Positive impact on very sicko individual patients. And of course, jim, we had the announcement today that the fed will begin buying individual Corporate Bonds, not just the etfs that hold those bonds but the actual bonds themselves. That certainly helped. Whats your take this morning . Well, look, i think each one of these can be debunked took this drug for two months. It was okay. I switched to prednisone suddenly we discovered this was a big breakthrough what were the doctors doing . Did all of the doctors get it wrong . Did they realize it was not swelling around the body and just focused on the lungs. Its like, okay, idiots honestly, i love the doctors, theyre great. But come on, how did they miss this and look, david, the gunners all want the stocks to go higher, right . And the fed is buying bonds that we would normally i mean, maybe the fed buys hertz bonds and takes them up to the point where maybe hertz is good. I dont know, david. Theres a lot of people saying talk pony. The
Ratings to three additional firms that have significant business in particular sectors. It is three others who were also considered major. We understand that does leave some companies that do not have a rating. As we open these facilities, we are just in the process of opening, we are looking for an answer. An nisro and has not traditionally been used in this way. We are looking at options for what to do. I was like until you i wish i could tell you we had an answer. So you have not opened it yet but you have not foreclosed the possibility of finding a solution for this challenge. Powell we are still looking for a solution, yes. Any timeframe you can put on that . Powell we talked about it yesterday so we are working on it. Soon, i would say. Stress thatnt to there are dozens of companies with very strong Balance Sheets and employee tens of thousands of people across all of our states who for one reason or another choose not to go for a inlic Rating Agency but are many ways in the same
Time those are good too if demand from the treasury doesnt come back in coming months, whats the longer term implication for Interest Rates i know youre reticent to give any forecast on Interest Rates, which i understand, but give us a tone about the impact, the correlation there. There seems to be flying of demand for our paper i wouldnt want to speculate about what Interest Rates might do were the worlds reserve currency and in times of stress people want to own u. S. Treasury obligations and thats been the way that is for a long time. Even if some of the problems as in the last crisis, problems originated here, notwithstanding that we have the strongest, economy, most liquid markets. One last question ill yield my time back. Youve been gracious with your candor and your time i heard a conversation in this hearing about labor. Our state was one of the first ones to reopen one of the inhibiters to supplying the demand that i think is out there and i think were proving that is getting
If demand for that paper does not come back in the coming months, what is the longerterm implication for Interest Rates . I know you are reticent to give any forecast on Interest Rates, which i understand. Give us a tone about the correlation there. Chair powell there seems to be plenty of demand for our paper. I would not want to speculate on what Interest Rates might do. They are the worlds reserve currency, and particularly in times of stress people want to own u. S. Treasury. That is been the way it is for a long time. Even if some of the problems, as in the last crisis, love the problems originated here, people wanted u. S. Treasury, and that is because we have the strongest economy, the best institutions, the most liquid markets. One last question. Youve been very gracious with your candor and your time today. I have heard a conversation in this hearing about labor. I hear all over my state, our state was one of the first ones to reopen. One of the inhibitors to supply and demand
Patagonia, rei and north face. Theyre calling on advertisers to boycott facebook through july for allowing racist, violent and verifiably false content on its platforms. Facebook is taking steps reviewing the policies and commitmented to equality and Racial Justice will this boycott pose a major threat to facebooks futures we always said it doesnt matter unless advertisers start to pull out. Is this the beginning of the trickle becoming a more sizable flow. Its an interesting flow, unless your a part of the free hans solo crowd, some people know what im talking about, i find it fascinating those three Companies Made the list. With that said, i think it is a big deal because its not going to be the end. Its just the beginning. To your point. And weve said when advertisers start to pull away this is the existential risk they face market clearly doesnt clear valuation wise 25 times next years earnings, facebook isnt really that expensive, but this is a exist existential risk in my opinion