where is libor? i always associate them. tom: that is even worse. associates libor as well.oesn't matter anymore, neither does my birthday. matthew miller, thank you. ritika: happy birthday, tom. stephen mnuchin is trying to break the deadlock over a new coronavirus relief bill. he called nancy pelosi with a $916 billion proposal that andudes aid to states liability protections. progress.d the offer they are unhappy at does not include enhanced unemployment benefits. democratic lawmakers balking at joe biden's choice to run the pentagon. congress would have to approve a waiver that bars military officers from leaving the pentagon within seven years -- from leading the pentagon within seven years of retiring. theu.k. will drop tariffs eu imposed on $4 billion of u.s. goods as part of the long-running dispute over legal aid to mayor cap and factors, boeing and airbus. it will set its own tariff policy when it completes the split from the eu at the end of the month. global news, 24 hours a day, on air and on quicktake from bloomberg, powered by more than 2700 journalists and an

dollar libor as soon as practical. are you concerned that some participants may continue to reference libor in contracts after the relevant phaseout da tes? chair powell: we provided guidance to market participants. proposal, which will go out for comment, but the idea would be that libor would cease to exist except in the remaining outstanding contracts. it is very important that people understand that libor should not assumed to be continued after that. it does mean that it will need a needtail, and that will legislation. it is something that we will need to get done. >> thank you for being here. chair waters: the gentlewoman from massachusetts is recognized for five minutes. >> thank you, madam chair. [indiscernible] it is less overdoing than the risk of under doing it. it is not a question of either or. provided thealso fed with over $450 billion to ies,ort lending to cit states, and small businesses. you state three times that the fed is "committing to using its tools and authorities.' " in less than 24 hours, you

for that they must pay for this game was limited bravado was around libor for those that piece you can easily up the ass in the good of society you me the unisys from of course the engine you haven't been mistreated so easy that i listen to you nice they asked that also but was 'd out of the lead still in the church when you came as i could put a notice it is a loan. it to some appear we didn't and i'm worth the paper i live in that is when you my list last year was for studio 88 that means a special what i could only bow out when i can would that was i do it for us to possibly ted binion's that's what i want to show you but it states that you don't see me. and on the system are you could be the upper bound. and you have a good day wishing things here in the us you are not is a mystery emma would have watched as little either none was abusive bowed to newfoundland shut up she would you just all but it's just it's going out on us plans for humans to do it could ability to watch pneumonia but a shit hole in the bush for when the right she is on the point to put them around key as they do

there is a possible tha libor would cease to be publisher exist it's very important that libor should not be assumed to be publisher after that it does mean that's a hard tail and that will take legislation and we are working with congress and the new york state level. it's important that are from a timestamp able to get it done. >> i yield back. >> the gentile woman from massachusetts is recognized for five minutes. >> thank you madam chair. so to participate for greater fiscal aid at the risk of overdoing it at the risk of under doing it i agree with you chairman it is not a question of either or we need stimulus congress has also provided the fed $50 billion to support lending. now on the press release announcing the emergency lending facilities, you state three times the fed is committed to using tools in less than 24 hours you give us any resistance to shadow the facilities including the municipal liquidity with that main street lending facility. so to program my colleague with this landscape going forward with the ongoing pandemic do you expect the number city and states having

libor should be rationed. really because most people don't actually need it. journalists from russia link to news outlets are released after questioning in latvia i am told they can't leave the country will tell you why and here reaction after this this is art international. seem wrong will just don't call. me. yet to see a palette these days become educated and in detroit because of the trail. when so many find themselves worlds apart we choose to look for common ground. the . those in the big community are extremely positive about the future because big coin solves a lot of problems we face because of money because of central banks even though the nation state itself as a unit of governance has kind of outgrown its useful. join me every thursday on the alex salmond show and i'll be speaking to us from the world of politics sports business i'm show business i'll see you then. come back czar t. international now employees of 2 russia affiliated news agencies have been released from interrogation on condition they don't leave lot via the journalist from ball to

libor should be rationed. because most people don't actually need it. still i had john list from russia link news outlets a relief stop to question and wrap the i'm told they call it the country will tell you why i am here reaction of course in just a moment. those and the big community are extremely positive about the future because big coin solves a lot of the problems that we face because of money because of central banks even though the nation state itself as a unit of governance has kind of outgrown its useful. is you'll be a reflection of reality. in a world transformed. what will make you feel safe. high salacious community. are you going the right way or are you being led. by. what is true what is right. in the world corrupted you need to descend. to join us in the depths. oram. in the shallows. why employees of 2 russia affiliated news agencies have been released from interrogation on the condition they don't leave lot fia the jobless from bull news on that lotfi what charged with violating e.u. sanctions and culture of ha's the details. all we

weeks to do so and it doesn't allow that to be as free as as it has been kristie i want to turn to the libor a lever crypto currency is it renamed itself d.m. its in and then africa to show that the project has these organizational independence as it attempts to even get some regulatory approvals for launch why did leverage change its name. it's just a rebranding attempts a bluff at changing the name the image the face of the organization in order to distance itself from facebook who is already being accused of being too big too powerful and too influential so with facebook's power and global reach libras seem to threaten traditional government run time actual systems so d.m. has now shrunk significantly in scope since it was 1st announced the project is now rumored to launch in a much more limited form in the d.m. dollywood debut as a single coin back by the dollar to be launched as early as january 2021 so if you think about it libra was originally meant to be a coin peg to multiple currencies for stability that would be traded in place for them so it was later then changed to offer multip

i don't libor rowing money.ike spending money we don't have but the time to borrow money, maybe the only time to borrow money when there is a crisis. this is a crisis. connell: joined by republican congressman from pennsylvania dan meuser, a member of the problem-solvers caucus. also a member of the house budget committee. we've been down this road literally. i remember to have you on talking about effort you guys made a few minutes ago. as edward reported a few minutes ago, maybe this won't get a vote on the floor. what are you hearing about the effort that you guys are putting forth? >> it should and you're right. few months ago, problem solvers came with 1.5 trillion bill that was quite targeted. frankly i like this one a lot better. it is even more targeted. it is addressing needs. we have real needs. there is, continues to be a high level of unemployment. now it is rapidly declining but it exists. it is at 6.9% nationally, 7.3% in pennsylvania. we also have a needs in our schools. we have, we need funding f

that is one due to the fact the benchmark is libor plus 5 which is an aggressive benchmark. most would be benchmarking an absolute return allocation against a libor plus 3 but you have also not had strong performance in the absolute return portfolio. a lot of that as david and bill have explained is a couple of investments that are not reflecting current market values that have under performed. so again, i would summarize all of this by saying the portfolio is close to policy weights and your policy is a conservative policy which we don't expect to be impacted by a significant contract in equity markets. so despite a conservative positioning, the staff is operating the portfolio close to policy. policy has contributed a significant a and the selection of managers has added to the strong policy base resulting in very strong results. it's hard to find negligence tif -- negatives. turn to page 30 and 29 and highlight public equity. the numbers where you see public equity $10 billion, 35% of your portfolio, your ranked in the top percentile of your 75 member peer group in virtua

a look at their their lives take a look at policy and begin to say you know what the message that libor rate is is telling us and conservatives overall that that's that's the direction i want to go whatever the outcome of the georgia senate runoff the real winner might be the power of each person's vote to toss it in a oh just 0 atlanta. on a hollywood fast warner brothers has announced it will make its blockbusters available to stream online and the same time as in cinemas it's a major shift in an industry hard hit by 1000 walk down the company's upcoming titles will be released on the h.b.o. max platform in the coming months may just 2 years have been forced to bypass cinemas as close as say their traditional revenue streams dry up on jawn murray is a medium pub culture expert he explains just how this decision came about. what happened wasn't 2021 of the brothers released him it was a movie by christopher nolan the director of the right of the producer and he was adamant that that film had to go into theaters well we're in a global pandemic and some people are going to be honest and

that is one due to the fact the benchmark is libor plus 5 which is an aggressive benchmark. most would be benchmarking an absolute return allocation against a libor plus 3 but you have also not had strong performance in the absolute return portfolio. a lot of that as david and bill have explained is a couple of investments that are not reflecting current market values that have under performed. so again, i would summarize all of this by saying the portfolio is close to policy weights and your policy is a conservative policy which we don't expect to be impacted by a significant contract in equity markets. so despite a conservative positioning, the staff is operating the portfolio close to policy. policy has contributed a significant a and the selection of managers has added to the strong policy base resulting in very strong results. it's hard to find negligence tif -- negatives. turn to page 30 and 29 and highlight public equity. the numbers where you see public equity $10 billion, 35% of your portfolio, your ranked in the top percentile of your 75 member peer group in virtua