Achieve strong Sustainable Growth and safeguard against downside risks. The group offered no specific actions to combat the virus. How disappointing was that look, i think this is the same problem, central bankers are dealing with a biological problem that is then going to spill over to economics, probably means fiscal help what are we talking about here lets talk about restaurant closing, malls closing how about the people who work at the places, thinly capitalized companies that are supposed to pay these people Steve Liesman i worked with him this morning, excellent drop in there, par suited into their office one point the Federal Reserve was saying well stand back behind people whose insurance for instance isnt paid off for a hurricane. I think that its up to treasury and incumbent upon treasury to say were going to work with Small Business, if you have a problem, you can come to us, because thats where the real pain is going to be. We dont want the only retailer to be walmart when
A i will tell you so much to get to so lets get started. Ahead of the World Economic forum in davos today the i. M. F. Has tremendous Economic Forecast for 2020 from 3. 4 percent to 3. 3 the downgrade was issued on the back of weak data at the end of 29000. 00 led by india slowing growth and credit squeeze this is the i. M. F. 6 straight reduction though its cautiously optimistic that Global Growth may be stabilizing at subdued levels Manufacturing Activity and global trade have bottomed out but the im not warned that the Global Outlook remains on the downside additional risks include rising geopolitical tensions between us and iran and higher Tariff Barriers between us and its trading partners most notably china mark conflict is a rising between france and the u. S. Over the new french general attacks targeting Big Tech Companies and this poses a big risk if it is not resolved davos as italy the u. K. Turkey and other e. U. Countries are likely to follow frances lead. The i. M. F. Upg
Something tuesday into wednesday but Southern California looks okay. We have another round of offshore wind and that will develop late tuesday and early wednesday and we could get some developing. Today, it is all about sunshine and warm temperatures. We are looking for temperatures to be anywhere from 74 to 78. We should be 63 in livermore, 78, near 80 for some around gilroy and santa cruz. We are looking at the commute because of this crash on eastbound 80 and it is a deadly crash on 80 eastbound coming up on the alban hills. The two left lanes are closed and you can see the tow truck has just arrived on scene they are waiting for more to get up here. I want to mention it looks like they are moving the camera. Kevin is very responsive. This is the backup on 80 w. eastbound coming up to the scene you can see how slow it is. Eastbound up towards that scene, give yourself extra time if you are driving westbound, this is going to affect you and also affect you coming away from the richma
Downgrading most advanced economies. You can see right there, these numbers 3 for the world, 2. 4 for the u. S. , 1. 2 for your area, 6. 1 for china. These are all down you see there from the prior forecast and also mostly except for japan down from last year. The imf saying in its report, Downside Risks elevated. Brexit related risk to hinder confidence and growth. Theyre down on this trade issue. Very quickly, they do see something of a moderation next here in 2020 we go back up to 3. 4 it isnt the advanced economies this get there theyre looking for a turn around in emerging markets and developing countries four things the imf notes needs to be done theyre saying International Response may be needed if things get worse from here. They say Monetary Policy cannot do it all. There is a financial risk created from low Interest Rates there. Fiscal measures to help with the slowdown along with structural reforms. Carl that is big news, steve were going to dissect a lot of that with the ea
No on the latest growth figures we just cited some of those for china on the Global Forecast 429000 the i. M. F. Forecast is now at 3 percent that would be the lowest level in that figure since 2008 and that highlights a necessity perhaps from market policymakers to strengthen domestic financial vulnerabilities pose risks to growth in the medium term what domestic vulnerabilities do you think policymakers at the i. M. F. Are steering national pauli make and policy makers toward addressing. Well you know theres no i dont put a lot of credence into the i. M. F. To begin with i mean going back to Christine Lagarde i mean they really dont have an understanding or who have even how the Business Model works so i really put very little into what they say and if you want to tell you that chinas numbers chinas numbers ive never been we can never prove it to shine numbers are accurate either so between the 2 of them i really dont even pay virtually no attention nor do markets as you can see that