The house Problem Solvers Caucus held a meeting to discuss a proposal to reopen the country after the pandemic. The briefing was held via conference. Of lifedustry by end acid approach, it will not be a one size fits all approach. For our rescuing plans future, all members of the caucus worked so hard on this, i am grateful for everything everyone did. We are all dealing with the coronavirus impacting us in different ways. In the counties that make up my district, we have had more than 1100 deaths affecting families and nursing homes. If i can speak for new jersey, all of our frontline workers and dutch have sacrificed so much. I want to thank our families and businesses for doing the same. Bounds,us knows no which is why this this last week when i accepted the appointment to the White House Task force to reopen the economy, i said i would work closely with allstate officials. I, not see i to to workwhy this back checklist was thought of. We are grateful to live where we live, in the g
President trump and the white just a few months ago, we were talking about labor shortages house down playing efforts on going up thats no longer the case. Another stimulus bill despite urgent pleas for more relief from the states and businesses up 1. 4 on the s p. Are you suggesting that companies have an edge in those Profit Margins not falling further because theyre laying off so many workers . Were going to tualk about that stimulus question if a in a i think they have flexibility moment, but shares of outback and if they did want to cut costs, either being claim clementining on the back of earnings. The ceo joins us to discuss the opportunistic about trying to results and whether customer rs figure out where it makes sense to invest, but when you have a huge pool of underemployed coming back to the restaurants that have already opened and well speak with afi cio people out there, all of a sudden, you dont have to bid up as much for workers as was the case a few months ago. All rig
Faculty member of the Economics Department and the cochair of the mit work of the future attack force that was commissioned a year ago the spring and the purpose of the task force is to engage in confront the sense that many have that the labor market and technology is changing rapidly to understand why people are anxious, to figure out how concerned they should be, what is changing and what is different this time and what can we do to ensure that the coming era of change needs to not productivity growth but some that show up in our focus is on the labor market and how we make the labor market function well for as many workers as possible. Thats where we see the opportunity and the challenge in the lesson if you read the Task Force Report which was released last week, one thing that we s say, i think a critical economic lesson of the 21st century, a wellfunctioning labor market is the foundation for a healthy middleclass in a wellfunctioning political system. Without that foundation of
They are maintaining well above it. 30 years were at 69 basis points last week. 137. Hey are at we are seeing some recovery perhaps in the treasury market, and that is good news. Alix but a lot of criticism has been the fact they didnt address the commercial papers market, exactly where the help is needed the most. What are the steps they can take to address that . Michael they could set up a special Lending Facility to buy directly. That may be coming. Jay powell was asked if there ree actions th coming, and he said we are not ready to announce that. Are there no swap lines for the pboc . Theres a story floating around that once the feds its arthur dollars why have got swap lines with all the Central Banks, but not the chinese . Michael i would suspect probably because the chinese yuan is pegged to the u. S. Dollar. Dont know how much of a dollar problem they have. Theres always a rumor that the chinese are going to sell treasuries that never really comes true. Where we do see problem
I like real businesses real , clients, real revenues, real profits, they have got all of it. The imf predicts growth will rebound in 2020, but the director issues caution. It is shrinking. Ecbs bill blaine as has his insight on challenges ahead. The sector has faced a lot of challenges, but overall domestic demand is significant and continues to be. It is all straight ahead on bloomberg best. Abigail hello and welcome. Im abigail doolittle. This is bloomberg best, your weekly review of analysis and interviews from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. The human cost of the coronavirus continued mounting as the week began, with reported cases nearing 75,000. And as expected more and more , companies are cutting revenue forecasts in light of the outbreak. On monday the warning came from apple. Apple is the latest company to issue a virusrelated guidance miss as the outbreak hits factory output and demand. The company says it has re