we are back with jack ablin and jay bryson.you look at some of the modern monetary theory policies, this is something that was 20 or 10s pretty nuts years ago. are we going to start talking about these kinds of theories again, mmt? jack: i think so, because quantitative easing was also similarly derided early on and proved pretty successful in achieving the fed's goals. i think modern monetary theory is the next step. money, building bridges, building hospitals, whatever is out there on the fiscal side. i do think that is next and part of the reason perhaps we are seeing intermediate and longer term treasury yields rise as shorter dated treasuries fall. francine: do you think we will get a lot more talk? will we get some form of mmt? jay: it depends on exactly what we are talking about. does the united states and other countries around the world have fiscal space? the answer is clearly yes if you look at the yield on the 10 year treasury. is there a big fiscal response from the u.s. government? yes. could it continue for a whil

vonnie: jay walker, thank you. guy: thanks very much. jay: thank you for having me. chairman and ceo, and our thanks to bloombergs sonali basak. still ahead, our interview with house speaker nancy pelosi as the house takes up a historic stimulus package that has cleared through the senate. will it get through tomorrow? nancy pelosi is going to be joining "balance of power." this is bloomberg. ♪ ♪ live from london, i'm guy johnson, with vonnie in new york. this is "bloomberg markets." time now for futures in focus. let's talk to bob iaccino of path trading partners. i want to talk about what is happening in the crude market. all data points to the fact that we are going to see considerable slowdown in demand. plus, we've got what is already happening on the supply side. do you think the lows are in? is there downside from here? bob: good morning. it is difficult to say that the lows are in. you have to look at the perspective of the short-term shock we just got with the spr funding being taken out of the stimulus package. i don't think that was much. i actually learne

it's terrific jay is on board.n do everything he can but in the end why go out. >> i guess they are trying to preempt more market pain they are doing it right now. we'll see if it lasts. two, if this really is a demand shock, consumers stay home, housing activity stops, we don't know where it's going. that is a problem. that's something the fed responds to with lower rates. >> we know mortgage rates are above where they were when ten-year was at 2. we know the problem is if you got something that allowed you to get out of the hospital, anything, you won't need this rate cut the more important thing we need people to be able to stay at work there's a lot of people that can work at home another group of people if they work at home, it's deadly. i want to see what the claims are. >> steve is still with us. what about the critics who are certain, i assume, would say this cuts the ability to really respond if the market tanks and we have a recession. given the president's relentless badgering of the fed, they are nuclea

michael: well, that is going to be a tough communication challenge for jay powell. you had to think that the decision would be difficult to make because they are committing to low rates, even lower rates now, forever, basically. you can't come up with a situation except an outbreak of inflation that nobody can see where they would be raising rates. they are going to be forced into keeping rates at this level. with all the problems that you get, trying to transmit monetary policy into the economy near the zero lower bound. vonnie: i want to do a reset because we've had quite the phenomenal 25 minutes. at 10:00, the fed came out with an emergency interest rate cut of 50 basis point. they did a double cut, possibly the most that they could have done in an emergency decision. it turned stocks around. we have stocks in europe still higher by about 2% for the major indices across europe. here in the u.s., we had indices plus 2%,1% to almost and no back down to about positive 0.5%, or thereabouts. 1.0914%.ar yield at interestingly, we are seeing gold futures also rise high

that is the message jay powell reiterated today. what you are looking at is the response to unexpected developments with the hope that doing this will extend the expansion for the for siebel future. vonnie: matt bosler, fed reporter, thank you for jumping on that. i also want to thank our panel of carl riccadonna, chief economic at bloomberg economics, and marilyn watson from blackrock. many thanks to you coming on and spending all this time with us on an interesting day for markets. coming up, it will be super tuesday on "balance of power" with david westin on bloomberg television and radio. this is bloomberg. ♪ david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. the brief today is all about the fed. peggy collins in washington on what the fed did and why jay powell says they did it, and abigail doolittle with me in new york on the strong reaction in the markets. peggy, lay out for any

jay powell trying to smooth market functions. the 10 year yield at the start of cash trade. sliding 32 basis points. haidi: let's get a deeper look at the fed's emergency action. let's bring in mcquarrie group head of asian strategy. we are seeing the u.s. treasury dropping 32 basis points after the fed rate cut, cutting to almost zero and boosting is bond purchases, we could call it qe. jay powell did not want to put a label on it. this is certainly a whatever it takes moment. notes,in your been -- you are saying central banks will do whatever it takes to keep their heads above water. are they going to get much from the markets? victor: you are right. they are basically doing everything they can right now. can buy a variety of asset , they can have unlimited qe. they can start managing the yield curve. there are a range of thingshat could be done that the ecb and boj have been doing for years. but you are right, earlier in the year, i thought everybody would be doing just enough to keep their nose above the water, but then coron

guy: did jay powell explain why this move will address this problem? he admitted this will not address supply chain problems, this will not stop the virus from spreading. peggy: it was clear the fed was saying we are doing what we can to create more liquidity in the system. banks continue to provide credit to small businesses. iswas clear today that it coordinated fiscal policy that will be able to help most in the situation in terms of the coronavirus and the health policy. health experts will be what is inded in terms of the -- terms of helping a situation that is a public health crisis. guy: -- david: he went while out of his way to say this is not a political decision. at the same time, steven mnuchin was on the call. now we have the president saying that is nice but that is not good enough. peggy: that is nice. trump tweeted he thought the fed should cut even more. there was a hearing this morning where he seemed to be positive in terms of what the fed was doing. as jay powell said earlier and we are hearing from experts in the field, fiscal polic

jay caruso live for us in washington, d.c., always a pleasure. thanks, jay. >>> and still ahead, we are digging into new reporting that claims the justice department is seeking new emergency powers amid the coronavirus pandemic and lawmakers on both sides of the aisle are voicing their concerns. plus, what dr. anthony fauci is saying about the president's white house press briefings and what he's doing to keep trump's remarks fact-based. that is an uphill challenge. s fd that is an uphill challenge. 25% of your mouth. listerine® cleans virtually 100%. helping to prevent gum disease and bad breath. never settle for 25%. always go for 100. bring out the bold™ (past them because she didn't sknow they were talking to her.g and she would just walk right (deborah) i just could not hear. i was hesitant to get the hearing aids because of my short hair, but nobody even sees them. (avo) our nearly invisible hearing aids are just one reason we've been the brand leader for over 70 years. (deborah) when i finally could hear for the first time, i started cryin

jay powell and the federal reserve take action to shelter the u.s.my you can always watch or listen to us veli on the app. we'll be back in just a moment awesome internet. it's more than just fast. it keeps all your devices running smoothly. with built-in security that protects your kids... ...no matter what they're up to. it protects your info... ...and gives you 24/7 peace of mind... ...that if it's connected, it's protected. even that that pet-camera thingy. [ whines ] can your internet do that? xfinity xfi can because it's... ...simple, easy, awesome. [ barking ] >> it is grieat the federal reserve recognizes the weakness. this is like, wow, okay, 50 basis points i guess the claims are going to be bad now i'm more nervous than i was before >> welcome back. that was jim cramer yesterday after the fed announced the interest rate cut. the first largest. you can see the most recent three events go back to january 2008, october 2008 and yesterday. as a result, futures indicate a higher open today trying to make up for a steep selloff yesterday. those

jay, thank you so much. jay: yep. barb: thank you so much. lemonis: thank you. lemonis: okay, guys. it's now clear to me that kurt is as overworked and spread thin as barb is, because these really big things are slipping past him, and i want to spend some time with him to understand what's inside of his head and what's causing these problems. what's at stake for you if this doesn't work out? kurt: this is everything to us, but... lemonis: no, just to you. you're not a partner today, right? kurt: not on paper, no. lemonis: and what do you get paid there? kurt: nothing. lemonis: excuse me? kurt: nothing. i mean, at this... lemonis: what do you mean nothing? kurt: i don't... lemonis: you don't have a paycheck? kurt: i don't have a paycheck, any salary. lemonis: come on. how long has that been going on? kurt: 10 years. lemonis: you've worked for free for 10 years? kurt: it's a family thing. lemonis: no, no. no, no, no. no, no, no. how do you pay your bills? kurt: i moved back in with my dad. i mean, i can save money. lemonis: well, you don't have any money to save.

as i said earlier, jay powell cares a lot about corporate credit, knows a lot about corporate credit, being from a private equity background n 2018 there was two months in a row that you couldn't issue a corporate bond that led to the pivot that powered the market in 2019 we had seven days in the investment grade corporate bond market here where you couldn't issue a bond that led to the fed cutting rates. clearly it helped the market clearly it helped the liquidity in the corporate bond market now it is almost like today with the stock market dropping and the high yield going back to its wide it is like the corporate market pounding on the door again that the fed acted in the history of the last 20 years when after they do an emergency intrameeting cut they make another cut at the next meeting. i think that makes the most sense. >> what about from the fiscal side you are not the only one who suggests that that's needed. a conversation i had with a ceo of a very large firm suggested the other night is that the reason the market didn't like what the fed did is because that's all that it

jay powell seemed to contradict the president's idea of reopening the economy by easter.t will be a big challenge of course because the number of states are getting different opinions and different epidemiologists saying to be careful. we had the world health organization and g20 cautioning a surge in infections if you go back to work or school. to quickly. i'm sure this is being put to the test, but we have to see what happens overnight first. stimulus package, $2 trillion u.s. the house is democratically controlled, it might be a little more rancorous to pass, but donald trump is urging urgency on the vote and he would pledge to sign it almost immediately. we have seen how the markets have responded in anticipation. meanwhile, the situation in the u.s. still looks fairly dire u.s.se now we have infections surpassing china. more than 85,000 cases in the u.s. out of 531,000 globally. if you look at u.s., china, italy and spain, the four main epicenters, that accounts for 57% of the total worldwide. bit of a harbinger for other nations perhaps. not give up your precautions

richard: do jays sometimes think of it like us?ow researchers are using magic tricks to see how the brains work. this works to fin the food. when the peanut magically reappears, look at her reaction. she double takes, like a human it is research by a unique team at cambridge university. >> hide it under the cup.gist. the bird under this cup. thinking about it in terms of human beings. animals, too, particularly on like jays that hide food for a living, and there is a benefit in bng able to use trickery to maximize the chance that othsts don't eal their food. richard: magic tells us a lot about their brains. we tested word brains and we will test my brain. we always want to be one step ahead. in the next moment it is underneath the cup. using memori from the past to anticipated future, regardless of what our eyes are telling us. >> i don't know if you see the reflection inside the cup itself. richard: that is why we get tricked. >> one of the interesting things it tells us about the birds is they are convinced something strange is h

anthony demaria is jay sebring's nephew. >> at a certain point watson turned his back and jay chargedhe was coming to him. and then watson and krenwinkel started stabbing and kicking. >> sharon tate quite naturally is screaming. krokowski and folger break out a side door. krenwinkel and watson chase after them. >> soon, everyone was left for dead, except sharon state. >> she's begging not for her life but for her baby's. susan atkins says, "bitch, i have no sympathy for you" and she's slaughtered. >> then susan atkins wrote the word "pig" in blood on the front door to make sure cops would connect these murders to gary hinman's murder. >> they arrive back at the ranch. charlie mans ons waiting for them. what did you do? tell me about it. and they tell him. and he's furious. from their description, he doesn't think they've left the house appalling enough that it will get the attention they want. >> so, said gwynn, manson himself returned to the house and draped an american flag near sharon tate's body. >> manson with his sense of theater thought that would be the thing that would really

san jay, three nursing homes many one state. in a state we have been talking about with the number of cases. in seattle. is that coincidence? >> it could be. but i don't think it is. the first patient diagnosed nd this country was in this area january to 20. they looked at the virus and the signature of that virus is very similar to the genetic of the virus circulating now. frankly that virus is probably circulating in that area for six or seven weeks and if you try and figure out the number of people affected it's probably in the 1 hundreds. older people are more vulnerable. >> how likely is it that additional nursing homes will see more cases and obviously we don't have a ton of tests. that we'll keep seeing this jump? >> it's most likely we'll see more spread in the nursing homes. patients are often eating together. they are close together. the nurses go from room to room. there's been no protection in terms of trying to prevent the spread. it's very likely we'll see more cases. >> outside of severe isolation practices which

what is he trying to accomplish with a comment like that, calling jay inslee a snake? >> he's distracting from his problem. >> the enemy right now is coronavirus. it is not jay inslee, and to speak to lonnie chen's point a moment ago about the whole of government approach and trying to speak with a single voice, the problem the trump administration is having right now to sort of cut to the chase is it can't do that because the president is saying things that are distracting from what would be the whole of government approach to this, not only within the trump administration at the political level, but at the career official level, and at the state government level working in coordination with the trump administration. jay inslee the democratic governor of washington and mike pence the vice president of the united states obviously on the same page, here's the president of the united states attacking the governor of the state over the coronavirus. this is a disaster for the white house from a public relations standpoint. you have a situation where what the president is s

jay, great to have you, thanks again, sir. >> thank you >> jay billas of espn. >> washington state, of course, among the states with the most cases of coronavirus how is business there being affected we're about to be joined by the ceo of washington federal regional bank based in seattle, the stock down 30% in a month. moments away from that press conference with the president expected to declare a national emergency. and we've got our eye on the stock market the dow currently up 600 points. we've paired some of those early gains or up 700 points "power lunch" is back after this . >>> now the latest from tradingnation.cnbc.com and a word from our sponsor. different sectors tend to do well during different periods of the economic cycle when the economy is expanding industrial and technology stocks have historically outperformed the broader market however, when the economy is contracting, more defensive sects such as utilities and consumer staples tend to outperform i'm lee and schwab is the betters place for traders. [ applause ] thank you. it's an honor to tell you that liberty mutual

jay johnson and to you, stay safe.in a moment, stay with us, we'll be back in two minutes time maria: welcome back. good thursday morning, everybody. thanks so how much for joining us. maria bartiromo. it is thursday, march 26th. your top stories right now, 7:3. the senate passed the $2 trillion coronavirus stimulus bill. it is being sent off to the house. the wild road on wall street rolls on this morning. we are expecting the president's signature on that bill this week. futures still pointing to a loss at the start of trading this morning as we await the weekly jobless claims today. they are due out in about an hour from now, some estimates are as high at 4 million for jobless claims, this will give us a good indicator in terms of cutbacks at companies. jay powell saying we may well be in a recession, but there could be good rebounds coming on the other side. he went on to say the economic slowdown is an investment in public health. global markets are lower, european markets in the red following a pretty good rally

jay carney, i appreciate your time.ank you for all you do for your employees. >> thank you. >> quick break. we'll be right back. if you're 55 and up, t-mobile has a plan designed just for you. and, for a limited time only, we're making it an even better deal. now you can get two lines for only $55. that includes unlimited talk, text and data. with no annual service contracts. it also includes talk, text and data when traveling in mexico and canada. so if you're 55 and up, you can now get two lines for only $55. because at t-mobile, we have a plan designed just for you. when youyou spend lessfair, and get way more. so you can bring your vision to life and save in more ways than one. for small prices, you can build big dreams, spend less, get way more. shop everything home at wayfair.com (ashe just braved jea career changey. and now she needs the right ride and she needs to save money. so she came here, filtered by make and model, and was able to get a great price. truecar. buy smarter. drive happier. our mission is to pr

we'll have to see what happens over the next couple of months. >> jay, always a mrsh.nks. >> thank you. >>> new polls show joe biden with a commanding lead over bernie sanders. but first, one of the more heated moments from last night. >> you have been on the floor on the senate time and time again talking about the need to cut social security, medicare and veterans programs. is that true or is that -- >> no, it's not true. >> that is not true? >> that is not true. what is true is in terms of the negotiations taking place how to deal with the deficit, everything was on the table. i did not support any of thoughts coats in social security or in veterans benefits or -- >> whoa, whoa, whoa. everything was on the table. all right. you're right. you just said it, including, in your judgment, cuts to social security and veterans benefits. >> in order to get kinds of changes we need on other things related -- >> joe, you just -- >> but we did not cut it. >> i know. because people like me helped stop that. because people like m stop that. everyone living in your home on april

do jays think a bit like? now researchers are using magic tricks to see how their brains work.lly reappears, look at her reaction. she doubletake, like a human. research by a unique tea m a human. research by a unique team at cambridge university. a magician and a psychologist. show the bird the worm. then hide it under the cup. and then the bird, thinking it's under this cup, discovers however it isn't. at first we were just thinking about it in terms of human beings but then wondered whether it might work on animals, too. particularly ones like jays who hide food for a living and therefore there is a benefit for them in being able to use trickery to maximise the chance that others won't steal their food. one of the interesting things we are discovering about the birds as they are convinced that something strange is happening the first and the second time, but they cotton on like we do. they learn from seeing the world around them and investigating to the point where they can start to see through magic tricks. this magical thinking is rare in the animal world, only seen so far

jay jacobs, global x funds vice president. coming up, we are awaiting this press conference at the white house. we are told that attorney general william barr will be there. we will talk more about what lawmakers are doing right and may be wrong with former house intelligence share mike rogers. this is bloomberg. ♪ emily: health officials around the world are stressing the importance of social distancing. closing schools, shutting down work. bloomberg has learned that president trump is considering reopening the united states perhaps sooner than some expect despite the rising number of cases. we are waiting for this press conference to start the way out. as far as we understand it, where is the white house and the president's thinking on whether we are ready to reopen again when we seem to be still in the middle of a crisis? >> that is a difficult question -- he hasand one that been getting some advice from some right-wing economists in the inner circle that suggests they don't want the cure to be worse than the disease. they

joining us now for the interview is washington state's governor jay inslee. governor inslee, thank you so much for making time. i know you're very busy and not doing a lot of national press. i appreciate you being here. >> mm-hmm. you bet. >> so let me just ask you for your overview in terms of how things are in the state, and let me ask you about the resources that you perceive the state as needing that you don't have right now. >> well, i'm going to start with what we do have, which is a very united state that understands the seriousness of this. obviously we've lost 22 of our citizens already, and i think one of the virtues or strengths we bring is the recognition of science. we listen to, believe in, and follow science in our state. and now people are really united in all being leaders. it's one of the things i've stressed in this, this all of us can be leaders in following good decision-making of not going to work when we're ill, of washing our hands, of caring for our people who are most susceptible to this, which are those of a certain age and people w

then jay inslee on the outbreak in his state. later president trump speaking to reporters at yesterday's house coronavirus task force briefing. >> first of all, i would like to thank all of those who have made this extraordinarily possible in such extraordinary measures. -- extraordinary conditions. it is difficult to understand the degree to which the world has changed since the last time we met. in just the wink of an eye, a virus that appeared at the other corner of the world has become a pandemic, killing across the world, including here in europe, from one day to the next. our lifestyles have changed. we have seen the shelves empty, the doors closed, and we have moved from a daily routine to a fight for our life. at the moment, we have seen the way in which we have come so fragile and susceptible. we have seen a tragedy at the heart of europe at a scale that was completely unimaginable just a few weeks ago. my heart goes out to a of those victims and families. and we would like to pass on our best wishes to those who are fig

michael: jay powell said last night that we do not care what you call it. it is hard to separate this out from the moment from everything else they did, but over the period of time they are doing it, it will help hold out, particularly longer maturity. taylor: are negative rates in evitable at this point? michael: you get into a debate about that. in terms of market rates is where you might see, especially in the short and, negative rates in the united states. since i left here last night and came back this morning, rates have gone up a little bit from where they settled after the fed action. but negative rates are probably not going to happen in the united states. the fed does not want to do that. they do not think it is particularly well even in europe, and they do not think it will work in the united states because of the money market system. we have so many money market funds that will not be able to open if the fed went to negative rates. mckee, on topael of anything that central banks are doing. let's get straight to the berenberg senior economist, an

joining me now is jay forman, a coronavirus patient. jay, yesterday was her birthday. i had a chance to talk to on the phone. happy belated birthday. and i'm glad -- you're looking pretty good there, i'm glad you're out of the hospital, but you had a nasty fever for days on end. tell us about what happened and what happened than after the hydroxychloroquine nz pack. >> i got sick originally on the 16th, a sunday. i went to the hospital, i had a fever, a little bit of a cough and the doctor gave me motrin and a cough medicine and sent me on my way. so as i stayed home, progressively i got worse. by friday i was in bad shape, my wife says you've got to go back to the hospital. i go back to the hospital, they admit me right away. i had 102 fever, coughing, couldn't speak, couldn't breathe. it was terrible. and then i think -- i guess it was saturday morning they started giving me the hydroxychloroquine and z pack and four days later, my fever broke, i have basically no symptoms still. 180 turn around. >> laura: and you were released yesterday, jay come over today? >> i wa

jay, thank you very much.for being here. >> thank you, bye-bye. >> for more on all of this sign up for our nightly "reliable sources" news letter, sign up at cnn.it/reliable. >>> up next on the program, what happens when reality is more horrifying than the strangest fiction? i will ask best selling horror author stephen king. lls? flonase relieves your worst symptoms which most pills don't. get all-in-one allergy relief for 24 hours, with flonase. my age-related macular degenso today i made a plan which mwith my doctor,. which includes preservision... because he said a multi- vitamin alone may not be enough. and it's my vision, my morning walk, my sunday drive, my grandson's beautiful face. only preservision areds2 contains the exact nutrient formula recommended by the national eye institute to help reduce the risk of moderate to advanced amd progression. it's how i see my life. because it's my vision... preservision. i have moderate to severe pnow, there's skyrizi. ♪ things are getting clearer, yeah i feel fr

someone said, when jay powell spoke, the markets were not comforted. perhaps if bernie sanders does very well super tuesday, that might give investors another reason to worry. d.c. toame down to contribute to our coverage on super tuesday. it is extraordinary how little people seem to be thinking about super tuesday. would have guessed that is the second-biggest story of the day. i am curious, when you look at different asset classes, is super tuesday political risk a thing or is it getting totally swamped by the virus? still has to, it do with some of the stickiness related to super tuesday. on the other hand, i was talking to someone who was saying markets can only really freak out about one thing at a time. in terms of asset classes showing pain, the fact that the is up, ip -- vix think this is telling you that there is still a lot of embedded concern. that is a story perhaps for tomorrow, because we only really have futures telling us anything tonight. romaine: when you look ahead at the potential risk, what are the main indicators that you are kee

jay's got great tips things that you can actually do right now to feel a little bit better. >> we need heroes who are doing things big and small to help people whose lives have been impacted by the outbreak. we want to take a moment and give them some well deserved love and time in the spotlight we're going to do that in a few minutes. >>> and then the singing surgeon, we love this guy, he exploded on social media, spreading joy when we need it the most guess what the doctor is in he's going to join us live. >> yes. >> that voice of an angel. he's going to be with us we're excited to see dr. elvis. >>> but first, what do you say we get a check of the weather. oh, my gosh, al went outside. >> oh, hi, al, looks pretty out there. >> little bit of a winter wonderland out here. so still got a fair amount of snow hasn't quite melted yet. but it's nice. in fact, let's take a look at your weekend outlook so that you can socially distance properly but hopefully maybe get outside a little bit for tomorrow we're looking at sunshine in the northeast. severe storms through the central plains, snow

>> you've made powerful friends, kevin hart, jay-z, owner of the patriots, michael rubin with the 76ers. >> i feel like god put me in a position to be the voice for the voiceless. this is way more bigger than me. >> hello and welcome to "dateline." countless young musicians dream of fame and fortune. meek mill was actually living that fantasy. he went from rapping on street corners to rubbing elbows with some of the biggest names in hip-hop. then suddenly the rising star found himself in a spotlight he never imagined. what happened to meek mill and how he fought back struck a chord that had nothing to do with music. here's lester holt with "dreams and nightmares: the meek mill story." >> we are here today to demand justice. >> his plight sparked headlines around the world and protests in the streets. >> free meek mill! free meek mill! >> his case defining a cause for millions demanding reform, charging the criminal justice system is corrupt, that mass incarceration and a punitive probation system are unfairly ensnaring minorities. >> we're sick of a system that overincarcerates black an

jay howard assumed the seriousness of his father. one senator once quipped, a senator who did not appreciate him, that he not only talks like an affidavit, he looks like one. [laughter] he was a serious-looking fella, with some bushy eyebrows. this was a man who preached a sermon at the company's christmas party every year, insisting on why you had to use the king james version. a smart conservative, serious businessman and christian. and as a result of sunoco's rootedness in texas, its first kind of leverage would come, and saving the company would come from moving to beaumont almost immediately. and it would take a foothold there. it would then have a big hold of east texas. so even though it was based in pennsylvania, sunoco would become really the square dealer as opposed to the new dealer, the square dealer, family-run companies of east texas. so jay howard pew kind of assumed the role of wildcat political warrior naturally. what were some of the initial political victories? and here will take us to the present moment in the nex

the governor of washington state, he called jay inslee a snake.nslee had the opportunity to fight back on sunday. the administration is very shaky. jay inslee going out of his way to say the vice president is in charge now, it is better. >> right now the agency government is being diligent and helping our state. the vice president has been helpful in this regard. we are focusing on people's health and not on ballpolitical gains right now. that's what we need to do. >> it is interesting he went out of his way i am going to deal with the president later. and in an odd way offering support to pence at this difficult time. >> i think the package, one is the emergency package suggest that is actually they'll get it done but they'll come together and set aside some of their concerns. democrats drove a much larger package through the president's success. he had no problem with it. this will happen. really hard to think about this is the health response. not the test itself going to the hospital or e.r. or going to the doctor and probably does not have pa

people are working it's the people that aren't. >> i under jay, thank you jay foreman, basic fund.et to the judge >>> i'm scott wapner your money is front and center today it's all about stocks. whether you should buy them or not and the names some are suggesting you do grab today we'll debate what the our investment committee the question of the day is this, is it time to buy and if so what let's begin with the former, whether it is safe to buy right now to put som

pga tour commissioner jay monahan joins us in the studio. i'm anne-marie green. the "cbs morning news." . but we're also er fighting, hiv controlling, joint replacing, and depression relieving company. from the day you're born we never stop taking care of you. [ referee whistle sounds ] ♪ sport dr[ cheering ]s when you need the fuel to be your nephew's number one fan. holiday inn express. we're there. so you can be too. and look up to 5 years younger in 12 weeks... with new no7 laboratories firming booster serum. it lifts and firms so well...80% of women said procedures can wait. new firming booster serum from no7. >>> our top story this morning, a cruise ship forced on lockdown over the coronavirus is expected to dock in oakland, california, today. there are at least 21 people on board the "grand princess" who are infected. there are more than 3,500 passengers on the ship from 54 countries. those from the u.s. will be transported to military bases in california, texas, and georgia. the total number of coronavirus cases in the u.s. has surged to more than 560. >>

powell -- jay powell could step up jay should call. jay should have a press conference and say listen, we understand there's a lot of chaos out there, but we're not going to let the financial part of our country delay getting kits so everybody can be tested. we're going to make sure that you don't need to draft that credit line, but if you do it, we'll guarantee it and you'll return it after people are back at work. and that way we take it off the table. >> carl. >> and can lagarde make concurrent reassurances? >> i don't know why not. you don't want many companies filing bankruptcies because they have something that maybe will pass or be solved except then those companies will be in liquidation or reorganization. that's not the way our country works. our curreountry say it's all sym go everybody gets a test kit. it's hard to get test kits now, but testing, testing, testing. in the meantime, the federal reserve steps up and treasury steps up and makes it so your company can still pay you. and that takes something off the table that is

the move came after president path toid he has no demote jay powell, but could do so. fed pathetic and slow moving. here in new york, the city is taking drastic measures to curb the spread of coronavirus. threes are ordering the closure of entertainment shutters -- centers, shutting nightclubs. food establishments are being limited to take out and delivery only. the move comes as virus cases approaching 3500, with at least 34 -- 64 people having died. the latest economic data from china are worse than the bleakest forecasts. activity declined sharply in --uary, with many factory manufacturing and retail slumping for the first time. it's four times worse than forcing. retail sales plunged by more than 20% while the unemployed it rate jumped the highest on record. global demand for oil is in freefall, heading for the largest decline in history as the coronavirus further weakens already fragile consumption. fear that itowing may outstrip the recession of 2009 and may even outstrip 1980 and the second oil crisis. oil has fallen by almost 50% this year. global news, 24 hour

let me ask you, yo gotti, this has been something that's been going on now for months, and you and jay-zpped in with the lawsuit because no one can explain all of these deaths. we're not saying all of them are gang related, that they're allowed to do it on torture, but clearly this numbers raises the sense of peril for inmates that are there. >> like you said, 23, 24 deaths every two months. it's a big issue in america. the conditions that they live in, if you see pictures, video of the fearies on the floor, fearies in the water. mold on the beds, mold on the floor. just some of the pictures and videos you see, you wouldn't even believe it's real that their treated like this. >> and human rights activists, including me, have said attorney, that people who have committed a crime or suspected of a crime, you may incarcerate them but you don't treat them like they're not human beings and set them up or worse with torture, which is alleged in some cases, to be killed. >> for sure there are constitutional protections irrespective of what crime someone may have committed that landed them in ja

let's bring in in a fox business exclusive, jay farner, ceo of quicken loans. jay, thank you. when i saw that you guys were seeing historic numbers, my first thought was get him on. i know it's busy but give me your latest. how many calls have you taken starting last week? >> we are taking thousands, hundreds of thousands of calls. in fact, friday and through the weekend, we did something like $4 billion in mortgage applications. liz: $4 billion. what would be the norm? >> maybe 30%, 40% of that number. liz: are you hiring? do you have enough staff to be able to do this? >> great question. we are hearing across the board that capacity has been reached in the mortgage industry. in fact, a lot of small players took in more applications in the first three or four days of march than they are used to taking in in a month. people have been asking are interest rates going to go down any lower with capacity completely maxed out in most places. that's probably unlikely. for us, the way we built our business, we are able to scale quite quickly. we are still accepting mortgage applicatio

. >> reporter: washington governor jay inslee declaring a state of emergency after four people tested positive in the state. vice president mike pence leading the white house response. >> the threat remains low. >> reporter: u.s. is institutions travel restrictions to foreigner who is have been to iran and discouraging americans from traveling to italy and south korea. >> we want to lower the amount of travel to and from the most impacted areas. >> reporter: doctors say most people who get coronavirus will recover but people with underlying health conditions as well as young children and the elderly are at risk of dying from it. their advice, wash hands frequently and stay away from people who are sick. >> if you are healthy, you will probably go through a process and you'll be fine. >> reporter: the president will meet with representatives from the major drug companies monday to talk about the development after/coronavirus vaccine, something public health officials said could take more than a year to become publicly available. >>> three members of congress from california are demandi

jay? >> reporter: yes, laura and marcus, you're right, providing those test kits and economic stimulus for workers and businesses affected and right now on the hill house lawmakers are dealing with that. they say they are very close to a deal that they will move on to the senate. the senate has already said it will work through what was supposed to be a holiday week next week because of this pandemic. the president not ruling out the idea of declaring a national emergency which would free up billions of dollars. some help on the ground. the test kits have been a sticking point for many. getting those kits into the areas most needed and in the hands of those needed most. the u.s. officials have said they are lagging behind other countries, some testing 20,000 people a day while the u.s. 11,000 total. the president has tweeted about the situation that for decades the cdc had problems with the testing and knew that they had problems with distributing tests in these types of pandemic situation

jay gray, nbc news, columbia, south carolina. >> well, senator bernie sanders coming to the bay area tomorrow, coming to san jose. set to host a rally at the convention center's south hall. that can hold up to 11,000 people. sanders had been seeing an outpouring of support in california, especially among young and latino voters. >>> starting today and speaking of voting, all 110 voting centers in santa clara county are open. voters can cast ballots in the primary from 9:00 in the morning to 5:00 in the evening saturday through monday. now, on tuesday, super tuesday, centers open at 7:00, close at 8:00 p.m. >>> california primary just three days away. can you believe that? our website is a good resource as you prepare to cast your ballot. we have a complete voter guide for you highlighting issues in every bay area county. go to nbc bay area.com/election guide. >>> a busy day for firefighters and evacuations after this fire. about 2:00 today in the north bay, flames sparked near the maritime campus in vallejo. windy conditions among other things made it more dangerous. >> this time of

. >>> in the state hardest hit by the coronavirus, washington state, governor jay inslee is taking dramatic measures to try and slow the outbreak. he is banning gatherings of more than 250 people in the seattle area. health officials say at least ten long-term care facilities in that area have reported cases, and patients have died at three locations. jonathan vigliotti reports from the facility that is at the epicenter of this outbreak. >> reporter: this is how bridget parkhill and her sister now visit their mother who recently tested positive for coronavirus at the life care center in kirkland. how did you process that? >> it wasn't a shock t was positive. it should have been a priority to get everybody tested so they could get all the negative people out of here before they turned positive. >> reporter: but a shortage of tests meant only the critically ill were prioritized. at least 11 other long-term care facilities in washington including the josephine caring community now have infected residents or staff. >> the facility is in lockdown. so no visitors, no consultants, and no families.

governor jay inslee has to answer the question add does bear.ot of people in conserving. >> jay inslee has been adequate the administration. but interesting is that california governor, that's that's more losses against side trump administration of administration than any governo out there and it's not a fan of the administration, he had a private college president trump and said everything i could've hoped for, everything that he said they follow through on. richard, these governors on the front line of this thing, there are some praising this democrats ,. >> no one our praise the president because we have to have an effective leader to get us through this crisis. one of the larger problems of rehab and the white house is doing everything in their power to get in front of his making sure the people have access to tests. not the swabs but those actual test. saying yes, you are positive or no, you are negative. this is where the white house has been behind. i think the president's focus o economic impact instead of the human impact in that is ner

fed chair jay powell said he is prepared to cut rates if necessary.n japan meanwhile the boj offered to buy $4.6 billion in sovereign debt. when you look at what a lot of banks are doing, are they saying recession is very, very likely? >> certainly, the financial markets, turmoil of last week in tightening financial conditions. what you are seeing is central banks, led off by jay powell on that signal alert. friday, we get it. we are on it. the bank of japan and bank of england, very much on this. >> it looks like we are going to get a meeting tomorrow that could lead to coordinated fiscal action as well. >> there is nothing that cheaper money can do to cure any of us from a respiratory virus, but we have had an asset price shock. central banks can attempt to address that and they probably should. and that is what the markets will want to hear. >> quite a rally in the markets here today. today. 4.6 on the s&p 500. the gain on the doubt, the biggest since march 23, 2009. >> four more patients have died in the american state of washington. and a top u.s