Reporter he did, frank, and he did an unusual thing, he rejected the president s call for dropping Interest Rates below zero, and said he would do other things, such as make loans more available, but he really made a strong point, urging the president and congress to take action. A warning, wednesday from federal chair, Jerome Powell, that we will see a recession. About 40 of those taking less than 40,000 a year have lost a job in march. Reporter powell warned of low productivity, stagnant incomes and bankruptcy. He says the fed will increase lending, but congress and the white house also need to put money into peoples hands. Additional fiscal support could be costly, but worth it if it helps avoid longterm damage and leaves us with a stronger recovery. This trade off is 14 our elected representatives. Reporter powells statement set off along alarm bells. I think it is almost unheard of for federal chairman to be essentially recommending to the president and the congress what they shou
During the Daily Briefing the governor mentioned discussions were being had regarding how the state would reopen and whenever that may occur, again emphasizing where and when it may occur and he did not throw out a specific date. As soon as the News Conference gets underway will take you there live as for the latest statistics in the bay area, Johns Hopkins university reporting there are now more than 23,000 cases in california and at least 680 to people have died and 49 people have died and 4900 reported cases in the bay area with 140 deaths and Santa Clara County the most cases in the bay area with more than 1600 cases and 54 people have died in santa clara and there are 957 cases in San Francisco with 15 deaths, Alameda County has 845 cases with 23 deaths. The San Francisco Health Department cleared out the citys largest homeless shelter after learning was the site of a big coronavirus outbreak. Last week 68 residents and two employees at st. Vincent depauls Multiservice Center sout
Transit and sanitation will continue. So your garbage will be picked up. Police officers will be out there on the front line. Our fire safety officials and others. Also Grocery Stores and pharmacies and banks and gas stations will remain open. An astounding clampdown on life as we know it here in the bay area. Good evening, everyone. Im frank somerville. Im julie haener. The coronavirus is changing everyday life, where we go, if we work, the things we buy, things education, person to person interactions and financial stability. On wall street today stocks took another blow over fears of a recession. The dow plunged more than 12 , nearly 3,000 points, its largest point drop ever. Nasdaq fell 970 and the s p lost 324. Emergency action by the fed to lower Interest Rates and buy treasuries and mortgagebacked securities was not enough to stop the slide. Tonight Governor Newsom went on facebook to announce a number of new measures to help people in california get through this crisis includin
70s going into the inland communities. I will be back with more and now, sal has your traffic. We have slow traffic on the Altamont Pass. On 205 and 580, we will look at the map so you can see the traffic will be slow. We have stop and go traffic before the Altamont Pass and better into livermore with no problems into oakland on 880 or at the bay bridge toll plaza, getting a backup and some of the cash lanes. At 4 31, back to the desk. Firefighters are looking to the cause of an overnight Apartment Fire on the peninsula with flames reported at about 2 30 this morning in a secondstory apartment on visitation avenue in brisbane. Firefighters had the fire out by 4 00 this morning on the red cross is helping those displaced. 4 31 and prosecutors are laying out their case in the trial of a man accused of killing a young woman at an oakland bart station. John lee cowell is accused of stabbing nia wilson to death and seriously injuring her sister. On the platform, two years ago, it happened a
About one mile visibility but a drop in novato and some patchy fog. Be careful if you are headed out with current temperatures showing a few spots in the 30s. Napa, they are dealing with fog and it is tough to warm up with 30s going on and 40s in berkeley and 50 in San Francisco. A quick look at the stormtracker with low clouds and we will see things get sunny and bright today with calm wind and looking pretty good. Looking at the forecast, 60 degrees at the coast and low 70s as we get inland. Talking about the extended forecast, we will talk about that in a bit. For now, over to sal. The commute has traffic moving along okay if you are driving on 80 westbound from crockett to hercules. No major problems on the benicia bridge heading to concord and the commute looks good toward the macarthur maze with a look at the Richmond Bridge having traffic off to a good start. 5 01 and back to the desk. Production is ramping up in San Francisco on the side of matrix 4 with crowds gathering over t