The governor of california recommends the elderly should take shelter in their homes. New york city closes its schools. Many states close bars and restaurants. Hourly workers, in dire straits. The economy is grinding to a halt and we dont know how long this massive disruption will last. All right. Heres the financial reaction. This monday morning, stock futures are limit down and when we open an even bigger drop is expected. That may mean a trading halt. Travel and leisure stocks again beaten down. Airline stocks, decimated. Last night, the fed took emergency action, cutting rates to the lowest level since 2008 and pumping 700 billion into the Financial System. Were waiting for a rescue package from congress. Were waiting to see if the administration will put money directly into the hands of affected workers, helicopter money, for example, and into desperate industries. A kind of modern bailout. So whats next . We will find out in 90 minutes. At 10 30 eastern, Vice President pence hold
Hello, i am david asman, this is bulls and bears, thank you for joining us, joining me, steve moore, caroll roth, capri caforio and john burnett, what progress has been made. Reporter trying to hash out what a economic stimulus package would be, could look like. President , to that end up to capitol hill today, had lunch with Senate Republicans to discuss possible options Going Forward, so far president , and the treasury secretary, Steve Mnuchin have talked about following, a payroll tax cut. Potential small be loans, paid leave, deferred tax payment and help for airline, cruise and hotel industry, were told in meeting that president floated idea of bringing down payroll taxes to zero. That would be very both employer and employee. Keep in mind, white house numbers project, over next 12 months, that would be about 1. 2 to 1. 3 trillion in taxes. After the meeting today with Senate Republicans, president tried to provide reassurance. It really working out. A lot of good things are goin
Headed by Vice President pence. The Vice President we just completed the Coronavirus Task force. I couldnt be more proud of the men and women of the efforts standing behind me or those standing behind them. President trump said this would be a whole of government approach and today gives evidence of the fact that it is a whole of america approach. We are bringing the whole resources of the federal government and full resources of this great economy and our great business sethor to bear in protecting the American People and american families. A few updates from today. As we continue to expand testing availability across the country. Testing is available at all state labs. There will be four million more tests made available in jurisdictions around the country. One million are already in place thanks to the good work of our top commercial labs that President Trump brought together yesterday. Lab corps and quest are in the process now of distributing and marketing coronavirus tests all ac
Inflation has been running under our 2 objective for the last five years and continue to do so. And i wont even ask you this question, because its so obvious. Has Economic Growth been too robust i dont it has not been particularly robust, but its been sufficiently robust to create a lot of jobs and drive down the unemployment but every day, every time you come here, youre told that the Interest Rates are too low, but youre also criticized because the Economic Growth has not been robust enough. Now, behind you at the request of the majority is the National Debt clock the majority always comes and tells you that you should shrink your Balance Sheet that you should sell off your assets of course, you, effect, are lending money for longer terms and borrowing money for shorter terms or just printing it, one way or another and you create a tremendous profit for the federal government by having a big Balance Sheet. So people want you to have a small Balance Sheet when your big Balance Sheet i
Overton, president of the joint center for political and economic studies. The donor class through people who are in office and who are running for office are those same people over and over very often, in the state legislatures and the local things and the families and so on, they are the ones who are corrupt. Right. And theyre the ones who are corrupting democracy. And the other people are not getting the benefits of it because theyre not acting collectively to counteract it and havent found a way to counteract it, in all of these years. On sunday, in depth, live with guest steve forbes, author and publisher of forbes magazine. Hell join us to talk about his life and his latest book, reviving america, in which he argues for repealing the Nations Health care law. Other recent tilthsss include money, freedom manifesto, how capitalism will save us and power, ambition and glory. Then join book tv as we take a tour of the Shakespeare Library in washington, d. C. Go to book tv. Org for the