casten: i agree but where are the offloading that risk to? we have seen them putting it on fannie and freddie. fannie and freddie trying to put it on the reinsurance industry. rep. mchenry: the gentleman's time is up. a gentleman from the great state of missouri, congresswoman wagoner, recognize were five minutes. >> thank you, mr. chairman. keeping with the baseball analogies. >> questioning of jay powell live on bloomberg. >> longer-term inflation expectations appeared to remain well anchored. could you please expand on that for us? chair powell: in our thinking, thinking of economists and central bankers, what the public expects about inflation is important. if you expect there to be low inflation, it probably will be low. you will make sure that is true when you are making decisions. we survey individuals, businesses, market participants. then we look at market-based -- you can also derive market estimates of what inflation will be through various instruments in the market. all of those suggest that people expect inflation to be around 2%

casten: check out "the new york times" today. it's fascinating because it would seem to imply that there's a way to back into the data. at least as far as what's happening with this -- rates as -- and where some of the exposures are and we can get wonkier here than our time will allow. it seemed to suggest that there's a real dichotomy between states that have a very pro-consumer regulatory structure, that aren't keeping rates high enough to attract business, and states that are letting anti-trust issues run amok and driving rates up. and meanwhile -- sec. yellen: the state regulatory regime i think definitely matters to what's happening in individual states. mr. casten: i guess, sometimes five minutes bothers me. [laughter] the concern i have is that insurance is going to be this canary in the coal mine except it's more like a gorilla in a very small closet, i guess. it's all regulated at the state level in. theory we have fiyo, in theory this committee has jurisdiction over insurance generally, whatever that means. but it just

casten: i want to get a little specific. we talked about this before, a constituent took his life after being falsely told he was upside down on an options trade. his note says he doesn't know why he was only allowed to trade options, he only had $5,000 to his name. the obvious concern that raises is if you are getting the data you would have as a credit card firm that can identify people who are prone to his good behaviors, and you are selling something that is attractive to people with risky behaviors, do you have the tools to protect that in advance? or do you have to wait for some violation that you can pursue a compliance violation against? dir. chopra: for brokerages, they have to follow securities laws, inasmuch as they are doing consumer lending given our current status of privacy and protection of financial data, it is pretty weak when it comes to that type of sharing. i don't think we would have the tools to stop it in advance. rep. casten: that wall between commerce and banking can be breached, and it is not until

what congressman casten, i appreciate your time. thank you for the conversation. >> thank you. >> next, what do the delegates do if biden is out? i'm going to talk to one who has been supporting biden all along. and then an expert is going to join us, who knows all of the dnc rules to explain exactly what a contested convention would mean and what happens to the delegates plus trump describing in detail his attempted assassination i heard a loud whizzing sound and felt something hit me. >> really, really hard. >> our dr. jonathan reiner, who was a white house physician under george w bush, will be with us outfront and computer systems around the world all crashing it once thousands of flights grounded hotels, not working department store is not working how can one company caused this the last few years have been really tough on my family this never ending cycle of inflation is taking more and more out of my paycheck. >> hardworking families like mine are hurting. >> we need help and relief from rising costs why aren't we harnessing

this morning saying he would like to see president biden step aside as the party nomination john casten of illinois he writes at the end of the civil war, president abraham lincoln said, he never doubted the union would prevail because there was always just enough virtue in the republic to save it. sometimes none despair, but still enough to meet the emergency. we need a messenger at the top of the ticket who can make that case? it breaks my heart to say it. but biden is no longer up for that job your reaction hearing that well, the beauty of our party is that we get to agree to disagree and we aren't banished. >> we aren't emasculated, and we aren't put out of the party unlike the maga republican party. so i don't agree with the senator president biden has said that he's staying in this race. he is still our nominee, but the senator, of course, has the ability to express his opinion. but as i'm talking to people outside of washington, dc, talking to everyday people people. i joined 1,400 other african-american women in signing a letter supporting the biden harris ticket? i believe that

. >> joining us now to discuss, is democratic congressman sean casten of illinois congressman. thank you so much for sharing part of your afternoon with us. do you think that this matter is decided? do you think that door may still be open in your eyes to president biden stepping aside from the top of the democratic ticket i? can tell you there's a rich conversation going on within our democratic family right now. but what were, what were completely unified on his understand the stakes of this election the joe biden has had an extremely effective presidency. we know that in the alternative, we have a convicted felon and adjudicated rapist who brags about taking away roe v. wade, who because of this supreme court, has been empowered to be a desperate on day one. and we will want to make sure as a democratic family, what we do next. whatever that is ensuring that we went in november when i say democratic family i'm not talking just about those of us who have the privilege to work in this building. i'm talking about about my own constituents back home as well. we understand the st

casten of illinois, became the 23rd house democrat to make that call. and cnn chief investigative correspondent, pamela brown joins us now and pam, you have new reporting one of the questions is, is the president hearing all of these appeals? what are you finding out? >> what i've been told by sources and we have a whole team reporting this out. we've reported i've been coming in. it seems like by the minute on this unfolding situation with president biden, what i'm told is that he has in isolation as we know, recovering from covid as one source said, this is really a gift for him actually absorb the data that is coming in. and as you know, as we've been reporting the data that is coming in for the most part does paint a grim picture. now, that's not to say though, that president biden has rolled this out. we heard jen o'malley, the campaign chair saying, look, he still absolutely in this race, he is more determined than ever after donald trump's speech. but what i am being told by sources is that he is contemplating the data he is looking at it he is t

casten: mr. speaker, we often talk about kitchen table issues and what better time to elevate those issues than this week, which you all have declared in honor of refrigerator freedom. specifically, as i was walking around july fourth, i heard a lot of issues from my constituents about refrigerators. some of them asked, who put the meat in the crisper drawer? that was a big fight. why aren't you using the egg holder for your eggs? if you use the last of the mustard, don't just put it back in the fridge, go to the store and get some more mustard. that's a fight, right? and there's the always controversial -- should we or should we not replace a perfectly good refrigerator just because it doesn't match our cabinets? these are the real issues that are bothering americans around their kitchen table when they talk about refrigerators, and if those sound silly, i would only point out that those issues are vastly more important, more substantive, and are legitimate points of debate, you can argue both s

congressman sean casten of illinois. he made that plea in a new op-ed titled it's time for joe biden to pass the torch. congressman, i appreciate your time and i know you may have heard part of that conversation we were talking about the polls and how the president clearly does not believe polls and has been angry about them when they have been pointed out to him for many months prior to this and, to that point, the polls said there'll be a red wave in the midterms, didn't happen. biden was written off off early in 2020 when he lost iowa, new hampshire, and nevada, and then he came back south carolina. he became president so do you think that he has justified at this point to dismiss the polls? >> look, we all have different points of data i've come to you as someone who truly loves joe biden, who has amazing respect for what he's done over his five decades. and i think i speak for every member of the house, democratic caucus that we fully understand and are frightened by the stakes of this election. we also are people w

father and that is a great thing because my father, i remember when my father got the right to vote or casten effective vote here in south carolina. it was not until 1948 that the democratic party opened itself up. two african americans know this is not the democratic party of my father, and that is a great thing and so let's go forward with these improvements that we've been making in this party opening this party up to everybody, and keep it open to everybody. so the process is there and i think we ought to yield is that process and go to chicago. and maybe open on 19 august. do so on one accord. so whatever it's going to happen, all these people who are interested in getting into the process, the process is open, get into it look at the rules. it's there and i've said, you could use this process into effectively have a minute, minute primary if that's what you're interested in avid. but if you go to the convention, having an open process in the convention it will come out the same way it came out in 1968, 1972, and 1980 when we had contested primary processes on the floor of the convention

it's all going to come out in the wash and laura, i mean, just this morning, sean congressman sean casten became the 23rd democrat to call for the president to leave the race. >> but i was talking to congresswoman veronica escobar, national campaign co-chair for the biden campaign. she makes a pretty good point. she made a good point on this program and that is there's a lot of democrats who are saying the president should get out of the race. they're not doing it publicly we have 23. there are some 200 democrats in the house they're only two senators who are publicly calling on the president to get out of the race. does she have a point? >> she does. >> i mean, the majority of lawmakers have not weighed in here yet. they are privately. i mean, a lot of the democratic lawmakers that i've talked to do think that he should get out of the race, but they're not willing to go public just yet one thing that i'm hearing from them though, is some are saying that if they don't see a change from president biden, that they will go public by monday. a lot of them feel as though monday is the key date

here's what illinois congressman sean casten told cnn earlier. >> the. narrative since the debate has been how is president biden going to shift the focus onto his record and away from from the slips of the tongue. and people are nervous about that. and the polls that folks are doing that they're seeing that we've seen and i've not seen anything different from the white house so just that if we're going to put our best foot forward, we need to make a change and that makes us really sad. >> cnn's mj lee has details from the white house the biden campaign coming out in full force on friday to insist that president joe biden is not going anywhere. >> the biden campaign chair, jen no. malley dillon saying on television, are absolutely the president is staying in the race. the campaign also sending out a memo saying that there is simply no alternative plan right now to president biden. and also in a statement himself, the president saying that he is looking forward to getting back out on the campaign trail. presumably, once he has recover from covid, he is cu

casten of illinois. the speaker pro tempore: the question is on agreeing to the motion to recommit. members will record their votes by electronic device. this is a five-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of representatives.] the speaker pro tempore: on this vote the yeas are 199, the nays are 207. the amendment is not agreed to. the motion is not adopted. the question is on passage of the bill. those in favor say aye. those opposed, no. for what purpose does the gentleman from new jersey seek recognition? mr. pallone: on that i ask for the yeas and nays. the speaker pro tempore: the yeas and nays are requested. all those in favor of taking this vote by the yeas and nays will rise and remain standing until counted. a sufficient number having arisen, the yeas and nays are ordered. members will record their votes by electronic device