rally. you can thank the federal reserve for that. is hovering above 1%, which is a good thing. they are launching qe. well, they are not calling it qe. we are calling it qe. david: let me put you on the spot. a question a lot of people are asking today, is the market down because of the fed or despite the fed? some people are saying there are indications that the market is going to be down a lot, and he said may not have made a better. taylor: potentially, the two emergency rate cuts made people wonder whether the fed know something we don t. the fact that they came out sunday and they knew something they couldn t wait until wednesday, they had to ask sunday night, that potentially made markets nervous. on the other s on the other hand, like you said, this is a medical crisis, so markets could have been down the matter what until we get that flattening out of the curve in the terms of the number of cases. david: thank you for being here. for more on that emergency fed rate
conference in the white house rose garden is imminent. he s expected to declare a national state of emergency over the deadly coronavirus pandemic that has taken the lives at last count of 41 americans and infected more than 125,000 people around the world. as we await the president to appear before the m cameras, we will take it the second it happens, markets on the verge of closing out the worst week since october 2008. we are firmly still in a bear market right now. what if anything can the president say to pull the markets out of this week-long tailspin? to our floor show traders. we are teeing it up in front of the president. you have been on the markets front line. tom at the nyse, phil at the cme. what market indicator will you most closely watch as the president speaks? well, we saw extreme fear yesterday and they always say when no one s worried, that s the time to worry. well, yesterday everyone got worried and they came out with massive action. mnuchin reminded m
will open up access to up to 50000000000 dollars of very importantly for important and a large amount of money for states and territories or localities in our shared fight against this disease in furtherance of the order emerging every state to set up emergency operation centers effective immediately you re going to be hearing from some of the largest companies and greatest retailers and medical companies in the world as to anyway. behind me and that side of me i m also asking every hospital in this country to activated some urgency prepared as planned so that they can meet the needs of americans everywhere the hospitals are very engaged in new york and various other places are also very sing gauge i just spoke with governor cuomo we had a very good conversation and we re working very strongly with many states including new york. the merging see orders i m issuing today will also confer broad new authority to the secretary of health and human services the secretary of h.h.s.
ladies and gentlemen, the president of the united states accompanied by the vice president of the united states. pres. trump: thank you very much , everyone. thank you. beautiful day in the rose garden. appreciate everybody being here. i would like to provide an update to the american people on several decisive new actions we are taking in our vigilant effort to combat and ultimately defeat the coronavirus. we have been working very hard on this, we have made tremendous progress. when you compare what we have done to other areas of the world, it is pretty incredible. thet of that had to do with early designation and closing of the borders. as you know, europe was just designated as a hot right now. and we closed that border while ago, so i was lucky, through talent or luck, call it whatever you want, but through a very collective action and shared sacrifice, national determination, we will overcome the threat of the virus. i announced wednesday night, following the advice o