hello again, david wessel. so how are we to interpret all of this? we see the markets todayng reacnegatively to news that the coronavirus rising in a number of states, an we see unemployment, we see unemployment continuing, but better than it had ben in recent months. what direction do we look when we see thebers? >> i think it's important tose rate the markets from the real economy. nearly 30 million people ar checking unemployment, that's nearly 20% of the workforce. that's good, because even though people are out of work, they have some income. but it's going to be a long, slow cliout of this covid recession. i think what happened in the markets is therkets basically overreacted initially, stocks fell 30%, and hen we had a euphoric moment. stocks recoveredll their lost ground, and then the last couple days they have given up 10%.to so the market is now 10% lower than it was before covid and that seems to me about thepl righe where it should be. >> woodruff: and then we have as we mentioned the chairman of the federal reserve, jay powell, saying he

david wessel, thank youo much. >> you're welcome. >> woodruff: the killing of george floyd has led to reckonings not only here in the united states, but in many countries around the world. nick schifrin is back with that. >> schifrin: from madrid... to tokyo. from sydney... to seoul, george floyd's death sparked a worldwide reckoning. >> i think it's important that we're doing this even in koreakn because you , racism is a global issue, it's not just an american issue. >> schifrin: in the birthplace of the enlightenment, french demonstrators chant no justice, no peace. they say france also struggles with police miscduct and discrimination. three days after a minnesota police officer killed floyd, a hfrench police officer ke knee on a black suspect. but that treatment often happens off-camera. these protestors chant adama traore, a young black frenchmen asphyxiated in police custy in 2016. no officers were charged. >> and he's not the only one. you have several young french blacks, or arabs, who died in the hands of the police. and i think that george floyd's death echoed the very loca

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on the economy, david wessel often says when the economy has gone -- the outlook on the economy has gonehe icu, which is bad and that's essentially what steve liesman was just summarizing j. powell said yesterday. i think that's important to under. we need to recognize some good things are happening, which is great but we need found we're still way below where we need be to recover and as a consequence of which i think that we probably -- i think you'll recognize jason furman said it this morning is that a lot of what happened in terms of improvement of the economy particularly around retail spending and jobs which is two good numbers we had, which have been largely so far as a consequence of the policy actions that were taken around stimulus checks, ppp loans and unemployment insurance so the policy has worked and continues to work. i think that both that jason and jay made that we need to do more as this economy continues to falter in the absence of real slugs to the health care crisis and as a consequence of that, slower return than we might desire the people to work and to consuming.