Coverage. Blake burman with the latest from the white house, Lauren Simonetti is watching the markets and Edward Lawrence is in washington. Lets kick it off with edward. Reporter exactly. Chairman Jerome Powell, Federal Reserve keeping Interest Rates where they are foreseeable future. Federal reserve chairman Jerome Powell said the coronavirus had Significant Impact on Economic Activity, employment and inflation, further lowering expectations. The Federal Reserve chairman believes well see doubledigit unemployment when the next Unemployment Rate comes out. He backed off saying there would be a robust Third Quarter going farther, saying some uncertainty around when the crone cron treatment will be available is when in fact the economy will start to pick up again. But he would not say if the announcement after treatment or a vaccine changes anything that the fed is doing. Also Federal Reserve open Market Committee statement saying that the fed will keep rates where they are until they ar
What companies to watch . The roundtable looks a little different this week in order to be safe. We are staying away from each other but we are all here. Joining me from afar ben levisohn, carleton english, and jack hough. We are running out of negative superlatives to describe was going on the market right now. Set aside the human toll which is hard to fathom, walking through manhattan and seeing all the store closed. Markets alone, s p 500 closed down 17 on the week even worse than last weeks horrible performance. What you look at question work. We are just try to find a bottom here. Look like we mightve had when earlier this week but did not hold. Gerry 2350 was whatever but is watching. Smack that was not too far below that but we are now seeing what is the next level down . Wheres the marketing to try to find support . There are some things out there that are slightly optimistic. For one, its been hitting highs in most every day vicks is a measure of volatility in the market. Its
A far better measure is the ten Million People who filed for jobless benefits in the last two weeks. Fed governor lockhart just told maria the jobless rate is already more like 10 . Clearly, we are in an employment crisis, and another report that comes up at 10 00 eastern will likely show the Services Sector in collapse. Thats a strong word to use but its accurate. Later this hour, we are going to talk to larry kudlow, the president s chief economic adviser. I will ask him how bad is it and he will spell it out. Look, with nearly 300 million americans under a stayathome order, the economy is shut down. Morgan stanley says that between now and june, the economy will shrink by 38 . That would be a depression, the likes of which we have not seen before. Travel, shut down. At the airport tsa checkpoints, they are processing two million fewer passengers every day. Thats down 93 from a year ago. Those flights that do take off, virtually empty. Public transit ridership, down 75 . Commuters ju
What companies to watch . The roundtable looks a little different this week in order to be safe. We are staying away from each other but we are all here. Joining me from afar ben levisohn, carleton english, and jack hough. We are running out of negative superlatives to describe was going on the market right now. Set aside the human toll which is hard to fathom, walking through manhattan and seeing all the store closed. Markets alone, s p 500 closed down 17 on the week even worse than last weeks horrible performance. What you look at question work. We are just try to find a bottom here. Look like we mightve had when earlier this week but did not hold. Gerry 2350 was whatever but is watching. Smack that was not too far below that but we are now seeing what is the next level down . Wheres the marketing to try to find support . There are some things out there that are slightly optimistic. For one, its been hitting highs in most every day vicks is a measure of volatility in the market. Its
Performance for the dow and the s p since the great depression. We have fox Business Team coverage. Blake burman with the latest, with the president. Lauren simonetti watching the markets. Edward lawrence is live in d. C. Lawrence, lets kick it off with you . I have to say good riddance to the month of march and it was really awful. Let me tell you how awful it was, the worst month for talks since the 2018 financial crisis. If were talking, dow lost, nasdaq lost more than 900 points this month. Not one dow winner in the entire month of march. In fact four march, worst one for the dow and s p 500 since, ready for this, the great dedepression. Does it get any better for the First Quarter . Not really, the dow down 23 in the First Quarter of the year. S p down 19 . Nasdaq down 12 . We had a winner in the quarter, just one. Out of 30 dow stocks it, was microsoft up barely but in the green. The worst stock for the month, for the quarter on the dow was boeing. This is a stock that saw 330, t