feel safe enough to return to work so there are a lot of open questions and then as fed chairman jerome paul mentioned on wednesday at a video conference and he at least believes that we also could see some bankruptcies from u.s. corporations and that would actually slow down the recovery from the u.s. labor market the only good news is that those claims at least that you claims they slowed down a bit but still those numbers are clearly shocking more than 36000000 people now let's shift to delta we just talked about the airline nixing the triple 7 it's throwing everything that has into cost cutting just like other airlines will it be enough to save these major flyers. the big question is what will happen in fall because so far there is still some governmental aid. to tens of billions of dollars in aid but that program will actually end september and the big question is what happens then delta itself has a better capital. for then we see it was some of the called petter tours and actually delta is saying that they hopefully will have 0 cash burn rate of by the end of the year right now they'r

. >> what do we expect when jerome paul and steve mnuchin testify?the fed chief is going to say we've wiped away a decade of jobs gains. we haven't had a crisis like this since world war ii. he's going to say that people put their lives and livelihoods on pause to great personal loss and that suffering in the -- for the public good needs to be acknowledge and we need to do everything we can to help these families. we'll hear from the treasury secretary about all that money that's been spent and what good it is doing to help small businesses, to help state and local governments and how they're spending that money. there will be a lot of scrutiny about how they're spending that money. >> i want to bring in julia chatterley. julia, you know, people were very interested on sunday night on "60 minutes" in what the fed chair jerome powell had to say. they got huge ratings. one of the things that he said, maybe you can explain this, the central bank has more firepower, there's more that they can do. is this a bottomless well? what was he saying? >> yeah, he

of the corona rahbar and we're already seeing that at the grocery stores but now dr paul federal reserve chairman jerome powell has repeatedly said that the interest rates will stay low indefinitely and that the fed will do whatever it takes to get the economy going and running again he also said that negative interest rates though are not part of his tool kit that he plans to use during this crisis many analysts are now saying that that's a matter of time not if do you agree that negative rates are actually inevitable. well you know they're all calm and but you know do. the brits just did it and we'll do it in the plan is there no matter what powell says doesn't matter because it's going to come but it's obviously a sign of how ridiculous foreign policy is because his dotage it's it's a confirmation that we've had total destruction of the purpose of interest rates the purpose of the interest rate is to guide a free market economy because it should come from savings but for decades now it's personally been created the so-called capital been created in. you know from a from a computer and that's why we'v

$30.00 there that's according to the chairman of the federal reserve jerome powell in an interview with c.b.s. news program 60 minutes paul said the united states would only fully recover after a vaccine was available cautioning lawmakers against reopening the economy too soon . your mom would have to reintroduce the social distancing measures and then you would have another downturn and that would be bad for confidence. so that's a risk we really want to avoid you know the virus hasn't gone away the reason that cases have gone down and are declining is because people have been in their homes and not in their businesses and not out among the crowd. has more on this he joins us from new york against a 30 percent contraction of the u.s. economy that's staggering did the federal reserve chairman suggest what the implications of that would be. well at least what the chairman said is that he doesn't not believe that we will see a depression like scenario that we saw well 100 years ago and the reason why is what is the difference between a recession and what is the difference between a depression it's basically the duration and

paul richards of mentally global advisors. we want to give you an update on the headlines outside the business world. here ritika gupta with first word news. ritika: federal reserve chairman jeromeys the central bank is prepared to use its full range of tools, and plans on leaving the benchmark lending rate near zero until the economy is back on track. those are some of the remarks prepared for powell's virtual hearing today before the senate banking committee. president trump is taking the anti-malaria drug he promoted as a treatment for coronavirus infection. that is despite government warnings that hydroxychloroquine can cause serious side effects. the president says he is big on the drug -- says he has been on the drug for about a week and a half. pence's --- vice vice president mike pence's press secretary tested positive for the virus on may 10. teachers are demanding clarity over plans to reopen schools next month in the u.k. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. thanks so much. stay with u.k. for a second. want to focus on one re