jerome powell told lawmakers the central bank will never declare victory on the first one. d, we aree de progress. on the impact of the virus on the u.s. economy, powell said the question for the fed is weather effects will be persistent and material. on the persistent and material, the market pricing a rate cut from the fed while powell seeming to suggest the fed is on hold, is that the market expecting the coronavirus will have a persistent and material impact on the u.s. economy or just that probable will changes narrative at some point? >> i do markets expect the lastingrus to have impacts on the economy. it's impact on the u.s. industrial economy is very little. actually quite beneficial to consumers. thatnk the narrative is the fed should keep interest rates on hold. markets are expecting a more dovish central bank, but i think with this current economic environment, the strong labor market data we have seen last the, and also generally u.s. economy is doing quite well. i don't think they really need to ease policy much more this year. seeing there still proverbial inf

economy is also in the spotlight, with jerome powell testifying before congress. hampshire primary gets underway later today. this is the second test for democratic candidates. thank you very much. finance leaders are gathered from around the world here. joining me now is one of the leaders of banking. very good to see you this morning. some say in to not expect a quick rebound. what is the biggest possible complicating risk of the coronavirus? >> i think it is the supply chain. it will affected severely. assume that businesses that were affected will need to look to change the dynamic. dependentoo heavily on china being more diversified. this could slow business investment. manus: what is the biggest risk right now? we are backstopped all the way. what is the kinder side to that trade? >> the biggest risk is the consumer becoming less confident. u.s. economy has led global growth. if consumers all become less confident, if they start losing jobs, that can create a slowdown which will drag the economy into a recession. manus: but we are pretty far away from that,

jerome powell will be speaking later.ary daily speaking in the last 48 hours talking about the u.s. company once again. american exceptionalism. a lot of cool people supporting this week. let's have a quick look at what's going on at the asian session. japan out of action. don't have the japanese markets open. .6 of a positive up by 6 1%. the ones that are open looking more positive in asia, the hong kong market up by 1.1% as you can see. we've got oil prices as well. >> from opec and friends and trying to set up any kind of meeting. 53.93. our top story the coronavirus death toll has topped 1,000. infections surpassing 43,000. china's province which is at the epicenter reported the highest numbers of fatalities. . two health officials have been removed from their post. -- dent x exs i exmbs i president xi xi ping. we can make it cooper. macro strategies here with me on set in london. we're also joined by the latest on the virus itself by bloomberg tv an or the steve mckenzie. >> we went through a few of the latest headli

slight frights, all day long, have markets pulling back from fresh intraday highs but scares from jerome powell, boeing, the federal trade commission and the coronavirus still not enough to trip up the bulls as we head into the final hour of trade. the nasdaq and s&p 500 still on pace for record closes. stay with us the whole hour and you will see it happen. possibly. but if you have to pick one of today's warnings, it may very well be the deadly coronavirus outbreak which killed more people yesterday than any day since the virus appeared. the human toll followed by the business issue as global supply chains rupture right and left. we've got the trump administration's man at the helm of global economic growth, keith kroch, here in a fox business exclusive on how he sees growth playing out in america as it pertains to the world. >>> even as biggest names in mobile cancel their flights right and left to barcelona for the massive mobile world conference, samsung bucking the trend by going full force with its unpacked event. we will take you there live. it's in san francisco. spoiler alert, samsung

fed chair jerome powell wars the coronavirus outbreak poses a risk to the global economy.resident xi vows china will meet its economic goals, despite the threat. softbank returns to profitability in its third quarter. it also pledges better governance standards as the vision fund marks a 2 billion-dollar loss. leaving on a high. the heineken ceo exits with good grace. justll speak to the cfo after 7:30 a.m. london time. let's have a look at where we are an hour away from the trading day. this is the picture for futures are now. european futures point to the upside. foots are's test futures on the ftse 100 up -- futures on the ftse 100 up. let's have a look at u.s. futures. we see a fairly buoyant picture. ta of the trading day. we have a few things going on here. we have a focus on the coronavirus, but also questions being asked about what asian central banks can do about it, how much firepower they have -- or not questions being asked, assumptions being made, perhaps. let's have a look at where we are through the trading day over in asia. things looking mixed to positive,

jerome powell said the fundamentals of the economy remain strong, but the coronavirus poses an evolvingisk to economic activity. powell said the fed will use its tools and act as appropriate to protect the economy. gregg: members of president trump's task force and talks about the white house emergency request for $2.5 billion are accelerating. they hope for congress to pass that request early next week. the money will be used for research and medical equipment such pass fac facemasks. reporter: the white house considering using a 7 odd-year-old law to -- a -- a 70-year-old law to require companies to make the masks as well as other protective gear. alex azar said the coronavirus test kits are being sent to states. private labs will also help. >> we also will very soon through the fda be rolling out streamlined guidance that will allow private labs to create their own tests based on the recipe the cdc has used. reporter: there was a statement by federal reserve chairman jerome powell saying the fund amountals of the economy remain strong. he may extends the travel restrictions as a prec

share with you a comment by jerome powell. are willing to higher workers with fewer skills and train them. benefits of a strong labor market are more shared. employment gains across race and ethnic groups, every level of education. raises -- wages are rising particularly for lower paying jobs. >> it starts at the bottom and rises. it doesn't start at the top and it false. literally this economic boom, the president called the comeback story of america is real because the bottom 20% of wage earners are having a faster wage increase than the top 20% of wage earners. that's the kind of celebration everyone who has lived in a impoverished community wanted to hear. you're hearing it now for the first time. not only are we seeing wages increase because we're at 3.6% unemployment, we're seeing more people attracted back to the workforce. charles: right. >> that is one of the reasons why the labor force participation rate is starting to inch up as well. so not only do we have historically low unemployment, we are also seeing, because

chairman jerome powell and we also heard from the reserve bank of new england.w zealand and mark carney of the bank of new england told jerome powell. >> this is already bigger than sars. >> the people's bank of china has done a number of things to support economic activity. and i think you can expect the chinese government to do lots of things to support economic activity. >> in general, the experience has been with pandemics that they can have quite significant impacts, but much of it is recovered. >> there will very likely be some effect on the united states. it is just too early to say. chinese president jie zheng paying has pledged china will meet its economic and social development goals, even as it struggles to contain the impact of the virus, this comes as economists cut forecasts for the country, goldman sachs's revised outlook is one that has been cut. let's get to chief asia economist andrew tilton. andrew, great to have you, this is a phone call president xi had, and said china will be more prosperous after they overcome this crisis. is this just as

on c-span3 at 10 a.m., federal reserve chair jerome powell testifies for the house financial services committee on monetary policy and the economy. later at 2:30 p.m. house armed services subcommittee examines white supremacy in the u.s. military. >> c-span, your unfiltered view of government. created by cable in 1979 and brought to you today by your television provider. >> a house financial services subcommittee recently held a hearing on mobile payment technology.

safe travels back. >>> fed chair jerome powell will appear before the senate today he used testimonyisclose he was confident and cautious he said while the coronavirus impact could not be fully assessed, the u.s. economy remains strong >> the u.s. expansion is well into its 11th year, the longest on record. last year, economic activity increased at a moderate pace the global head winds intensified last summer. >> let's look at how u.s. futures have reacted we are seeing a risk on move in general. stoxx 600 making fresh record highs and looks like we are going to get fresh record highs. behaving like tesla here >> no reaction whatever so ever. a slight flattening to the death toll from coronavirus. seemingly, investors not with much need. a good start to the day i'm willem marx. "worldwide exchange" is coming up next. when it comes to your business internet, which is more important? ♪ ♪ okay, i wish i didn't have to choose. like the more i think about it, the more i want to jump to each room. what if i said you can have it all? ♪ ♪ comcast business gives you connectivity that goes bey

. >> well, the former chairpersons of the fed -- >> that's fed chairman jerome powell testifying in front of the house financial services committee in day one of congressional testimony. we'll bring you back to that hearing in just a moment in the meantime, we are getting breaking numbers on boeing order s and deliveries we go to phil lebeau >> the month of january for boeing was a shutout for new airplane orders. there were zero new aircraft orders for boeing in the month of january this is the late nest a string of months we've seen going back to the grounding of the 737 max back in march last year. several months since then the company had zero new orders. they delivered 13 aircraft last month including six 787 dreamliners. there are no deliveries going on of the 737 max because it is grounded far point of reference, in january, airbus logged orders for 274 commercial airplanes back to you. >> phil, thank you let's get back to the q&a with fed chairman jerome powell >> as part of this demographics of wealth examined the connection between race and wealth accumulation over the past quar

jerome powell is one of them. what are you going to be looking for? s already powell indicated the virus is going to have an impact globally. one of the things we saw last year is the federal reserve did lower interest rates. a lot to do with how they saw the global economy developing. globalre concerned the economy was below par. it will not be too long before investors are looking at the u.s. fed once again to bailout the global economy. we may see some hints from jerome powell over the next couple of days as he addresses this people in washington. the fed is very uncomfortable with this situation. they are getting ready to move toward -- i am sure he will not declare that fed rate cuts are coming straightaway. the fed is getting more worried. they will be leaning towards a rate cut if the situation is getting worse in the near term. yousef: great catching up. let's stay with some of the market trends. saudi arabia's main index dropped yesterday. the coronavirus reduced demand for oil. are front and center for this. >> yes, it was a quite interesting

specifically jerome powell. financial services committee yesterday, reaffirming the strong u.s. economy. we find the u.s. economy in a good place, performing well. we see signs of global growth bottoming out, we see reduced trade policy uncertainty. overall we see strong job creation. all of this happens in the context of a good, strong u.s. economy. romaine: joining us is michael mckee, bloomberg international economics and policy correspondent. still with us is paul brain. the same line we heard from jay powell. what back up that statement? michael: he is using the data that had been coming in until this morning. with the industrial production numbers in europe being so dismal and opec scaling back dramatically its oil demand or cast, you have to wonder if his assertion that the global economy is bottoming out is actually going to come true. maybe he will get a question about that today. the u.s. economy has been in relatively good shape. not growing gangbusters but not looking at recession. we do not know wha

looking to central banks for economic stimulus such as interest rate cuts federal reserve chairman jerome powell said the fed would act as appropriate and investors are reading that as a signal rates will be slashed in march but that wasn't enough to calm wall street's jitters the biggest selloff since the great recession continued. and for more on this wild week on wall street let's go to our financial correspondent in new york yes quarter yes let me begin with those comments by powell was there any reaction from investors to those comments. well that's just say initially when we saw those comments the markets did not react at all but then by the end of the session and the last couple of trading minutes the market recovered a little bit after being down of 1000 points by the end of the day we had we were down 350 points but here at least on wall street there is the only question not if but when the federal reserve is going to cut interest rates and actually bets that we will see a cut in rates by mid march at the next meeting of the federal reserve those bedstand at 100 percent and a good 90 pe

jerome powell said the fundamentals of the economy remain strong, but the coronavirus poses an evolvingisk to economic activity. powell said the fed will use its tools and act as appropriate to protect the economy. gregg: members of president trump's task force and talks about the white house emergency request for $2.5 billion are accelerating. they hope for congress to pass that request early next week. the money will be used for research and medical equipment such pass fac facemasks. reporter: the white house considering using a 7 odd-year-old law to -- a -- a 70-year-old law to require companies to make the masks as well as other protective gear. alex azar said the coronavirus test kits are being sent to states. private labs will also help. >> we also will very soon through the fda be rolling out streamlined guidance that will allow private labs to create their own tests based on the recipe the cdc has used. reporter: there was a statement by federal reserve chairman jerome powell saying the fund amountals of the economy remain strong. he may extends the travel restrictions as a prec

much as a 1000 points it ended $350.00 points down and that was after a federal reserve chairman jerome powell made comments that he will act as appropriately act appropriately to the economy which is a signal for further interest rates cut rate cuts that's what people want to hear but there is still an air of uncertainty and as we saw in most major indexes were down by double digits this week it was across all sectors investors flooding into areas that are considered considered safe havens bonds gold things like that why is the current of ours hitting the financial markets so hard was that was the correlation what's important member is is that it's not necessarily a reflection of how dangerous this disease is but how much it curbs economic activity think about what we're seeing across the globe is groups of people being isolated told not to go out told not to. events like i t v that means they're not going to factories where they're producing things so we see companies like apple for example whose major suppliers are in china that means that those suppliers are producing the components for ap

traders reacted positively to cautious comments from the us federal reserve chairman jerome powell onbriefing. stay with us. one of the new competitions being introduced at the olympic games in tokyo this summer is sport climbing. the first member of team gb‘s climbing squad is shauna coxsey from cheshire, who has already won five british titles, along with other medals in the world championships. sports correspondent katie gornall reports. reaching for the top. it's set to be one of the most explosive sports at this summer's olympics, and right now british hopes are in the fingertips of shauna coxsey. fees the country's most successful competitive climate and today she became the first ever sport climber selected for team gb. i started climbing when i was four, so i would watch the olympic games and it was so inspiring but also i felt quite disconnected because my sport wasn't part of that, so now to be here talking about the games and i'm going to be there too, it is so crazy and really, really exciting. climbing isa really exciting. climbing is a sport on the rise stop it will make

i'm not sure if you were able to hear everything that jerome powell said, but it was obvious enough that he saw a sense of urgency to at least communicate not just to wall street, but to the world. so does this make it more likely, perhaps, that we could see some action from the federal reserve? >> yeah, i -- it certainly does, in my view. the futures market is underscoring that too with 100% certainty of a rate cut at least in the futures market. yeah, in the march meeting which was really off the a table a week or two ago. i don't think anyone expected any rate cut in march. so i do think that this market move has gotten the fed's attention. i think we keep in mind while this is a, i view a technical downdraft, you know, what the fed is trying to do is prevent this from being a cyclical downdraft, from having the market move somehow migrate into an economic story. right now we've sort of kept those two apart. and we'll see if the fed can hold the line on just the technical corrections. charles: some focus out there saying the fed, you know, there's nothing they can do vis-a-vis the act

at the open plummeting 1,085 is off the lows down about 655 points after federal reserve chair jerome powell at just about 1:3. eastern time, interrupted with a new notice, saying that the fed will use all its tools to support the american economy. the s&p, yeah, it came up off the floor, but it is still down 64 points and the nasdac is still losing 126, today's selling follows the worst single day point loss in history, for all three indices. what will happen in this final hour of trade? it is also the final trading day of february, so what we're going to do is keep you rock steady and solid with everything you need to know. since the thundering bullherd got spooked by the threat of the coronavirus, total equity losses so far coming into today topped $4 trillion. all 11 sectors in the s&p right now are in correction meaning they are off 10% or more since their recent highs. joining the dow, nasdac and s&p, as markets fall into correction territory, and are staying there folks the past six sections mark the fastest-ever decline from record highs all the way down to correction for the s&p and

there you see the closing of the committee with chairman jerome powell discussing the position on interest rates. powell is saying that the economy is resilient and he said there's problems with coronavirus and on the rates he's content with the current stance unless economic conditions change and that the fed will continue liquidity injections into the markets but will transition away from the active use of repo during the testimony, president trump criticized powell which he has done rather repeatedly tweeting quote when powell started his testimony today the dow was up 125 and heading higher as he spoke, it drifted steadily downward as usual and is now at minus 15 germany and other countries get paid to borrow money we are more prime but fed rate is too high. dollar tough on experts. let's bring in a chief economist, a senior market strategist at slate stone wealth and cnbc's steve liesman is here as well. i'm going to begin with you, steve and get you to sum up what you heard the chair say. he sounded more dovish than not. he said nothing about the expansion is unsustainable that's a b

we heard from the warning from jerome powell but we also heard u.s.rices hit record highs this week. are we getting a sense when we can start to see an impact from this outbreak? >> good morning, fredricka. you look at the coronavirus outbreak it really becomes the x-factor in an otherwise strong u.s. economy. kind of like the u.s./china trade war was. because of the unpredicted nature of the virus, we have seen the stock market become more volatile depending on what the latest headline is with the coronavirus. we still have not been able to put a price tag on the impact of the coronavirus because we're in the thick of it. but goldman sachs came out and said the coronavirus could shave off a quarter percent off growth in the u.s. and we are seeing how it is impacting companies and industries. like airlines, for instance, american, delta, more than half dozen international airlines, they all suspended flights in and out of china, many suspending these flights already through march and april. the auto industry, fred, taking it on the chin. china, i don'

non-farm payrolls report later this week we'll look ahead to federal reserve chair jerome powell's testimonyress. >>> let's switch to one of the top european stories angela merkel's prodigy, akk, says she won't run for chancellor in next year's federal election according to democratic union lawmakers merkel has reportedly urged kramp-karrenbauer but the party has started the process to replace her. the cdu board is currently meeting and there will be a press conference at 1330 cet breaking developments out of germany. let's bring in the deputy director of research at tano intelligence just looking back at what happened, it seems the elections were really the writing in the wall for akk and illustrates she had a lack of hold over the party in that they were able to alie themselves with it is far right opposed to the regional premiership. merkel came back strongly against that decision. all of that, that's a lot of speculation as to what's happening at the top of cdu. what is your take on where we go from here as a party and in terms of leadership there? >> i think, unfortunately, we're going

fed chair jerome powell facing lawmakers on the senate banking committee today. edward lawrence at the white house with details. reporter: federal reserve chairman jerome powell heard very tough questions from these senators. he did say under oath that the economic expansion will continue in his view. he also says he is watching the coronavirus very carefully and he says economic data will come in soon to show the economic impact here in the u.s. but he spent a lot of time talking about what really keeps him up at night. that is a cyberattack on the banking system. he says that they can stop the cyberattack but he is worried about the erosion of confidence in the system itself. powell also talked about the budget. he says in addition to the debt concern he says that what scratches his head or what makes him scratch his head is health care. listen. >> the biggest issue of our federal budget is health care spending. we spend 6 to 7% of gdp more than other countries do. that is about delivery. that is a lot of money you're spending every year and effectively getting

he noted some weaknesses in areas that need improvement. >> reporter: federal reserve chairman, jerome powell said the u.s. economy is strong, despite global economic issues. he says 2019 saw increases in the gdp and household spending >> reporter: powell painted a very optimistic picture about the jobs market, he says wages are rising, particularly for low-paying jobs. the chairman ads, more employers are willing to hire workers with fewer skills and train them. >> employment gains broad-based across all racial and ethnic groups and levels of education. >> reporter: it was not not all good news, powell said this investment and export were weakened in 2019 and factory output decline. now, there's a new factor leading to uncertainty, coronavirus. >> which could lead to disruptions in china that spill over to the rest of the global economy. >> the politicians on the committee were very partisan in their assessment that the democratic chairwoman said the current economy was inherited thanks to president obama's policies. >> this irresponsible trade war and gop tax scam blown up the national debt

jerome powell saying the fundamentals of the u.s. economy remain strong, however the coronavirus imposes evolving risks to economic activity as coronavirus spreads, retailers are preparing for that risk with 58% of people saying they're likely to avoid public areas like malls and movie theaters if the outbreak gets worse. >> i'm not going to just go interact with large, new crowds, if i don't have to until we hear more. >> reporter: and then there are big box stores like target, walmart and dollar tree which are at a higher risk for potentially running out of some products as soon as late april according to wells fargo security that's because at the port of long beach cancellations for cargo ships g goods from china have doubled compared to last year. what does this mean for shoppers >> what this means for the port is loss of volume what it means for consumers is your products might not be on the shelves what it means for the community is people aren't going to work. >> reporter: we are already feeling the ripple effect of coronaviru

jerome powell is back on capitol hill today for a second day of testimony before congress.day powell said the economy appears durable but faces risk from the broadening coronavirus outbreak in china. he also indicated there will be no further interest rate cuts for now. meantime stocks closed mixed yesterday. the dow edged slightly lower. the nasdaq added 10 points, the s&p 500 rose five. southwest airlines is under the microscope over safety concerns following a scathing government report. the airline has flown more than 150,000 flights on 88 jets bought on the used plane market. those aircraft had unconfirmed maintenance history that put 7 million passengers at risk. southwest said that it has taken steps to address the report's findings and disagrees with the critique of its safety culture. >>> a new lawsuit following a deadly crash involving a vehicle. an apple engineer who died in 2018 testing the model x had previously complained the suv malfunctioned along the same stretch of highway. he told his wife he veered his suv towards the same spot. the family is suing tesla

on the watch list jerome powell testifies before congress about the economy and fed policy. >>> a federal judge is expected to rule today in favor of sprint and t-mobile merger over the objection of state attorneys general and argued the deal will lead to higher prices for people who use prepaid plans that are are popular with those who have poor are credit. vint and t-mobile say the deal is necessary to build out the next jen ear is of 5g and compete with verizon and at&t. >>> chipotle is celebrating the one year of the customer rewards program with guac mode. to unlock access you have to be a member of the loyalty program by february 20th. members will get a reward for one free topping or a side of guacamole with a entree and they are offering free delivery of $10 or more through the chipotle app. >> i was going to call it guacamole sunday. thanks to kate rogers. >> thanks, kate. >>> 4:43 this morning. a suspected drunk driver slams into a deputy patrol car overnight. still ahead, the details of the arest and how the deputy is doing. >>> and kari hall tracking our tuesday forecast. >> l

. >> jerome powell was on capitol hill to give congress a report on the economy and monetary policy. he then answered questions from house financial services committee members about the fed's decision. ms. waters: i now recognize myself for four minutes to give an opening statement. i'd like to welcome back chairman powell. as i discussed earlier at our last hearing with you, i remain very concerned

on c-span3, at 10:00 a.m., federal reserve chair jerome powell testifies before the house financial services committee on monetary policy and the economy. a house 2:30 p.m., armed services subcommittee examines white supremacy in the u.s. military. next, more from politico's annual state solutions congress with arkansas governor asa hutchinson. [applause] >> i will do my best stephen shepherd impersonation. he is of course out and about covering politics and stuck somewhere in an airport so i've agreed to step in and we will we are thrilled to have a governor hutchinson here to talk about the state of the economy, politics, trade, everything else. not like there is anything going on in the news these days happening in washington. i'm chief economic port -- correspondent. i'm joined by governor hutchinson. prior to winning the governing chip -- the governorship, he was a dea administrator undersecretary department homeland security during george w. bush. so thank you governor for joining us. we have a lot to cover so let's get started. i thought we would start with trade and talk about the ph

federal reserve chairman jerome powell kicks off two days of testimony.estions from congress over how the central bank might respond to new economic uncertainties coming from china amid the spread of the coronavirus. meantime, stocks closed higher yesterday led by gains in tech shares. the dow jones industrials gained 174 points. the nasdaq hit a new record jumping 107. the s&p 500 was up 24. also a record. >>> a federal judge will reportedly allow t-mobile's $26.5 billion merger with sprint to move forward. the nation's third and fourth largest wireless carriers have argued the merger would speed up the timeline for 5g technology. according to reports, a judge is expected to rule against the attorneys generals of 13 dates and d.c. who are suing to block the merger on antitrust concerns. a decision is expected to be made public today. >>> amazon wants to question president trump after losing a bid for a $10 billion military contract. the pentagon awarded the cloud computing project to microsoft in october. amazon later sued arguing mr. trump's interferenc

on c-span3, at 10:00 a.m., federal reserve chair jerome powell testifies before the house financial services committee on monetary policy and the economy. a house 2:30 p.m., armed services subcommittee examines white supremacy in the u.s. military. next, more from

after president trump tweeted criticism of the proposed sentence >>> today federal reserve chair jerome powell will be on capitol hill to talk about any economic disruptions the coronavirus may have been yesterday he said despite global economic issues the us economy is strong with a robust job market>> economic expansion as well into its 11th year and it is the longest on record gains have been broad-based across all racial and ethnic groups and level of education. >> the chairman told congress yesterday now would be a good time to reduce the federal budget deficit which is expected to top $1 trillion this year.>> we will hear from him again. 4:18 the time and now let's check with sal castaneda for look at traffic and so far pretty quiet .>> he is smiling. >> i have got you. you know it is pretty quiet. your audio guy is like what? but it is pretty quiet which is good and i do not like surprises, neither do you when you're driving to work or maybe you're just about to drive somewhere else bit look at the bay bridge which is exactly how we like it. no major issues driving through interstate 88

chairman jerome powell will be on capitol hill today and tomorrow for the semiannual testimony before lawmakers. powell is expected to speak of the u.s. economy and the fat's policy along with comments on any potential economic threat from the coronavirus. >>> four members of the chinese army have been charged with the massive equifax hack. the indictment says they obtained sensitive, personally identifiable information for nearly half of all american citizens. that include credit card numbers, social security numbers, and more. the justice department says there's no evidence china has used the information, but experts say americans should monitor their credit. the federal judge is reportedly ready to rule in favor of the t- mobile/sprint merger. regular's already approved the deal which combines the third and fourth largest u.s. wireless carriers. sprint and t-mobile say it will help them build 5g service. the number of state attorneys general's of oppose the merger arguing it would lead to higher prices for customers but that is your cbs moneywatch report. for tomorrow, head to cbsm

on the watch list, jerome powell back on capitol hill to discuss the state of the economy. a government watch dog said that southwest airlines continues to fly planes with safety concerns putting millions of passengers at risk while the faa has done a poor job overseeing the airline. a report by the department of transportation inspector general said that southwest has flown more than 150 flights on 88 jets that it bought on the used market with maintenance records that are are not con termed. the faa gave southwest more times to bring the planes up to code because the safety issues were low risk. the faa admits it it should have done a better job and it will implement recommendations in the report. and snapchat is launching a tool called care for you that offers resources for mental health experts. when you search for sensitive topics such as anxiety, depression or bullying, snapchat reached 90% of 13 to 24-year-olds. other sites are have rolled out mental health as well. instagram launched a restrict mode last year to allow users to block abusive or harassing comments. ba

some attribute to what jerome powell chief on capitol hill. charlie brady, follows this stuff closely, timing of the boeing news was not really that favorable. when doesn't have new orders it worries folks that you ever will. that times nicely with boeing, what happened with the rest of the dow. more after this, including a preview to our coming attractions tonight. remember 8:00 p.m. fox business coverage looks off with a look what is at stake in new hampshire. how it could pave the way for what happens after new hampshire as the candidates move on. we'll follow foreign market reaction and our futures market to reaction there if you think we follow developments in this country, you would be stunned how closely they are foul following developments around the world you're watching fox business. available to answer your toughest questions. and i see it with zero commissions on online trades. i like what you're seeing. it's beautiful, isn't it? yeah. td ameritrade now offers zero commissions on online trades. ♪ it's unacceptable that americans pa

jerome powell says fund middles of the economy remain strong but the virus has a risk, and he says they will act has appropriate to stabilize the economy. >>> google is canceling upcoming events in the bay area because of the virus, they will not be hosting news initiative global summit, meant to bring together hundreds across the media industry. game developers conference was postponed, that group hopes to reschedule later in the summer. >> facebook is trying to get the word out that chinatown is safe and open for business, unity$20,000 to the newcomer service center with ads encouraging people to visit chinatown, bay businesses have seen a steep drop in customer since the outbreak of the virus. >> i've noticed the difference of less foot traffic. chinatown is so traditional, culturally. please keep coming. >> there is also been an increase in parent increase in racism toward members of the chinese american communities. and they say that kind of racism is just an acceptable. >> a final poll of voters show bernie sanders at a comfortable lead. elizabeth warren is at 17%, mike bloomberg

bank opted to keep rates unchanged last month but the coronavirus outbreak has spread rapidly jerome powellthe bank is closely monitoring the risk adding that for now the u.s. economy is in a very good place. looking beyond that and eventually getting better? >> those are the clues we'll be looking for. you have to remember, this was a few weeks ago. we are going to be looking for clues in this meeting and the next one we know we are having the greater impact it is having the macroeconomic impact we just don't know how much yet and how much it will alter its outlook. there is belief. we heard that because of some of the trade tensions had been scaled back, perhaps business investment may recover as well he cited this as a weakness. still not as strong as it could be with hopes that businesses will get back and put more money in support of growth going forward. >> thank you for that preview. let's put this aside with bloomberg's rise. he's just surged in the polls. opting not to take part in early primaries but focused on the super tuesday states that will be voting. what do you think of thi

if you think it is all jerome powell and the repo operations -- i know there has been endless debates about whether that is actually helping. they took the yields on cash products. they took them from a positive real yield to a negative real yield. that is pretty important for helping to boost this rally because if you look at money market mutual funds, they were collecting money week after week after week. that has tapered out. it looks like it might be rolling over a little bit. any hint they are going to wind up these repo operations -- regardless the evidence that you can prove they are reducing the market, they would hit the confidence and cause people to pull back a little bit. what would cause companies to start scaling back on buyback? higher interest rates. a long-term damage to profits. something that seems it is longer. those are the risks i would look out for. you have to stay in. shawn: and the political landscape as well. you start to look at buybacks. at some point, there is going to be a push back on what government -- on what companies are doing with their money. they

president kept up his attacks against jay powell tweeting during the testimony saying, quote, when jerome powell today, the dow was up and as he spoke, it drifted down lower germany and other countries get paid to baro money dollar tough on exports. i don't think he's ever going to push from these tweets president trump pushing for these negative rates the president's criticism of powell and idea of negative interest rates >> the question of negative interest rates got questioned in the hearing. i thought he was ti -- articulate taking interest rates off the table making clear that wasn't a tool he talked about the use of forward guidance you see the fed here starting to talk about its usual playbook should it need it in terms of more accommodation i think the negative interest rate point was handled pretty clearly that is not something he will be contemplating right now. his use in the u.s. is not interested imminent. >> also citing the biggest risk to growth, cyber crime >> the thing we worry about a lot is cyber attacks that is really the front year where you worry. how big of an issue is tha

jerome powell spoke before congress on tuesday and talked a lot about the strength of the u.s. economy he returned in front of the senate today and he added that the fed will use quantitative easing aggressively as the word he put it if needed to fight an oncoming recession now clearly the fed is propping up the markets and the u.s. economy but how long is that sustainable you know i think that is the most open ended question you could possibly ask and i think markets are clearly giving jay powell the benefit of the doubt right now because they are completely shrugging off any risk from the coronavirus even as things like oh i don't know us still me steelmakers real and u.s. oil producers continue to have multibillion dollar write offs because the price of oil is so low but again markets are convinced i think jay powell is going to move from treasury bill purchases to treasury coupon purchases that would make the banks very happy because they happen to own treasury coupon securities and that the fed is going to grow its balance sheet as much as it needs to to make sure that the

and jerome powell deliver his semiannual policy report to the house financial services committee.ething we will be watching wednesday. nato leaders with a meeting in brussels and then tidjane ceo of last report as credit suisse. and we will have the munich security conference. north korea is sending its first ever delegation. secretary of state mike pompeo will attend and iran's prime minister -- foreign minister scheduled to make an appearance good let's get a business flash. -- appearance. let's get a business flash. reporter: a 50% increase over 10,000 cuts it has already outlined. the paper said the plan will save more than 1.4 billion euros. daimler wants to reduce investment in lossmaking projects outside its core business. the credit suisse chairman isn't afraid of being ousted. newspaper after his battle with tidjane thiam here he has faced all to resign from some of credit suisse's biggest investment. people dispute who was to blame for the spying scandal that hit the bank. php, the world's top minor, is with -- is in talks we'll have learned -- more flexibility on delive

fed chairman jerome powell warns the central bank will be forced to use large-scale asset purchases aggressivelyslamic competitors in cutting jobs as a sluggish economic outlook in the uae weighs on the country's lenders. africa's pr

but as you've seen you know the markets are recovering very quickly from it so the other thing jerome powell did today see kind of defended the fed's plan that was announced in october to ease the strains on the banking system you know we need to ease the strain by purchasing treasury bills injecting liquidity through the repo operations long term even short term how much damage is the fed doing to the economy we mentioned at the beginning here that we're in our 11th straight year of growth that's not because the market is this wild animal that's running free in it's growing it's completely based upon the idea that the central bank is pumping money in but even with the coronavirus you know mentioned the markets are up but they're up because the p.t.o. see the people's bank of china infused a massive injection of cheap money oh i say let's keep every do you see a great example of that in china as have you know now what's interesting about the fed in these repo operations and it's really the case that monetary economists have only recently started to come even come to terms of what the fed is

chair jerome powell says they will stay put.further fed insight from its vice-chairman. >> the u.s. economy is in a good place. solid growth. historically low unemployment. inflation stable. we left rates unchanged. is think the policy place important. strong labor market and low inflation. >> are we at full employment? it has been robust. the labor participation rate is not above where it was before. >> that is a good question. the powell fed has been open-minded about understanding the benefits to the low unemployment rate, and unless and until we see unemployment rates putting excessive pressure on inflation, we are not prepared to say we are at full employment. a lot of things economists don't know for sure is what is full employment. we are willing to probe to see how low the rate can go. >> one thing that came up in the news conference was the coronavirus. it is on everyone's mind. markets are paying attention. >> it is a wildcard. even the experts would confirm it is too soon to tell. we are looking into the outlook for g