and that it will intelligence former federal reserve insider danielle de martino danielle thank you for joining us today i want to look at having me and start with the employment now we're looking at a loss of about 10 percent of the workforce in just the last 3 weeks j.p. morgan saying that it could go as high as 7000000 now will it. i think that we will indeed see a 4th subsequent wave of 4th subsequent week because if you look at the most populous states in the nation we're talking about florida new york california as specially texas texas has a huge backlog of unemployment insurance the servers are simply overloaded georgia's come up in terms of states that are locking down after me after the east coast and after the west coast lockdown same situation with florida that unemployment insurance system simply cannot keep up and we know that is a portion of the labor force that these large states have a much lower percentage that are actually collecting unemployment insurance in other words the next 2 weeks we're going to see waves continuing to come through as these claims are processed

joined by tio and chief strategist for cool intelligence and former federal reserve insider danielle de martino danielle thank you for joining us today more stimulus actually is it going to help at this point are these packages even being deployed correctly or is all this just a little bit too late and extending the rope for a little bit more and just trying to delay the eventual crash that many people are expecting. well you know what's interesting is that if you look at the p.p.p. loans that were distributed from the original 349000000070 percent of them were for less for $350000.00 dollars 1 or less so it's apparent that the bulk of the day the demand was coming from very small companies even though we've seen some splashy headlines about much larger companies that have been able to get much larger loans so i think that i i'm hoping the government has learned its lesson that it needed a separate program for really larger companies maybe that is what the federal reserve's main street lending program will do but because the funds initially were exhausted you have to think that there's a backlo

of quill intelligence daniel de martino booth in l. always a pleasure to have you on the show. great to be here today so we talked a lot about this recently of these unemployment numbers were somewhat expected due to the economic impact of the corona virus but with technical recession possibly on the horizon do we expect things to go back to normal or are we going to see these declines continue. well so it's interesting i've been following very closely google searches because it's very difficult to get your hands on real time data and when time has compressed to the extent that it has i mean every day feels like a week every week feels like a month things are moving so quickly but if you follow google trends and searches for unemployment insurance we've seen one huge wave followed by a 2nd huge wave followed by a 3rd huge wave that's even bigger the implication is that next week's jobless claims could be as bad or even worse than what we saw on thursday so i'll put this in context at around 10000000 nearly 10000001950000 on unemployment insurance you're talking about one in 16

of quill intelligence daniel de martino booth in blue bus co-host christine thank you both for joining us today now i want to start with you on this fed decision the fed as actually now pleasure additional actions and lending programs as the economic conditions have worsened what are the tools do we really have to work with here after that you know near 0 interest rate. well you know in the press conference chair powell said that if the size of the facilities that have been authorized thus far are not adequate if they're not big enough that the fed actually has 0 impediments to grow them as much as they want he drew a parallel to the p.p.p. program the 1st of which was capped at $349000000000.00 for example and said that unlike the cap that congress puts on certain facilities that are working through congress through the small business administration that the federal reserve is not impeded by any such limitations and that they can grow these. that eases as much as they possibly need to until the economy's on a self-sustaining path and now dale i mean that brings me to this point what i