To zero. Beautiful day outside. Ill start by discussing the federal reserve. It just happened minutes ago, but it makes me very happy. It makes me very happy and i want to congratulate the federal reserve. For starters, they lowered the federal rate from what it was, from 1 to one point 25 , and 0. 25 . Down to 0 , to so 0 to 0. 25 . Thats a big difference, quite a bit. And in addition, very importantly, the federal reserve, they are going to be purchasing 500 billion of treasuries and 200 billion of mortgagebacked securities, and that number can increase, but they will start with that. Thats really good news. Really great for our country. Something that were very happy, i have to say, im very happy. They did it in one step. They didnt do it in four steps over a long period of time. They did it in one step, and i think people in the market should be very thrilled. Were the strongest country in the world by far, financially and in every other way, and that brings us in line with what ot
The United States is stepping up efforts to combat the spread of the corona virus and its Economic Impacts 2 of its largest cities new york and los angeles have already ordered the shutdown of bars and restaurants and the Federal Reserve bank has stepped in to provide relief for businesses but officials are warning that the worst is yet to come out of there as alan fischer reports. From the president of the United States words aimed at comforting americans relax were doing great it all will pass moments later from the man heading the dr against the virus a starkly different message the worst is yet to head for us it is how we respond to that challenge the number of confirmed cases in the u. S. Is no more than 3000 states are shutting down bars and restaurants curfews are starting to be introduced. Face of america is changing at airports as the extended european travel ban kicks in here the. Staff carrying out Health Screenings have been overwhelmed the governor of illinois blamed a Tru
Breaking news. U. S. Stock market futures are limit down even as the Federal Reserve slashed rates to stave off recession in the face of a global coronavirus threat. Life in america changing rapidly as governments at every level take drastic and unprecedented steps to try to slow the spread of the pandemic. Major retailers including nike and apple, shutting their doors for weeks. Well talk about the fallout for the u. S. Economy it is monday, march 16, 2020 squawk box begins right now. Good morning im becky quick at cnbc headquarters joe kernen and Andrew Ross Sorkin u. S. Equity futures hitting limit down after dropping 5 that means they cant trade any lower this morning those are the curbs set up by the exchanges. You will continue to watch whats happening with the etfs, however, because they are not held to the same restrictions. Can you see the dow etf is down by 9 . The s p etf down by almost 9 . That gives you a better idea of where the major averages would open if we were open h
And those at high risk to isolate themselves at home. We have the capacity to still be productive in this society, but we need to protect those that are most vulnerable to this virus. Newsom said the state is setting up a system to get food to seniors who are home bound. The state has more than 5 million seniors age 65 and higher. California will buy motels and more trailers for Homeless People to get that population out of encampments. Seniors had mixed reactions to governor Gavin Newsoms recommendation to stay home. J. R. Stone spoke to some seniors and distanced himself so some of the sound might be affected. Im not frightened. I have lung issues. Reporter barbara morgan, a senior responding to concerns about the coronavirus. The governor on sunday recommending that seniors 65 and over selfisolate in their home, but barbara is not on the same page. If im going to get it, im going to get it. And im not worried about it. And i dont think i can stay in the house for three or four weeks
Can see the steadier rain tapers as we head through the midmorning and right behind me the showers and the thunderstorms. You can see the more yellows and oranges and reds in this that will come in this afternoon and bring us the chance of grapel and hail and keep the snow level around 28 to 3,000 feet. The earliest commuters coming down 680. Soggy start today with showers and thunderstorms and mountain snow all the way through 7 00. Mike, thank you. Kaiser perman,anteanteanteae driving sites and those who meet the criteria for testing and have a doctors order to be tested. Because these are not open to the public, the locations havent been publicly released. Sonoma county released its second case of community spread. That person was asked to to to t selfquarantine. All campuses starting with online classes with the exception of labs and studio classes. More than 20 School Districts are closing starting today. San francisco unified School Distri district, oakland unified School Distric