Dire projections and devastation from covid19. Were down five basis points good lineup today well speak exclusively with the cfo of tyson as concerns mount about the safety of Meat Processing plants. Plus, Mike Novogratz will join us on what he makes of Warren Buffetts comments on the airlines and market, plus, well speak with tom steyer about the path forward for america specifically, he sits on californias task force to reopen the economy along with janet yellen and tim cook. Well start with breaking news from the treasury. Kayla has more from washington the Treasury Department says it expects to borrow just shy of 3 trillion in this quarter alone to fund the expenditures outlined in the cares act stimulus and also to off set the individual and Business Task revenue thats not coming this because of that delayed deadline to say this is a record amount is an understatement the last record that the treasury saw for borrowing was the quarter july through september 2008 the height of the
Head. Thank you both for joining us today via zoom. How is it going . Good. Good. Not sure who wants to start. This big announcement is the one californians have been waiting for. The biggest takeaway i got from today was the governor saying, were still in stage one, essential only. We are wakeeks away from stage o when schools, childcare centers, open spaces and nonessential offices can reopen with social distancing. I guess, phil, i will start with you. Whats the reaction in the bay area among mayors and county supervisors . So far, they are actually in the lead on this. They have had more stringnt guidelines than the governors up until this point. They are taking a look at it. It was interesting, what happened was the bay area council, a collection of the biggest employers in the bay area, took a poll of ceos. About 178 of them. They found seven out of ten said they wanted the businesses back to reopen within the next 30 days. That is going to be a challenge for the governor. Yes, i
Listening in washington and around the country and around the world. I am mike ohanlon at the Brookings Institution. We are honored to host mark esper who, after being introduced by my boss, retired general john allen, he will offer remarks on how the covid19 is affecting the armed forces and anything else. I will ask questions and then i will hear from you. If you have not already submitted your welcome to do so. Apologies that we may not get to all questions. Ado, let me hand the body the baton to john allen. Good morning. My name is john allen and i am the president of the Brookings Institution and it is my great pledge to welcome you all to , featuring dr. Mark esper. Esper was sworn in as the 22nd secretary of defense on 2019. 0 323, he served as a secretary of the toy from november 20, 2017 the summer of 2019. He is no stranger to service. He is a 1986 west point graduate and upon graduation he was commissioned in the infantry and that makes at least two infantrymen on this call.
The p. M. I. Well dive deep into this in a bit. Look at the boards. The dollar still holds on to the retreat. That is helping some asian currencies out there. Ere holding on 706. We were near the 100day moving average. Were siegristance now that the dollar seems to be hovering around the twoweek lows despite the fact but were seeing the dollaryen pretty much at 168 but seeing at least six days of gains so far for the japanese currency. Watching oil price. We see it climbs once again. You are seeing w. T. I. Futures. 4 higher for brent crude. Gold snapped out of four dives declines. It is largely unchanged. Hovering around 62 basis points now. We have the First Official gauge for chinas economy in april. Weakened again. Investors are waiting to see what steps the pboc may take to bolster the economy. Our guest from citigroup joins us this morning. What is your assessment of the p. M. I. Data that we got. Nonmanufacturing. Manufacturing below the forecast. Still in expansion territory. A
To watch closely as the succession happens, david . Yeah. Its not unexpected carl it was done in unexpected fashion given so many things that are different right now at t was having its annual meeting and doing it remotely, virtually, and mr. Stephenson announced it during the course of the annual meeting, that as you said, he will be stepping down at the end of june to be replaced by mr. Stankey as ceo mr. Stephenson will remain on as chairman of the company until january of next year stankey will become a member of the board of directors taking the role of ceo. He is president and coo he got that promotion back a number of months but questions in terms of whether he would get the top job and whether the board of directors would support him for that mr. Stephenson made it clear that he was going to leave the company as its leader most likely this year and obviously choosing to move forward with that, despite the Current Crisis his 13 years at the helm of the company, of course, have b