What we have learned is that three years ago, an engineer warned of major structural damage at the complex. And now there are concerns about the condos Sister Building a block away. Surfsides mayor says residents there should evacuate out of an abundance of caution. Family members wait to hear word of loves ones as rescuers are bringing in dogs to sniff through the debris. Cnns wolf blitzer joins us from surfside. Wolf, the big news today, an engineer warned three years ago that there were major structural problems at this complex. Wolf, what do you see down there on your end of things . What you see when you get here, jim, is so much worse than you can even imagine with the pictures, because you see that rubble, it is so, so heartbreaking, just to wonder what happened and why it happened. Its heartbreaking all around. Very, very sad. And i suspect things are about to get even worse as we watch what happens in the coming hours. Experts are cautioning that it may take months, months to
What we have learned is that three years ago, an engineer warned of major structural damage at the complex. And now there are concerns about the condos Sister Building a block away. Surfsides mayor says residents there should evacuate out of an abundance of caution. Family members wait to hear word of loves ones as rescuers are bringing in dogs to sniff through the debris. Cnns wolf blitzer joins us from surfside. Wolf, the big news today, an engineer warned three years ago that there were major structural problems at this complex. Wolf, what do you see down there on your end of things . What you see when you get here, jim, is so much worse than you can even imagine with the pictures, because you see that rubble, it is so, so heartbreaking, just to wonder what happened and why it happened. Its heartbreaking all around. Very, very sad. And i suspect things are about to get even worse as we watch what happens in the coming hours. Experts are cautioning that it may take months, months to
Of sense for the country, our economy and the future. We have not heard from mitch mcconnell. Thank you so much. Thank you. This is cnn Breaking News. Top of the hour. Im victor blackwell. Thanks for staying with me. We begin with the lifeanddeath race right now in South Florida, the search for survivors more than 13 hours after a Building Collapsed and killed one, injured at least ten. Moments ago the Fire Marshall told cnn rescuers are hearing some voices there in the rubble. Surveillance video captured the moment. This is 1 30 a. M. , surfside, florida, 55 units of a condo pancaked. Floridas governor toured the Disaster Site a short time ago. We thank the fire and rescue for what they did to be able to put themselves on the line to help other folks. Theyre still hard at work. We still have hope to be able to identify additional survivors. County commissioners told cnn that 51 people are unaccounted for. She says its possible they could be on vacation or simply away from their home.
Disaster. Monetary policy works through emulating aggregate demand and that is important now. Ultimately, there is a job to replace lost income. Our congress stepped in and there has not been a faster or stronger response from congress to an economic emergency since the great depression. The cares act and other laws have been passed to more than offset lost income in the aggregate. There will be people for whom that is not true. You see high levels of savings on the Balance Sheets of households. Not experienced the downward cases we were worried about of mass insolvencies of businesses so far. So far, so good, i would say. There are no full recoveries without confidence. Do, which ipart to think we have done. The path forward will be challenging for a number of reasons, and i am sure we will get into some of them. Congresso do more and might need to do more with fiscal policy. The particulars of that are up to congress and not up to us. It is likely more will need to be done in time. O
We got a boost from the bank of england a little early around. We will hear from the governor in just a moment. The cable rate, 1. 31. Keep an eye on the critical lines in the sand as we come through tomorrows session. We are starting to see yields a little bit higher here in europe today. A little bit of stabilization may be in the bond market after yesterdays big move, but a much flatter curve. Lets dive into the bank of england decision to boost its bond buying program. 150 billion, a little bit of a surprise. The market was expected 100 billion to be added to the program. Why the bigger number . That was the question i put to the governor. Gov. Bailey i think that was what we learn from our earlier experiences with covid. It is important that we act both quickly and that we act clearly in scale. That was an important consideration for us. The second thing is that we have to meet the inflation target sustainably over time. So a lot of work we did on our forecasts, employing the pers