Worldwide, the confirmed cases at 260,000. That is our starting point on this sunday morning. The ap has this headline, the week america changed. How has your life changed over the last week to 10 days and what you expect moving forward . Numbers,the phone 202 7488000 in the eastern and pacific time zones. Central and mountain, 202 7488001. Medical professionals, you can call in on 202 7488002. Send us a tweet or send us a text message at 202 7488002 at 202 7488003. Be sure to tell us your first name and where you are texting from. The number of coronavirus cases continues to increase world wide in the Associated Press has a headline thought would be a good jumping off point of this sunday morning. It has been a week that has changed all of our lives directly or indirectly, one way or the other. The week that america changed, we want to hear from you and tell us how your life has changed. From the ap, there is this that from the Associated Press. Our phone lines are divided regionally
1 you see it there at. 89. An amazing day yes, it is. Thank you so much. Welcome to power lunch. We have all the angles of this historic sell off covered. Bob is watching stocks for us. Rick tracking the historic lows in bond yields all eyes are on the trump administrations response and stooefr steve is on the feds next move. Well start with bob were back at the lows for the day. That 7 level becoming important because of the Circuit Breakers. We had the halt at 9 33 eastern time lets review the Circuit Breakers because they were very important this morning these are long history but only used once. Level one down 7 . We saw that at 9 33. Theres no other halt if were down 7 . Next level is down 13 that would be another 15 minutes until 3 25 p. M. Eastern time and there would be no trading halt at all unless we went to level 3 down 20 that would halt trading for the rest of the day. These Circuit Breakers had a long history this goes back to 1987 remember that 22 drop everybody said we
Risks to the Economic Outlook. The fundamentals of the u. S. Economy remain strong. The Unemployment Rate has been near halfcentury lows for more than a year. The anticipation of job gains have been solid and wages have been rising. These strong labor Market Conditions have underpinned solid household spending, which has been the key driver of Economic Growth over the past year at the time of our fomc meeting in january, prospects for continued Economic Growth remained favorable, and we judged that Monetary Policy was well positioned to support that outlook. Since then, the spread of the coronavirus has brought new challenges and risks the virus has afflicted many communities around the world and our thoughts and prayers kgo out tho those who have been harmed its also disrupted Economic Activity in many countries and has prompted significant movements in Financial Markets the virus and the measures that are being take on the contain it will surely weigh on Economic Activity both here a
noise the committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their
noise the committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their