Though still awaits aprooul from the house of rep sentives. That vote expected tomorrow. Jobless claims surging above 3 million americans, far outpacing the record of 700,000 and also well above what economists were looking for around 1. 5 million unemployment claims and the virus itself remains front and center for wall street as italy reports more than 6,000 new cases, the most in five days, the worldwide total now shy of half a Million People wilfred. All of the sectors of the s p higher up 4. 7 . All higher, but one to keep an eye on is energy it has been the best performing. Its now towards the bottom. Still up by 4 oil prices slipped a lot this afternoon. Theyre down 7 , so well hope that doesnt drag the rest of the market lower weve got a huge lineup of gu guesting coming your way, ceo of General Mills, plus peter orszag whether he thinks the stimulus bill is enough to ease the pleading and well speak with the ceo of hertz about their program the give free rentals to new York Ci
Offset those nearterm disruptions. Does not going to be able to go on a cruise. This is a potential supply and demand shock. The supply shock, now and oil price shock. It is difficult for Monetary Policy alone to reassure markets. Monetary policy has to go to zero. Monetary policy is at its limit. It is not sufficient. It is wasting valuable ammunition. Just cutting into it is ineffective. We have much further to go for it to be truly effective. You need massive, not kind of, massive monetary and fiscal stimulus. The monetary response has been there. Focus needs to shift onto a fisc onto fiscal stimulus. Jonathan the key question, what will stop the bleeding . City,g us in new york michael and alexia of invesco. It got real and it got real quickly. Tom extraordinarily day expert and airy day. I disagree to the parallels of 1987. The price changes are there but this is a medical event. We saw the ncaa giveaway on madness. You have all the other news around including mr. Macron becoming
Cspan. Org coronavirus. First, je this morning is congressman mcgovern, the chair of the rules committee, democrat from massachusetts, joining us on the phone about a new report put out examining the options for congress to vote during this covid19 pandemic. Thank you for your time this morning. Guest my pleasure. Host tell us why congress cannot vote remotely as it is right now. Guest we would have to change our rules to do that. If one person objected, we would be forced to have a vote, and everyone would have to come back and cast a vote. If we move forward on anything, any changes, it has to be in a bipartisan way where there is no objection. There is a growing consensus given what is happening in this country, that there are some members who just cant get here. We have to figure out a way to deal with that. One way to deal with that is to try to work and a bipartisan way on the nature of legislation that will need to be dealt with and pass it by unanimous consent where everyone is
And taking every step necessary in order to provide prevent this from spreading. So you can all do your part. But well get through this together. Thank you again. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] [captions Copyright National cable satellite corp. 2020] computer the meeting has been unlocked. Hang up. Computer welcome to the audio conferencing here on cspan were live at the Brady Press Briefing room at the white house. For an update from the White House Coronavirus Response Task force, it should get under way shortly. Were likely to hear the reaction from President Trump on the agreement last night between senate democrats, republicans and the white house on whats expected to be a nearly 2 trillion coronavirus economic stimulus package, which has yet to be released. The legislative language still yet to be released. Elements of that bill include direct Cash Payments to individuals, f
Public Health Threat to the United States of america. Were in the midst of not just a threat in our own country, but a global coronavirus pandemic. More than 173,000 cases nationwide and more than 7300 people have died. What you see today on the floor of the United States senate is exactly the opposite of what were being advised as a nation we need to do. What you see today on the floor of the United States senate are staff people, thank you for being here, protective forces outside the chamber, and others who are invisible to those coming and going that are part of the ordinary business of the United States senate. You see, we did today what the president has told america we should not do, what medical experts have told us we should not do. We have taken unnecessary Airline Flights to come here to washington d. C. I was on the plane this morning from springfield illinois to chicago, there were six passengers on the plane. Most people are listening to the advice of the medical experts