Thanks for joining us today. I would like to begin by acknowledging the tragic loss in tremendous hardship that people are experiencing both here in the United States and around the world. The coronavirus outbreak is first and foremost a Public Health crisis and the most important response is coming from those in the front lines in hospitals, emergency services, and care facilities. On behalf of the Federal Reserve, let me express are severe sincere gratitude to those who put themselves in risk. The forceful measures we are taking to control the spread of the virus have brought much of the economy to an abrupt halt. It is worse worth remembering the measures we are taking to combat the virus are an investment in our individual and collective health. We should do everything we can to provide relief to those suffering for the public good. While many standard Economic Statistics have yet to catch up with the reality we are experiencing, it is clear that the effects on the economy are clea
Around the world. The coronavirus outbreak is first and foremost a Public Health crisis and the most important response is coming from those in the front lines in hospitals, emergency services, and care facilities. On behalf of the Federal Reserve, let me express our sincere gratitude to those dedicated individuals who put themselves at risk. The forceful measures that we as a country are taking to control the spread of the virus have brought much of the economy to an abrupt halt. Many businesses have closed, people have been asked to stay home, and basic social interactions are curtailed. People are putting their lives and livelihoods on hold at significant economic, and personal cost. All of us are affected, but the burdens are falling most heavily on those least able to carry them. It is worth remembering the measures we are taking to combat to contain the virus are an investment in our individual and collective health. As a society we should do , everything we can to provide relief
To try to get there first and that sort of thing so im hopeful we will very much try to learn as much as possible from that facility and from all the other ones too we have a lot to learn here. So well certainly be trying to do that. In terms of fiscal concern, so, you know, for many years ive been before the fed i have longtime been an advocate for the need for the United States to return a sustainable path from a fiscal perspective at the federal level. We have not been on such a path for some time, which just means that the debt is growing faster than the economy this is not the time to act on those concerns this is the time to use the great fiscal power of the United States to do what we can to support the economy and try to get through this with as little damage to the longerrun productive capacity the economy has possible the time will come, again, and reasonably soon, i think, where we can think about a longterm way to get our fiscal house in order, and we absolutely need to do
Im hopeful we will very much try to learn as much as possible from that facility and from all the other ones. We have a lot to learn here. We will certainly be trying to do that. In terms of fiscal concerns, for many years, i have been before the fed, i have long time been an advocate for the need for the United States to return to a sustainable path from a fiscal perspective at the federal level. We have not been on such a path for some time which just means the debt is growing faster than the economy. This is not the time to act liz well, you know what, it was going along really, really well and it was making history. That was of course chairman Jerome Powell of the Federal Reserve. This is the very first time we have ever had i guess its considered a zoom Federal Reserve meeting and reporters, of course, were standing by. You saw the chiclet screen there. Here we are. We got it back. Lets dip right back in. But to let that get in the way of us winning this battle really. Edward lawr
Nothing unusual there. Look at how thick it is in the Altamont Pass, livermore, down in san jose. 280 and 17, you can see the fog there in the lights. Just too much moisture hanging in the air this morning. Winds are blowing from the southeast to the northwest. Some of this could creep into more of the bay area heading deeper into the morning commute. Looking south on 680 right into a bank of fog as you head into 24. Temperatures hovering at 60 with mostly cloudy conditions today. Jobina . Good morning. We are starting off with a wide look at our map. The green still looking good as far as the commute times. Also all that fog mike was mentioning, its heavy through the Altamont Pass, san jose and foggy conditions have been reported on the san mateo bridge. There are crews there trying to sort out the details on a crash. Looking at drive times, tracy to dublin, 35 minutes. Antioch to concord, 14minute ride. San rafael to San Francisco, 17 minutes. Moving on, just1. Nimoe there. Elng y cs