Government stimulus program. We stay at work. For you. You stay at home for us. Jerome powell believes the of t for the weekend which is good news but still some rain around the santa clara valley. The ever persistent pesky low on Southern California does not just know were all with you. Want to go but it is showing under control the businesses will reopen and people come back to work. Thank you, thank you so much. There is every reason to believe the economic rebound when it comes can be robust. Thank you doctors nurses. Signs of moving. A little warmer the next week and a little overcast with the Senate Democrats blocked afternoon sunshine and bumping a republican bill to add an up the highs a little and on monday we had a lot of 50s but now we are all 50s. San jose is 56 and the line additional hundred 50 billion in relief for Small Businesses stretches across nevada and the and Democratic Leaders say any valley and about san jose south bill providing money for small towards watsonv
The Federal Reserve announcing another program that primary dealer Credit Facility this is one of the biggest programs the Federal Reserve has yet to do. It is call the kitchen sink of lending programs it provides shortterm, overnight, and term funding up to 90 days for a broad range of assets i can tell you the kinds of assets that now primary dealers can bring to the fed to get funding. Investment grade corporate debt, securities, commercial paper, municipal securities, mortgagebacked securities, assetbacked securities, even Equity Securities excludeing etf. Bring us your poor, tired, hungry, weak the fed is saying bring us your paper, well, obviously, give it a haircut but well also lend it overnight. So now the fed, implementing almost all, still a few left of the financial crisis era programs from the Great Recession that had in place today. It put in place the commercial paper facility and has really long Quantitative Easing Program and bringing rates down to zero. What is left i
And Central California counties will lose power sometime today according to pg e. In the bay area Sonoma County will be hit the hardest with more than 28,000 pg e customers losing power starting around 3 pm. And napa county about 7500 will lose power and and San Mateo County more than 900 customers will lose power. Thats about double what pg e projected earlier however that outage is not expected to happen until Early Morning hours tomorrow. Lets talk about the weather conditions. Mark tamayo is monitoring a red flag warning. The red flag warning just kicked in for the north bay at 12 00. Its been in place and will be in place for the rest of today and into thursday. This will not be a strong, not as strong as the wind event we had two weeks ago but in the north and east bay lls we get high wind a 3040. The Santa Cruz Mountains around 35 Miles Per Hour and closer to sea level we could have wind around 2535 Miles Per Hour. The red flag warning come all the areas in red, that is in place
David a little spat. Well, President Trump also adding he doesnt need to reach a deal with china before the 2020 election. All these comments prompting the china trade delegation to announce it is now cancelling a planned trip to visit montana farmers. Thats next week. Now, that sent the markets tumbling. Check out the dow at about 1 13 p. M. Eastern time, just when the china news hit the wires. Markets dropping like a stone. The dow losing more than 200 points at that point. It recovered a little bit at the end of the day, but not much. Joining us now is usda trade advisor. Tom, you represent farmers. And we see what happened as soon as the president made his announcement. They said they are going to stop their delegation to the Farm Community in montana. Are the two things related in your mind . I think its great speculation all around the world as to why they did what they did. David what do you think . Look, i talked to mr. Forbes in the hallway on my way. Im a long time fan of his
Growth, trade uncertainty, lower inflation. A number of participant thought it would better align the feds benchmark Interest Rate with socalled neutral rate, the rate that neither spurs nor slows growth. Several members want to the maintain rates. Not cut rates last seening. They thought the economy was in fine shape and they wanted to save firepower for when the economy actually deteriorates. There were a couple who wanted a 50 basis point rate cut. We know one of those was st. Louis fed president bullard. Going forward, more concerns about risks to the outlook in terms of trade uncertainty, slowing global growth. They are looking at protests in hong kong. They see a significant probability for a nodeal brexit. They see what is going on in the middle east, how that could impact the outlook for the economy domestically. Several members also discussed the job market. They do still see the job market as strong. However they are looking at weakness in manufacturing and business investmen