shortening the duration of the pandemic, which is what it is, the cdc has published guidelines on the coronavirus.gov to it's used right now to allow every american to upon to this and protect themselves, their families and the communities. the risks to young and healthy remains very low, we have learned a lot about this anyone next two weeks, can be a carrier for the virus older k transmission to americans and those with underlying health conditions and are most at risk. well, ave not done very older americans who are healthlly if they have a problem, they have not done well. we must take all precautions and for the actions

that we take and that we see want to ple take, we prevent the spread and disease.sion of the it's incredible what is appening with the sporting world where so many of the great sports that we have gotten so used to at this time of the going to be not meeting and they have done a great serve actually, that would way that it could be, caused.s could be that is why i outlined on ednesday night my administration's fact that we have issued a requirement all medically unnecessary visits to various in particular nursing homes, we should all be playbook f the same when it comes to protecting americans. we have to. e need to be consistent in adopting measures to limit the spread of the virus. the virus is the same whether spreading in cities, towns,

or rural communities. the tools and tactics for it are similar no matter where you go, no matter where you go. have some hot spots throughout the world right now that people would have never thought possible. seriously ng very affected. among these efforts are breaking hains of transmission between people, these measures have been dapted by my companies, universities, and schools and we want to protect the safety and he health of their employees and their students. i encourage everyone to follow we have issued by c.d.c. and these common sense measures. is common sense. the area where the virus is preading, the c.d.c. is advising communities to postpone arge gatherings, postpone assemblies, social function, stagger recess and lunch for aren't cancelled, limit in-person meetings, increase scheduled cleanings and

cancel work-sponsored travel steps that us other can be taken. americans are the strongest and people on earth nd in the coming weeks we all have to make changes and sacrifices. he short-term sacrifices will produce long-term gain. again, i have said we are learning a lot for the future problems like this or worse, or worse, it could get worse. weeks are ght critical. turn a earn and we will corner on this virus. it will he doctors say wash through, it will flow through, interesting terms and very accurate, i think you're going to find in a number of to be a very ing accurate term. in times of hardship, the true of america always shines through. we live in the company of the most st heroes and the

inspiring citizens anywhere in the world. of our to take care people. we want to draw on the strength of our history, draw on the we ngth of our people and will get to this all together, through it. get so much progress has already been made and, frankly, the steps because of the that have been taken are at a level that a lot of people are when you especially compare them with other places smaller populations. the spirit and will of our nation is unbreakable. we will defeat this threat when america is tested, america rises and to those n families and citizens who are worried and concerned for ones,elves and their loved i want you to know that your ederal government will unleash every authority, resource and tool at its disposal to health d the lives and of our people. we're with you every step of the more prepared is

or more equipped to face down this crisis as you know, we are in the world, e we're also helping our nations, any other nations, we're helping them a lot. and they're doing ok in some some cases they're not doing very well at all. we're working with a lot of of ps of people and a lot other nations. ith faith and heart and hope and love and determination, we prevail, ed, we will we will be very, very successful and we'll learn for the future. thank you very much. you have any questions, we can take some. go ahead, john, if you would folks upsk some of the here, that would be fine, please. >> mr. president, where were you bill?the house yesterday we talked to you in the oval office, you were opposed to it, what has happened hold then and what's the up on that? pres. trump: we don't think they're giving enough. the democrats with giving enough. thought weiating, we

had something. all of a sudden they didn't agree with certain things they agreed to. something. we don't think they're giving enough. they're not doing what is right for the country. if i could ask dr. fauci. >> go ahead. president, your. mentioned waiving interesting buying oil loans, from the f.b.r. what other specific targeted administrationur thinking about taking, the you are secretary said in the second inning. pres. trump: we were looking at very different things. of them have been written about very widely. we are going to be releasing a hours stating two quite a few other steps, very go rtant ones, please, ahead. please, go ahead. >> thank you so much, mr. president. want to know if you are in contact with the brazilian after a member of his delegation has tested positive ask another

question if you let me, lindsey rick scott enator are self-isolating. re you planning to take any kind of precautionary measure to protect you and also your staff are there with him? pres. trump: no, we have no have,oms whatsoever and we we had a great meeting with the brazil, he is doing and tastic job for brazil as you know, he tested negative, meaning nothing wrong this and we got that word, too. we did have dinner with him. sitting next to each other for a long period of time. with him in contact over the coronavirus -- pres. trump: we're talking about it country to country. he had a cuss if problem. it was reported that he may have doesn't fortunately. fauci saidident, dr.

earlier this week that the lag in testing was in fact a failing. take responsibility for that and when can you guarantee that every single american who will be able to have a test? what's the date of that? take trump: no, i don't responsibility at all because we a bed of circumstances and we were given ules, regulations and specifications from a different time. it wasn't meant for this kind of an event with the kind of numbers that we're talking about nd what we've done is redesigned it very quickly with the help of the people behind me and we're now in very, very shape. i think we'll be announcing as i said sunday night and this will we'll ery quickly and have the ability to do in the millions over a very, very quick period of time. so, no, and what we have done going to be re leaving a very indelible print for the future in case something it this happens again, but

was -- and that's not the fault f anybody and frankly, the old system worked very well for smaller numbers, much smaller numbers, but not for these kind of numbers. tony, maybe you would like to say something. >> by sunday night, will every get a test?able to >> just to reiterate what i said you multiple times, the system was not designed for what it was designed for, it well.d very the c.d.c. designed a good system. kind of nt to get the and availability for anybody to get it, you have to embrace the private sector this is exactly what you're seeing. you can't do it without it. so when i said that, i meant the not designed for what we need. now looking forward, the system of it.ke care >> mr. president -- pres. trump: and interestingly, if you o back, please, it was to the swine flu,

nothing like this. they didn't do testing like this lost tually they approximately 14,000 people and they didn't do the testing. hey started thinking about testing when it was far too late. what we have done and one of the reasons that people are have done, wet we have done it very early, and kept a lot of people out. mr. president, mr. president, the last administration said people at a million this point -- pres. trump: ask them what they did with the swine flu, it was a please., next, they had a big failure with swine flu. to ask resident, i want you about the european travel ban that goes into effect at idnight tonight and the exemption that you have offered to the u.k. that are 17 countries that have alled zone fewer coronavirus cases than the u.k. u.k. e past 24 hours, the has added 208 coronavirus cases to their total. hy do they, mr. president,

deserve an exemption and would you consider adding them to the travel ban list? that was p: well, recommended to me by a group of professionals and we are looking on the new numbers coming out, we may have to of ude them in the list countries that we will, you could say ban or whatever it is during this period of time. the numbers have gone up fairly precipitously over the be adding rs, we may that and we may be adding a couple of others and we may rankly start thinking about taking some off. ahead. >> thank you, mr. president. hong kong t.v. you have mentioned that the umber in china has been decreasing, china has made tremendous progress in the past weeks. 'm wondering, how much confidence does this give you to control the virus in the united states? you see the data china has been sharing with the united has been helpful?

pres. trump: i think it has been helpful. we have been working very much with china. as you know, with president xi. they went through hell and their are starting to look very good. they're really looking very good. about that.appy we are sharing data, yes. in fact, we're sharing quite a of data including that some of our pharmaceutical companies right nowg over there with large groups of people. president, your. spoke with canadian prime yesterday.udeau did you discuss the potential closing of the border between anada and the u.s. and by extension, are you considering the $2 billion trade between the two countries? pres. trump: we didn't discuss the border. we had a very good relationship, just about finished with the embassy, he called me to tell me that. that was the primary reason for the call at the time.

his wife had not been diagnosed. is a wonderful lady, great ady, and i have heard, read that the result was that she has it. i was a little surprised. also.nk he was surprised we did discuss it prior to, she s going to be fine, but he thought that she would not most the virus. unfortunately she does. we didn't discuss the border yesterday, no. go ahead, please. >> do you have any questions for these great geniuses up here, should, even a business question, relate it to what we're talking about? abc news, ing from miami, as a relatively new loridian, what is your message to the cruise line industry and the travel industry that it upon and since senator ick scott and miami dade mayor carlos jimenez have the same are sel s you and

self-isolating? pres. trump: we have many white i asked them and that same question and they said, you don't have any and we don'tsoever want people without symptoms to go and do the test. test is not insignificant. as far as the cruise line all ess, we're with them the way. it's a great business. it's a great u.s. business, i know how important they are to the country, that includes airlines, cruise line business obviously was hit very hard. we had a tremendous success out oakland where we moved, vice president pence did a fantastic with that. we worked with the u.k., we orked with canada, they took their people back and canada, 600 people. u.k. took a large number of back to the united kingdom and we have people quarantined. it as a big operation and

worked out -- you don't hear about it anymore. it worked out really well. might want to say that.hing about that was really done properly. vice pres. pence: thank you, mr. president. that program with the grand princess ship is continuing to the highest ed and standards, orderly way as the president directed and americans that needed treatment have it.ived i spoke to the governor of iowa who now some of those have been cleared are able in proper super vision to be to iowa. they're making arrangements for them to do that. others in texas, others in georgia, again, it's another xample of the extraordinary cooperation with the governors. that, the president directed me last saturday to travel down to miami, we met of the leaders of the cruise line industry, several announced a have

operations.e in our department of homeland ecurity has praised for doing that because of the unique health challenges particularly seniors who have underlying conditions. from the proposal industry, they're currently considering what other steps they might take, perhaps the other o what lines have taken. we are looking at some response on that in the next 24 hours. as the president said, our american people cherish the line industry, all of the economies that are so benefitted crews line industry. and what the president has irected us to do is whether there is a pause in the moment as some cruise lines are doing nd as we all continue to discuss, we want to work with the cruise line industry to when we come through

this cruise lines and the medical services that are and for the passengers and all of the cruise lines are ever before and can prosper for many years to come. pres. trump: go ahead, please. for dr. faucin is and burke. ist you currently know, what the trajectory of when this outbreak will peak? how long will the american remain on the emergency footing. for dr. burke, as the tries to get its arms around the test kit is tage issue, the next respirators and equipment, what outbreak ng if this should continue? >> when you have an outbreak like this, particularly if interfere with it, it's impossible to predict goingme element when it's

to peak or naturally go down. if you look at the situation where countries really did not of trying to nt contain and mitigate very well, ou see a peak over several weeks and then down again over other several weeks. what we're trying to do with the that we're doing is to blunt that peak and i mentioned as many times, i think it's and appropriate for me to mention again because it answers your question, when you preventing infections from without in, which is the kind of travel restrictions talking about, then how do you handle what you already have in your country. of continue some sort containment, but you also do try to on and you proportion to the areas where infections.e most the success of that and how much you make this turn into this is you the amount of time, if we're successful, it will be less, if we're not going to be t's more. but these kind of things generally run out in a few months. we'll take it several

weeks, eight, nine, whatever a ks, but i can't give you number because it depends on how successful we are. >> thank you, that's a great question and dr. fauci and i have worked together a very long time and continue the privilege to work with him every day. so i think you can learn very -- and i appreciate there was some graphics done by some of the reporting over the last several days. align the data from china ith the data with south korea, you can start to see a complete overlay of that data. that's what we're tracking very closely as well as italy. you have an excellent question. want to make one note. in south korea, i want to repeat, only 4% of the tests positive. that means 96% of the people had different respiratory disease. because we're in the middle of all eason, cold season and of the other respiratory iseases we get every day, in

labcorp and quest's early data, they're running 1% to 2% positive. it means we have a lot other respiratory disease out there coronavirus, that's why the screening is critical. even with the screening, we're going to run what we think are low rates. needless to say, though, we're aking it extraordinarily seriously to plan for what could about r. fauci talked blunting the curve, that makes it much less high need at the peak of the curve that we're for.ing we're in full inventory by all of our assets by the president this emergency order and the secretary of h.h.s. his ability, it unlocks those stockpiles as needs as what the v.a. has, what the national , what the guard has and what every hospital has and the hospital plan ncy preparedness allows them to defer elective issues to keep those hospital for those who might need them. we're in full planning mode for things. those

poip i might add that we are in the process and in some cases i a e already done it, ordered rest pir raters in case we need them, we have number of them. >> thank you, mr. president. in your speech to the nation, mentioned the situation in china and south korea have improved and you're thinking removing the restrictions, also a warning in place right now. we expect that announcement and how do you see overall progress that asian countries make? pres. trump: well, some are making progress, some are not, know.u some are making progress. as they make progress and get down to the number that we all know is right that they right, we know is right, we'll be opening it up. really moving along rapidly. we hope to be able to open things up as quickly as possible. go ahead, please, go ahead.

>> i would like to ask secretary how -- dr. fauci just dr. fauci. 90%, trump: not 100%, but go ahead. >> this affects the elderly primarily and in that sense it's an usual disease. is any specific research being it affects our senior citizens more than others? >> i don't mean to diminish your but we already know why it would affect senior when you ore because talk about anything that requires a robust immune system, get older, your immune system is not as potent as it is you are young and that's the reason why when you talk even the flu which we have

xperience with over the decades, the people that are very vulnerable are the elderly with underlying conditions. the same thing holds true for a variety of other disease, why is more prevalent mostly in older individuals. screens e system that for it is less robust, so it really is something that is kind over a lot of studies. mr. president, the trainees some als are expressing tones of discontent with how, of virus has ces come from and they're spinning some odd narratives, what are to the china officials who are doing that and signalled any kind of upcoming trade talks in response to how we're

handle the virus? we're dealing with china, they're buying $250 $50 on worth of goods and billion from our farmers and it's a great deal for our country. it's about time somebody did that. and, frankly, phase two we'll negotiating. i did read one article, i don't think that article was representative, certainly not of my conversations with president xi, they know where it came from. know where it came from. >> thank you, mr. president. thatrst question, you said you don't take responsibility, but you did disband the white pandemic office and the officials that were working in the office left the abruptly.tion what responsibility do you take to that and officials that orked in the house said the white house lost valuable time because that office was disbanded. what do you make of that? it's a nasty question. hat we've done and tony has

said on numerous times that we saved thousands of lives because of the quick closing and when it, we me, i didn't do have a group of people, i could sk perhaps in the administration, i could ask perhaps tony about that because i don't know anything about it. mean you say we did that, i don't know anything about it. >> you don't know about -- pres. trump: people let people know. you used to be with a different newspaper than you were now. please go ahead. doing a great job. let me tell you, these professionals behind me and incredible doctors and business people, the best in the world and i can say that, retailers or labs or anything you want to say, these are the best in the world. great job. a we have 40 people right now, 40, compare that with other many, many at have times that amount. one of the reasons we have 40 and others have -- and again up, just sois going you understand. and a number of cases which are very small relatively speaking

up, but we have done a great job because we acted quickly, we acted early and nothing we could have done that was better than closing our borders to highly please, go eas, ahead. >> thank you, mr. president. for latin american countries and for spain. i would like you two very brief questions. going r how long are we to have the emergency, i mean the national emergency -- long.trump: i hope not it's there now. it gives tremendous powers for need, tremendous power, actually. the stafford act and various that we're involved with and have studied and memorized in so many different gives the rms, it kind of power that we need to get rid of this virus and we're quickly.do it very i hope we won't need it very takes.but whatever it >> for now we still don't know for how well. something very important i you reallysk you, do

think it's essential coordinating with other learning from the lessons that they suffered the same situations, these of course like china and south korea and recently taly and spain and how is that coordination done? pres. trump: yeah, we're in ouch with italy and it's a country that we love, we have tremendous millions, millions of originally, origins from italy and we're working with them. in a very -- they're in relatively speaking the toughest position of all. touch with everybody. we're in touch, when i say with ody, we're in touch many of the countries that you know about that you're writing about and they're calling us advice.or they're asking for the advice of the people behind me. tough situation, but they're really, they have really clamped down. to see they're going some very good results. it's tough what they did, they really took their medicine.

they're going to see some much results. jeff. >> thank you, sir. with regard o domestic travel, should americans feel safe or should americans at all be traveling to state, such as washington new york and other hot spots within this country? nd a follow-up on brazil, you're asking people who come ack from europe, americans are coming back from europe to self-quarantine for a couple weeks. picture with somebody who now has coronavirus from brazil at mar-a-lago. different? pres. trump: well, i'll tell back from t coming someplace. >> you were exposed. pres. trump: i take pictures and for literally seconds. i don't know the gentleman that about.e talking i haven't seen the picture. i take sometimes hundreds of night i a day and that was taking hundreds of pictures, so i just don't know. did sit with the

president for probably two hours, but he has tested that's good. go ahead, please. i would say if you stay home, bad. not it's not bad. there are certain parts of the essentially are have zero problem, washington tough, in ery particular nursing home and the state of washington has been very tough. it's been a big percentage of you talk about the 40 deaths, it's been a big as you ge of the deaths know very well and they all came from a very certain area, unfortunately. please, go ahead. go ahead. very much, mr. president. sky news. you talked this week about the doing a good job in tackling coronavirus. cases, of the rising are you changing your mind about that? you also just spoke about travel restrictions,

have you discussed when they might be put in place? res. trump: in light of the results as we discussed before, in light of the results, we're going to be looking at it, i the task force is looking at it very strongly. vice president, everybody, it good, but the results have been building up rg up pretty rapidly. we will be taking another look at that, yes, absolutely. go ahead, please. >> mr. president, thank you. i want to follow up -- the person you were standing next to -- whether you know who he is or not -- tested positive for coronavirus. said this morning that if you were standing next to , youne who tested positive should self isolate. you say your white house doctor is telling you something different. who should the americans listen to? pres. trump: they should listen to their doctors. they should not be jumping to unless necessary.

i have not seen the picture. someone said there was a picture of someone, but i have not -- >> are you being selfish by not being tested? pres. trump: i didn't say i was not going to be tested. >> are you going to be? pres. trump: most likely, yeah. not for that reason, because i would do that anyway. a follow-up -- pres. trump: yes. talkere has been a lot of about testing. i want to make sure we are clear urine we have been hearing from doctors who say as of today they can still not get people tested you need a test. as of today, can anyone who a doctor wants to be tested can be tested? pres. trump: that has not been true for a while that i will let mike answer that. as theesident pence:

president said and dr. fauci has of ourated, the nature current system, the cdc has labses or the state perform tests, or in some cases universities and hospitals -- is generally adequate for an infectious disease, for people getting diagnostic work done, but given thesheer scale of this, president bringing together this extraordinary public and private someership, today, by estimates when you add all of the last together, today, the president made it possible for every state in the country and their state labs to authorize labs across there's a to do coronavirus testing. we are estimating somewhere between 15000 and 20,000 tests a day are able to be performed. but very soon, with the program announced today, americans will

be able to visit one of the sites closest to them, as , as thed on the website questionnaires indicated, to get a test their in these incredible companies will process the test and receive the information. for now, the best advice we can give to people is to speak to their doctor as the president has just said and if the doctor indicates, that position, if it's not a university, hospital, or other authorized lab can contact the state lab, and again, every state lab in the country can perform a test today. the president charged us with -- when i was asked to take over the white house coronavirus task force -- open up test all across the country. the president said a few days any we made it clear american who wanted to get a test would be able, clinically, to get a test.

i literally heard from the governor of washington state who said the doctors in washington state or saying if you're only mildly symptomatically would not order a test, and fortunately, the president directed the cdc to clarify that. anyone who comes into consultation with their position, regardless of their symptoms, can request a test. the doctors will contact those agencies, those labs in the state, but very soon, americans will be able to go to these drive insights and be able to obtain and participate in a test. >> i think that's perfectly sad. with lab core and quest, i think many of you have been to the doctor's office and seemed a little box outside? what they do is they deliver the specimen and collection keys. it is a swab it. not a tube of blood.

they will arrange to pick that up. the important piece of this is they have gone from a machine that may have a lower throughput to the potential to have automated extraction -- i know you do not want all of these details, but is really key for the laboratory people. the result comes out the other end. sample to machine to result. that cuts out a lot of the manual pieces. >> what's the timeline? what should people expect? it was taking a couple days. we believe that the test can be -- member there is the transports and we are hoping that that will be finished within 24 hours, which is very

similar to other test. these are not point of care test. we are working on point of care test. we have to realize point of care tots take six months or more develop. these are nucleic acids -- this is an antibody, and surgeons, the actual virus in your nose we are amplifying. i think you have to remember though we are working very closely with states. they are going in and doing it, like in new york, where the relationship is very good. gavin newsom, he may very come from entry -- this is california. he made really complementary comments the other day about how we're working together. we worked on a lot of things together having to do with this. and really, the relationship that we have, i can't think of a bad relationship. we are helping them.

we are funding them in some cases, depending on what you're talking about and we're working together very closely. we are doing, really, i think a tremendous job of teamwork. one or two more and if you have questions for these folks -- does anybody have a question for the folks up here? who has a question up here? you have? if you have a question, go ahead. >> thank you. i have one for you as well. pres. trump: i thought. i was waiting for that. go ahead. with regards to the ceo of's 's, can you tell us when you expect to see items like hand sanitizer that have been going out of stock very quickly going back on the shelves? the rep and a lot of reports about that. and for you, mr. president, can you talk about a potential bailout for the cruise industry? is that something you're looking at? suggestump: i did not

it could happen. i can tell you it's an industry that was very badly impacted by what's going on with the virus it'st's a great industry, a very important industry and we will be helping them and helping the airline industry. we will be happy to, assuming we have to. so far, people have not been asking. but if they should be asking, we want to make sure our lines are very strong. and one day, it is not looking so good. interestingly, -- the numbers from the retail example, because these businesses, they have been selling a lot of stuff. do you want to answer the question as to the answer? specifically the areas where rio saying pressure on the cleaners,in, surface cleaners, hand sanitizers. we are still replenishing and shipping it. as soon as it hits stores, it's going. the retailers will be

working hand-in-hand with suppliers to bring that to the market as fast as we can. >> what's your advice for americans seeking those items? they are selling out online. they are selling out in stores. i think the team has given you examples of how to combat the virus and you should look at the entire list. pres. trump: please. obviously, it sounds very simplistic, but wash your hands as often as you possibly can. i know you're not always in a position to watch her hands, but wash them as much as you can hear it if you don't have the outlaw wipes, just try to get them. if you can't get them, try your best as possible to do it. you have to do the best you can. just general preparedness. you know, you want to wash her hands. you want to keep distance from people. if you are around someone sick, keep away from them. basic, basic doublet health. toilet paper -- tony, did you

give some guidance that toilet paper is not effective coronavirusgainst question mark they are selling out. soap and water. how water, soap, 20 seconds. that's how you do it. pres. trump: go ahead. go ahead. behind you. >> mr. president, you have a great team, of course. pres. trump: that's true. >> mr. president, are you happy about the timing of your response? and second, prime minister modi aprilosed borders until 15. have you spoken to him about whether they need help? pres. trump: on small businesses, the small business administration is stacked with money to help them and we will make money readily available if

they need it. we have a great time in india. it was incredible two days. he is a great friend of mine, a great friend of his people because he was greeted in credibly warmly, as was i in that stadium. it was an incredible event and i love being with them. just say hello to him. we talked for everything. -- we talked about every thing. aesident xi, likewise, is friend of mine. i believe we are dealing in good faith. just work, as you know, as i just said, we just worked out an incredible deal, big deal, one of the biggest deals ever made of any kind, big even by the standards of people who deal with china. but we want to get to the bottom of things also. we're working, our drug companies, our pharmaceutical companies are working very assely with china and india, you know, and all over the world. and they are all over the world. companiesmagnificent

that are very, very knowledgeable and we are lucky to have them. because whether it is therapeutic or just help, alsong getting better, and the vaccine, which takes a little bit longer, you can have it very quickly because of the great knowledge, and they will have it very quickly. they've made a tremendous amount of progress. thank you all very much. we appreciate it. thank you thank you. romaine: we were just listening to president donald trump you're the main headlines, the mobilization of the health effort, the idea that he is waving the rules and regulations for hospital so they can treat people, and it may be easier without constraints. he also talked about potential economic measures, including really for the airline industry and the cruise ship industry.

probably one of the big headlines we got out of this, he is going to buy oil for the strategic petroleum reserve. we saw that pump up in the nymex have letrices on that alone. once you started speaking around 3:30 p.m., new york time, and began to announce these measures, we saw the stock market here in the u.s. have a on the s&pbump up 500 to end the day up about 9%. the close was the best day we have had going back to -- the indicesarlet: were higher into the close. the pink line is when he began speaking at about 3:30 p.m. it turned around or started to move higher and when the different ceo's marched up to the podium and talked about the

roles they would play in excel ring testing you really saw the big kickoff. the appearance that there is actually some plan in motion is a huge relief to wasstors whose expectations an extraordinary in. the markets will look at this wild ride on the markets. thank you, joe. own to pick up on what you were talking about. we see markets ripping higher, the highest since 2008. not to say be volatility is going to go anywhere, but talk about the stresses in the market this week. the dollar with thing higher, , the demand for cash. this could be problematic given is typically a bearish

sign for growth and can be challenging, as well as frankly unitedort from the states. meanwhile, gold, its worst week since 2011. today, even at times when there was more of a risk off feel. we saw gold you -- lose value. it is sell what you can behavior. need to watch gold to figure out equities because the fact that we are still seeing -- this is more marginalization. meanwhile, on the 30-year trend, the 30-year markets are having such a difficult time that the

market came in. the pressure on yields is rising. again, i haven asset. chief executive at 24 hour asset management. he says liquidity is atrocious. the ability to trade u.s. treasuries -- this is challenging. the question is, can we take .eeper meaning this is the technical pressure, and real issues on wall street. back to you. romaine: thank you, lisa. a great wrapup of an historic week, no matter how you want to slice it. we are being joined by the chief .arket strategist we also want to bring in the global macro strategist out there in north carolina. george is in north carolina.

with that quincy at the dust. lisa abramowicz will join us as well pure, i want to start with you. put this in perspective for us. >> it has been a wild ride all week. there have been pockets of illiquidity. we know it was in the treasury market. calendarccelerated its in terms of what they had to do, going in, delivering the quantitative easing, by the way. there is an old saying from the trading floor. by against selling. this cannot be seen as a template. this is what we are usually looking for.

we are reaching a panic level and we always like to say we are trying to look for peak panic. have we gotten there yet? maybe not yet. to go out toi want you. an extraordinary week and i would not know where to begin with trying to break down any specific.anything we expected, ok, we are going to have to see fiscal action this week to bring the market out of its tailspin. we still have not gotten that. how important is it that we still get something big to sustain what we saw today. i think quincy's comments .ere banged on we are used to having to trade with not much friction. not sayingis anything calm or rational.

i really think investors should disregard the close today just as they should disregard 10% declines like we saw yesterday. i do not think him present gains or declines are what investors should expect on a day-to-day basis. if we do want to see a bottom in financial markets, we have to see something related to fiscal stimulus. the fed cannot fight recession on its own. they can only do so much. coronaviruser see or completely out of control -- if people do not social distance, which hurts economic activity, we're going to see a really long impact from this leaste, at the very

months. if we see strong social distancing, we could see weeks, something we have presidents for in china and south korea. but if we do that we will see the structure and of economic road and that will cause at least a short recession. the hope is fiscal stimulus recession anda keep the damages from coronavirus from metastasizing and get beyond that. scarlet: i think what is driving on monday willl be the virus count over the weekend and people will be watching. >> that's where i want to go. was incapable of spinning off any volatility. this is the week that the central bankers died. i think it will go down in history as being that. the fed is trying to unleash what it can.

it is expected to cut rates. that looking at a market did not fall even more. it was insufficient to address the real problem. romaine: and we heard from peter chir, that this was the week during the bull market that we finally realize, the fed cannot fix everything. frome entire bull market march 9 2009 until the coronavirus joined us was heavily underpinned by central seriousness, they cannot afford a major unwinding. take a look at high-yield. take a look at the bbb. because --ferated >> how can we interpret this

going forward? --s this mean central banks we will be and a higher volatility environment because credit risk was again matters? can do things to address liquidity. true thethink it is federal reserve cannot do anything. when you're looking at liquidity in the treasury market, the fed can do quite a lot. these markets will help other stabilize. the fed can absolutely help and i think it can do so. rates, all of that should be undertaken, without question, by the federal reserve. the problem is they cannot solve a recession by themselves.

we need fiscal stimulus right now. we are not getting it from washington. joe: quincy, next week will that be the big thing we are watching for? whether there is a deal of substance the between policy, mcconnell, and trump? absolutely. we will be watching the chatter, the washington chatter. we also have that all over europe. needed toat is cushion the downturn. now it has changed dramatically because the word recession has sneaked into everyone's narrative. when we come out of the recession, i remind you, we come into this with what chairman "a good place to go

the economy is in a good place. last iflong will that to getot have a cushion the u.s. through this? that's what we're watching. the small business owners across the landscape. , cruise liness and airlines are not waiting. matter, george, that we came in and a fairly good place in the economy? does it matter if it came in fairly strong? you would much rather start a recession at a place of exogenous strength then a shock. so, the recession in 2008 was quite a shock. this is something different.

but we can't really do much about economic growth and social distancing. what we can do is make what happens after last, and we need to scale size. , wewhat is being discussed have speaker pelosi, the majority leader, none of it is enough if we don't act soon and it needs to be ramped up in scale significantly. romaine: all of these measures that are being taken part of right now to combat the health crisis, even though we have five people sitting close together on a desk your -- what does this do for risk appetite when we don't have a sense of how hurt these companies are going to be? i was speaking to him economist this morning. mysaid, if you want to know

estimate, throw a dart at the dart board. >> flying blind. totally flying blind. withhe fed can step in liquidity issues on that front. i do not have a clear sense of how much that is resolved. we did see things break down. i do not know whether that is respect to a washout or a fund. that is one of the big questions. quickly, what do investors do? do they sit on their hands? there is the change in tone regarding apple, right? there was a buy rating essentially. you take a look at microsoft.

the debt market can get crazy. scarlet: all right, quincy crosby of prudential financial, george, lisa abramowicz. "bloomberg technology" is up next. ♪ hi! we're glad you came in, what's on your mind?

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every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. taylor: i'm taylor riggs in new york. watching a special edition of "bloomberg technology." e have all of the coverage including techs performance. and to the other top story that following this our. president trump declares a national emergency among the new coronavirus. have the latest and the historic week