his mansion, his country estate. you look cold. susan holding out in new york city. good for you, girl. good for you. great to have you with us. i think it worked. my time's up. neil, it is yours. neil: all right, stuart, thank you very, very much the big news help is here. usns comfort arrived, stacked with goodies they need in new york, stacked with hospital beds up to 1000 of them, clinical supplies, cat scan equipment, needed drugs, and doctors and specialists that can offer a great deal new york needs right now. the very latest from connell mcshane on what this means to the big apple. connell? connell: neil, they said they could put 750 of those hospital beds to work right away in this giant hospital ship which sailed into new york harbor earlier today. as we look at some video of

that, you see some famous sites of new york as it passed through the statue of liberty sailing into lower manhattan. world trade center in background of one of these sites, brings up memory this ship has been here before. three days after 9/11 it helped out with first spenders then. it is back for a second go around. you have 12 operating rooms. 700 beds put into circulation right away. mayor de blasio speaking, talking about new york has been asking for help and now the help has arrived. here's the mayor. >> i can't tell you how much this means. it is so much more than even we realized at this moment, that our nation has heard our plea for help here in new york city and there could not be a better example of all of america pulling for new york city than the arrival of the usns comfort.

some major, major moment in this long battle. connell: mayor de blasio thanking by name both president trump and defense secretary mark esper in participate of his remarks. you see numbers. new york needs help. coronavirus infections in the city with nearly 34,000 and 776 deaths in the most recent figures reported to us. if you extrapolate that out, look at new york state, the hardest hit state by far, 60,000 infections and 1000 deaths. in a percentage terms, number of cases in new york city is six of the 10 in new york state, 57%. and then the number of cases in new york state compared to the rest of the country, you might remember last week, neil we were saying about half, that number has come down a little bit. it is 42% of the most recent report. 42% of the national case cast are in new york state.

other states, new jersey, california, michigan, massachusetts, have been going up. in fact all states have really been going up. it is just a matter how much. there is new concern about states like louisiana, where there has not only been a surge in cases but in cities or areas in and around new orleans a higher mortality rate than we've seen reported elsewhere but the news of the hour is the help arriving, much-needed help in new york. the javits center, the convention center on the west side of manhattan also coming online, neil, with another 1000 beds. that helps in the most important fight this area and state has and that is hospital capacity trying to make sure this system does not get overwhelmed. back to you. neil: connell, thank you very, very much. as you were speaking we're getting more from the mayor, mayor de blasio says, even with the ships arrival today, the comfort's arrival in new york he will still need triple the hospital bed capacity in the city by may. this will effectively mean about

30% more beds available but he says he is going to need a lot more than that triple the hospital bed capacity in the city by may. you know, this is near the end of the month. of course the end of the month tomorrow. then april 1. all those new rents have to be paid and mortgages have to be paid. you the aisle bills have to be paid. student loan monthly payments have to be made. in the real estate sector alone $20 billion worth of monthly real estate loans come due. now many lenders are offering extensions and some guarranties but not everybody. so the question is, how much of a hit could that be to the u.s. economy and how do those who are in this financial pickle through no really fault much their own, how do they handle and designate, prioritize the bills? john bussey of "the wall street journal" joins me right now. that, john, is going to be the

trillion dollar question, huh? >> it is. you will not see a lot of checks coming through to the people from the treasury for a couple weeks yet. what does the individual face? they face mortgage payments, rent payments, credit card payments, and a lot of them don't have jobs anymore. look at the numbers, neil. just in the past week we saw 3.28 million americans file for unemployment benefits. the restaurant industry has lost 25 billion in sales since the beginning of march because of the shutdowns. 50,000 stores of major retailers have been closed. 20 billion in monthly retail, real estate loans are due now. how will they be paid if people are not coming into the stores buying goods? this is kind of a match point moment but the key thing here, also, neil, this is the first of many. what happens next week, next month, next, you know, first of the month all the bills are due, the month after that if

indication the shutdown will last longer than a few weeks. neil: then you have to wonder, forget individuals, they are so crucial in all of this, but even, successful restaurant chains, likes of cheesecake factory come to mind, that already told their landlords, usually in large shopping centers and more we'll not be paying april rent to you. you will have to deal with it. i'm sure we get many stories like that? >> ruth has a story on this in wsj.com. there is advice giving to people, not just cheesecake factories, people who owed the regular rent, hey, now the time to go to the landlord say, can't do it because i have all of the other bills. for the cheesecake factories, those in the commercial real estate market, this is a 3 trillion-dollar commercial mortgage market, that gets put at risk if you see enough companies saying, sorries we'll have to miss our payment this

month. neil: i'm wondering too, about, we always talk about the latest jobless claims figures, more than a quarter of a million people filing for unemployment benefits that will ratchet up each and every week to say nothing of state claims going through the roof. new york a good example of that. so before people get the checks, and as as after they get the checks there will be some financial hell to pay? >> that's right. for the individual as well as for the companies that aren't making the money they need to make to pay wages, those companies will have to be deciding i will make a calculation, i will lay off because i don't have money to meet payroll. do i want to lay off or furlough? do i want to pay 10 or 20% of the payroll so that people stay attached to the company so that when things do come back, i don't have to recute or retrain?

these are decisions companies are making now. state level, think about it, if tax money is not coming in from payroll taxes because payrolls are not being meant and employees are not there, what happens to state functions down the road? paying for teachers, paying for police, paying for road repair? these things will be trended by this. neil: you're so right. john, don't go anywhere inn your fancy-shmancy studio. we'll return to you a number of times. john bussey. we talk about the stimulus already handed out or initiated. we had three various stimulus packages going from $8 billion in the first go round that was targeted to health care professionals to had $3.2 trillion measure which includes all the checks for individuals within the next couple weeks. but they're kicking around a fourth stimulus package that, they're already occurred nating as we speak. blake burman in washington with

the latest. blake? reporter: hi, there, neil. yes, we even heard from president trump say if there is another package down the line one of the things he would like to see included in that, potential hazard pay for nurses. a lot of nurses on the front lines, might not necessarily the they might make over the threshold so there is a way that the administration might be looking at potentially making sure these nurses are taken care of and that their needs are met financially as they are on the front lines there. that could be coming down in sort of a phase iv. right now the administration is giving hints how it will go forward implementing phase three. we heard from treasury secretary steve mnuchin earlier today about one of the biggest parts of all of this, the $350 billion in loans to small businesses. the treasury secretary telling stuart varney this morning that guidance will be given on that later this afternoon, for small business owners how they can tap

into that. mnuchin laid out four different ways small business owners will be able to access money. existing sba lenders, fdic insured institutions, credit unions and fintech companies. those are the ways that small business companies will be able to go out to get that money. the treasury secretary feels that putting in this massive program could be smooth sailing. >> we expect this will be very, very easy. they will get eight weeks of payroll, plus, 25% for overhead and as long as they use that money to bring back their employees or pay their employees, it will forgiven. this is a great way of getting americans back to work. reporter: however president trump today continued to say there could be a problem down the line for those who might need to tap into the uninsurance benefits. remember it, was the small business loans that republicans had been pushing for, insurance benefits, expanded benefits that democrats were pushing for. just like he did yesterday in

the rose garden, the president said earlier this morning on "fox & friends," he believes the states may not be able to handle the load. >> it is going to be very, very hard for many of the states to send this money because they're getting hit with too much money. they don't have the equipment and computers to take care of it. many of them, not all of this. they wanted it sent this way. i said to the people they're doing a bad thing. when you start reading about it in a week and people didn't get their money you are going to see that the democrats that did it. reporter: speaking of the president, neil, he was scheduled to have a phone call earlier this morning with vladmir putin. the president saying, one of the reasons for that call is to talk about energy prices. neil? neil: all right. blake, thank you very much. blake burman. energy price situation is deteriorating quite rapidly. oil is under $20 a barrel. that produced dramatically lower energy prices in this country.

you probably see it when you go up to fill up your car, if you go out enough to fill up your car. the irony a lot of drivers can't take advantage of that. they're not leaving homes very much and when they do, they don't really go that far. phil flynn on all of that. this conundrum finds drivers and investors in the same boat, sir? >> really is. for gasoline prices it is the best of times, it is the worst of times. it is the best of times, if you look at prices of gasoline, since this russian oil price war and coronavirus panic we've seen gasoline prices get to the lowest level we've seen since the 1970s, when you adjust for inflation or cheaper than they have ever been before. the bad part, the economy has ground to a halt. people are locked at home, not driving. this is reminder cheap prices are not always a good thing. sometimes cheap prices reflect

the slowdown in the economy. that is what we're seeing in the gasoline prices right now. i think we also have to look at -- neil: demand equation is the last, right? >> yeah. right now based on the futures markets, they expect it to be short-lived. they expect the demand will start bouncing back in just a few months. but at the same time, i think they're also pricing in some production destruction and that is the sad part of this story. a lot of u.s. energy producers, neil, will probably go bankrupt because of the recent price drop. unless they get help from the government that is not going to happen. in fact president trump said he was going to fill up the strategic petroleum reserve but in that 2.1 trillion dollar package to bail out the u.s. economy, the money for buying in the reserve was put on hold. a lot of people in the oil industry are of value tote economy as well.

they hope in a future bailout package they get helped out and buy oil for the spr. neil: my friend, thank you very, very much. phil flynn on all of that. it is a still question as phil expertly pointed out about demand. so oil prices keep slip-sliding away as demand keeps slip-sliding away. you see it all sorts of way. macy's announces 130,000 of its workers, pretty much all of its workers will be looking at furloughs. this will be the bloomingdale's department store chain and costco, cutting back number of hours it is staying open to deal with all of this. john bussey, "wall street journal" that feeds on itself and gets perception in the markets of certainly oil markets keep selling because we don't see that demand side of the equation improving, right? >> yes and it is very hard to determine when that will shift.

we just had the shutdown or, not the shutdown or keep avoiding going out order from the white house extended to the end of april. there's no prospect for that necessarily being shortened. it will be probably be lengthened. so market players are making a decision right now, how far down is this going to go? and how do you restart it once you restart it? marcus walker writing in today's "wall street journal." this is tricky process, essentially shut down parts of economy, but then to restart them. from consumer standpoint you have got to think this will leave for the consumer an overhang. when we come out of this, because the consumer will not be robust like they were in december, they're going to be a little bit more like our parents were after the depression. they will be thinking i will save. i will not go through that again. that has got to be going on in the back of the minds of ceo's

now, when we do finally come out of this, will i see demand anywhere close to what i was experiencing in the second half of last year? neil: very good point. john, we'll come back to you a little later. to illustrate just a couple of points john was making here, we get sporadic updates to talk about, people sort of hedging their bets or sliding back a little bit, u.s. miners have been busy idling their operations as this begins to hit, the virus begins to hit coal country, west virginia, other places. gm itself announced it is delaying some models, cutting executive pay in some cash saving moves. bob iger at disney, other top executives at disney foregoing pay right now in the midst of a shutdown that included all its theme parks across the united states and some across the world. as i was just mentioning here, costco cutting weekday store

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now a total of 11,591. meantime they're trying to avoid that sort of thing in this country but the devil is how do you get about that? maintaining the social distancing thing at least another month at a minimum might be a step in that direction but it is very, very tough for those dealing with loved ones battling with this. alex hogan knows it reporting live from new york city with the very latest. alex? reporter: neil, we're seeing more than 732 cases worldwide with more than 34,000 deaths and those numbers might just seem like statistics but those are people with loved ones, hoping for them to recover and waiting for them to come home. one of the patients in critical condition at cooper university health care system in camden, new jersey, 50-year-old bret breslo the lockheed martin engineer is a football coach, a father and a husband. his wife amy said he had no

underlying health conditions. when he got sick they thought he would recover. he quickly got worse until the family took him to hospital but that was 10 days ago. >> i have not seen him since he walked into that emergency room. so i miss him horribly, you know. it is tough to be here without him, sleeping in bed and sy -- is not there. sometimes i turn the corner of the house i think he will be there. our dog is misses him horribly. sitting there crying in his spot on the couch. it is really hard. reporter: amy breslow hoping that her story will encourage covid-19 survivors to donate plasma so that it will give the anti-bodies to kill the virus. new york seeing 59,000 cases. they are also calling on recovered patients to give their plasma. hundreds of scientists,

physicians around the country work on the could have individual 19 plasma project recently passed under emergency approval by the fda. the nba already seen some of their players and some of their staff test positive for covid-19 also reportedly encouraging people to donate. for anyone who has never given plasma before the process, time it takes, recovery is much like donating blood. in this case again it could potentially save lives. neil? neil: alex, thank you very, very much. meantime as alex was speaking we are getting more current worldwide figures on the virus, ratcheted up to 741,030 cases worldwide. 35,114 deaths. a good many of them, about a third of them in italy alone where there is an older population and that is what makes the difference between that and the neighboring country like germany where the deaths are far, far fewer. dr. marc siegel with us right now. doctor, this gap between certain

countries and the alarming rate and the increase in italy, i guess can't owe it exclusively to the older population there, but it is continuing to is accelerate there. what do you make of it? >> i think you hit one of the things we think. it is mostly males, they are 70%. a lot are smokers. a lot are more elderly, a lot have underlying conditions. we learned a lot about the virus, neil, it can unfortunately get you sick if you're younger and have no underlying conditions. the vast majority are older with other etiologies. smoking and risk factors like drinking alcohol there is somewhat of an increased response to it in italy, the health care system there, but it is a bit spotty. the countries with more organized, sustained across the across the board response like south korea, like singapore, like hong kong have had a better

effect. neil: do you make anything of this so-called two-month arc people are alluding to? two months ago china was epicenter of this, supposedly coming out of this. we don't know the real sin any there. we do know a lot of cities under lockdown, they're unlocking them. a lot of people not able to go to work are allowed to go to work. if you buy the two-month gap between when it hit china, eventually hit us, that might be the way this is going here or is that a leap of faith? >> it is certainly looks like it and i would like to say developing immunity to this virus when so many cases are asymptomatic or have mild symptoms could play a role and that would create a herd immunity and that could explain the slow of spread with countries had it for a while but i want to add a caveat. pandemics take a long time for enough immunity to develop for

it to slow the spread. more likely the social distance something actually working and shutting down whole areas, which i had some pause about that initially because that could spread a lot of panic, that seems to have had a very good public head effect. we're trying to get that to work here. so far we have close to 150,000 cases. luckily, luckily we have only 125 deaths. 15% or so are getting very sick from it. social distancing, isolating people that are sick are all we have right now. we're about to get a very important tool added to this though, which is a rapid point of care test that can tell you within five to ten minutes whether you have it or not. no need for a lab. right on the spot test. that is, tool is what i need in order to know who has it, who doesn't, who needs to be isolated right away and who their contacts are. neil: you know, doctor, while i

have you, dr. anthony fauci was the one who said the 100,000, 200,000, feared number of deaths in this country, that was with the socializelation going on and will being extended presumably for another month if not longer. so that seemed to be, maybe i misread scenario. they don't want to get it to 100,000. they certainly don't want it to get to 200,000, is that even factoring in all the dramatic steps being taken to keep the social distancing going for another month? >> all could have points on that, neil. first of all, i know tony fauci really well. he does not like to speculate. he does not like mathematical modeling. i saw the interview, i think he was cornered into that question, would it be two million deaths. he tried to respond to say it will be a lot less than that. he ended up with a number but he doesn't like to speculate. i think it is not, i think it is too soon to be putting numbers

on to this especially because of the point i just made that we'll have a new method of testing people. we have anp immune test coming out. i will be able to tell whether you have anti-bodies to the vice russ with a simple blood test that will change it. we're working on treatments. if we find out that hydroxychloroquine for example the clinical trials on that are very preliminary, but we have just given to 1100 patients in new york, if we come to the conclusion with hydroxychloroquine which is malaria drug or for lupus, decreases severity will be able to cut down on deaths. so the number is fluctuating based on the number of cases on what we can do to treat and intervene. neil: all right, doctor, thank you. always appreciate your expertise and calming expertise, marc siegel on some of those numbers and estimates out there. we always try to cut through the

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neil: welcome back, everybody. this is the scene, not quite 2 1/2 hours ago when the usns comfort reached new york, new york harbor. this was something a lot of new yorkers were desperate to see including the state's governor. 12 operating rooms. it has 1000 hospital beds. it has a pharmacy, radiology, cat scan, mri equipment, all badly needed in the new york metropolitan area. new york and new jersey coronavirus cases to put them in perspective are running at about five times the so-called attack rate of anywhere else in the united states. so it is concentrated in those two states, garden state and the empire state. governor cuomo of new york, he is going to be addressing the media no doubt to respond to the comfort's arrival and what more he wants to see.

the new york city mayor, de blasio was saying he still sees that there is a dramatic lack of capacity when it comes to beds that are still needed. these 1000 new ones that opened up as a result of the comfort arriving in new york harbor but de blasio is still talking about the need to triple his bed capacity. that is just in the new york city area within the next month. again easier said than done. deirdre bolton now on what a lot of businesses are doing, preparing for to help out or deal with something that gets crazier and crazier. deirdre? reporter: indeed, neil, and actually they are hiring. so monster.com, this online site was posting all over social media just this article, the title was, companies hiring to fill urgent demand. i counted 16 companies. we of course did our own research as well, neil. so these jobs, it is not really few and far between. walmart is looking to hire

150,000 people. amazon, 100,000. the list goes all the way down to companies that are small and boutique. blue apron, 300 people it is looking to hire. these companies are not just looking to hire but this is really to meet the demand of the way that most of us live now, which is, having things delivered to our home, big logistics. companies are offering wage hikes or they are offering flat bonuses. the list there, i can take you through some of them. campbell's for example, adding 2-dollars an hour for every employ even on staff. target the same. amazon the same. cvs, walmart, they are adding flat bonuses. then kroger is trying to look at a different way, maybe a more creative way, if you like, neil, keeping some of their employees in house. so they're taking some employees they had to furlough and they are sharing them, if you like, for lack of a better term with the food distribution company

called sysco, they are basically rerouting some of their employees. so while, so much business is shut down, we're going to for sure see that data point on friday with the jobs report. there are numerous companies, not only looking to hire but also paying more in this climate. neil, back to you. neil: deirdre bolton very much with the latest on that. we told you earlier that macy's was looking to furlough upwards of 130,000 workers. those include those at bloomingdale's. remember it owns bloomingdale's as well. macy's just added to that saying, beginning april 1st, all employees at director level or above not furloughed will have a pay reduction. they did not specify the pay reduction. the ceo or board of directors will receive no cash

compensation. i don't know if that includes stock. no cash compensation. this is belt tightening for retailers. can't go to stores. most stores are not open. can't go to malls. most malls are closed this is the kind of action, seeing one retail or another have to take, sadly a sign of our times. meantime you might be hard-pressed to go car shopping these days since so many showrooms are closed or at least activity curtailed. grady trimble on how some automakers are doing to at least online. grady? reporter: neil, sales are down right now as you expect. some dealerships closed entirely. others like our friend woody's, they're trying to stay open as more and more americans are staying home but they're dealing with a shift of mind-set of consumers. about 30% of americans say that they're delaying a car purchase amid the coronavirus outbreak and the uncertainty that comes with it. about the same amount say they're delaying repairs or service that they need during

this time. while the automakers aren't making any cars right now, the dealers say they have plenty of inventory. so in a customarily business where you customarily come in and walk around and interact with people, they're trying to make it contact-free, actually pushing people online. it has gotten to the point where you can fill out almost all paperwork and get your car without really ever interacting with someone, like in some cases, woody's dealership, they will drive the car to you, pick your car up, take it in for service. they're still trying to reduce contact to get people to buy during an uncertain time. >> able to do all of the paperwork and selection and get the pricing, whether lease or buy, trading in online, what people are liking right now. reporter: you can get top dollar for a trade-in right now because supply at the dealerships is low of used cars at least.

i should say since we're at a gm dealership, general motors is on the president's good side again. they say they will be producing plenty of ventilators. the president praising them yesterday. they're retooling their kokomo, indiana facility as we speak to produce those ventilators. neil? neil: yeah, i caught that, grady. they were just in his line of sights. he was arguing that they weren't moving fast enough. obviously something changed. he was also prepared to go after a couple other companies whose names he didn't mention. presumably they responded to the strong-arming, whatever you want to call it. thank you very much. grady trimble in the middle of all of that. these are not unusual powers. normally you might recall in history at least after of the japanese invaded pearl harbor that the president issued executive orders, he really didn't have to at the time, to compel the auto industries for example, stop making cars, to start making tanks.

others to start making bullets instead of doing their traditional business. the president, this president gotten renewed powers that date back to the korean war that allow him to compel companies to do and build things in the national interest. liz peek on that. also john bussey from "the wall street journal" back with us. liz, some would call that strong-arming. others would say it is the right thing to do but the fact that the president has now talked about this, i don't believe we have liz, we have john. john, the fact that the president, sort of stopped ripping gm, that gm is doing what he wants them to do is controversial but these are times which we live? >> yeah. and it will take some time, neil. you have don't change from cars to making ventilators overnight. gm is working with another company closer to that technology. remember, it took a long time for the auto industry to make

bombers instead of cars during world war ii. there were shortages at the beginning of world war ii that were extensive i have is in the pacific war and europe war as well as the north atlantic t will take a bit of time. it was a stutter step on the part of the white house. they sort of invoked the provision but really didn't declare its use. trying to threaten the companies or strong arm them in a good way but not really making them do what they wanted to do and now they're sort of ratcheting up the rhetoric. their argument is they don't want the dead hand of government in the commercial world. they don't want it influencing businesses in such a way it slows down business but at a time like this the public is expecting a little more of a exerted effort by the white house. and that shows up also in the discussion of, you know, slowing down the economy or not slowing down the economy. the white house was quite late

getting to testing, getting to preparation. it downplayed the coronavirus because it wanted to keep the economy vital. there is a good argument, there is a good health argument for keeping the economy vital but let the disease spread. this discussion, up until yesterday of, beginning to relax on restrictions as early as easter, also sent the wrong signal. this is a time when people do need to be socially distancing. and all of that sends confusing signals to the market. and a concern that if you were to open up too quickly or not put strong arm enough on business to produce the products that health workers need like protective gear, then, what you end up doing is -- recurrence of the disease. that is the tanker here. that you shock the consumer because it comes back in a way because you opened up too soon. neil: that was the concern of

mary barra over at gm. liz peek, i want to get to you. we were showing as john was talking the original, you know, signal that the tweet from the president where he really ripped general motors a new one. they were in the press conference last night saying all's good, general motors doing what they should be doing. he had a couple of other companies guess were not doing what they were doing. i don't know whether insurance or the health field but he was singing the praises of some of the big health care providers or insurers who are now footing the bill for coronavirus tests or what have you. so if you do what he says, he is not going to finger you or embarass you, but the flipside is, some of these companies aren't ready to what demands. but they don't want to get in the buzzsaw i guess, right? >> private sector. he is a businessman, also very pushy one. i mean i think his biggest claim to fame for many of us was when

he rebuilt the central park skating rink, in three months, something that was supposed to take six years. that is his trademark in being effective. he expects other companies to follow suit. he was clearly reluctant to use the defense production act, he didn't want to have as you say, put his thumb on companies to make them do something. look, neil this, is a time when one of our major political parties is bad-mouthing big business, anti-big business, it is not a good time or good look for general motors to dink for prices they want to charge for ventilators this is a time the entire economy and the entire country should be coming together. i think president trump was frustrated he couldn't cajole them into producing what they wanted to produce. they do have a partner. they basically took too long to get it up and running but they

are running. look, what we've seen is the private sector stepping up, obviously the drug companies are working like crazy to get therapies and also vaccines but you also have logistic companies coming out from nowhere. help -- neil: all right. we will have more on that, i apologize for that. hard break came and i wasn't prepared which is bad. we'll have more after this. announcer: there are everyday actions to help prevent the spread of respiratory diseases. wash your hands. avoid close contact with people who are sick. avoid touching your eyes, nose and mouth. stay home when you are sick. cover your cough or sneeze.

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♪. neil: all right. you can add maryland to the list of state has have some lockdown measures in place. maryland joining more than pa dozen states that have this requirement, not only stay at home, but you don't venture outside unless for something vitally important. maryland the latest to do that. right now about 2/3 of the american population is under these so-called lockdown provisions. it is semantics i know but the

real definition of a lockdown is when roads, bridges, tunnels are closed. technically that isn't happening anywhere but we do have a number of state has are now locking out of those from other states getting into their state. rhode island, for example, is among those saying if you are coming from new york, new jersey, connecticut, you're not getting into the ocean state. maryland among those that have so-called lockdown provisions in place. we'll get details on that very, have he shortly. to charlie gasparino on, what is happening in the next couple days when a lot of rents and mortgages are due and how banks are trying to help out on that, with that process, not only for individuals but a lot of small businesses as well. hey, charlie. >> neil this, is probably one of the biggest business stories we'll be hearing this week. the rubber is meeting the road on lending to small businesses. as you know small businesses makes up about, employ about 50% of the american workforce. they have been hammered by the

virus shutdowns, small business, anything from restaurants to small factories. they are closed down as you know and a lot of people out of work and a lot of people need money. the businesses themselves need money. they need what is known as bridge loans. basically under this trump stimulus plan that secretary mnuchin, i believe spoke about earlier today, friday is the day when all of these loans are supposed to be beginning to be handed out. now there is a couple of issues here. number one banks, are essentially scrambling to set up systems. these will be mostly automated systems. i don't exactly know how it is going to go. i assume you could do it by phone or through a automated system because there are not a lot of people at bank branches now. bank branches are closed. that is one issue. another fly in the ointment, the small business administration. what the banks are worried about that the small business administration will not be prepared by friday to give out loans to small businesses, what

needs to be followed. the banks i understand, i'm talking to the big money center banks, bank of america, chase, you name it, those are the big ones, citigroup, they think they're going to have their systems in place by friday. they think it will be largely automated but they do some more rules of the road from the small business administration which they're worried about, a government administration that is not equipped generally to handle this type of issue, whether or not they will be ready to hand them their marching orders and have everything ready by friday because there are a lot of small businesses that need loans. one other sort of interesting issue here. most small businesses have relationships with banks. apparently some don't, don't ask me why. those that don't will have to establish a relationship with a bank to make this work, to make these loans. that will be kind of troublesome process that will take some time. so, again, the banks think they will be ready. they're worried about the government being ready. they're worried about some logistical things. it will be largely automated and

friday is d-day. i tell you if there is bigger story than small businesses getting money to get them through this, i don't know what is. hopefully everything works okay because this is the biggest, probably the biggest, maybe the most important part of the trump stimulus plan. neil, back to you. neil: yeah. and to your point a lot of those businesses do not know how to get their hands on that money. so it is an education process that will be have to be had. >> right. neil: also curious to get your take, charlie, what is going on in the market today. we're up appreciably 520 points. a lot of it is built on the view that the rate of increase, in some cases, in some countries, certainly not all countries, certainly not our countries, one analyst put it as manageable. still awful in the scheme of things and how high the death rate could go but i only raise it with you, because it is having a weird anomaly of stocks rising as bonds are rising. bond yields on 10-year note tip

under .7%. you don't often seeing them both go in tandem. what do you make of that? >> i would look at the vix more than stocks for a long-term view on this. why i say that, it is the notion of risk and volatility. i think the risk is still trading at very high levels, meaning there is a lot of anxiety in the markets. traders are worried about another dip down. here is the thing, neil. you know, theoretically, the market, in past years, markets were often tied, i remember during the financial crisis to the health of the big banks. the banks were doing better, stocks went up. this market is tied to some notion of when we're going to reach that peak, when we will start leveling off where people can go back to work and it is hard to gauge. there are two theories out there there is one theory it is peaking in new york and rest of the country is largely unscathed, you know, at some point people will go back to

work. the rest of the country will be spared. there is another theory, i know new york portend problem for middle america. this thing is based on the way this thing works, middle america will get hit with some degree here in the next month that could prolong things. -- neil: charlie, i want to keep going with charlie a little bit longer here. our next guest i definitely want to go to in the next hour. charlie, i want to bounce off this idea of you, sentiment among a lot of business leaders has turned sour, and that is even with the $2.3 tril money coming indirectly their way. so many of themave scaled back and, initiated more furloughs, for example. macy's not surprisingly leading the way. you're seeing it at destiny with closed parks across the world now. the disney leadership forgoing pay in the interim. so many more doing this. that is usually reflection of

concern that goes beyond the immediate future. what are we to make of that? >> what people, what a lot of business leaders are saying, at least they're telling me, you know this thing has created such a dramatic change in the psyche of americans that we're just going to change the way we behave and interact and spend money and this is a consumer economy and you know, you know, again, a lot of it is confidence, lack of it is in the white house. i heard about liz peek talk about donald trump jawboning businesses to do things. he was great with the rink in new york city. that is such small potatoes compared to what is going on in this economy right now and, the fact that people, a lot of people have, are losing confidence in central government because they missed the boat so o go forward is ais, and what is dramatic change, a lot of people

fear into the way we spend money and this is a consumer economy. who will go own a cruise? who will travel on planes? who will go to disney world? who will go to a movie theater? it is a big difference. it will be interesting. next year we'll see, a lot of people pricing a change in the u.s. economy in major ways, keeping interest rates at zero will have very little neil: there's going to be a change in behavior. thank you very much, charlie gasparino. i want to leave you with this. the federal reserve estimate that's out now that says coronavirus job losses could approach 47 million. the unemployment rate could at least for awhile go as high as 32%. that is just an estimate. these guys often are wrong. they were certainly wrong about the bull market and the bear market that followed the bull market that came back after that but it is a reminder that those at the federal reserve are factoring in some pretty serious numbers. stay with us.

neil: all right. doe at the corner of wall and broad, about 534 points north ward on the dow jones industrials. a lot of it spearheaded by some economic news that might be dated now but it's all we have to go on. for example, february pending home sales moving up at about a 2.4% rate. they had been expecting a decline and then where they could find good news, they take it. the interpretation from many of the latest coronavirus cases is that in much of europe, certainly in china, the new cases are slowing rather dramatically, and that that is seen at least despite the record number of deaths, for example, we are seeing better than 800 more in just the last day in italy, that that rate of increase is slowing so they take

what they can get and that coupled with lower interest rates dramatically lower interest rates, you have bondsh direction. then there is new york state, of course, which accounts for close to half the number of coronavirus cases we have in this country. it got needed relief today when the "uss comfort" arrived in new york harbor a couple hours ago complete with 12 operating rooms, it has available 1,000 hospital beds, a pharmacy, radiology, cat scan equipment, desperately needed there. they are also retrofitting the javits center, a huge convention facility that they hope to add at least a couple thousand beds to. new york governor cuomo will update that and where things stand on that front. he's been kind of agreeing a little bit with new york city mayor bill deblasio about bed capacity itself will be a thorny issue. i don't know whether he agrees with the specifics. deblasio outlined about an hour

ago that they were going to need triple the bed capacity they have right now in the next month or they are going to be in deep, deep trouble. anyway, david lee miller is at a field hospital in central park, where they are getting ready for anything and everything. david lee? reporter: indeed they are, neil. behind me over my shoulder is an extraordinary sight. normally jaded new yorkers who have been told not to leave their homes unless there's an essential reason are coming here to gawk, to see the construction of a field hospital here in central park. you can see off in the distance, mt. sinai hospital that is struggling to cope with the increasing number of coronavirus patients. state officials brought together a charity group called samaritans purse out of north carolina and mt. sinai to make this field hospital possible. when construction is complete tomorrow morning, there will be a total of 14 tents, 68 beds including 10 with icu capability

including ventilators. the doctor in charge says they can take care of the sickest of the sick. he says he never imagined the need for help here and we practiced social distancing as we talkehought i would be in central park doing this. we did this in war zones, earthquakes and hurricanes. this is a very improbable location. we are blessed to be here and happy to work alongside new york to help take care of the people. reporter: our help has also arrived. a plane from china touched down sunday at jfk. aboard, more than 100,000n55 masks, more than one million gloves. it was brought here as part of project air bridge, a partnership with the federal government and private industry. fema will distribute supplies to the new york region as well as other high risk areas. this virus is taking a toll on all new yorkers. the nypd, new york's finest, are

no exception. the latest figures show that more than 12% of all uniformed officers are calling in sick. nevertheless, they remain on the job and specifically they continue to be on the look jout for people who are violating the rules of social distancing. now they made one arrest and issued four criminal violations for people who are not playing by the rules, endangering themselves and others. neil? neil: all right. david lee miller, thank you very, very much. maryland now has some of the same restrictions on those who violate these, the lockdown or sheltering, will be, you know, met with swift response. they didn't really indicate what that swift response would be but it is a rather ominous warning from another state that said enough, already, of this stuff. let's go to edward lawrence on the stimulus that is to come. within a couple weeks, most americans are going to be getting some relief checks, credit checks, whatever you want

to call them. they could go anywhere from $1200 to depending on the number of kids you have, $3,000 or more. edward lawrence, what are we hearing on the rollout of those checks, how soon, et cetera? reporter: we are also starting to hear grumbling about a phase four stimulus package going forward. it's show me the money at this point. americans need this financial aid, at least the eligible americans need the financial aid in order to go forward here. the checks, the irs has started to process it. i'm told from a senior treasury official. that is looking at basically 142 million tax returns. the irs trying to figure out if they have direct deposit, if they have checks to match the accounts to make sure everything works. take process has started and takes time. i'm told that april 17th you will begin to see direct deposits hit your bank account, then you will really see it in earnest the week of april 20th. small businesses will be able to get more help this friday by walking into an fdic insured

bank or contacting one, according to a senior treasury official, and the loans will be retroactive back to february 15. that means a small business can rehire people from that date. small business could then reduce staff by 25% and still turn the loan into a grant. if the staff is cut by more than 25%, the grant amount gets reduced so there would be part grant and part loan to pay back. the u.s. chamber of commerce released guidelines for small businesses on this. any company under 500 people can borrow up to 2.5 times the monthly payroll, up to $10 million. the money can be used to pay employees, rent, lease, mortgage. also utilities. it will be forgiven if the company does not fire or lay off anyone for eight weeks that the loan will cover starting at the loan origination date. treasury secretary steven mnuchin says this is meant to keep the economy afloat for basically eight to ten weeks, going forward and neil, they do believe there might be a fourth

stimulus that is needed after this. at least the treasury secretary alluded to it, also nancy pelosi holding a press conference later today to talk about it. neil: if you could stay right there, i want to include you in the mix with connell mcshane and deirdre bolton. edward alluded to the fact there might be a fourth stimulus package. if you are keeping track of this at home, if you have a calculator handy, the first wave was $8.3 billion that went largely to health care workers or to beef up supplies that needed relief for the health care industry. the second wave was this $100 billion in tax credits for employers offering things like paid sick leave and the rest. there was more to it than that, but that was a big chunk of it. the last tranche was the biggest of all, $2.2 to $2.3 trillion that includes those checks, includes relief through the small business administration to the tune of $360 billion, relief for airlines, for those

industries that were hit hard by this and this fourth wave talks about much more expanded relief to individual businesses and the like. deirdre bolton, i ended with you before, i want to begin with you about where you think this could go and how expensive this could get. what do you think? deirdre: it's still uncertain, because treasury secretary steve mnuchin told us earlier he's not even speaking with lawmakers about this potential fourth package yet and of course, as much as we all really feel the threat of this virus, there's no other way to say it, especially when they are setting up, our colleague just told us, tents in central park, there is a lot of concern for the long-term economic picture which is essentially how do we pay for this. i think treasury secretary's comments this morning, great hesitation, reading between the lines, i feel like they are very

much on a wait-and-see plan, if at least we can sort of flatten this curve as so many experts have told us because as anyone i have been speaking with who is in the market told me, the virus at this point is the economy and the economy is the virus. neil? neil: that's a very good analogy. connell mcshane, when you see the tents set up, when you see emergency units being established at hospitals, some very small hospitals where they are trying to deal with this, it is a stark reminder to folks that we are a long way from that improving arc. connell: especially in this area. we know around the country now, after hearing from the president yesterday, we are at a minimum a month away from really any part of the country starting to reopen and probably longer than that if we are being realistic. that's what many in the business community seem to be assuming now. so you have to say or assume that the new york area, which is such an important area

financially, would have to wait even longer. so a couple things developing there. one of the things i found interesting was that the president i believe on friday towards the end of his briefing, john roberts of fox news actually asked him a question about a potential fourth stimulus and he said yeah, i might be willing to support something along those lines, then he said it might include help for the states. something governor cuomo talked about, which is the big hit to the state budget that he's, you know, taking even with the stimulus plan that's coming in and helping individuals and as a final point, neil, because of how disproportionately this virus economically is hitting states that have high standards of living, new york, new jersey, california, washington state, that also might, especially small business owners would tell you might lead us to have to go back to the well again. for example, after talking about the health for small business, it's capped there if you want to have the loan forgiven of someone making $100,000 a year. not a problem in many areas of the country.

it is a problem for many small businesses in the new york metropolitan area that have been hit the hardest and might have to stay closed the longest. that would be a case to go back and get more help for small business. something steve mnuchin, by the way, told stuart varney that they were willing to go, go back to congress and ask for more money for small business if necessary. neil: you know, edward lawrence, on that, the federal reserve and i assume these statistics, it's pointing to or outline are post-stimulus because it's saying upwards of 47 million americans stand to lose their jobs, the unemployment rate could hit 32%. that's with these three various stimulus measures, the biggest of course the $2.3 trillion package passed last week. those are staggering numbers. reporter: i think what you are seeing there is worst case scenario, if we do nothing. if nothing works on this going forward. i think that the administration is sure hoping they can, one, get the curve of this virus because that's the first thing,

the human toll on this, then second, see if once the curve is flattened out, they can get the economy jump-started again. what i have heard economists say is the stimulus up to this point has been to keep the economy afloat to use one of the analogies i had heard, and what they might need going forward is a multi-trillion dollar package to jump-start the economy after this is all done. as the president has said, the longer this goes on, the harder it may be to jump-start the economy. neil: final word there. thank you very much. we told you a little while ago about the "uss comfort" is in new york harbor. something else has arrived in new york. this is a little more unsettling. we are hearing from fema that it's already centusent refriger trucks to new york city as temporary mortuaries for coronavirus victims. the good of a ship coming in

with rescue on the way, and the dismal with fema sending refrigerated trucks for victims that are also on the way. stay with us.

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neil: governor andrew cuomo now speaking mu speaking. let's dip into that. >> -- northwell health, larry schwartz, former secretary to the governor who has been volunteering to help us here, michael israel, president and ceo of westchester medical center network, and deanne creswell. thank you very much for being here. we just had a great meeting

which i will refer to in a moment. let me also wish everyone happy national doctors day. this is a day that doctors are truly busy and truly stepping up to their oath and their passion, and literally saving lives. we honor all the doctors in the state of new york today. let me also thank the people from the javits center, alan steel, the director. javits center has done many magnificent exhibitions and transformations, and they never cease to amaze me but this is a transformation i don't think anyone could ever anticipate. 2500 beds as an emergency hospital. it's a partnership between the state and the federal government and i want to thank the federal government very much for what they've done. the army corps of engineers did a fantastic job moving in here and getting everything set up as

quickly as possible. it awill become operational today, receiving the first few patients, and we will start to run the facility and then take it from there. let me go through a couple of facts to give you an update on where we are today. then we will take your questions. in terms of the numbers of cases, you see the curve continues to go up. 7195. you see the number of people tested continues to go up. this state is testing more people than any state in the united states, more per capita than china or south korea. that is a good thing. we want to test, we want to find the positives and we want to find the positives so we can isolate and stop the transmission. we tested 14,000 people yesterday. the number of cases continues to go up, 5984, total number of cases, 66,000 cases. those numbers are daunting, to

be sure. you see it's continuing to move across the state of new york. there's only one county now that does not have a covid case. anyone who says this situation is in new york city only is in a state of denial. you see this virus move across the state, you see the virus move across this nation. there is no american who is immune to this virus. i don't care if you live in kansas, i don't care if you live in texas. there is no american that is immune. what is happening to new york is not an anomaly. there's nothing about a new yorker's immune system that is any different than any other american's immune system. so in many ways, new york is just a canary in the coal mine. what you see us going through

here, you will see happening all across this country. so part of what we're doing here is not only serving new yorkers, but we believe that we are dealing with this pandemic at a level, intensity and density that no one has seen before and hopefully we will learn lessons here that we can then share with people across this nation. in terms of the overall numbers, 66,000 have tested positive, 9500 people are currently hospitalized, 2,000icu patients, 4,000 patients are discharged. that's an increase of 632. you don't often focus on this line when we have these conversations, but people going to the hospital and people leave the hospital, and that's important to remember. we have dealt with some really deadly viruses before. we dealt with the ebola virus.

that's not what this is. most people will get sick, most people will get sick and stay home and have some symptoms, that's 80%. about 20% will get sick, need hospitalization, they will feel better and they will leave. it tends to be those people who are acutely ill, have an underlying illness, who have the most new york you see is at 66,000. new jersey is next with 13,000. california, 6,000. so we have ten times the problem that california is dealing with. 2739 deaths in the state of new york, total of 148,000 cases. 2,739 deaths. that's a lot of loss, a lot of pain, a lot of tears, a lot of

grief that people all across this state are feeling. 1200 is up from 965 deaths yesterday. what you're seeing is people who have been on ventilators for a long period of time. the longer you are on a ventilator, the less likely you will ever come off that ventilator and as we have now some period of time when people first entered the hospital and were first intubated, we are seeing that death number go up as their length of time on the ventilator increases. to keep it in perspective, the johns hopkins numbers are still instructive. we have been studying this since china, so 732 deaths, 34,000 worldwide. total hospitalized, we are still looking for a pattern on these

cases that are coming in, we are still looking for a pattern in the data. the number goes up, the number goes down. there's no doubt that the number's still increasing. there's also no doubt that the rate has slowed. we had a doubling of cases every two days, then a doubling every three days, then a doubling every four days, then every five. we now have a doubling of cases every six days. so while the overall number's going up, the rate of doubling is actually down. the daily intubation rate is way up. again, sometimes it's just an anoma anomaly. there's no clear pattern, as you can see from those past several nights. discharge rate, again, that by and large is going up. people come into the hospital, they stay for a period of time,

number of days, and then they move on. but big picture is the situation is painfully clear now, there's no question what we're dealing with, there's no question as to the consequences, there's no question as to the grief and the loss of life, and there's no question about what we must do. there are only two missions. there are only two operations that we need to perform. first, the public has to be responsible. stay at home. when i issued the stay-at-home order, it wasn't it would be nice if you did. it is a mandate. stay at home. if you are a non-essential worker, stay at home. if you leave the house, you are exposing yourself to danger.

if you leave the house, you are exposing others to danger. you can get infected, go home and infect whoever is at home. so stay at home. i know the isolation can be boring and oppressive. it is better than the alternative. life is options, right? stay at home. that is the best option. if you are out, no proximity. six feet distancing. you don't want proximity to other people and you want to stay away from places that are dense. still in new york city you have too many places with too much density. i mean, i don't know how many different ways to make the same point. new york city parks, we made the point there's too much density. you want to go to the park, go to the park but not in a dense area, not in playgrounds where you're playing basketball with

other people. and i have said that new york city is trying to reduce the density in those playgrounds. thus far, they have not been successful. if that continues, we will take a mandatory action to close down playgrounds, as harsh as that sounds, but it can actually save people's lives. so that's mission one. mission two, this is going to be more and more clear as we go on, the front line battle is in the health care system. the front line battle is going to be hospitals across the city, cross the state and across this nation. that is where this battle is fought. it's that simple. you know exactly where it's coming. you know exactly where the enemy is going to attack. they are going to infect a large

number of people. that number of people descend on the health care system, the health care system can't deal with that number of people, you overwhelm the health care system. that's what's happening. so first step was flatten the curve, reduce the density, keep people at home. we have done everything that we can possibly do there. second step is don't let the hospital system get overwhelmed. the soldiers in this fight are our health care professionals. it's the doctors, it's the nurses, it's the people who are working in the hospitals, it's the aides. they are the soldiers who are fighting this battle for us. you know the expression save our troops, troops, quote unquote. in this battle, the troops are health care professionals. those are the troops who are

fighting this battle for us. we need to recruit more health care workers. we need to share health care professionals within this state and within this country. as governor of new york, i am asking health care professionals across the country if you don't have a health care crisis in your community, please come help us in new york now. we need relief. we need relief for nurses who are working 12-hour shifts, one after the other after the other. we need relief for doctors. we need relief for attendants. so if you are not busy, come help us, please, and we will return the favor. we will return the favor. new york, yes, we have it now

intensely. there will be a curve, new york at one point will be on the other side of the curve and then there will be an intense issue somewhere else in the nation, and the new york way is to be helpful. so help new york. we're the ones who are hit now. that's today. but tomorrow, it's going to be somewhere else, whether it's detroit, whether it's new orleans, it will work its way across the country. and this is the time for us to help one another. we need supplies desperately and we are working on that. we just had a very good meeting where we discussed supplies. i want to thank michael evans from alibaba who is here with us today. i want to thank elizabeth jennings from the asia society who is here with us today, who are helping us source supplies, because we are in a situation where you've got 50 states all

competing for supplies. the federal government is now also competing for supplies. private hospitals are also competing for supplies. so we have created a situation where you literally have hundreds of entities looking to buy the same exact materials basically from the same place which is china, ironically enough. and we are fighting amongst ourselves. we are competing amongst ourselves. we are driving the prices up. when we started buying ventilators, they were under $20,000. the ventilators are now over $50,000, if you can find them. the ventilators didn't change that much in two weeks. the prices went up because literally we are driving the prices up. but we need to give our front

line, our health care professiona professionals, the supplies they need and we need to do it now. our rule here in new york has been plan forward to get ahead of the problem. the old expression is don't fight the last -- neil: we are continuing to monitor governor andrew cuomo of new york. he's outlining what the federal and state response has been to cases that are escalating. one little nugget of hope here, he said, is that while the rate increase in deaths is certainly not welcome, the speed at which they are happening has slowed a little. they are still increasing, it's the rate at which they are increasing where you have a doubling of cases essentially every four to five days, that has turned from what had been a rate of every two to three days. you grasp what you can. the govern oor reminding folks are a long way from this thing being resolved. there will be a shortage of beds, something new york mayor deblasio had also feared. he didn't spell out exact

numbers but the new york city mayor had said they need triple the bed capacity they have now within another month and they are a long way from getting that. we are monitoring that very very closely. connell mcshane back with us, edward lawrence back with us, susan li with us now. susan, this notion that as we look at times square and other places where they are really practicing that sheltering, very few are out on the streets, the governor is making it clear i'm not kidding about this, this has to continue and you have to honor it. sometimes that falls on deaf ears, doesn't it? susan: yeah, if you walk out here in manhattan on the weekends, we were talking about this amongst ourselves in the parks, especially amongst and along the really busy running routes, there are still a lot of people. i think governor murphy of new jersey said we will make an example of you if you don't adhere to the stay at home advisory we are issuing across the entire state. i like the fact big business is stepping up. you mentioned that alibaba,

michael evans, president of aliba alibaba, standing by at the press conference and they are helping to provide face masks. we have seen this among a lot of institutions and corporations, including apple, general motors may have had to be pushed into it by the defense production act but it's nice to see corporate america stepping up as well. neil: connell, the big question then is what more supplies are needed, if these cases go up, just following the trajectory, we will have a lot more cases, especially now that we can identify them, diagnose people pretty readily within a five-minute test. obviously the cases go up, then the issue about the available beds and a big issue in new york, lesser issue but still significant one in new jersey as it was and is in california, then it's about the practical side of this that gets to be pretty unwieldy, huh? connell: especially when it comes to ventilators. the governor said over and over again that's what this will come down to at the end of the day, so you can have people who check

into the hospitals. interesting statistic that he gave us there that are then able to check out, as healthy survivors of the coronavirus from the hospitals. if you run short on ventilators, obviously that's when that becomes a problem. the other thing about these data points, and the governor is right to give us some hope with the slowing of the increase in terms of the hospitalization rate or it's not doubling in as many days, is that just by the math you would expect that to happen. it's tougher to double a higher number. if you have two something and double it you only need two more but if you have ten, you need ten more to double it. as the numbers go up, it makes sense they would take more days to double and still with the gains we are seeing here, this is not good in new york state. he also said it's spreading and spreading to other parts of the state, with only one county in what is a large state not having a covid-19 positive case at this point. neil: edward lawrence, as you have been reporting for some time here, we knew and know the

number of cases were going to go up so it shouldn't be shocking when some put pencil to paper to get a handle at the rate we're going. that's what they do at the federal reserve. they projected that at the rate this is going, it could be interrupted by progress on other fronts, the positive effect of social distancing and the rest, stimulus, all of that. having said all of that, factoring in all of that, they are looking at 47 million americans who could lose their job and an unemployment rate that would rocket to 32%. again, they also posit that when the arc turns, all those numbers dramatically recede. i think it's those headline numbers that startle folks even though it does pan out mathematically. what do you think? reporter: those are scary things there. what struck me about what we heard from the governor is his plea. he said we need help from medical professionals. so you have these industries that are laying off folks, you have industries that are

furloughing folks, but then we might not have enough doctors in the united states to help out certain areas. he's saying come help us, when it's your turn, we will come help you. clearly new york is in a bad state at the moment but yes, those numbers on the economy and the economic front, very scary if you look at them going forward but that's what the administration is trying to tackle head-on actually with going with these stimulus packages and law makers, the federal reserve specifically has not been shy about being very aggressive very early with this but also lawmakers have been very aggressive with this. so going forward, it should be interesting to see what happens if there is a phase four as some lawmakers are talking about. neil: glad you mentioned the federal reserve. what we have gotten on the federal stimulus front with trillions of dollars of money provided by everything from mortgage backed securities -- reporter: and the multiplier going forward from 450 billion backed up by the treasury could be 4.5 trillion from the federal

reserve going forward with loans. neil: that's right. very very good point. susan li, i am curious, i notice markets tend to trade more not just on stimulus but the progress of the virus itself or anything good in terms of buying when we see that might be improving, the arc we hear so much about might be improving. maybe they grasp at straws here, maybe they are looking at the half full glass, when governor cuomo said now our cases of doubling are slowing, it takes a little bit longer than it used to. we are also hearing as bad as things look in italy, the arc of change there, there's been a slowdown in new cases. still bad, better than 800 in the latest 24 hours, but slowing. so i wonder when you talk to people on wall street, it isn't about the stimulus, is it? it's about the core of the virus itself? susan: and more news about it, hopefully good news as we heard

from andrew cuomo as you mentioned doubling now instead of two to three days, in six days. by the way, china is open for business once again. i think that's an example of what you see when you get to the other side of it. china also cutting interest rates last night and injecting stimulus, maybe not the rate at the federal reserve or even the u.s. government. that $2.2 trillion stimulus bill from the u.s. government is more than the entirety of stimulus the u.s. government pumped in back in 2008 and also, this time around, we see something a little more steep, more sharp and probably a little bit more scary. for instance, back in 2008 i think the deepest contraction we saw was 8%. for the second quarter, people are expecting on average at least 10% contraction and also jobless claims for the week, we saw 3.25 million. at the peak of 2008 it was only 680,000. i guess people have really obviously very short-term scare by what's happening but as we get to april 30th for the opening of the economy and also another stimulus package, i

think investors could be encouraged by that. neil: right. if it comes to pass. final word on that. by the way, this measure of fear, there is a means by which you do that. the volatility index or vix has hit all-time highs and eased back a little bit. it's a very good representation that even at these levels, they are subjetubbornly high, a litt north of 58. that's a reflection that the anxiety out there is palpable. people who deal with anxiety and helping people with their anxiety are in big demand. we will meet one after this.

neil: all right. i do get a lot of e-mail during the show and a lot of people are saying you are trying to cast this as negatively as you can, cavuto, you're not helping out our president. others are saying you're doing everything you can to stick it to democrats. i just want to be very clear on my policy when it comes to this.

i don't care about how this politically helps or hurts either the president or democrats. i'm not interested in their political fortunes and how they ride this out. i'm interested in you. i'm interested in the kind of things that are happening right now that go beyond politics like a virus. i don't care who gets the credit, who gets the blame, who should have known what and when. i am interested in where we are now and whether any of this hell, be it from democrats or republicans, from those who are conservative, those who are liberal, from those who work at the white house to those who work in the capitol, how are you addressing what's happening on busy convenievenues that used t super busy, i don't care about politics, my friend. if you want that on the left or the right, look elsewhere. i'm not going to get into it. i don't care about it. i don't care who gets credit or blame. i care more about following this virus and its machinations and how it stretches. i figure by keeping the politics out and not assigning blame or

victory to either side, i'm going to stick to the facts that matter to you, the financial issues that matter to you, the stimulus and relief that matters to you, the course of the disease that's killing people all over the world, that matters a lot more than who is gaining political credit, good or ill. i just want to be very very clear about that. you can assign whatever motives you want. my only motivation here is news, information. i do not care who politically scores on this. plenty of time for that later. it will not happen on any show i do for this network, for fox news, at all. ever. ever, ever, ever. all right. just so you know where i'm coming from. speaking of which, when you are looking for the idea of a fourth sort of stimulus package down the road, the read from steny hoyer, the number two in before monday, april 20th. he's on the wires now saying they are not going to even meet

in the house until at least that time so again, if there is to be a fourth wave of this, it will have to wait a little bit. there's already a lot out there. the $2.3 trillion package right now, the $100 billion package before that that was meant to help certain industries that widened considerably with the $2.3 trillion package and don't forget the $8 billion package take went to health care workers. that was a source of a lot of prior bouts of stimulus or relief. you will have to hold back a little to see what happens, if it happens, for a fourth. again, those are numbers and that's relief. it has nothing to do with politics, nothing to do with republicans or democrats. it has everything to do with you and the kind of information you would need and do need because i suspect a good many of you really don't have a conservative take on this or liberal take on this, you are human beings at your core and the same blood runs through all of us, and the

same concerns run through all of us, and if people are out to any favors and it's not going to be accepted here. i will get off my soap box. i just felt like doing that. it's not a soap box. it's a very comfortable chair. anyway, we have darby fox joining us, a family therapist who knows of what they speak because stepping back from this, that's what i meant to say, i think people are scared, period. it has nothing to do with whether they are republican or democrat, conservative or liberal. they are scared and anxious, worried for their families, worried for themselves, worried whether they will ever get back to work and back to anything approaching normalcy. what do you tell them? >> so people are scared and any time we take away predictability or accountability, people do seem to get scared. what we tell them is okay, you can't control the external world. we don't know exactly what's going to happen and when it's

going to go back to what we consider normal, but you can control your daily life and what you do every day. that is what we really want people to focus on is a schedule, get up at a certain time, don't let everything just go by the wayside. have a certain order for each day and then you do feel like you have some control. neil: i think it is about our discipline. i used to marvel at people who worked at home and had the discipline to stick to a schedule that didn't include veering to the refrigerator as i would do. i guess that's important, right? you want to try to get some sort of constancy in your life and stick to that, don't you? >> you do need the constancy. structure is very important. in fact when we think about trauma, what creates trauma for

people is the lack of control and predictability. so what we can do right now is we can control those things. we don't want to be super hard. it is different, it's stressful so give yourself a little break and go to the refrigerator more often than you would normally, but also go back and sit down at your desk, make a list of what you want to do each day. now that kids are mostly going to school online, we want to keep them on a real strict schedule with that. that will be interesting but it is important to have that. it gives everybody a piece of you feel you're okay if you have something to do. neil: yeah. if you share something, it is something we are all sharing, two-thirds of americans are under this sort of stay-at-home thing and some are more stringent than others. maryland, the latest to do it here. there is some camaraderie in that. maybe we communicate more via skype or phone, whatever, right?

>> there is a lot of -- i checked with a lot of my clients in the past couple days, like what is it like to be online with school, and there's a huge difference from school district, from town to town of how people have pulled this together quickly, but i think the most important thing there is that you really want to engage the kids in the process, give them a little structure, but also give them a little break. teach them the things that are happening now that are historical that we haven't seen before, buy into the pieces that are new like okay, what are you learning about coronavirus, how will this impact your life. economically kids in high school never look at anything like that. let's teach them a little bit about the economics. there's all kinds of upside and people are actually having quite a bit of fun with connecting to facetime, parties where they get to see their friends or whatever. there is an upside to that social piece that i usually say

don't use your phone. now i'm saying go ahead and do facetime. neil: that's what alarms me, too, because i'm doing that with my teenaged sons, go ahead, phone whoever you want. it's surreal. these are the times in which we live. thank you so much. we needed to hear that. all right. judge andrew napolitano, we always need to hear from. let me ask you a little about these requirements that are getting more stringent and widespread among the states. maryland the latest to say the lockdown is in effect. we know a lockdown technically means you are closing roads, bridges, tunnels, that sort of thing, but we get the idea. it's strict enforcement of people staying at home or close to home and more and more states are doing it. what do you make of that? >> much of it is in direct violation of the constitution such as governor raimondo of rhode island stopping automobiles that have new york license plates and turning them away. that violates your right to

travel and interstate commerce which is expressly guaranteed by the constitution. and now mayor deblasio here in new york threatening to shutter permanently churches and synagogues that persist in holding religious ceremonies. these are profound violations of the constitution. the only person that i have heard who is using the language properly is the president when he refers to all of this as guidelines. that's all they are. they do not have the force of law. andrew cuomo is brilliantly using his bully pulpit to educate and intimidate, but the decrees that he has issued cannot be backed up with arrests or fines or other punishments because these decrees are his and under our system, only the legislature can enact law. but i think he's doing a great job of making us aware of the dangers around us. so in new jersey, some crackpot was arrested for holding a

coronavirus party. there were 47 people at the party. he's out of his mind. but he's not a criminal. and it's not the basis for an arrest. if these people are crazy enough to get involved in an environment where the virus is likely to pass from one to another, that is not for the government to make a crime. if it is, it's got to be done by the legislature, not by decree of the governor. so i don't know where this is going to stop. neil: what is that action, judge? what if that action is deemed to be a public health threat? >> then that would have to be deemed by themurphy, cuomo, can't make up something, however well-intended it may be, and say this is the law now because in america, the legislatures write the law and the governors enforce the law. if the governor could both write and enforce the law, he wouldn't be a governor, he would be a prince. neil: all right. you are a prince.

i want to thank you very much for helping out. >> i loved you on your soapbox. can i hear a little more of that, please? neil: that's fine. you know, some people say nasty things. you know, this aere are some pe who think i'm overweight. can you believe that? >> you should hear what they say about me. neil: that's just me e-mailing you. judge, always the best. thank you very much, my friend. well, while the judge was talking we got confirmation that the japanese have already outlined when next year's summer olympics are going to be, almost a year to the day later than they were supposed to be. that we know. we know that so many other sports and events are canceled or postponed. we know as well that major league baseball is looking to eventually start playing again and the trouble with starting so late is they could be having the playoffs or the world series closer to christmastime than halloween. the former miami marlins

president david samson with us now. david, i know they are still dotting the is, crossing the ts. there's so much we don't know about people returning to normal lives. obviously major league baseball can't handicap that. but we do know that it is considering and players are on board with playing well into november, if not later. are we ready for that? >> yeah, i think that was one of the big parts of the agreement between baseball and its players. everyone wants to play as many games as possible once games can start, because then players get paid a higher percentage of their annual salary and owners get revenue as a higher mer percentage the more games that are played. there was a commonality of interest at least in that regard. neil: what will the effect be on baseball? it would have to be a truncated season even if it goes that late, maybe 140, 142 games but even that might be optimistic. how does that play out, how do

the playoffs go, then there's the issue of cramming people into stadiums and whether they will be up to that even long after this is gone. what do you think? >> so the regular season is supposed to be 162 games. the reason why baseball has so many games is that it's very hard to hide during the course of a long regular season. the better teams, the best teams end up on top at the end more often than not. when you have a truncated season which this season will certainly be, the advantage goes to the teams who really aren't as good as the upper tier teams but have a chance to be hot for a short period of time to start a season. as an example, the world series champions last year, the washington nationals, were close to firing their manager in may. they were 12 games below .500 and then got hot and won. in a short season, there's no time to get hot. you have to start hot. so if you are a team like the dodgers or the yankees, it's a

huge disadvantage to have a shorter season neil: you know, i would be curious, david, when you look at the landscape for all sporting events, and they will eventually resume, i had john tapper here of american bar rescue, he said he thinks it's going to be a big change in how we gather as a society, whether at restaurants, in half the seats that are available, whether movie theaters, not, you know, not as packed as they were in the past and again, as i mentioned at the outset with you, in stadiums, that people will be leery for awhile of crowding into venues like that. wouldn't that >> we all crave normalcy. we want to return to normalcy. the question will you act more like a germaphobe, or not going

out when they're sick, all the things we took for granted? how will sports leagues adjust if there are fewer fans want to attend games? i think it is more a disposable income issue, than i'm scared of sitting two inches away from a guy drinking beer issue. what we have to see in all sports, when will there be a level where we can then say, sports is back to normal? often sports leads the charge back to normalcy. in this case i think it is going to be a lagging indicator that is a concern that will eventually trickle down to the players and will impact salaries going forward, maybe even ticket prices. neil: david, thank you very much. david samson former miami marlins president. we have scott mcneil. the more immediate impact on bars and restaurants forced to shutter, and bartenders and the like who have been forced to the unemployment line.

there is something being done, this next gentleman is the american distillery is chief operate are officer. one of the ideas bandied about, online the bartenders and specialty drinks can showcase their stuff and you can even pay them online. how does it all work out? >> well of course with technology, facebook, you have instagram live and they can receive tips, virtual tips on venmo. we call it virtual speakeasy. we're doubling down on social media. there is no recourse for any bar tenders to bring in any kind of revenue right now. neil: so how does it work? they can showcase some of their great stuff and online, you can virtually even tip them, how does that work? >> it's the way social media is today. they have their own personal account, instantly, especially the younger ones, they kind of

know each other. they know the bartenders. they have been going out night after night. a way to learn craft cocktails and our drink and features. you see behind us. we have a beautiful setting. when you put al of that online it, still drives the social aspect, virtual togetherness people are missing. neil: you know, scott, i asked the prior guest, jon taffer, talking about how this whole thing will change our behavior long after the virus goes away. they will be spread out more, bars, restaurants won't be as crowded, is that a worry? >> i don't think so. everybody is concerned about even small amount of people together, you can barely contain it. once it is over, people will want to come out, a night, springtime awakening. people want to share their survival, their experiences together. that is where the bars and restaurants will come in. my wife has made 100 great meals

but she is ready did to go out for a fine steak. neil: i hear you on that. nothing wrong with my wife's cooking. just wanted to stipulate that. scott, thank you so much. i appreciate it very, very much. charles payne is back with us. so all is right with the world to take us through this crazy world. charles? charles: neil, thank you very, very much. i'm charles payne. this is "making money." breaking right now, stocks moving higher on the day as we look, leggen, we could have substantially lower day. what gives? there are different kinds of bear markets, this might be the kind that has the shortest duration. the last few trading sessions of the rally have been impressive. just maybe, just maybe we've hit a bottom last week. i will ask some of my favorite experts about that. also president trump extending the day for reopening the country. take a listen. >> we just want to do it right. we picked thend