. great to have you on "surveillance." when you look at what the market is trying to figure out, how do you price in further restrictions, possible second lockdown, even if not a full lockdown like we had the first ti