One from scratch. A few of us expected that his successors would need to refer to it so soon but generally for all of us he left a copy for jay powell that i would recommend for people on this call if theyre interested. Theres a good book called firefighting which is a summary of the crisis and one called First Responders which gives deep into the individual programs and i recommend everyone have a look at it over the next couple of weeks. And among other things its a distinguished economic historian suited to put this horrible event that we are experiencing in context so it will give us a sense today of what will determine how deep this recession will be, perhaps how long it will last , how effective the fiscal and Monetary Policy response has been and perhaps whether the covid19 recession will leave longlasting scars on the us and Global Economy so ill turn this over to ben or his remarks after which david wessel will pose some questions and after that i think there will be some inst
The nasdaq down by 25 points this morning, youll see futures are lower again. These are modest declines. The types of numbers we used to see all the time in the morning just over a month ago. Right now, the dow looks like it would open about 42 points nasdaq around 18 points. Keeping track of treasury yields we find ourselves this morning again with the yield indicated around those levels. 0. 7 and change andrew lets bring you an update on the pandemic and some of the numbers. The number of confirmed u. S. Cases rising to 400,000. More than 12,000 have died in america. New york is the epicenter with 140,000 confirmed cases. New york, new jersey and l. A. Reporting the deadliest day. And los angeles mandates masks as essential sharing this responsibility to keep workers and everybody safe which is why we are requiring customers to wear face coverings. Shopping for groceries, picking up a precipitation or any other business, you will need to cover your face. If you are not covering your
[indiscernible] pres. Trump thank you very much. I just had a great conversation with the leading faith leaders of our country. It went extremely well. I learned a lot. We are working on things that are very interesting and very positive. I thank them for being on the call. Yesterday we unveiled detailed guidelines for governors to initiate us a safe, gradual reopening of america. The guidelines provide governors with the factdriven and sciencebased metrics they need to make decisions that are right for their own particular state. To view the guidelines you can go to the website atwhitehou se. Gov openingamerica. The treasury sent out Economic Relief payments to more than 80 haveon americans who direct deposit information on file with the irs. An incredible success it has been. If you have not received your v, getplease visit irs. Go my payment. That way the irs can get you your payment within days. They have done a fantastic job. You will not have to wait for a check in the mail. I ha
Keep up the great work. You too. Coming up, Cynthia Erivo is going to perform live. Well be right back. Learnethe government is e naon re trowing afy. Deere to dock. Breaking new developments for those two cruise ships stranded at sea with more than 200 sick passengers on board now off the coast of florida. Breaking overnight, the mayor of los angeles now urges everyone to wear Face Coverings in public as the cdc weighs making a new recommendation nationwide. How to make your own, to avoid taking supplies away from those who need them most. As families all across the country face this disease, the emergency hitting close to home. Georges wife ali announcing shes tested positive. So what started was i had a real tightness in my chest. The latest on alis condition this morning and her message to the gma family. Good morning, america. Its great to have you with us on this thursday morning. We have a lot of headlines to get to including one thats affecting the gma family. And, george, we a
Say, someone who believed that things may not bottom. And i think hes switched. He may say its not in dramatic fashion because its near the middle of his piece, not at the top. I do believe what were seeing is a gigantic amount of liquidity put in by the fed, when it looked like things might go back down that mattered a lot. A lot of companies that dont have great credit are getting money. Thats important we saw the retailers go up last week it wasnt because retail sales were good, but because their credit was so bad, maybe they get a chance to raise money. Ge raising money a lot of companies are raising money that would not be able to raise money. That is going to be a major change to keep a lot of companies out of bankruptcy and in the same way that the oil deal might Keep Companies out of bankruptcy david, you know theres so much debt being issued now. And theres some opportunities for people who want to buy debt, but holy cow, is the government wide open to buying anything on thurs