Coronavirus briefing with vermont governor phil scott to keep longterm commitment to coverage of the us senate. You can watch the remainder of this briefing on cspan. Org. Senate lawmakers are completing work on the third coronavirus economics to me was plan, final vote on the bill is expected today. Now live coverage of the u. S. Senate on cspan2. The president pro tempore the senate will come to order. The chaplain, dr. Barry black, will lead the senate in prayer. The chaplain let us pray. O god, our father, we lift up our hearts in prayer because we trust in you. Lord, we know well the weakness and the insecurity of our hold upon this life. Comfort those who have lost loved ones during this Global Health crisis. When we wrestle with sad memories of mortal loss, give us all the glorious hope of life eternal. Lord, provide our lawmakers with the confidence that your allsufficient grace and power will enable them to become more than conquerors during this time of trouble. Remind them t
Greetings and sal you take. One simple tweet ladies and gentlemen with one tweet the president of the United States of america laid bare to us all the true nature of the majority of our elected officials and their corporate handlers just 10 minutes from midnight on sunday the 22nd 2020 donald trump the brand name in chief tweeted out in all caps of course we cannot let the cure be worse than the problem itself at the end of the 15 day period we will make a decision as to which way we want to go. Affectively telling the people of this country and the world that he is possibly rejecting the social bits than sitting and stay at home korn to use that every Health Professional and Infectious Disease scientists has told us would save us and our hospitals from total catastrophe. And why why would the president reject these potentially lifesaving recommendations you may ask because its the economy stupid yes like all good tinpot weakling wanna be tough guy leaders trump and a host of others on
You may ask because its the economy stupid yes like all good tinpot weakling wanna be tough guy leaders trump and a host of others on capitol hill and wall d street are suddenly sounding a new call to arms that we must sacrifice our elderly and our own personal hell so that we can save their oso precious economy here is Lieutenant Governor out of texas dan patrick telling fox news as Tucker Carlson that he and other Older Americans are ready to literally fall d d on the coronavirus sword take a listen that we cant lose our whole country we were having an economic collapse im also a Small Businessman i understand it and i talk with Business People all the time tucker and and so just my heart is lifted tonight by what i heard the president say right here basically saying. This disease could take your life but thats not the scariest thing to you there is something that would be worse than dying. Yeah. But dont be fooled my friend those arent the words of a self sacrificing brave man those
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
10 year. Crude now below 30. And not emphasize enough how much pain that will be causing to producers. To get a sense of where we are in the market, if you switch of the board, you can see some of the heavy hitters within the market, like apple and microsoft, down 10 , 11 . Also seeing bank of america off by 16 . The index which tracks the s p is down by almost 10 . Again, a world of hurt within the next two and half hours. We have some breaking news. The boe is pledging further prompt action when needed. No specifics on that, but they are pledging action as needed. We will bring you anything, any information as they come out. They said the dollar move to combat is there. This is governor bailey. Time now for global exchange, where we bring you todays market moving news from all around the world. From new york to washington, brussels and beijing come our bloomberg voices are on the ground with all of this mornings top stories. The Federal Reserve swept into action yesterday, cutting it