Ahead of the Conference Call to the g7, leaders, a lot of focus will be on whether they will step in with coordinated action or words to assuage the markets. Ahead of that, markets are rising. The stock europe 600, 4 and the that saw a lot of losses because of the epicenter in europe still in italy, up today. The dax up. S p futures, gains across the board. A caveat. Yesterday, we saw similar gains and they peter off as the day went on. Today, there is expectation from g7 and that the fed will possibly step in. Lets get to the bloomberg first word news in new york city with Viviana Hurtado. With an update on the coronavirus. Governments around the world preparing for emergency measures to fight the outbreak. Drugmakers hope to have antiviral treatments ready within the month and vaccines by next year. Of cases number worldwide, topping 90,000 but reports suggest over half those people have now recovered or have been released from the hospital. Central bank, it has cut rates and signals
Debate. And this is obviously a law and policy conference. I think well discuss a little more law than we have discussed in other panels and hopefully a little policy as well. So the broad team we picked for this panel, which i think we have detected has been true tore a lot of immigration stuff, since at least this president took over, is that some very important issues have been sort of getting shuttled among three branches of the government. These are you could say these are every each branch of the government is sort of hitting, putting the can in the other persons lap and hoping the can will stop there somewhere. Many of these cans havent stopped. This is our chance to see where the cans are and where they will finally land. So ill begin this by asking questions of our panelists more in a conversational style so we could get to many topics, than sort of one issue only for a long time. So let me start with cecil lia because she represents the aclu which many people regard has been
Hopefully well have well get a good one in that case we have a budget which has been centers of parliament that budget has to be approved by the parliament it could be also to 55. 00 modified plus you need to implement many reforms you know in lebanon we have got upset and we are on one of the most corrupt that country in the earth if you go by that that in spite of the index you feel that absorbed bottom of corruption in lebanon is very difficult to solve however we havent even tried to solve that so it has been increasing lately and when corruption is including people are not at ease and what is going whatever you do to them and you are going to be happy so you need to start fighting corruption or you i dont believe we can really eliminate corruption its not possible but they believe that you can robert it by 20 percent 30 percent maybe 50 percent and this has not been that idea so on the one hand grow always about should implement the reforms which is the requested by is the see the
Third, boy, is it ever in the way even with record numbers after a day with the dow losing 79 and s p advancing and nasdaq gaining, the last two both records. You need to understand that the government has become the one wild card in this market and does reek havoc on all sorts of stocks last fall the fed created its only personal bear market because he told us he might need to raise Interest Rates over shooting to stamp out inflation, which at the time was nonexi nonexiste nonexistent totally out of touch and crushed the market powells rookie mistake almost gave us a recession but came to his senses in january and changed course but we never should have been in that position to begin with thats what keeps happening. We never would have gotten in this mess with janet yellen. She was day to driven and understood the power of her words but even though president trumps tweets are about lower Interest Rates and maybe having some effect, i dont know. Remember what he did he sat janet yellen
Okay, apologies for being late. And let me thank those of you who are here for being here. This afternoon we will be hearing from miss Melinda Young and miss nani colaretti have been nominated to serve as deputy secretary of omb and i want to thank both miss young and miss colaretti for your many yearsof public service. And thank you to your friends and family members who you have brought with youtoday. As we all know the omb is responsible for pairing the president s budget, reviewing federal regulations and providing the proper oversight of agencies. It is a very ulimportant task and i know that both of you are more than capable of leading omb. Since last march, ms. Young has been serving as acting director of omb again, the senate has previously confirmed both of these nominees to highranking positions in the past on strong bipartisan votes. I hope and expect we will do so again in short order. This is our first Budget Committee hearing of 2022. We are facing many challenges as a na