Already been layoffs at Hotels Across the country. We are starting to see some at restaurants and bakeries. Anything having to do with travel and leisure and hospitality is on the front lines of this. The big fear is it is going to start cascading over. The other thing that makes this particular week unique in addition to the coronavirus, we have seen energy take a nosedive. A bunch of Energy Companies lost half of their value this week. It is just an astounding drop. There is a big concern that the Energy Sector now that oil prices are so low, it is cheap gas, but we have 200,000 people in this country working in that industry. Some of those jobs are going to disappear. Host we have heard a lot of talk this week about a possible recession, about this country sliding into a recession. I want you to define for us what a recession is and then tell us are we headed into one . Guest a recession in economic terms is six months of negative growth. The economy is literally shrinking. The deba
Is impacting thhealth, onomy and society in unprecedented ways. Today President Trump declared a National Emergency to access up to 50 billion in eldisasterf to help combat e spread of the coronavirus. And the World Health Organization declared the coronavirus a pandemic. More than 130,000 people have untries, and hospitals st 130 co grapple with short blg of masks and testing kits. Theyre on a surge of trying to contain new cases. Thursday, thcalifornia of department of health said gatherings ofle200 peop or more should be postponed or canceled until e end of march. Joining me is the officer for the Public Health department and laura. Welcome to you both and what are the main takeaways that ifrgo President Trumps National Emergency declaration today was this ideae of early week we could have half a million more testing kits going out arou the country. We have 330 Million People in the u. S. So doctor, starting with you, do you think thats going to make a difference . I think it will h
We have heard a lot of talk this week about a possible recession, about this company sliding into recession. Define for us what a recession is, and tell us if we are headed into one. Recession in economic terms is six months of negative growth, so the economy is literally shrinking. We goingebate is, are to see that right now . Usually you have to see shrinking growth and substantial job losses. So you need those two things, neither of which are fun or pretty. Week the starting this u. S. Economy literally shut down. For the past three days, i have been in my house. I havent gone out for lunch. I havent been going to the gym. I havent been doing my daily routine. And when you multiply that across the country, it is an immediate shutdown of every sector pretty much but healthcare and grocery stores, for now. [laughter] if they can keep those shelves stocked. So definitely march is going to be negative, definitely april, probably may. The question is, when do we rebound . I would argue y
The speaker the house will be in order. The prayer will be offered by our chaplain, father conroy. Chaplain conroy let us pray. Eternal father, thank you for giving us another day. The house is eptering a two week recess, many members will be returning to their districts to meet with constituents. We know that work will be getting done behind the overt political scene. While important and significant issues are being addressed, may all members be imbued with the wisdom of solomon, the patience of job, and proceed like nathaniel who was a man without guile. In all, let there be more light than heat. May all that is done be for your greater honor and glory. Men. The speaker the chair has examined the journal of the last days proceedings and announces to the house her pproval thereof. Pursuant to clause 1 of rule 1, the journal stands approved. For what purpose does the the gentlewoman from california seek recognition . Thank you, madam speaker. Pursuant to clause 1 of rule 1, i demand a
U. S. China trade relationship. President trump referred to the verbal agreements of the two country negotiators as a deal today. The chinese were more constrained. The chinese are calling this a pause in at what at best has been a trade dispute, and at times a hostile conflict between the two countries. The rall the markets rally on the hope this will lead to an agreement. The Dow Jones Industrials down 200 points from its session highs. And for the latest we turn to chief white house correspondent, john roberts. Nearly six months ago the u. S. And china appeared to be close to a trade deal when china backed out. After crippling tariffs, china does appear to have changed its mind. In the oval office, President Trump announced months of trade negotiations have made progress. We have come to a substantial phase one deal. We have come to a deal on intellectual property, financial services, a tremendous deal for the farmers, a purchase of 40 to 50 billion worth of agricultural products. R