Excellent meghan, a real pleasure listening to your thoughts today and we will have you back, of course, as soon as we try to get our gps with regard to the coronavirus and its Economic Impact in the marketplace. Thank you for joining us today Carl Quintanilla, back to you. Rick, see you in a little while. Good monday morning. Im Carl Quintanilla at post nine morgan brennanp with us from cnbc Global Headquarters, jon fortt from the floor of the nyse another eventful monday morning as im sure you know by now. We did trigger a Circuit Breaker at 2521, went down around 2400 and then since added about 100 s p points as we are at 2501 on the nose dow was near 25 and now 21. 2 interesting session, guys, as the day is far from over already jon, some headlines creeping out, this one just now, italy Lombardy Region posted the lowest number of new cases in the week, the kind of headline the bulls will want to see. Yes, indeed you know, i continue to watch the levels where we are jon, can you hea
Coronavirus negatively impacted travel and tourism and that while Manufacturing Activity expanded in most regions, some supply chain delays were reported due to coronavirus. In cleveland specifically firms noted weaker demand because of the 737 max production stoppage and concern over the coronavirus impacting supply chains. In boston one retailer said inventory levels were being impacted by the virus, which slowed production at some cheese manufacturing plants also in cleveland a number of manufacturers reported weaker demand from china weighing on Commodity Prices in st. Louis contacts were concerned about what impact the coronavirus will have on Commodity Prices and agricultural purchases several districts said producers feared further disruptions in the further weeks. In richmond there were concerns about coronavirus lowering imports of inputs and retail goods from china in the coming months only the chicago district noted little affect to date from the virus. Now, employment incre
Pulled that into this. Treasury, we want treasury to be able to have the cash that it needs and we are essentially taking that to our work. There may come a time when we talk about that. I think we are more focused, frankly, on the bill purchases the year end and review of supervisory and regulatory issues that were digging into and we think these are structural things, right just allow the liquidity that is already there to flow more freely perhaps by making fairly straightforward noncontroversial changes. We think there is some of that if they take role changes, it will take three months and things like that these things that were working on now, like going through year end with the overnight facilities and the bill purchases and the term repo, those are things we have to do right now and are doing. Chris hi. I wanted to ask the only change in the statement was a drop in the reference to uncertainties around the economy you seem very confident or it implies theres a lot of confidence
Economy. Well be looking for things affecting the outlook of the u. S. Economy, particularly as it relates to zblrchlts all those things in principle can affect the achievement of our goals its an unusual situation because you know the u. S. Economy itself, the largest part of it, the consumer part of it, is in strong shape the manufacturing part, less so. Overall you see an economy that generally forecast shows growth similar to our own forecast coming in at about 2 . Significant risks to that outlook from not just the geopolitical events but slowing Global Growth. Well be looking at all of that and also Financial Market conditions and how they are affecting the outlook. I cant it is a challenging time i admit it were not on a preset course well be making decisions meeting by meeting as we see this and well try to be as trance parent as we can, as we go. Sparent as we can, as we go with the rate cut today and modest adjustment coming down the road, do you worry about lessening the fed
Oracles cloud revenue surging by growing ai needs. The boeing challenge citing delayed aircraft deliveries, rethinking the 2024 financial forecast. Lets begin with the Market Reaction to cpi. We mentioned a tenth hot at. 4. Shelter and gas 60 of that. Surprises in here, mike. Apparel up. 6 , a topic of discussion. Yes. I think what the market did, there was a quick reflection when they said, okay, this is hotter than expected. Stocks back up. Then the rethink was, well, the things that matter and that will translate into what the pce inflation number is going to say combined with how high a threshold was set by powell last week for changing their premise that they are preparing for likely rate cuts in the summer. I think all that fit together. The core services, stubbornly firm, inflation readings there, dont translate that the pci will go in the same direction. Thats part of the mix. We are also geared for shelter being stubborn. You didnt see the uptick like we saw in january. All th