Fed governor saying the fed is likely going to need to shift its Monetary Policy from a policy of stabilization to a policy of accommodation which means helping the economy achieve the level of growth that it has previously. Remaining low until certain Employment Outcomes are hit. A thick fog of uncertainty now surrounds the United States. She goes onto say the Downside Risk dominates the strength will depend on Additional Support along with Monetary Policy. She urges fed emergency facile tills to be as broadly accessible as possible perhaps a concern on her part that maybe some of the current facilities are not. Melissa. Does she sound much more pessimistic compared to other Federal Reserve Board Members . She does sound somewhat more pessimistic but the fed overall has been more pessimistic than the market this continues that concern. The concern about uncertainty that really has been a consistent note from fed chair jay powell but perhaps youre right, shes more pessimistic especiall
Been happening out there. We received word that officials are planning to close down a city jail in the middle of all of this. Well talk about the timing. Back here in the new york area, there are some in business who are now saying that new york city is among the worst places in this environment to do business. Well talk about why. Also talk about, when and how that might change. It is all coming up coast to coast on a wednesday. Edward lawrence starts us off on the aforementioned drug price wars and vaccine developments. Joining us live from washington. Hey, edward . Reporter connell, pfizer says they will have 100 million doses of Coronavirus Vaccine by the end of the year. Now the u. S. Government has a deal to buy all of those doses from pfizer and biontech which they partnered with for that. Federal government will pay 1. 95 billion for all 100 million doses by december. We have five vaccine candidates that prioritize the u. S. People where were going to manufacture vaccine and w
An awesome day i wanted to get with you first so thanks so much. Youre very welcome look forward to talking in the future. David, well see you later. Thanks for that. Good morning welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan and jon fortt coming to you live from separate locations. Interesting price, but not dramatic, another alltime high on the ndx for a second day. S p really about 100 points from going green for the year vix below 25 the 10year yielding 0. 8 very busy morning in terms of critical levels, morgan. Absolutely. I think the headline numbers are milestones you put out there, put night focus in terms of how swift the selloff was and plunged into a bear market and now how swift this rebound, this rally weve seen in recent weeks, has been as well. That being said, there is a lot and i feel like we say this every day, but so much for the market to digest right now, whether the ecb and the Bond Buying Program announced this morning, whether the initial jobl
Tepper and Stanley Druckenmiller both say stocks are overvalued u. S. china tensions flaring again as the fbi warns that chinese hackers are targeting covid19 research firms. We have a big lineup of guests today to help break down this selloff including bill mill miller, david harrah, david ruinstein and Liz Ann Saunders from Charles Schwab. Down 550 points, down 620 moments ago. Weve got full Team Coverage of todays market downturn. Scott wapner, mike santoli, and Steve Liesman with us. That bearish call from apple when asked about Hedge Fund Manager Stanley Druckenmillers assessment that the risk reward in the market is, quote, maybe as bad as ive seen it in my career, heres what he said. Its definitely as of yesterday, now the market is down from yesterday, i would say that, you know, 99 was more overvalued than 2000 but, yeah, i would say its one of the most overvalued markets, maybe second most overvalued i seechb the market is pretty full but theres a lot of liquidity there. Its
And the news for china, sense that the president is cking supplies for huawei [indiscernible] on slot for china. We have the index above 100, and the 10 year yield at 62 basis points. The market except in all of this dire data we are getting this morning. s get to that data now [no audio] michael why that is, unless people just sort of got used to what was happening, and the fact that they have been locked down and couldnt go shopping or Something Like that. That is the only thing i can think of, and maybe the idea that as the weather gets warmer, they are seeing they are feeling a little bit better. I have no good answers for that. For theay, the numbers sentiment are really high, but they didnt do what they said. They didnt go shopping the way they said they would because retail sales were down 16. 4 on the month. That is a new record drop for the month of april. Of course vonnie vonnie vonnie and of course, the data earlier on included retail sales , but that was only temporary as w