i'm joined now by kareena hoyer from oxford economics she is the managing director for a year up there and scott lipinski c.e.o. of the german fashion council welcome to you both glad to see we're all dressed for the occasion scott i'd like to start with you the shift in consumer taste as to what we call pandemic chic casual loungewear and such that's been an almost global phenomenon but what has that done to the fashion industry. for sure there are a couple of winners and the fashion industry where this increase in revenue trends are all the casual wear but those brands and those companies are not the only ones actually who make the fashion industry so we have formal wear brands we have evening wear brands we have business where parents and all of them actually have a decrease in revenue and it's not just the brands itself so we also should think about everyone participating and aligned with the supply chain so it's the manufacturers maybe not also in germany but globally it's there in the the partner is not these brands work with they're also suffering under these circumstances so it

i'm joined now by kareena hoyer from oxford economics she is the managing director for a year up there and scott lipinski c.e.o. of the german fashion council welcome to you both glad to see we're all dressed for the occasion scott i'd like to start with you the shift in consumer taste as to what we call pandemic she casual loungewear and such that's been an almost global phenomenon but what has that done to the fashion industry well for sure there are a couple of winners and the fashion industry where this increase in revenue trends are all the casual wear but those brands and those companies are not the only ones actually who make the fashion industry so we have formal wear brands we have evening wear brands we have this is where burns and all of them actually have a decrease in revenue and it's not just the brands itself so we also should think about everyone participating and aligned with the supply chain so it's the manufacturers maybe not also in germany but globally it's the the partner is not these brands work with they're also suffering under these circumstances so basically i

economist at oxford economics. steve liesman is here in the middle of it all for us. steve thank you for setting this up greg, let me go to you first if you just set up why you think this plan could boost jobs, boost the economy. lay that out for us first. >> i think what we are looking at, the biden stimulus actions so far they have been mostly cyclical right now we are looking at a plan that is aiming at the structural side of the u.s. economy. really lifting long term growth and long term potential. we don't think it is going to create the most jobs ever since worlds war two but there could be a potential 1 million jobs over the next year and a half that's created by this plan and maybe two million jobs over the next three years a net benefit. but perhaps importantly a boost to the economy's potential that's what we are looking for at this stage of the recovery. >> boosting the economy's potential is more than boosting gdp. it means we can do more gp on top of more gdp in the future. it start of multiplies but you are more skeptical on what the jobs plan would do w

further, oxford economics estimates that enacting this bill would shorten the recovery timeline from five years to just three. while creating an incremental 1.5 million jobs and generating nearly 600 billion in spending. fourth, congress should provide temporary emergency funding for brand usa, america's destination marketing organization. over the last several years, brand usa's generated 26-1 return on investment for the u.s. economy. however, the drastic decline due to international travel restrictions, combined with scarce contributions during the economic crisis have decimated the program's funding. if it's unable to continue, it's important work, international recovery will be severely limited. specific policies can also be implemented to improve the industry's long-term competitiveness and ensure that we come back stronger than ever. these policies include passing the visit america act, which senator sullivan introduced last year to he will evaluate travel leadership in the federal government. this would strengthen the commerce's role in travel policies and set consistent nati

current and growth of 7% and 5% in the second half of the year, not too shabby greg daco from oxford economicst to the year means that consumer spending growth could approach 10% while rising 8% but john ryding worries there is a valid issue as to whether the economy can meet it. on annual basis, economists don't see a return to trend growth, until 2023 the economic contraction in 2020, you can see down in q4, gives way to a sharp rebound 7%, 4% for 2022. and then back to year 2023, we only have half dozen estimates that's more towards trends growth in two years from now the massive government spending and the rebound from the pandemic, it's very difficult to separate the two for now, only once we get past the impulses in the economy do we get an under how the underlying economic growth is doing. andrew >> question for you, is there anything anything you can look at now to see whether it's just a sugar high, or if this is sustainable? >> you know, i think it's early yet, andrew. there's no perfect experiment in the economy with these two massive impulses coming through, the rebound from the pa

economics.” >> this is the shift we need to make if we, humanity, are going to thrive here together this century. >> reporter: kate raworth of oxfordcalls herself a renegade economist. she came up with the model, outlined in her 2017 book, which made waves around the world and was even commended by the pope. what is doughnut economics? >> so, doughnut economics, it's not about doughnuts, but it's about the future of humanity. we offer a doughnut shaped compass for creating the 21st century that we want. >> reporter: what makes the theory radical is raworth's assertion that governments need to stop looking at g.d.p. growth as the ultimate measure of success. >> we're getting very, very clear signals from the earth system, from climate breakdown, from ecological breakdown, that the way we are pursuing growth is destroying the living systems in which we depend. >> reporter: instead, she says societies should strive to operate within two concentric circles that look like a doughnut. she uses a diagram like this to explain. the outer ring represents earth's “ecological ceiling,” limits on damage being done to the planet, including clima

economic opportunities of tackling the crisis. a new malaria vaccine is being hailed as a game changer in the fight to eliminate the disease the oxford institut vaccine has proved 77 percent effective stopping infections and there's now entering larger human trials to rule out any side effects and the area kills half a 1000000 people every year many of them children. so it's in this 100 kilometers away from brick you know fossils capital deep in this how the region that a groundbreaking discovery was made here blood samples were analyzed from 450 children given an experimental vaccine against malaria developed by scientists from oxford university's jenner institute scientists say the results of their year long study are extraordinary i have been part in other studies like these but never have i seen such good results. taking part in this study so your children are feeling great it's an extraordinary moment to see that the vaccine against malaria actually works. malaria kills almost half a 1000000 people a year globally mostly children living in africa there's been efforts to try to slow the spread of malaria by distributing mosquito

remarkable opportunity the economic opportunity that we have here and the malaria vaccine is being hailed as a possible game changer and the fight to eliminate the disease the oxford institute jab is 77 percent effective in stopping infections it's now entering knowledge of human trials to rule out any side effects agent hill as a director of agenda institute at the university of oxford he says it's a fast time they've seen such a highly effective malaria vaccine. i think it's going to be very important for a few reasons really firstly it's more effective than anything that has been reported on before the world health organization wanted the 75 percent effective vaccine this is the 1st time we've gone just early ones gone just above that level with 77 percent really importantly it can be manufactured at last at a large scale and we're hearing from the syrian institute of india today that they will be able to produce 200000000 doses or more on registration of this vaccine and so far very importantly the vaccine looks serve in small numbers 450 trial some jerks we know are planning to go into a much larger trial to try to get this is seen registered so it can be use

oxford university, and yale law school and that might account as her success as governor. she was an extraordinary leader when the covid crisis erupted, and then she's been a great asset to our economic activities in the state, dramatically enhancing our economy, and a dynamic partnership, welcome madam secretary. >> thank you, senator reid. let's start with secretary buttigieg. secretary, please go ahead. i apologize for the distance in here. usually a committee of this size, we're a little closer together. it's a sign of the times and i'm hoping before too long that will change. please go ahead, mr. secretary. >> thank you. [ inaudible ] >> is your microphone on? >> how about now? yeah, sorry about that chairman. thanks to all of the members of the committee for inviting taos testify today. we're gathering at a moment in which our infrastructure situation calls both for urgent action and for long-term strategic vision. as we speak a climate crisis is already hurting americans and it will continue to get far worst if we don't act. in this moment we need to add back millions of jobs to fully recover from the pandemic, even as we build a stronger foundation for the economic future. it