I know youre loathe to lay into fiscal policy but given forecast for Unemployment Rates, do you think its important that congress extend the extra unemployment benefits. I think were trying to keep our comments on fiscal policy at a high level ill come to your specific question let me just say this, this is the biggest economic shock in the u. S. And in the world really in living memory we went from the lowest level of unemployment in 50 years to the highest level in close to 90 years and we did it in two months extraordinary. Appropriately the response there fiscal authorities has been large, forceful, and very quick by the standards of these things roughly 3 trillion congress has authorized, and thats benefiting households, laid off workers, small and medium businesses, hospitals, state and local governments, 14 of gdp, its in a class by itself in terms of both the size and the speed of it. Its also pretty innovative. Both the ppp and Unemployment Insurance are quite innovative in th
Wheeler dam in alabama. Both are still operational and on the National Register of historic places. Watch American History tv tonight and over the weekend on cspan3. Next, White House Domestic Policy Council acting director Brooke Rollins discusses the administrations legislative priors during a Virtual Event in politico playbook coauthors anna palmer and jake sherman. Good morning. Im anna palmer, coauthor of the ploito playbook. Im joined by my colleague and coauthor jake sherman to host a virtual interview with Brooke Rollins to talk about the white houses strategy for the next coronavirus bailout package, her approach to the new roll and what policies she thinks could Gain Momentum before the end of the year. Todays playbook is kicking off a series, inside the recovery which brings you behind the scenes about how they are navigating the new world order and help america correct course ahead of the 2020 president ial election. If you have questions for brooke, send them to ask politi
Look, any way you take it, employment in april was a disaster. We are looking at an Unemployment Rate that is likely approaching 20 . We get those numbers, the unemployment numbers for the whole country, next friday. However, got to tell you the backtowork movement is really gathering steam. States across the nation are modifying their stayathome rules. Businesses are reopening. Oklahoma reopens some businesses tomorrow. California will allow some elective surgery. This, however, is receiving mixed messages. President trump says georgia is reopening too soon. He says he strongly disagrees with georgias decision. However, he will still leave it up to the states. Heres a positive. The Field Hospital built specially for virus patients in houston, texas, may be dismantled, not needed, underused. Lets get to the markets. First im dealing with oil. Look at this. Moving back up again in price. 16. 71 is the production price right now, but production is being scaled back very very sharply. Sup
2. 3 trillion gauntlet against the economic catastrophe caused by the pandemic it was remarkable move coming within seconds of the devastating news that 6. 6 million more people filed for Unemployment Insurance last week the averages were actually able to rally including the down and out stocks dow gaining 286 points s p climbing 1. 54 nasdaq advancing 7. 7 . Without powells extraordinary i was blown away extraordinary announcement, the hideous jobless claims would have pancaked the stock market. Weve gone from the strongest labor market in a half century to one of the weakest in no time flat it didnt matter to wall street because the fed is buying all kinds of distressed debt you dont see i keep saying its so important. Buying municipals. Some of those are hurting. Buy high yield Corporate Bonds thats fabulous news because those were two big pressure points in this rapidly deteriorating economy. What a difference from the old days between the 2. 2 trillion rescue package from congress
Pbs newshour. Major funding for the pbs newshour has been provided by moving our economy for 160 years. Nnbnsf, the engine that cots us. Consumer cellular offers nocontract wireless plans that are designed to help you do more of the things you enjoy. R youre a talker, texte browser, photographer, or a bit of everything, our u. S. Based Customer Service team is here to find a plan that fits you. Learn more, go to consercellular. Tv the john s. And james l. Knht foundation. Fostering informed and engaged communities. More at kf. Org. And with the ongoing support of these institutions and friends of the newshour. This program was made possible by the corporation for public broadcasting. C and tributions to your pbs station from viewers like you. Thank you. Woodruff the coronavirus yndemic has reached a dea new high, just over four months after it began. The worldwide death toll passed 100,000 today. That figure included some 18,000 deaths in the unit states, nearly doubled from a week ago