of quill intelligent former teligent and former fed insider daniel de martino both thank you both for joining us today. thank you. and as markets real over reports of the surge in corona virus cases let's take a look at the global trends and spread of the crow virus with our chief correspondent saya tablet or no so we know that nations are doing everything they care to fly in those curves but how well are they doing right now or brand some are doing better than others and others are just starting to see a surge in cases now the u.s. and brazil are both doing worse followed by india and russia not countries that are looking better and are illustrating that they are flattening the current are spain u.k. iran peru and chile and mexico but there's something else that i want to i want to take a look at that amongst the countries with the highest reported cases now for example of the u.s. with a population of 330000000 and they have conducted over 20 $9000000.00 tests now that's $90000.00 that's about $90000.00 per $1000000.00 population of the u.k. and russia have conducted a lot more test

to break it down is chief strategist of cool intelligence and former federal reserve insider danielle de martino danielle good to see you thanks for coming on. nice to be here today now i want to start with this break this down and what are these numbers look like why why why why are the markets surging. well i this came as a tremendous surprise i'm using the president's favorite word this came as a tremendous surprise to the to the markets and to all economists for that matter no single economist was expecting the best one was negative 800000 we got a gain of 2500000 jobs along with a big asterisk from the bureau of labor statistics that said the margin of error is somewhere in the neighborhood of 3 percentage points on the unemployment rate that goes far to explaining whether or not they're having some difficulty in measuring the individuals who are on the paycheck protection program and whether they're in or out of the labor force so but again markets were not expecting the gravity of the goodness of this number and they rallied hard on it i suspect there were also quite a few people who were

break it down is chief strategist of quill intelligence and former federal reserve insider danielle de martino danielle good to see you thanks for coming on. nice to be here today now i want to start with this break this down what do these numbers look like why why why why are the markets surging. well i this came as a tremendous surprise i'm using the president's favorite word this came as a tremendous surprise to the to the markets and to all economists for that matter no single economist was expecting the best one was negative 800000 we got a gain of 2500000 jobs along with a big asterisk from the bureau of labor statistics that said the margin of error is somewhere in the neighborhood of 3 percentage points on the unemployment rate that goes far to explaining whether or not they're having some difficulty in measuring the individuals who are on the paycheck protection program and whether they're in or out of the labor force so but again markets were not expecting the gravity of the goodness of this number and they rallied hard on it i suspect there were also quite a few people who were bett

of quill intelligence and former fed insider daniel de martino both and host of economic update professor richard wolfe thank you both for joining us today that professor wolf i want to start with you here what do you make of this latest global forecast from the i.m.f. is this what you are seeing in the world's economy or do you think it might be much worse and what are you looking at when it comes to recovery. no i think my hat goes off to the i.m.f. for being able and willing to correct their own there now we can see room g 8 projections and to take into account i was serious. i'm in the relation of having to tell my colleagues here the united states that this is the worst collapse of capitalism since the great depression of the 1930 s. we don't know how deep it will cut we don't know how long it'll last or one thing we know for sure is that it is already the most severe contraction and if history is any guide the ramifications of that with us and hurt us 3 years to come. no danielle the i.m.f. chief economist also spoke about the role of central banks in fighting this economic crisis a

of cool intelligence and former fed insider daniel de martino both you know i want to start with you here what are the latest takeaways from the fed and did it meet investor expectations for what they wanted to hear from drone power. i think that investors have to be happy with what they heard today that the fed is expecting for gross to resume 2021 but at the same time to to quote here pal the fed is not even thinking about thinking about raising interest rates which is kind of a goldilocks scenario we're going to have a return to g.d.p. positive g.d.p. over there over the next 12 months or rising or so unemployment is going to come down but the fed's not going to think about raising interest rates which should keep animal spirits that are really propping up the stock market going he's been he's saying in no uncertain terms i am not turning off the printing press so that should definitely have pleased investors which i think we saw with the way the nasdaq closed at the very least christi what data points you think the fed is monitoring here at this point to gauge whether or not to c

so high right now and a lot of other companies contributing like boeing former fed insider danielle de martino both thank you so much for your time thank you. the back and forth between the united states and china over commercial air flights is hitting a new high there is a china said it would ease coronavirus restrictions to allow in more foreign carriers shortly after washington said it planned to bar chinese passenger airlines from flying to the united states by jews june 16th they are attracted this but meanwhile shares of american airlines group soared on thursday after the airline announced plans to rebuild its summer flight schedule a sign that demand is slowly recovering after collapsing more than 90 percent in the past few months well joining us now to break this down is been less educated ben swan than give us a summary here of this back and forth between washington and beijing you have been kind of crazy the rate of escalation look there's been a lot of tension between the u.s. and china on a lot of issues as of late but this one it escalated very quickly in the deescalated almost j