Declining. We saw a constructive things. Waiting for the eighth or ninth year of expansion is not a perfect strategy. There is an issue of wanting to do as much as we can to avoid exacerbating the longstanding inferences and get back to a Strong Economy or we can start making progress again, which is what we were doing in february. Senator smith as the fed chair and at the fed you have the mission of low unemployment and managing inflation. And this need to spur job growth. We said there is not been a big worry about inflation. What if the fed were to lower its target for employment, even under 3 . What impact might that have on addressing longterm needs for addressing inequality. Changeowell we made a in our operating framework which addresses that directly. We will have an estimate of the natural rate of unemployment. We will not act on that, even if unemployment goes below that, unless we see inflation or some other problematic thing that seems to be late to where our rates are. We
The British Government told businesses today to be ready for big changes when the u. K. Makes its final break from the eu in one month. Opec and its allies need more time to reach a deal on Oil Production policy. A meeting today broke down today without any agreement. Again ministers will try thursday to allow more time to figure out whether to delay a planned increase in output starting in january. Supporters say the market is too fragile to absorb more oil. Global news 24 hours a day, onair, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 2 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. Treasury secretary Steve Mnuchin and jay powell testifying earlier before congress on the cares act. Itsla says the fed will use tools until
I want to thank gary for his to improve rts Economic Development and wish im nothing but the best in a elldeserved retirement. Mr. Speaker, i rise to bring attention to kentuckys avoidable economic failures during this very serious pandemic. Unfortunately covid19 has taken a harsh toll on the economies of all 50 states. However, harmful policies from democratrun states have only made the problem worse. At a time when we should be encouraging the safe reopening of our economy, kentuckys governor recently issued an order shutting down schools and indoor dining. Kentuckys restaurants were already suffering from the last round of shutdowns. And this shortsighted order will only cause more pain and suffering. To make matters worse, our governor is producing no data to justify the need to shut down businesses which have dramatically adjusted to the challenges presented by covid19. And in the end of inperson learning will only create more challenges for students and teachers. Furthermore, it
November alone about one quarter of all us cases since the pandemic began. More than 256,000 people have awesome that died from this virus. The virus is spreading all across the country, including here in the bay area. Local Health Departments now reporting 185 new cases of covid19. Nearly 139,000 cases have been reported in 1900 deaths have been recorded here in the bay area since the start of the pandemic california seeing 14,000 new cases today. The states Positivity Rate over the past 2 weeks has now jumped to more than 5 . With cases skyrocketing all across america tonight, the centers for Disease Control and prevention. Now strongly warning folks not to travel for the holidays. The cdc says the safest way to celebrate thanksgiving is to celebrate at home with the people that you live with yet the tsa says friday and saturday. Where the busiest day since the pandemic brought air travel to a near halt in march and wednesday and sunday are expected to be the busiest travel days of t
Supporters protest the vote counted as his campaign mounts legal challenges in several states also coming up a Record Number of fresh coronavirus cases before to the u. S. Almost 100000 new infections are registered in a single day as some states warmth theyre running out of intensive care for us. Alone terry martin good to have you with us theres still no winner in the u. S. Election but there are some encouraging signs for democratic challenger joe biden the former Vice President has picked up wins in some closely fought states President Trump meanwhile is facing an increasingly difficult path to win reelection hes launched legal challenges aimed to stop vote counting in several tight races a call echoed by his supporters in arizona. Trump supporters have been gathering to protest the ongoing vote counting there that race is neck and neck though several news outlets have reported joe biden has flipped the battleground state truck has made unfounded allegations of voter fraud and on w