the time. mr. davis: reserve. the speaker pro tempore: the gentleman reserves. the gentleman from north carolina is recognized. mr. butterfield: mr. speaker, i yield one minute to the gentlewoman from ohio, the chair of the congressional black caucus, mrs. joyce beatty. the speaker pro tempore: the gentlewoman is recognized. mrs. beatty: thank you, mr. speaker. desperate attempt, hijacking our voting rights, that is exactly what our republican colleagues are doing. and why? because when democrats vote, democrats win, and we provide for our children, our families, and our businesses. i stand here today in support of the freedom to vote: john r. lewis act of 2022 because black people representing the congressional black caucus have been attacked by dogs, have put their lives on the line, crossed the edmund pettus bridge for us to have a right to vote. america, watch what's happening today. watch what our republicans are trying to do -- take away your fundamental right to vote. let us restore our democracy. let's stand up for what four republican presidents in the p

the gentleman from california reserves. the gentleman from illinois reserves. mr. takano: it is my -- mr. bost: it is my honor to yield to a woman who continues to support, with her help we continue to pee serve the sacred test of -- trust of our men and women in uniform and the 200,000 who become veterans each year. of course i'm referring to the speaker of this great house and my my own state, nancy pelosi. the speaker pro tempore: the gentlewoman is recognized. the speaker: thank you for yielding. i thank the gentleman for his leadership in bringing this important legislation to the floor. our veterans, we owe them everything. they make us the home of the brave, the land of the free they protect our democracy. they and their families make us so very, very proud. mr. speaker, and i thank you again, mr. tay yao noah, as chair of the committee, and mr. levin for his leadership on this particular legislation which i will acknowledge in a moment. but first, mr. speaker, i want to say nearly eight decades ago when congress enacted the first g.i. bill, our nation made a

the gentleman from utah reserves. the gentleman from virginia is recognized. mr. scott: thank you, mr. speaker. mr. speaker, i have no further requests for time and i'm prepared to close. so i'll reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from utah is recognized. mr. owens: mr. speaker, i yield two minutes to the gentleman from south carolina, mr. wilson. russell wilson thank you -- mr. wilson: thank you. i fliez support of the supplemental impact aid flex county act. the pandemic has had a traumatic impact on our school systems and the way students are learning. both in and out of the classroom. many parents have made the decision to home school their children due it uncertainty around vaccine and mask mandates in schools. many resources of both local educational agencies are dedicated to fighting the pandemic. it has also become a burden to them to maintain accurate count of federally connected students. i am grateful for the bipartisan leadership today of chairman bobby scott and ranking

-- guidelines and training at the federal reserve. chairman powell: i would be glad. to we made a complete change in the way we govern purchases and sales of securities by covered people which includes all of the policymakers and senior staffers. no one can any longer buy individual stocks. in addition, if you want to sell something that -- so people will be owning mutual funds, mainly, as i already do, when you want to sell something, it has to be outside of blackout as always. you have to give 45 days notice. you make that decision, you have to clear that trade with that sale with a central body. we don't have, because of our federated nature, we don't have a group in the center that applies these rules consistently and clearly across the whole system. we will have that now at the board of governors. you'll say i want to sell x amount of this mutual fund, 45 days later that trade will take place. whether things change or not. there will be no ability to time the market. no appearance of the kind of appearance issues that we have had

what is your take away from what we've heard from from power and the federal reserve here? well, chelsea, i would say what was most surprising. it's how often jerome paul, especially during the press conference repeated that we're almost seeing max employment. so almost full employment here in the united states and that inflation is hotter than the federal reserve firm had expected for quite some time. and so that did sound a bit more aggressive than some market participants. some actually expected. tim, if you look at it overall, i mean the united states is expecting growth of about 4 percent this year in general, that is pretty solid. and so it's crystal clear that in march, if nothing dramatic and happens, we will see the 1st them increase of interest rates followed by a couple of other measures in the remainder of the year when the prospect of the fad turning off the stimulus tops has been causing a lot of volatility on market in the past couple of weeks. what has the reaction been from wall street today? well, it was actually pretty strong reaction. initially before the

the federal reserve works for all americans. we know our decisions manage every person, family, business and community across the country. i am committed to making those decisions with objectivity, integrity and impartiality based on the best available evidence that long-standing tradition of monetary policy independence. that pledge lies at the heart of the fed's admission. it's what we all make my answer the call the public service print and make it here again without reservation. everything we do at the federal reserve is in pursuit of the goal set forth by congress. i'm honored to have worked in service to those ends since i joined the fed in 2012. in this chair for the past four years. thank you, i look forward to your comments. >> thank you chair powell. many working americans are concerned about rising prices pretty think president biden's decision to renominate you to a second term as chair shows he is confident you will continue to lead our economy to this ongoing crisis. in november you indicated the rise of the omicron

the federal reserve that south it's roadmap for ending it's pandemic stimulus. all see with that could mean for the recovery in the us and the rest of the world into volcanic eruption, triggers an oil fil an ocean away. and peru where people now wonder who's going to pay for the damage. and what was the winter wonderland without snow, will take you to colorado where climate change has the resort making her own powder . chelsea delaney welcome to the show. interest rates are on their way up. that's the word from washington where the federal reserve has laid out plans for paring back stimulus to fight surging inflation. prices in the us are increasing out of rates not seen since the early 19 eighties, driven largely by energy and food. and march, the central bank is likely to raise the cost of borrowing for the 1st time and nearly 2 years and wind down an asset purchasing program that could help cool inflation, which is running at a fastest rate in 40 years. now fed chairman drone, powell addressed fears that are rate hike would hurt the job market. i think there i

the speaker pro tempore: the gm reserves. mr. mcgovern: if you vote to no on the prestles question, you get to pass a nonbinding resolution, what a courage ageous thing my friends are doing. some of us raised objections in 2016 pause we were concerned about russians interference in our elections. how many votes do we have? none. have all the people, how much time did it take, less than eight minutes. how many police officers were wounds that day? none. how much were wounded? none. how much property was destroyed that day? none. and compared that to what happened here when many of my colleagues on the other side of the aisle after an attack on this democracy came here with no basis of fact or evidence and voted to nullify the results of a free and fair election in the united states of america. so when people in this country express concerns and people express concern about the future of our democracy, that is what they are and voting rights are under attack in state after state after state. we've seen what state legislatures are do

will do, and next week will be dominated by who the federal reserve will be made above, and cused they are on diversity. romaine: the hearing on tuesday, and thursday will be more consequential than people realize. i think the questions of what we hear from them will be important. bloomberg technology is next. this is bloomberg. ♪ every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities. ♪ >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is "bloomberg technology" with emily chang. ♪ ♪ emily: i am emily chang in san francisco, and this is "bloomberg technolo

the federal reserve worksme for all americans. know our decisions matter to every person, family and business and community across the country am committed to making those decisions with objectivity and integrity and impartiality based on the best available evidence and the long-standing tradition of monetary policy independence that pledge lies. at the heart of the mission and when we all make when we t enter the call to public service. make it here again without force and without reservation spec everything you do it is in pursuit of congress i'm honored to work in service to those events joining thehe fed in 2012 and that chair as the past four years. thankan you. i look forward to your questions. >> thank you. many working americans are concerned about raising prices to be nominate but in november you indicated the rise of the omicron variant 586,000 that is a risk to employment and economic activity. can you say high priceso is related to supplyha and demand imbalances witho the reopening. >> you can trace to development incl

year, which matches the federal reserve board's projections. if you look at consumer expectations, not surprisingly, they're running higher than that, because of where we've been in the last couple of months but can you explain why you're confident at the federal reserve that we can hit that 2.6% target while continuing to push for full employment? >> so that is the median of expectations of individual expectations we don't have a committee or official fed forecast. so -- and it's conditioned on a number of assumptions. the most important assumption here is that we do get significant relief on the supply side that global supply chains loosen up and we get more semiconductors so we can start manufacturing cars again that's essentially -- that's going to be a big part of getting inflation back down. part of it will also be our moving from a very highly accommodative policy to a somewhat less accommodative policy but still accommodative but a lot of it comes on the supply chain side. >> there have been reports of progress in a number of supply chai

after beijing was awarded the games, the reserves borders were amended. the mountains earmarked for downhill events were simply excluded from his own. despite protests from environmentalists addresses that he said, of course, this is hugely problematic as the ski slopes and not just in a nature reserve. they're right in the center of it. so they're subject to the highest level of protection. the olympic village is on the fringes of the reserve, but both locations and not acceptable and eat for trade by the organizers defend their decision describing the games as sustainable. on the side she, we've taken special measures to protect the environment. we've transferred trees and other plants from the ski slopes to other areas. we were denied access to the relocation projects, but geographer, carmen de young fears, they could have long term consequences, like erosion and landslides. think it is wendy. i think these will be the least sustainable games of all time. the snow, the water consumption, c o 2 emissions, lack of respect for nature, reserves, erosion. th

reserve. she's been the representative from the federal reserve bank the federal reserv district. she cares deeply as you indicated in your opening statement about working families. she's ready to roll up her sleeves to take on the challenges our economy basis and i think a prime example that is what a happened during last year of the trump administration when we got hit with covid in the administration responded quicker, we wouldn't be and as deep a hole as we work but she worked with the fed and she and chairman powell worked closely with secretary managing and i think in many ways preventive or what have been an economic catastrophe so i look forward supporting her. i would say to make a friend louisiana that when we were passing unprecedented amountstaf money to put the capitol into americans families pockets, i didn't hear anybody complain aboutmo inflation. $2.2 trillion, 96 on that but the vast majority on both teams said it was the right thing to do. i hope the fed moves aggressively dealing what it can do on monetary policy but i would say, i wish had all been more on the

the almost 500 kilometer link passes through several wildlife reserves from the nairobi national park to that server wildlife reserve outside mombasa. to dias, new yuma is an environmental analyst who studies the effects of major developments throughout the parks. he says the projects have had a serious impact on ecosystems and also on species diversity. for example, in the voice area where by thick the se on several waste. what it has done is to impede the movement of white life between the 2 areas with specific reference to the night will be national park. we are theos tuition, where wildlife is migrating back into kwan community areas. we then engage in human wildlife conflict. but the parks have benefited economically from the railing. the tone of voice as a major stop over for tourists heading to that saw other east and south west national parks. their home to an important remnant population of task is elephants whose tasks touch the ground with thousands of tourists. go on safari here every year. and now with the last year as tourism players were actually very happy to have it.

or a positive account at the federal reserve? that's what bonds sales are for, and that's what the coin could be for as well as peter, i want to come back to you on this because, i mean, obviously this is a broad conversation about the state of debt that we will continue here throughout the half hour but, but the question is what are really been negative? the downside of holding all of this debt because it does seem like there's a lot of given taken this while the dead is a huge problem. it doesn't help capitalism. it interferes with capitalism. because what happens is the government is, is taking resources away from the private sector and diverting them to public spending. and this undermines capitalism. it undermines savings and investment and all the things that we need to grow our standard of living. the problem is much of this that now is being monetized by the central bank. the federal reserve prince money to buy up all this debt. and all that is, is living a massive inflation tax on the economy. and this is only getting sta

the u. s. federal reserve mining and gold related stacks. they also took a hit for the week. unemployment in the nation did drop to 4.2 percent in november, that the lowest rate in 13 years. and it's another red arrow for the all share in south africa. the south africa ran strength against the dollars as investors look for insight into what the south african reserve bank might do with interest rates as it holds. busy its 1st meeting of the year next week, economist pulled by reuters are predicting a $25.00 basis point increase to 4 percent with 4 total hike anticipated this year . now let's go over to rachel with europe and the americans think it's more the same here as we start. 2 in the u. k, where the fuzzy is down, inflation reached 30 your highs in december, heading 5.4 percent, while the bank of england is expected to raise interest rates again next month. there's all comes as a nation is to raise as cap on domestic energy prices by up to 50 percent in april . we'll also implementing a new payroll tax on national insurance contributions

the u. s. federal reserve. we see the crown variant continuing and inflation remains in focus. we started russia, where the mo, x is down by just over 5 percent for the week despite russians. main export in oil hitting 70 or high. the index fell to its lowest level since february of 2021 as geopolitical tensions over ukraine continue. the possibility of economic sanctions from the west are weighing on market something else to keep an eye on. here is russia reporting a new record number of koby cases on friday at the i'm a cranberry is rapidly spreading. moving to asian markets, the shanghai composite is flat for the week, spending most the week, a positive territory before falling nearly one percent on friday. this week, basing made move to lower its key mortgage lending benchmark in an effort to support it flowing economy bring one year loan prime rate up 10 basis points and it's 5 year rate, up to 5 basis points with more increases expected over the months to come in hong kong, we have a green arrow for the hung up just shy of 2 and a half percent that move to cut lending rat

the federal reserve setting the stage for march madness.hair jay powell first saying it may begin raising interest rates in march, but just moments ago backing off, affirming that, saying "we're watching the data" let's go back to the press conference. >> it's just we have to accept that it's not over and the risks to it can slow down growth, and that be , that's sort of a down side risk from a growth standpoint. i would point to another risk is just furer

the market has got a lot priced into the federal reserve. re talking about four hikes when it was two or three, not that long ago. it's a very aggressive profile for the federal serve monetary policy for the next year. we doubt they will be able to follow through with that. it does seem a lot has been priced into u.s. dollar strength. i would balance out against the fact that we are seeing a major withdrawal of global liquidity. the biggest losers in that environment are the emerging-market currencies. but again, we would really stress that a much more differentiated approach to emerging markets is the right way to go as well as watching the asset class. rishaad: always a pleasure, never a chore. let's have a look at this company making headlines, giving the game away, this is after two of its hospitals have been suspended because of treatment delays amid the latest covid outbreak taking place. the company sought share price fall to the lowest since september about a week ago and that was about 6.5%. it seems a bit counterintuitive that you d

i love the fact that the federal reserve bank put this out, right? a white paper saying, let's find out with the public thinks now you're not finding out with the public things. you know what the public thinks, and here's what you know, you know, the crypto currencies are overtaking the u. s. dollar, not in terms of power and might, but in terms of interest in circulation, you know, there's an entire generation and now 2 generations of people who have come along, who much prefer crypto currencies, over the u. s. dollar the only relics that are holding on to the dollar are those who are in power in terms of government positions, the federal reserve bank itself and in the banking institutions that exist. so a christy just said is very important. understand that when there is not it, but when there is a us digital dollar that comes along, the banks will suddenly have to become more like an exchange, as opposed to the banking system that we have today. and the banks don't want that . so what they're going to try to do is car about as best they can ways to

we'll take a look at the performance of global stocks and the toll of inflation flat. better reserve is making moves to expand its presence in the digital currency space later on. and we'll dig into the central makes efforts and how it could impact major crypto currency. and could the gaming secor soon be dominated by crypto currency? we discussed the future of the industry and how pay to earn a games could cement themselves in the community. got it back. so that was that right? it really, the program with the state of global markets is equities continue to trend down as investors prepare for moves from the u. s. federal reserve. we see the i'm a crown variant continuing and in place remains in focus. we start russia, where the mo, x is down by just over 5 percent for the week, despite russia's main export in oil hitting 7 year high. the index fell to its lowest level since february of 2021 as geopolitical tensions over ukraine continue . the possibility of economic sanctions from the west are weighing on market. something else to keep an eye on here is russia reporting a new record

board and i'm rachel lemons in washington coming at us. markets are struggling in the wake of the federal reserve plan to shift force in 2022 straight ahead. will break down the numbers and how global equities are performing. flush the coming year could be a big year for mergers and the media fear will bring you an update on the move, making the biggest weight and the industry. then we're going to take you to the fuel sector where rising prices are slamming european national get natural gas, we'll get to the bottom of what pushing price is up. got a lot to get to go. we leave the program with the state of global markets as investors, where the impact of the i'm a, cranberry inflation, data jobs growth, and when the federal reserve might take action, raise interest rates that remain near 0. now, with all of these factors in mind, equities are trending down. let's start in russia, where the mo, x is flat, but actually is on the green side of that live. rising oil prices push things up mid week before falling into thursday, the russian rouble also fell off them up long high or lowes due to those ris

which matches the federal reserve board's projections. if you look at consumer expectations, not surprisingly, they are running higher than that because of where we have been the last couple of months. can you explain why you are confident that the federal reserve, that we can hit that 2.6% target while continuing to push for full employment? chair powell: that is the median of expectations. we don't have a committee or official fed forecast. in -- it is conditioned on a number of assumptions. the most important assumption is that we do get significant relief on the supply side. that global supply chains loosen up, and we get more semiconductors so we can start manufacturing cars again. that is essentially -- that is going to be a big part of getting inflation back down. part of it will also be our moving from a very highly accommodative policy to a somewhat less accommodative policy, but still accommodative. and a lot of it will come on the supply side. >> and on the supply chain issue, there have been recent reports of progress in a numb

the time. mr. davis: reserve. the speaker pro tempore: the gentleman reserves. the gentleman from north carolina is recognized. mr. butterfield: mr. speaker, i yield one minute to the gentlewoman from ohio, the chair of the congressional black caucus, mrs. joyce beatty. the speaker pro tempore: the gentlewoman is recognized. mrs. beatty: thank you, mr. speaker. desperate attempt, hijacking our voting rights, that is exactly what our republican colleagues are doing. and why? because when democrats vote, democrats win, and we provide for our children, our families, and our businesses. i stand here today in support of the freedom to vote: john r. lewis act of 2022 because black people representing the congressional black caucus have been attacked by dogs, have put their lives on the line, crossed the edmund pettus bridge for us to have a right to vote. america, watch what's happening today. watch what our republicans are trying to do -- take away your fundamental right to vote. let us restore our democracy. let's stand up for what four republican presidents in the p

e is a major gauge used by the federal reserve to determine policy. now, prices have been rising throughout the year, and a record number of people have left their jobs and what is called the great resignation. the labor department also reported that wages for civilian workers increased by 4 percent in 2021. the most symmetric started being tracked back in 2002, that increasing wages is still well below the rise in prices. now despite higher wages and economic expansion last year, consumer spending also felt by more than half a percent in december after gaining the previous month. and it's been a rough week for global market, says we are seeing a lot of red arrows on the board that concerns over rising inflation and central bank action and response. well, it's cause another downward trend. we start in russia where the mo, acts in the wire here. it's actually up to percent for the week despite geopolitical tensions with the west over ukraine. the mo, x are gain of 7 percent on thursday to put it into positive territory. the rubel also strength and again

she's done a great job on the federal reserve. s been the representative from the federal banks' fifth federal reserve district. she cares deeply, as you indicated in your opening statement, about working families. she's ready to roll up her sleeves to take on the challenges that our economy faces. and i think a prime example of that is what happened during the last year of the trump administration, when we got hit with covid, and candidly, if that administration had responded quicker, we might not have been in as deep a hole as we were. she worked with the fed, she and chairman powell worked closely with secretary mnuchin and i think in many ways prevented what would have been an economic catastrophe. so i look very much forward to supporting her. i would say to my good friend from louisiana that when we were passing unprecedented amounts of money to put that capital into american families' pockets, i didn't hear anybody complain about inflation. the first $3 trillion, $2.2 trillion, a hundred to nothing, i think the next was 96,

it's also not the 1st time that the federal reserve is not picture perfect. their estimates we will get the latest reading on consumer price is now on a wednesday end of economists are right. we will see the steepest them increase in those consumer prices in about 40 years. and that's why the federal reserve for these the urge to act by the way, not just with increases of the interest rates, but also with lowering the balance sheet. meaning that pretty soon the fed could even start not just ending the bond buying program, but actually actively start to sell bonds. well again, there's clearly a balancing act here for the fat and every other central bank where they want to really reduce inflation without hampering the economic recovery. we've heard on power talking a lot about the job market, not undermining the job market. but is that really a risk given that unemployment was below 4 percent and december? i mean, the more you increase interest rates, for instance, the more likely it could be that you might start the recession and that could actually put pressur

also talking about the federal reserve right here in the united states. now, right now, the expectation is for the fed. you raise interest rates for the 1st time since 2018 as early as this march. and you then begin to reduce its more than a trillion dollar balance sheet in the months after that, that is all comes as fed officials have spent months saying that it's past time for the central bank to pull back on their easy money policies that were put in place nearly 2 years ago, at the start of the pandemic. now ben will come back to you to start this one. now we know that the bud policies, as we've said, had flooded the economy with cheap money. so what happens when they finally start to pull back and do you see them sticking to this current schedule? so, so my honest belief here is, i don't think the federal pull back, i think they are indicating that they might, i believe i would hope that the fed does actually want to do that. i'm not sure that they do, but i would hope that they do. here's the problem. that the moment the fed decides that they want t

i am committed to the independent and nonpartisan status of the federal reserve. onfirmed, i look forward to supporting chair powell in carrying out the response abilities assigned to the federal reserve and in fostering transparent communication and accountability to you and to the american people more broadly. i will bring a considered and independent voice to our deliberations, drawing on insights from working people, businesses, financial institutions, and communities large and small across the country. before closing, i want to thank my husband kurt, my daughters for their steadfast support of my work, and i would like to commend the outstanding efforts of the many individuals across the federal reserve system who have worked so hard every day to serve the american public. senators, i think you for your consideration, and i look forward to answering your questions. thank you. sen. brown: thank you, dr. brainard. acting director thompson? >> i first want to thank president biden for nominating me to serve as director of the federal housing finance agency. it is