Any precipitous policy, at least not at the present time. How much more shock can this market take before theres longterm effects on the economy . What do you think . Look, the market the markets had a shortrun correction, and i guess its 10 or 11 or something. Weve been through this many, many times before. And i dont think even though its frontpage story and nobody likes to see their asset values go down, i just dont think at this point its going to have much of an impact. I will qualify that, depends how long this lasts, how deep it goes, but i could cite a number of historical experiences. The one i remember the most, i was a cub scout way back when, and i remember the 1987 market crash and i remember president reagan going out and saying the economic v economy is fundamentally sound, and it actually grew by 3 or 4 in the next couple years after this crash. President trump said it in this room two nights ago, we just think the economy is sound, and therefore i just dont think this
Im not saying the market is wrong, it is what it is. You know, youve got millions of people trading all around the world. I just think everybody, whether youre an investor or whether youre, you know, ordinary, main street person, people should not overreact. Thats an important thing, to not overreact. This is in america we have an incredible Strong Public Health stu the d as i said to president has taken rapid fire, unprecedented actions to help protect in the event of emergency or, you know, further deterioration. I think these are very good things. Very constructive things. Reporter numbers on wall street for several days that the president would consider more extreme measures to respond, potentially even up to suspending the tariff on china as one emergency measure due to the virus. Is he considering that or any other measures . Mr. Kramer theres nothing definite i can report. Theres a lot of conversations in and out of the oval office. I was with him yesterday for quite a while tal
Turnaround. Thank you. Can we ask you a few questions . Think the markets overreacting . Oh, you know, youve been in the market so long one way or another, wall street, government, fed, Broadcasting Markets the market. Is, my reading of the numbers that we have in i acknowledgein, this could change and i couldledge the situation deteriorate and i acknowledge the risks. But given what we know factually, looks to me like the market has gone too far. And it canhis before come back very rapidly. Im not saying the markets wrong. Is. S what it you got millions of people trading all around the world. Everybody,think whether youre an investor or youre ordinary, mainstream person, people should not overreact. Thats important thing, not overreact. Is we have an incredibly Strong Public Health system and as i said to stu varney, the rapidfire,s taken unprecedented actions to help of emergency event further discrimination and i deterioration, and i think things. Very good moree president consider
Anger for some of them, democrats especially is growing. One frustrated lawmaker in particular is joining us live as the number of new cases also ticks up. Everyone is still insisting this shouldnt be politicized. Even as the president s right hand man seems to dive into the thinking this morning saying the media is now covering coronavirus because they think it will bring down the president. But were focused on nervous south koreans. Lined up for hours at a Department Store to try to get their hands on face masks. A stark illustration of whats gripping the global community. By the way, do the face masks help . We have key questions about the coronavirus from our medical expert. And ron klain will be here, who served as president obamas ebola czar. Lets start with the coronavirus and wall street. We have a lot of developments this morning. First of all, a Northern California woman is on a ventilator. She didnt travel to china, she had no known exposure to anybody with the virus in the
Good wednesday morning, everybody. It is april 29th. Im yasmin vossoughian. We do have a lot to cover this morning. The u. S. Crossing the 1 million mark, a grim milestone for confirmed cases of the coronavirus yesterday. While the death toll from the virus has now surpassed that of the vietnam war, 58,220 americans were killed during the roughly 20year war. While nearly 59,000 americans died from covid19 in less than two months. In terms of confirmed cases there are now 1. 17 million across the country. That represents worldwide cases. The president was asked about it at an event yesterday. Take a listen. Back in late february, you predicted that the number of cases would go down to zero. How did we get from your prediction of zero from 1 million . Well, we will go to zero. When it comes to testing, were going to do much more testing than anybody else. If you add anybody else combined that will be a number, and it will be at the appropriate time. It will be down to zero, like we said.