Damage the coronavirus crisis, he says, raises those longterm concerns that he was talking about. The u. S. Response to that point he says has been swift and forceful the fed has acted with unprecedented speed and force. He cites a survey that shows in the month of march, 40 of households making less than 40,000 has lost a job carl lets get to the webcast. Here is the fed chair. Its very hard to imagine we could have anyone better than jay powell thank you for coming back to the Peterson Institute, chairman powell thanks very much, adam. Its great to be back. I have some brief remarks and then ill look forward to our discussion the coronavirus has left a devastating human and economic toll in its wake as it has spread around the globe. This is a Worldwide Public Health crisis and Health Care Workers have been the First Responders showing courage, determination and earning our lasting gratitude. So have the legions of other essential workers who put themselves at risk every day on our b
Today, francine. After the three day weekend here in the united states, what i really suggest is the testing of how we get back to normal. The markets decided with futures higher. Francine we will have plenty more on the market shortly, but now lets get straight to bloomberg first word news from new york city. Ritika good morning, in france hasn hong kong, carrie lam defended the sweeping new security laws. She says it is untrue that the legislation would ban street protests. She promised Hong Kong Freedom would be preserved. Prodemocracy groups are planning another major rally tomorrow. President trump is vowing to move the Republican Convention out of North Carolina unless crowds are allowed. Statesa shot at the democratic governor, roy cooper. The president says he wants to be assured that republicans can gather in charlotte in august, whether there are coronavirus outbreaks or not. British Prime Minister Boris Johnson is facing another day of pressure to discipline his top adviser.
North korea, but that is where the mystery starts, doesnt it . Francine it is a mystery. You have conflicting reports. Doctors are saying he is back to work and some in the u. S. Say he is in Critical Condition. There is no clear succession plans and authorities around the world including the u. S. Are trying to figure out who is next in line or do you have some military coup detat taking over . All eyes are what is going on in the oil market, june wti oil to 11. 17 ang 49 barrel. Crude,e plunge in brent 19 a barrel on the global oil price. Right now, 20 1. 81 on brent de, an extraordinary shift 21. 81 on brent crude, and extraordinary shift. Viviana speculation about the health of north koreas leader kim jongun. Inicials getting word he was Critical Condition after cardiovascular surgery. The white house reportedly was told mr. Kim took a turn for the worst. Recent6 and missed holiday celebrations in pyongyang. Issue anump plans to executive order suspending immigration. He tweeted th
Projections for 2021 are also being revised down. And, where it all began. China has lifted travel in wuhan, ending 11 weeks of a lockdown that disrupted the lives of millions of people. Shery happening right now, President Trump speaking at the white house, talk about how he is handling the virus outbreak, saying he will ask congress for an additional 250 billion. Take a listen. Pres. Trump it was a big, important thing. We are looking to have far fewer deaths than originally thought. I think we are heading in that direction, but it is too early to talk about it. I really dont want to talk about it now. Doingk that people are an incredible job. The doctors, the nurses, the firefighters, the police. All medical people, the bravery they are displaying is just incredible. Every citizen should take nd selflessness and all the courage and compassion of our people. The people that are working, and construction workers going into hospitals, knowing nothing about this problem other than it is
Points. Brent really rolling over by about 5 , much worse than wti. It is now a pure demand issue. You see equities taking it on the chin, as well as commodities. Time for todays top market moving news from new york and our london team. We want to begin in the u. S. Come over Senate Democrats blocked Mitch Mcconnells attempt to advance the coronavirus economic rescue package. Minneapolis fed president neel bloomberg the fed can do more to support the economy. We are being more aggressive. Is there more we can do . Yes. Is there more we may end up doing . Yes, but i feel we are being very aggressive. Alix joining me for more is Michael Mckee. Walk us through what he said, what more they can do, and what is going on in d. C. Michael jim bullard is the one who really scared the markets by saying a 30 Unemployment Rate and perhaps a 50 annualized decline in gdp during the Second Quarter. Morgan stanleys is the closest to that 30 , so he thinks things can be much worse. They still say the f