before the senate banking committee on the carrier will explain why they remain at odds over federal loan programs are they going to break your the numbers of the. bank you have. to. park a board if you. book is a little me. because well good luck. to. you one of my. little did the job as a. only . one or you'll remember our part of our number. and it's. going to give you some of the. join me every so st simon sure and i'll be speaking to get a little the full picture. i'm sure. i'll see you then. we're segregated and they're all my social class lower middle class people also in poverty by 1st name if you're born into a poor family if you're born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average 15 years younger than if you're born into generational poverty. so by every day she you meet your needs and the needs of your family. welcome to max kaiser financial survival guide. looking forward to that without. this is what happens to pensions in britain don't just. watch kaiser report. on tuesd

the treasury secretary steven to fight before the senate banking committee on the carousel will explain why they remain at odds over federal loan program as we go to break here the numbers of the. same wrong. just don't. get to shape out. the ticket and in detroit because the trail. when so many find themselves worlds apart we choose to look for common ground. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. spearing dramatic development it only really. i don't see how that strategy will be successful or ready. to sit. in. the. book. because. it is. on tuesday federal reserve chairman powell and treasury secretary stephen gave their quarterly kara's our testimony before the senate banking committee were neutral and powell urged congress to provide more aid for small businesses so for more on today's testimony. the stimulus we are killing it by boom bust co-host christi i am founder and chief market strategist of the technical traders dot com chris mealand chris let's start off with you this is a 1st appearance of power and management toget

come back fed chairman jerome powell and treasury secretary steven has to fight before the senate banking committee on the kerry's article explaining why they remain at odds over federal loan programs as we go to break here the numbers of the good. luck. to do the same but i think they're going to be cheap 1st and then through and through all that come through so let's get the ideas from their right to scold us come to that he said to me give them everything let's do the best. leave this country. this is what we don't understand how we are in such a country it's. the nurses are the ones at the same time. noticing i'm going to be the soon to run up similar similar john a good one. because. if the middle of kong were not that god can we believe again with the phone without the computer without the plane could the flu come back to the 3 story you have to see. it at least in the us a. little. look to. show it's the same wrong why don't we all just don't hold. me to the world yet. shape out just to come out to it and in again because betrayal. when so many find themselves worlds apart. just to look for

back, but chairman john kyl and treasury secretary steven chu, chen testified before the senate banking committee on the kerry side will explain why they remain at odds over federal loan programs. as we go to break here, the numbers that the was under make no certain, you know, borders apply to nationalities and some are sick commentary closest is this until we can do better, we should be everyone is contributing way. but we also know that this crisis will not go on forever. the challenges create the response, has been so many good people are helping us. it makes us feel very proud that we're in it together. always be polite, never engage with a negative, aided or confrontational. also don't get into any conversation or start answering questions. just ask for an attorney to survive in the territories. definitely don't want to be going to try to jump on cops. you're more likely to walk free if you're rich and guilty, or if you're poor, and you've got 2 eyes, 2 ears, and one mouth. so you should be seen in here and a whole lot more in your sand. if you don't take that advice, easy going to dig your

before the senate banking committee on the carriers are will explain why they remain at odds over federal loan program as we go to break your the numbers of the. chancellor's bank you have. to. look like it would if he does was good enough. it is. going to. do the job of holding up as the. image of what's not ever. going to come back i may want to buy a book about one or you'll. know part of our number. 2 and it's. going to give some of the. israel media a reflection of reality. in the world transformed. what will make you feel safe. high salacious the full community. are you going the right way or are you being led so. what is true what is great. in a world corrupted you need to descend. to join us to live . or a mate in the shallows. seemed wrong all all just don't call. me the old baby yet to shape out just being a comforting advocate and in again because betrayal. when so many find themselves worlds apart. just to look for common ground. on tuesday federal reserve chairman jerome powell and treasury secretary steven nugent gave their quarterly cares act testimony before the senate ban

powell testifies today before the senate banking committee.prepared remarks he said recent news about vaccines is very positive for the medium term. still, powell said a resurgence of the coronavirus is concerning. pfizer and partner biontech have regulatory clearance for their vaccine in europe. that puts it on track for potential approval before the end of the year. a study of almost 44,000 people showed the vaccine prevented 95% of symtomatic coronavirus cases. global news, 24 hours a day and on bloomberg quick take powered by more than 2700 journalists in more than 120 countries. this is bloomberg. ♪ >> i would say that will the bappinging industry had a good relationship with her. f she is elected into or voted into the seat, i think she'll do a great job. i would expect that relationship to continue. jonathan: michael corbat on janet yellin, speaking with david rubenstein, watch that entire interview friday at 10:00 a.m. eastern time. from london and new york this morning. good morning to you. i'm jonathan ferro. this is how we shape up

jay powell, steven min mnuchin hand in hand, they'll be testifying to the senate banking committee to talk about the point you raised which is fiscal support. how it's needed. expect them to talk about that. i am particularly curious about w steve mnuchin nuances to withdraw some of the crash left over from some of the programs al low kited to the federal reserve. also today president-elect joe biden and vice president elect harris are introducing some key economic policy nominees and appointees in wilmington, delaware. interesting to see the controversy that's building around some of them as joe biden tries to sort of hint to be more progressive type of strategy and platform. even though it's going to be a lot of pushback from the republican senate. jonathan: that's the lineup for today. it's busy. looking forward to hearing from chairman powell and secretary mnuchin. good morning. equity futures up 37 on the s&p 500. the united states i think the best month since april on s&p. the nasdaq the best month since august. russell, the best month every. the europe the 600, best ever. spain

jonathan: secretary mnuchin before the senate banking committee, calling for more stimulus.one listening? the talks are happening. where are they going? from new york and london this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. live on bloomberg tv and radio, here's the price action. record high in the close on the s&p 500. a soft, muted go back. -0.2%. we will talk about a weaker dollar a little later on this morning. dollar making the smallest of comebacks. in the bond market, what a move yesterday. it is based on what? the data, talks, positioning? yields up underway. tom: we will get to that any moment. right now on the politics of the moment, our chief washington correspondent kevin cirilli. when the news changes, i change, kevin. i know there is an idea of stimulus, this, that on the other thing. the only thing people are talking about is 8:00 last night and the idea of pardons. gerald ford pardoned richard nixon in 1974. what is the linkage of the nixon pardon to president trump getting out front of pardons before anybody is guil

guy: repaired testimony is being delivered at the senate banking committee hearing. jay powell talking at the moment. after that we are going to move through into the q&a phase, and at that point, we will dip in and hear what they have to say. one thing that is certainly big in the market today is what is happening with tesla. it is going to go into the s&p on december 21. there was some suggestion it may chunks, but money managers seem pretty happy we are going to see this going in one go. it is going to go in as the seventh largest company on the s&p, so it is going to have massive portfolio effects. it is going to be fascinating to see how this one works. i've read a number of reports suggesting the market is looking to be long in and short out. ultimately when it happens, you get a fade. alix: part of the rally we have seen, some are attribute into the fact that they have been front running this, but there are still about $11 trillion in funds tied to the s&p, so there is still a lot of money to be turned out here. what i find really interesting is that you are d

secretary steve mnuchin and federal reserve chairman jerome powell testified before the senate banking committee urging congress to act fell martin reports the 2 top economic voices just like congress remain divided on how to move forward. >>tuesday hearing ohio democratic senator sherrod brown flam treasury secretary steven you're leaving the country worse off then you found newton has refused to extend federal emergency loan programs designed to help businesses and governments survive the pandemic there is no legitimate justification for brown says because i'm new decision president elect biden will inherit an even bigger economic malpractice anyone was watching to all the last month would know that this is the time for action not to retreat put secretary insists the economy is making a record comeback. the october jobs report showed that the economy is getting back 12 million jobs. he says he believes the law requires him to end the program's fight decision not to extend these facilities was not an economic decision still newton says congress should act quickly to pass another relief bill to

today treasury secretary steven and federal reserve chair jerome powell testified before the senate banking committee urging congress to act the nugent has refused to extend federal emergency loan programs designed to help businesses and governments survive the pandemic the house democrats passed a really build back in may. but the top senate republican mitch mcconnell says he's sticking with the partisan scaled back covid-19 relief bill. the senate bill has already failed twice. democratic leaders resume talks one newton about a year and spending package with covid relief provisions. this all comes just one week before government agencies will run out of money and the federal government is slated to shut down. >>for sports. warriors general manager bob myers told kron 4 news today that. >>2 players tested positive for covid-19 upon their arrival to training camp. he couldn't reveal who exactly the 2 players were but this isn't something that should be mind blowing giving the circumstances at the same time people contracting the potentially deadly virus shouldn't be considered normal. but it is what

. >> tuesdayreasury secretary and federal present chair test by before the senate banking committee. the provide an update on emergency measures to provide relief on the economic downturn. triggered by the coronavirus pandemic. it was like a branch of the hearing on tuesday on c-span. on demand at cspan.org. artist lied wherever are, t

treasury secretary steven mnuchin and federal reserve chair jerome powell testified before the senate banking committeend provide an update on emergency measures to provide release from the economic downturn triggered by the pandemic writ watch live coverage of the hearing tuesday on c-span, ondemand on c-span .org or listen live wherever you are on the c-span radio app. >> c-span's washington journal every day we take your calls live on the air on the news of the day and we discussed policy issues that impact you. coming up morning johns hopkins university's bloomberg school of public health epidemiologist doctor christopher buyer discusses the development efficacy and safety of the covid-19 vaccine and then social security works codirector nancy altman talks about the group's priorities on social security reform. watch c-span's washington journal live at 7:00 a.m. eastern tuesday morning. be sure to join the discussion with your phone calls, facebook comments, text messages and tweets. >> the supreme court heard oral argument in trump v new york, a case to determine whether president trump has the au

encouraged congress to take action on additional coronavirus relief while testifying before the senate banking committeecretary mnuchin also faced questions about his recent decision to end several federal reserve emergency loan programs. this hearing is almost 2.5 hours.

eastern, plus fed chair jerome powell speaking in front of the senate banking committee.ys the economic recovery is, quote, extraordinarily uncertain. >>> turning to corporate news samsung may discontinue its gallaxy note phone. analysts say sales of the note are expected to drop about 20% this year. part of that due to competition and others saying it's due to less demand for high-end smart phones. >>> the nfl game between the arizona cardinals and san francisco 49ers on december 26th is skipping national tv and will only be on amazon prime video, twitch, and local stations in those markets. it's part of amazon's recently expanded deal with the nfl league. amazon locking in streaming rights for thursday night football through 2022 and got this season's game as an exclusive, one of which is guaranteed to host each season. however, you can still stream the game on mobile through nfl sites. back to you. >> good to know. thank you. >>> speaking of the 49ers, new clarity after covid-19 restrictions forced them out of levi's stadium. coming up on "today in the bay," what we kn

they spoke before the senate banking committee earlier today. show you the entire hearing tonight starting at 9:00 eastern on c-span. announcer: use your mobile go to c-span.org for the latest video, live and on to follow the transition of power, president trump, biden, news ect conferences and event coverage at c-span.org. announcer: earlier this week, its hite house unveiled 2020 christmas decorations themed america the beautiful. here is a look.

they spoke with the senate banking committee earlier today and we will show you the entire hearing tonight at 9:00 on c-span. presidentialceful transition of power in question following the 2020 election, sunday night on q&a, historian susan shelton and eric roche way talked about 1861 between james buchanan and abraham lincoln. and 1933 between herbert hoover and franklin roosevelt. >> several southern states did not recognize the election of abraham lincoln as legitimate. they considered him a sectional president for the fact by and large his support came from non-slave states. no sooner had he been elected that south carolina makes good on its promise to proceed toward seceding from the union. had noer on election day choice given the resounding nature of the vote, it was clear he had lost. but he never conceded the substance of the argument. he continued to believe the new deal as roosevelt had framed during the campaign and continued to work toward it after the election, representing a fundamental threat to the american way of life. he devoted himself to preventing roosevelt from bein

he told the senate banking committee that recent news is positive for the medium-term but significant challenges still remain. the fed lending funds expire at the end of the year. i ran has buried its top nuclear scientist, blaming israel for his death. the scientist is seen as the founder of the islamic republic's nuclear program. the uae and bahrain have condemned his killing as a further threat to middle east peace. the two have strained ties with iran. american airlines plans to reintroduce its 737 max planes by offering staff a series of flights to help build confidence. american is planning five chartered trips before the max returns to schedules around new year. customer confidence will be boosted. the max has been grounded for 20 months after fatal crashes. air travel numbers climbed to their highest in months as flyers big nor advice to avoid trips during thanksgiving. that is the most since march when the coronavirus began to devastate demand. u.s. officials urged people to stay home over the holidays to prevent a surge in covid-19 cases. global news, 24 hours a day, on-air

he testifies today before the senate banking committee. in prepared remarks, he said the recent news about vaccines is very positive for the medium. still, powell said a resurgence of the coronavirus is concerning. vice president pence is signaling that regulators will quickly approve an emergency authorization for the first coronavirus vaccine. he told governors that vaccines could start to be distributed the third week of december. one governor says it is not clear who should get the first doses. opec and its allies need more time to reach a deal on oil production policy. anyeting broke down without agreement. energy ministers will try thursday instead of today, allowing more time to stick around, whether to delay a planned increase in output starting in january. supporters say the market is too fragile to observe more oil. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more i'm ritikauntries, gupta. this is bloomberg. francine? francine: thank you so much. this is wha

as you mention, that coming from senator ron wyden, top democrat on the senate banking committee. he says in a statement microsoft notified the agencies that dozens of email accounts were compromised. additionally, they broke into systems in departmental office division of treasury, home to the highest ranking officials. secretary steve mnuchin told cnbc that the department was impacted. he said at this point doesn't look like there was any mass ex-kul trags, but important to note we talked about the what that happened here, also important to note why. folks may think the u.s. treasury department, russian hackers gained access to information on u.s. monetary policy. treasury department is much more than that. there's a terrorism and intelligence directate, an arm that works to sanction foreign official and regimes. past several years, several russian oligarchs have been sanctioned by the treasury department. accessing that information could prove beneficial to a foreign intelligence service. now we also know that although the president and others have been trying to down play sign

senator mcconnell that, yes, if they lose both seats it will be senator leader chuck shumer, senate banking committee bernie sanders. the problem with that, you have senator joe manchin saying he's not for defunding the police, so he's kind of a check on the conservative democratic side. it's the pitch republicans are using and they seem to be using it effectively. we'll see. >> dana: we'll see. i want to ask you about something very special to you and to your family. you do an annual children's national hospital benefit. tell us about this year's. >> well, you've been down there, down in naples, florida. we raise a lot of money. this year we couldn't do it because of covid. we tried to do it outside and have all this testing. we decided to go virtual. we wanted to have a panel event february 13th that we are going to sell tickets to. there will be panelists, charles payne, emily compango and me. we will answer your questions. we'll have guests and a great auction of things you can't get anyplace else. our son paul was there two weeks ago and is doing good recovery. good stocking stuffer. i bought yo

secretary mnuchin yesterday before the senate banking committee you indicated it should not be leaving the conservatorship without proper oversight does that mean they have to have capital and the new capital is that the minimum that is specified in the 2020 will? >> we have made no decisions but there could be a scenario at some point between basically the zero a-uppercase-letter have a national capital requiremen requirement, there would be a consent order and they would be released subject to the consent order. but there has to be significant capital for them in my opinion to be released. >> thank you. and it has been truly remarkable. so to be on the other side and with that i yield back. thank you. >> and tnk you for all your work during the pandemic when of those facilities with the mainstam program has a nuer of issues and is a sappointment and designed to have 6 million in businesses but it's only $5 billion of loan. >> i and disappointed as well but it was very difficult to design a program and a see the familiar with us --hyphen with th loan that was made i haven't seen the u

keeping our eye on the senate banking committee hearing.teve mnuchin and jerome powell, we'll take you there live as soon as q&a begins we'll get clarity as pelosi and mnuchin will speak at 1:00 on covid relief don't go away. [ whispering ] what's this? oh, are we kicking karly out? we live with at&t. it was a lapse in judgment. at&t, we called this house meeting because you advertise gig-speed internet, but we can't sign up for that here. yeah, but i'm just like warming up to those speeds. you've lived here two years. the personal attacks aren't helping, karly. don't you have like a hot pilates class to get to or something? [ muffled scream ] stop living with at&t. xfinity can deliver gig to the most homes. >>> by the time we get to april, there would likely have taken care of all the priority and then the general population of the normal healthy, young man or woman, 30 years old, who has got no jund lying conditions can walk in to a cvs or walgreens and get vaccinated i would think as we get through april and may that we likely would have

they spoke before the senate banking committee earlier today. we will show you the entire hearing tonight at 9:00 eastern on c-span. ♪ c-spanican history tv on three. exploring the people and events that tell the american story, every weekend. america,end, on real health officials prepared a rollout of vaccine against the coronavirus. we take you back in time with five archival films about vaccines and the fight against disease. sunday at 6:00 eastern on american artifacts, tour you nor families immigrant coped with property and crowded conditions in the 19th and early as 20th centuries. a look at president leadership during the cold war with william hicks kok -- hitchcock. 9:00, a u.s. constitutional debate hosted by the colonial williamsburg foundation featuring a reenactment from founding fathers james madison and george mason on issues from the bill of rights to slavery. watch american history tv, this weekend on c-span3. ♪ today,ier president-elect joe biden introduced economic advisors and nominees to serve in his incoming administration.

testifying before the senate banking committee today, he said he was following the law.e has come under fire for demanding the federal reserve return $429 billion in unused funds from the cares act. covid-19 may have been quietly spreading in the united states weeks earlier than previously thought. a new study identified more than 100 infections in nine states between december 13 and january 17. the samples collected by the american red cross were sent to the cdc for testing to detect if there were antibodies against the virus. the first case was diagnosed in the u.s. on january 19. iran's government says it will and international inspections of its atomic sites and the month if the u.s. does not lift key sanctions. legislators are giving washington a month to comply with their demands. they toughened the original terms of the bill which called for a three-month window after the assassination of a top iranian nuclear scientist last week. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countrie

mnuchin told the senate banking committee that he put forward proposal after proposal the house speaker he is not the negotiator but he is still pushing. >> i do believe we need more fiscal relief. i think there is more relief to be done. i said in my testimony. fortunately the cares act worked and numbers are better than they were two months ago, i would urge congress to pass something quickly to make sure we get something done in the session. >> really did act aggressively. i would just say we've come a long way. the cares act did a tremendous amount of good. we can see maybe a light at the end of the tunnel with the vaccine. we at the fed will keep at it until we're really done. i think some fiscal support now would really help move the economy along as well. reporter: fed chairman calling for more fiscal help. so is a group much nine bipartisan senators released a 908 billion-dollar framework. money for small businesses and employment and payroll protection program, help for airlines. the house speaker has not said she would bring it to the floor. >> we have not had assurances on th

lawmaker spoke, the treasury secretary and federal reserve chairman testified before the senate banking committee. secretary mnunchin encourage congress to pass another bill with $455 billion in unused cares act funds. >> i continue to believe that a targeted fiscal package is the most appropriate response. >> reporter: german powell said low-wage workers have been hit hardest by job loss specifically women, hispanics and african-americans. >> the economic downturn has not been equally on all americans and those these able to share the burden or hardest hit. >> reporter: the fda commissioner was summoned to the white house this morning for a coronavirus faxing briefing. he said the decision for approval will be made by career scientists and it will take all the time they need. ray bogan, katie view fox 2 news. >>> a short time ago use attorney general william barr said that the justice department has not uncovered any widespread voting fraud that would have actually changed the outcome of the presidential election last month. in the meantime, joe biden formally announced today he's key nominees a

back to theake you senate banking committee hearing on the cares act with jay powell and steven mnuchin continuing their testimony. senator john kennedy is questioning them. part of the conversation is about state and local budgets. kennedy: i am asking you, you've been pretty vocal, and i'm not being critical, i appreciate the advice, about the need to pass another coronavirus bill. you think we should allow the states to use the money to shore up their retirement systems? chair powell: i think states provide critical services. some of them had significant hits to revenue. they have laid off more than a million people. they are very big employers. one of the largest employers in the economy. i think it is an area where i think it is worth looking. . kennedy: don't you think before we appropriate more money, we should actually make a decision on empirical data, like how much have we given each state, how much have the state money how much of that they have just sitting there? do you think we ought to approach it as a prose dude is using anecdotal evidence? chair powell: certainly i woul

mike crapo is the head of the senate banking committee. nother top senator, are pushing this hard. we will see how much of a stumbling block this is. rishaad: just looking at the bank of japan, expected to announce more help for businesses hit by the pandemic. that's a big step. they are going to be examining the factors for the inflation targeting, too. the bank of japan is expected to do an extension of its pandemic relief program. limited a somewhat more . a couple important things to know. virus cases rising above 3000 per day, prime minister suga saying he temporarily has to stop the go travel program, one of his programs to stimulate tourism and the travel industry. this is something else that underscores how serious this is. when our team in tokyo did their survey, what they found is two thirds of the people asked said the one thing the boj can do is extend the duration of their pandemic lending program. it is ¥120 trillion that supports corporate bond purchases by the boj, and then there is incentive to banks. they fund the bank's a

powell and steven mnuchin will testify in front of the senate banks committee later today. >>> stillor you, what will the rest of the holidays look like during a global pandemic. how some traditions are being put on hold. that's nec. next. if these beautiful idaho potato recipes are just side dishes, then i'm not a real idaho potato farmer. genuine idaho potatoes not just a side dish anymore. always look for the grown in idaho seal. to stir that fire, university of phoenix is awarding up to one million dollars in scholarships through this month. see what scholarship you qualify for at phoenix.edu. joint pain, swelling, temy psoriasis. see what scholarship you qualify for cosentyx works on all of this. cosentyx can help you look and feel better by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections and lowered ability to fight them may occur. tell your doctor about an infection or symptoms, if your inflammatory bowel disease symptoms develop or worsen, or if you'

he's testifying in front of the senate banking committee.what he said. >> we'll meet with the speaker this afternoon and talk about where we are on the appropriations issue and keeping the government running. that's the first priority, and we'll also mention co-vid issues. >> that's the conversation. we don't know where it will go, but it's a conversation, and it's one millions of americans are desperate for lawmakers to have. nearly 14 million people are set to lose -- we're also learn right now more about the possible framework for another bill from a bipartisan group of law cle lawmakers. garrett haake is on the hill. bring us up to speed on the talks about the chances the framework that these bipartisan group of senators is putting out goes anywhere in the full congress. >> pelosi and mnuchin were major players in the summer and fall. they last spoke about co-vid relief on october 26th. today they'll speak by phone and be focussed on the government funding bill which has to pass in the next two weeks to keep the lights on here. he said t

they told the senate banking committee the risk of overdoing measures is less than the risk of underplayingaid he is talking to president trump and called on congress to pass a bill quickly. president trump hope of overturning the election results as we can as the attorney general says there is no evidence of significant fraud that would change the outcome. bill barr says the doj has not uncovered anything that could mean a different result. he is one of the president's most staunch allies and repeatedly claimed before the election that widespread mail in ballots could mean fraud. says survey from the oecd the global economy will be back to pre-pandemic levels by the end of next year, although it will be an even and risks remain, vaccine progress means the outlook is improving for the first time. global activity will shrink by just over 4%. but rebound at the same rate in 2021. >> our projection for global gdp 2021, 4.2%. it looks vigorous. almostuld still leave smaller atonomies werend of 2021 that they at the end of 2019. juliette: that was your first word news. let's get to market analys

they told the senate banking committee the risk of overdoing measures is less than the risk of underplayingia and said he's talking president trump and called on congress to pass a bill quickly. president trump will host a vaccine summit as his administration ways emergency authorization for new shots. state leaders, military, and scientific gears will attend with the president claiming personal credit, saying he came up with drugs no one expected for five years. -- infections in texas set a new record. a court case in thailand could see the prime minister removed for allegedly breaking the law. the constitutional court will decide later today on claims that he violated ethics rules by continuing to use military housing after he left the army to become a full-time politician. the opposition claims that amounts to an illegal special benefit. worriedays he's not about the ruling. xi jinping has repeated demands of tighter protection of .nternational property rights they said they must improve international control and said china must strengthen ip rules as a crucial matter of national securit

treasury secretary steven mnuchin and federal reserve chair jerome powell testified before the senate banking committee. they will provide an update on measures to provide relief from the downturn triggered by the pandemic. watch live coverage of the hearing tuesday on c-span, on demand at c-span.org, or listen live wherever you are on the c-span radio app. mexico governor michelle an update on holds the coronavirus response, including efforts to monitor restrictions with a color-coded tier system. this briefing is almost two hours. gov. lujan grisham: good afternoon, new mexico. -- to make sure we don't overwhelm our health care system. i hope everybody has a safe thanksgiving -- had a safe thanksgiving. i know that was hard for most of us to accomplish. i'm grateful for every new mexico family and frankly, every family in america that worked diligently to shift how d

senator mike crapo, the head of the senate banking committee, he said it is becoming a redline issue for republicans. pat toomey of pennsylvania, and it.uential gop person, says is a top issue he says the crisis has passed, the feds pandemic programs were meant to be temporary. it is time to stop them. here's what he said today. it is not acceptable for anybody to decide they will circumvent this law, restart these programs entering them into something they were never intended to be. democrats say there is more leeway here. this is not necessary. but now apparently, some republicans are digging in their heels and this is something that will be hammered out as well. shery: tell us more about what then.to be hammered out, kathleen: the hammerkathleen: is still going to have to be pounded that is for sure. assistance, rental assistance for people who face foreclosure, who face eviction. to extendbroadly want the eviction moratorium that has been in place basically since last spring when this whole lockdown started hitting so many people so hard. republicans are saying, may be rental ass

he was testifying before the senate banking committee with the fed chairman. is needed. >> based on recent economic data i believe a targeted fiscal package is the most appropriate federal response, the collective effort, getting people and businesses that constitute the economy across the chasm created by the pandemic getting them safely to the other side to the post-pandemic economy. >> reporter: steve mnuchin will talk to the house speaker about funding the government specifically but the cares act may come up, a lot of support for more help for the american people. neil: as we await to hear from joe biden outlining his economic team whether given the closeness of the senate say it stays under republican control, whether he will have these numbers approved, not all of them need approval but it could be a fight. >> it could be a very big fight in the next congress. we heard senate majority leader and mitch mcconnell want a smaller bill, pushing a $500 billion bill, this is $900 billion. and that can be swallowed by the republicans to come on board with somet

we're seeing the incoming chairman if republican of the senate banking committee who said he is favorabled regulatory change for banking the major banks can finance the sector en that would bring t-- and tha the cost of cop taapital down. >> it's been a mixed year. a lot between different companies as we do continue to see more states legalize and now this push to decriminalize on the federal level. but it seems like that black market has been really sticky and is arguably the biggest competitor to illegal companies such as yours. is the time ever going to come where we see that black market go away? >> that's a great question for us the competition is the black market, the illicit market, the drug dealers that are out there peddling, you know, nonregulated product that is our biggest problem. in fact, one of the concerns that we had with the moore act which got passed in congress which we don't think will get passed in the senate, which ever way the senate goes, is the aspect of decriminalization. now get me right on this we're for reparations and we're for addressing social inequity iss

chairman powell, senate banking committee hearing in may you talked about the negative andover all -- overall economy and fiscal constraints citing evidence from the 2008 financial crisis. it is clear that fiscal solvency of all levels of government is important for economic recovery. can you elaborate on the importance of the health of all levels of government for the health and growth of the overall u.s. economy? chair powell: state and local governments provide, as you suggest, provide critical services, fire, police, sanitation, all those things that people depend on. public safety. and live under a balanced budget requirements in essentially all the states. what happens when costs go up and revenues go down is that they play people off. they played off more than a million people so far. -- they laid off more than a million people so far. that was a big problem in the years after the global financial crisis. we hope it doesn't become a big problem here, but these are critical government services and as i said it's up to congress and the administration, but i think that's an import

he currently serves as a ranking member of the senate banking committee, where he has continued his tireless advocacy for a less predatory and more stable financial system that fills the needs of workers and helps those across the country. i am looking forward to hearing his thoughts on how financial regulators can integrate climate change into their core functions. senator brown, the floor is yours. thank you. it is a pleasure to be here. thank you so much. miss waite, thank you for the understanding of the insight and activism you have exhibited on the intersection of finance and climate and how important that is and how not nearly enough policymakers recognize it, but you obviously do. thanks to my friend, senator brian schatz from hawaii, who is one of the great young leaders in this country on a lot of issues, especially on climate. john podesta, always nice to share a stage, remote or not come with you. getting to speak after governor lael brainard is an honor. i wish a few more people at the federal reserve had the good sense she does about regulation and deregulation and the role of

key testimony from federal reserve achieve jay powell, who will be testifying in front of senate banking committeemnuchin boths far apart on economic outlook unused covid funding we will bring some coming up return to i.c. cruise industry poised to make a comeback after coronavirus we are taking you to one port how they are getting ready, then missing monolith moved to that strange utah structure appearing elsewhere in the world making a buzz this morning "mornings with maria" is live right now. maria: european markets this morning were also a firmen tone ft 100 high of the morning up 117 points, almost 2%, british factories reporting fastest growth in three years purchasing managers' index off to a level 55.6 in november, the cac quarante in paris this morning up 55, the dax in germany, up 118. in asia overnight, green across the board there as well, economic data out of china, the manufacturing pmi rising to a level 54.9 in november, that is the -- best improvement in 10 years, chinese shanghai composite up almost 2%, now some top stories that we are watching this morning, federal reserve chairm

encouraged congress to take action on additional coronavirus relief while testifying before the senate banking committee. secretary mnuchin also faced questions about his recent decision to end several federal reserve emergency loan programs. this hearing is almost 2.5 hours. >> 3, 2, 1. this hearing will now come to order. this hearing will now como order. is in a hybrid format and the hearing room has been configured to maintain the recommended six foot social distancing between senators, witnesses and other individuals in the room necessary to operate the hearing, which we have kept to a minimum. , a those joining remotely few videoconferencing reminders which you should be familiar with at this point. once you start speaking, there will be a slight delay before your display on the screen. to minimize background noise, click the mute button until it is returned to speak or ask questions. issue,e is a technology we will move to the next senator until it is resolved. i remind senators and our witnesses the five-minute clock still applies. those remote should have on your screen one of the boxes labeled

treasury secretary steve mnuchin is testifying before the senate banking committee about the cares actrelief bill. let's listen to what he said moments ago. watch. >> we'll talk about where we are on the appropriations issue, keeping the government running. that's the first priority. we'll also -- >> does the president want to get a deal done by the end of the year? >> he would like to see money for small businesses especially. >> trace: trying to get this going for two or three months. he said possibly by the end of the year there could be a coronavirus relief package at hand. we shall see. sandra. >> sandra: joe biden and vice president elect kamala harris introducing their cabinet picks today. their voices include budget chief nominee neera tanden, emerging as a lightning rod for republicans. peter doocy in wilmington, delaware this morning. what can you tell us about her? might not have a good connection with him right now. we'll get back to him as soon as we reestablish connection. >> trace: is he there? apparently not. let's bring in former arkansas governor mike huckabee, fox ne

. >>> happening as we speak fed chair powell testifying before the senate banking committee on covidd, what is jay powell going to say? reporter: powell and the treasury secretary. this is the quarterly update about the cares act. we'll hear about another covid package. the news comes from treasury secretary steve mnuchin. he is going to say targeting fiscal relief is needed. he points to the economic data coming in, slowing jobs market, growth of jobs. mnuchin will say quote i strongly use congress to use $455 billion of unused funds in the cares act to pass an additional bill with bipartisan support. democratic house members speaking with a louder voice that the house spending is. moderate democrat joining moderate republican senators talking about a relief package on capitol hill. for his part fed chairman jay powell says the job market moderated. he is pointing to the cares act with expanded unemployment benefits the reason household spending did rebound this year. a lot of voices, stu, saying we need a lot more help, a lot looking to the house speaker to get something done. stua

. >>> chair jay clayton testified before the senate banking, housing and urban committee about oversight and talked about digital currency and shareholder protections.

most recently in a banking committee hearing that i'm a member of. the senate must do more to help people not just in my home state, but across the country, especially now as case counts are climbing. we're only months away from being able to give the population at large immunity to this deadly virus. we have to do everything we can to help people get to that time, to ensure that for coming months nevadans can stay in their homes, they can take care of kids, they can keep their businesses running, knowing that they will have an opportunity to open them in the future. and they can protect themselves from this virus. the only way to do that is to get them the relief they need now. that relief simply has to include more money for state, local and tribal governments which had to cut back on critical services in the middle of a pandemic. it should include extended unemployment benefits and pandemic unemployment assistance as well as more loans for our small businesses and for p.p.p. it must have housing assistance to prevent a wave of homelessness and illness, and i

. >>> chair jay clayton testified before the senate banking, housing and urban committee about oversight and talked about digital currency and shareholder protections. >> this hear willing come to order. this hearing is another remote hearing by video, and a few of the video conversationing reminders again. once you start speaking, there will be a they on your screen, so don't be bothered by that. before you are displayed on your screen. to minimize the background noise, i again remind you to click the mute button until it's your turn to speak or ask questions. if there's a technology question, we will move to the next senator until resolved. i remind all senators that the five minute clock still aflies. you should have a box on your screen labeled clock that shows how much time is on your screen labeled clock that shows how much time is remaining. but we have had some troubles, and i have had senators who can't find that box or don't see it. and so, in fact, last hearing one of the senators ask me again to get a reminder, i will do that at this time for everybody. so at 30 seconds left

senator perdue's misconduct. he is sitting on the banking committee trading financial services stocks. he taking the chairmanship of the commitdy that oversees and funds the navy, he oversees contractors and the committee is directing taxpayer dollars to him. >> he is getting classified briefings on covid-19, dumping casino shares, buying stocks in makers of masks and gloves and vaccines and telling the public this thing is no deadlier than the flu, and his excuse all year is that he didn't control his own portfolio. nonsense, federal criminal investigators found that he directed his own stock trades. >> the support for that in the senate will be an interesting challenge since so many senators have done what david perdue has done. they haven't been exposed. your position is it's okay if they own investments in giants funds that are investing in hundreds of thousands or stocks because no individual stocks matter. you are just understanding they are cannot buy and trade individual stocking ws why they in the senate. >> they shouldn't have be able to trade their stocks. they should put th

but even given the information you get at a congressional briefing and a senate briefing and if you're on a banking committeen all have a real impact on your ability to do your job and on your ability to make money. >> now, pema, the perdue moving $1 million is just sort of a piker's ante compared to the amount of money that loeffler has, whose husband is the president of the new york stock exchange, and the two of them made a whole bunch of trades early on. again, people -- just to refresh everyone's memory, the markets tanked before it kind of set into the general public what exactly we were dealing with in terms of, you know, the level of this pandemic. she has been cleared, i guess, insofar as the justice department or senate ethics committee have dropped their investigations. but again, the sort of basic facts here still don't look great politically. >> yeah. politically they're terrible. you know, kelly loeffler and her husband began selling stock immediately after she attended a senator's briefing on the coronavirus on january 24th, and then they also bought some stock. for example, they bought stock