As being totally disingenuous. The jd of what happidea of whatt week with the minus 37, theres a couple of Financial Instruments that are wrong they are broken. We dont regard things as broken because it seems almost impossible that something could break. But the future that you see and the actual prices are very different, particularly in the out years. And i think whats going to happen is this has to go to zero again, because we dont have more space i heard the ceo of the largest Tanker Company on friday saying theres no room. Why should this number not go to zero it should go to zero faster than it did last time any chance it will go to zero. Yeah. Any chance that it doesnt because we will begin opening u some of these states thats certainly a hope, but there are times in life where people know that theres an instrument that is faulty. And they can shoot against that instrument and bury these people there is this financial problem that people behind the uso, they are financial peopl
[inaudible conversations] we are going to get started. Thank you. Good morning. The hearing will come to order. I thank everyone for joining us this morning and i want to especially thank my colleagues for joining us today for the House Committee on business hearing the response to covid19. We have had a hard stop act once again. We will move as quickly as we can but should we not be able to accommodate every member in person today, we will be accepting statements for the record until thursday, april 30. This important hearing i want to mention the chairwoman has been in our thoughts and prayers we wish you nothing but the best as you recover. Small businesses and entrepreneurs play a Critical Role within the american economy. Not only do they employ half of the nations workers but created two out of every three new jobs in the nation. You only need to take the poll from main street america. It is demonstrated Small Businesses and employees and the Response Congress created with a Payc
Interview with Michael Oleary is coming. Good morning. Also happy friday. It has been a long week. This is what your markets are doing and a lot of folks about what we heard from a we heard about will we heard from the European Central bank. We continue our earnings outlook. Was tech yesterday companies. This is what i am looking at, dollars up. U. S. Futures are down. Treasuries advancing. If you look at trading, holidays across many major markets. Gdpecb coming out with calls saying it could be it could rebound. Of course, this year that gdp could shrink between 5 and 12 . Year will be next a lot better. We will have the more forecast. Figureseuro area gdp being published. We will delve deeper country by country and give you an update. Lets get to new york city with the first word news. Viviana we begin with the u. S. Federal reserve expanding the scope of its main Street Lending program. Businesses with up to 15,000 employees will be eligible. Expandingl bank is its paycheck protect
Committee on Small Business member states, hearing on response, we had a hard stop, we could move as quickly as we can and could not accommodate every member in person today and we are accepting statements until thursday april 30th. Today is a chance for the committee to hear directly from members of congress about thoughts on the covid19 response for the next package to Small Business issues for the committee of jurisdiction. I would like to remind everyone we are practicing social distancing and taking other precautions for all in attendance. I appreciate your cooperation so that we can protect ourselves and our hardworking staff. Three weeks ago when congress created the Paycheck Protection Program we did so with the goal of providing a lifeline, the program experienced Unprecedented Demand and proven successful, helping more than 1. 6 million entities to support employees. As a result we will be replenishing the Program Later today. While we are moving quickly to provide an additio
Thank you all again for coming back today and for tuning in, and i do know that these daily briefings can get tedious, and the information, much of it, sounds the same, so people may start to tune it out, but i can tell you the situation is changing, it is evolving, and the information we are putting out is important. Just because the social distancing and hygiene guidance and the stay at home order stays in place after day doesnt mean we shouldnt talk about those things because that will be the key to success in trying to get through this Public Health emergency with the fewest amount of cases and certainly the lowest death toll. I want to think the doctor for being with us today. He has been a practicing physician in new orleans for decades although he does not look that old. Officere chief medical officer. Working with the state office of Public Health and it is great to have you here today. He will take some questions. He will have some prepared comments and take questions after i