Rips into Silicon Valley and defends the companys government work and no symptoms, no test. Why the cdc is quietly updating its coronavirus testing guidelines normally, jim, i wouldnt start there, but you were just tweeting a moment ago about how important testing is as the number the sevenday average of new tests in this country is the lowest since early july. I just think that the main gap in the system is you hear people say, well, my daughter just got it from college and weve been all trying to test in the family, its five days, we dont know what to do. I think that that halting nature of what to do has gripped this country and has changed it from a country where you go places to a country where you stay at home its a country where you do not travel overseas, its a country where youre frightened over a five and sevenday period endlessly and we live with the tyranny of it. Testing would end it, but its got to be instant. Cant be a lab a lab is a big, big obstacle. Yeah. We will talk
When the time comes, after the crisis has passed, we will put these emergency tools back in the tool box. I would stress that these are lending powers, not spending powers. I will also note that we design our facilities to work for broad ranges of businesses and municipalities. We do not target particular firms or industries. Elected officials make decisions about where to direct such target relief. The cares act and other legislation provide direct help to people, businesses, and communities. This direct support is making a critical difference. Not just in helping families and businesses, but also in limiting long lasting damage to our economy. Public faith in our operations depends on transparency. If the fed were committed to that, particularly in deploying our emergency powers. Thank you. I look forward to our questions. Thank you very much, chairman powell. I now recognize myself for five minutes for questions. As i mentioned in my opening, the pandemic is strengthening and so, to
Power lunch starts right now lets get a check on the markets which are fluttering close to record highs. Slightly higher today well off the lows the dow was down about 100 points early this morning. The s p still just 1 away from record highs as it gains about 5 points take a look at a pair of housing stocks hitting new highs d. R. Horton is at its highest levels since january 2018. The doctor is in we begin this hour with new dovish comments from st. Louis fed president. We know he was the guy who dissented from the last meeting. Now he says a sharker than expected slow down is possible it will determine that on a meeting by meeting basis he does not expect trade uncertainty. Its not going to go away any time soon. In addition to trade, bullard highlights these downside risks, slower growth. That could feed into the u. S. Economy. Second, contraption and global and u. S. Manufacturing and third slowing u. S. Business investment hes worried about the inverted yield curve that suggests
Wall street Global Economy editor Jon Hilsenrath. Great to see you guys. We have a lot coming up. James carafano. Mohamed on the economy and markets, former pennsylvania governor on 2020 race and policy director Peter Navarro joins us talking trade, markets and the fed, dont miss a moment of it, big 3 hours, markets have a firmer tone, mix trading dayiest, we are waiting on crucial speech this morning from Federal Reserve jay powell, the central bank chief addressing commentary policy and future rate cuts, we have Jon Hilsenrath to tell us what youre expecting, jon. Jon itll be hard for powell to go on a limb, theres a lot of Division Within the fed itself. We talk about the pressure that powell is under from President Trump. President trump wants him to cut rates, theres some he is attendance as we reported earlier this week about half of the Regional Bank president s, one eager to move rates down at the last meeting, powell has to set the table carefully. You had exclusive and fantas
And crude is taking a spill as well our road map begins with breaking news as china retaliates announcing those new tariffs on u. S. Goods. Well go live to washington with details. The moment of truth. Jay powell is just an hour away from speaking out. Obviously the big event fed chair powell fed harker does not see a case. I am on hold right now. My forecast is just hold where we are for exact one of the reasons is that. I think we run the risk of creating too much leverage in the economy. My sense was we added accomodation and it was not required in my view. My view with this very low Unemployment Rate with wage rising with the inflation rates staying close to the feds target i think we are in a good place jim bohlullard made his caser lowering rate. Whats the market going to be the next five years. You adjust it for pc market is about 1 or 1. 1 inflation so we are supposed to hit our inflation target thats one reason why i argued that we should get lower well wonder whether powell i