That broadly speaking if we dont get that, there would certainly be Downside Risks certainly through the channel i mentioned. Thank you cnn. Thanks for taking my question chairman powell, give us an update to the policy framework and repeated calls for this and this event, is the fed open to other parts of the economy such as income inequality and Affordable Housing we monitor everything we think is important in the u. S. Economy. In a broad sense, all of it goes into thinking about Monetary Policy you mentioned inequality so disparities in income and Financial Wellbeing demographic and racial categories, something we monitor carefully, inequality, which i would point to its a multifaceted thing, stagnation of nat the lower end of the income and lower mobility those are things that hold back our economy. They are the thing is we dont really have the tools to address those. We have Interest Rates and Bank Supervision and Financial Stability policy and things like that, but we cant get a
If you are recently unemployed, 202 7488002. We begin with the numbers, courtesy of Johns Hopkins university. 1. 9 million confirmed cases. The death toll around the globe, 125,000. In the u. S. , 600,000 confirmed cases. The death toll has now exceeded 25,000. This is a piece from the wall street journal that is focused on the pandemic. The headline is, Coronavirus Crisis legacy mountains of debt. He writes the following. The full impact of the coronavirus pandemic may take years to play out. One outcome is already clear. , andnment, business households will be loaded with mountains of Additional Debt. The federal government budget deficit will reach 3. 6 trillion in this fiscal year. 2. 4 trillion the year after that. Businesses are drawing down Bank Credit Lines. Preliminary signs are emerging that some households are turning to credit for funds. The debt surge is set to shape how governments and the private sector function long after this virus is tamed. He joins us from his home i
Taken since yesterdays 3,000 point drop jim, you have never been a huge fan of futures, but you think they are especially irrelevant now. Right these are fraught. I got up three, the market looked great it was up like looked like we would make up half of what we lost yesterday i come back, were down. Lets stay focused on individual stocks individual stocks are all being brought down by the indices. The great opportunities, i want to use that word, come from the obliteration of the futures, mean while there are companies who are doing well theres companies doing quite poorly well go over both there will be opportunities today. Theres a lot of give up yeah. I want to get i have a lot of specific questions for you i know you have regeneron tonight. Signs of hope, whether its test kits from roche, therapeutics, you heard gottlieb a moment ago talking about it those three things, test, therapeutics, vaccines we are starting to see very early signs of progress. Absolutely. You look at tesla.
A gut punch for the tech sector. Apple is the latest to pull the inperson events. Its worldwide conference will and a red online only ashless society fear of the virus via the greenback. Well talk to the cofounder of square. Take a eantime, let us look at how wall street ended, this wild week. I have no words. Erased all of the losses that we had on yesterday, look at this, s p having its 20008 and tech really one of the big outperformers here followed by as you can see, 13 basis points. At one point it was above 1 96 basis about points. South of the border with volatility this week, it was all at one point, we had a 75 on the vix, coming down to 57. And crude, a supply and demand in there above 30 a barrel. That means a bloomberg commodity made up of a lot of energy, you are getting the weakest levels you have seen 2016. Since it is all about king dollar, the safe haven bids investors rushed and the bloomberg dollar index now the strongest in almost three years. That we sawet moves th