. >> did jerome powell cut and undercut himself? is history showing when you have these cuts in meetings, the stock market does not take it well because you get emergency cuts, what it is really saying is the cuts are not effective to solve the underlying problem. jerome powell did hint at that. hitequity market took a big as well as the bond market. inus: jp morgan say we are quicksand to negative yielding territory. you saw this collapse in yields. the question is, are treasuries now pricing in an aggressive recession in the united states of america? you have the rate cut from the fed, but was it a bozo in terms of communication? have a look at gold, have a look at oil. the gold price belies the bigger move. the biggest rally in for years yesterday. we are up 8% this morning. the biggest rush in ever in terms of gold etf. goldmillion tons of flowing into the oil market. does opec plus deliver their bazooka? how does the market take that? super tuesday in play as well. there may be no bottom in tuesday giving u.s. futures a lift. a

nejra: a whatever it takes moment from jerome powell and the fed. yields still down.ing across the u.s. curve and also flattening. says markets are bottoming to sell the dollar particularly against the euro, aussie, and loony. the euro stoxx 50 futures on the back foot as equity markets stay in bear market territory. a lot of read on the screen in asia. what a move in u.s. futures. yousef: the markets life team saying we may be entering a world where yields stay low forever. clearly this was an emergency move. very pressing data that push them that way. not exactly what policymakers hoped for. currently we are in the 2555 point mark, not enough interest in buying asset level -- at that level specifically. major moves in asia. aussie stocks dropping the most on record. down 9.7%. creeping ever so slightly toward the $30 per barrel mark. signals from the rba of more action. we got a cut from the rbnz and we heard from the boj, stopping short of a rate cut, but talking about etf purchases. as you are saying, central-bank action not looking like enough. we have global mar

president trump has made his feelings about the federal reserve chairman jerome powell fairly well—known fierce critic of mr powell, particularly in recent months. he believes the fed hasn't acted quickly enough to cut interest rates to bring them down to the levels are perhaps in europe orjapan. the federal reserve believes negative interest rates are a sign of economic difficulty so it's been shying away from doing that but clearly, the federal reserve‘s chairman, jerome powell, believes this is a very serious crisis and something is needed to basically pacify the markets which have been very volatile of course in recent weeks because of the coronavirus. our business correspondent katy austin has been following the market reaction and she told me investors don't seem pleased by the fed's move. it certainly looks like the move hasn't shored up the financial markets immediately as donald trump might have hoped and we are seeing us stock market futures down which is not the desired effect at all and this is not a very good sign, really, in terms of the significance of a pandemic and actua

today, cool hand jerome powell, that what we need right now?ecause when he was asked about certain things, credit defaults and some other things that might be out there, it still feels they don't want to accept these things are around the corner, maybe they will wait until it is too late to act? >> well, to powell's point we really have not seen what i'm writing about this week, the sleeping giant. we have not seen major disruption in the credit markets dot, dot, dot, yet. i would prefer that given that we have until friday before the fed goes into blackout, the 10 days prior to the federal open market committee meeting, i would prefer fed officials come out to say they're proactively working with fiscal authorities to insure that businesses across america are able to get what they need to bridge this area of disruption this, meteor that will hit the u.s. economy, the services side of the u.s. economy which is the bulk of it because of this coronavirus. this is not the fed on its own, but to your point powell needs to be very adamant and open s

eastern led by steven mnuchin and jerome powell. while the group is drafting a statement on countering the economic impact, it does not specifically call for coordinated interest rate cuts nevertheless, european markets are surging following wall street's lead yesterday. you can see the dax and the main benchmark up 2%. in italy, the mib facing a strong recovery up 2%. yesterday, we saw italy underperform, in particular the italian banking sector on concerns of the virus weighing sentiment there. the impact this could have on bank balance sheets. we are seeing strong gains across the european session. you can see we have green across every single sector. chemicals leading the way higher financial services up 2.7, real estate, health care, technology. a mixed picture as to what is leading. a wide-spread change here. let's look at airlines that has born the brunt lufthansa is up 6%, ryanair up klm up sizeable gains in the airlines space, which is interesting given that they have suffered strongly as investors have tried to weigh what

this is i think, to jerome powell's point, this is a technical recession. the pandemic brought this upon us. therefore, we have a faster way to get out of it. i'm just hopeful that we continue with the stimulus because like i said, this is more like stabilization, what they did today. the one thing i would comment, i know we are in a rush here, i think the next phase has to get the consumer side going. we actually need to think about ridding sales tax and lowering the payroll tax so the consumer can actually get back to doing what they do which is feeling confident about the system. cheryl: that's a really good idea. i'm glad you said that. robert wolf, mark hamrick, guys, thank you very much. great to have you on. >> thank you for having me. >> thank you. cheryl: well, new york governor andrew cuomo broke the bad news a few hours ago. the number of coronavirus cases now stands at 37,200, up 6500 since last night. desperate and exhausted doctors and nurses at new york city hospitals are treating the sick in makeshift tents. the story that's gone viral is so

. >>> president trump targeting the federal reserve pressuring jerome powell for additional rate cuts and calling him pathetic fast trader money guy told us yesterday we shouldn't be racing to zero. >> the administration wanted lower oil prices and they wanted lower rates. guess what, we got them. look what's happening now. last point, we have said it on fast money now for a long time i thought 1.4% in the ten year was the point of diminishing marginal returns in terms of what it meant for the stock market look and see what happened see where we are now october, 2018, '19, when jerome powell was saying we're going to reduce this balance sheet and raising rates. i happen to think he was doing the right thing. why follow everybody uls down t -- else down the rabbit hole of negative rates >> this could be the end of the bond market as we know it on wall street. is it because liquidity goes away is it because pricing is distorted? tell us why things have gotten to out of whack. >> i guess what happens when yields get to such a low level like it happened in japan two decades ago. it's fewe

but the president, much, much more magnanimous towards jerome powell today, saying this was a terrific offering his congratulations to the board of the federal reserve. but how would the global markets react to this use of a bazooka by major central banks to make it easier for banks to get more money out to their customers? they could soar on the news of cheaper money and the impression of a firm grip on the problem or they could collapse even further — believing that it was a signal that this coronavirus is going to be even worse than originally feared. let's get an update from mariko 0i in our asia business hub in singapore. i'm guessing the latter has come true, the markets are more in here. indeed, maryam, and if you look at japan's mckay, it's been acting like a yo—yo, a lunch break and in the morning session, pretty much flat. it was in and out of the negative territory all morning. investors have been waiting for this emergency monetary policy meeting, in response to the fed's emergency rate cut which has just started about one minute ago they are basically waiting to see what k

but the president, much, much more magnanimous towards jerome powell today, saying this was a terrificing his congratulations to the board of the federal reserve. the first human trial of any vaccine to protect against coronavirus will begin in the us city of seattle on monday. 45 young, healthy volunteers will receive various doses without being infected. the vaccine doesn't contain any part of the coronavirus, but will instruct a patient‘s own cells to produce proteins that could prevent, treat or cure the disease. as we've been reporting, days after becoming the new epicentre of the coronavirus pandemic, europe has been altered beyond recognition. the streets of rome, madrid and paris are deserted. spain is in a state of emergency with the whole population in near total lockdown. from the capital madrid, here's damian grammaticas. you may find this report distressing. she is gasping, grief stricken, infected with the virus. last night, in this hospital, her husband died. today, doctors have told her to go home. there aren't enough beds to treat her. she's not sick enough, not yet. a

but the president, much, much more magnanimous towards jerome powell today, saying this was a terrific— move, offering his congratulations. david, thank you very much indeed. but how would the global markets react to this use of a bazooka by major central banks to make it easier for banks to get more money out to their customers? they could soar on the news of cheaper money and the impression of a firm grip on the problem or they could collapse even further — believing that it was a signal that this cornoavirus is going to be even worse than originally feared. let's get an update from mariko 0i in our asia business hub in singapore. mariko, i'm guessing it's more the latter. the markets don't know what is going on and they don't like it. indeed, maryam. we are seeing extreme volatility. japan's nikkei is down 0.5%, in and out of negative territory all morning because the japanese central bank has moved its monetary policy meeting to later today to begin injust under an hour so to begin injust under an hour so investors a re to begin injust under an hour so investors are hoping they mig

and probably more tweets againstjerome powell more criticism and probably more tweets against jerome powellore tweets againstjerome powell and the fed in general as the days where on. jane o'brien, thank you very much. in central and eastern africa, rwanda, kenya, ethiopia and sudan, are among the countries to have confirmed their first cases of coronavirus. and morocco, has suspended air and sea links with france and spain and also banned any public gatherings of more than 50 people. let's take a look at some of the other developments on the virus. norway will shut all its airports fom monday — that follows the closure of schools and restuarants across the country. latvia will close all borders to foreigners from tuesday. and here in the uk, hundreds of scientists have written to the government, urging them to introduce tougher measures to stop the spread of covid—19. the scientists describe the government's approach as a laissez—faire attitude to the virus, which they say is risking lives. and we'll find out how this story — and many others — are covered in tomorrow's front pages at 10:30

craft is too great that the central bank can't bail everybody out by cheapening money however jerome powell the current fed chairman cut rates by a full point 100 basis points a shockingly big. cut in rates and the response this time was a resound fudge markets crashing down that is this may van this i began at the central bank can make all problems go away are we assessed finished now the era of the central bank put greg reminds me of 20089 you recall how coming out of the financial crisis all of the cash that the central banks and credit all the extraordinary measures they took didn't seem to have an immediate impact during the crisis middle man once there was those purse proverbial green shoots that were shoot up in 2009 and i mean there was no looking back after that especially even in the precious metals same thing may happen here we get this virus under control you know whatever it is a trump just said it 'd may be as long it may be summer before they feel like things are out of control we get back to normal but whenever that happens you know it's not like the infrastructure has been

at a disadvantage must be another way around jerome powell has called it wrong from sad day one, sad that was a lot of stuff coming from president trump about the central bank here in the united states reaction from asia and europe so far has been interesting julianna tatelbaum standing by in london with the latest. we are seeing a lot of green on the screens. >> indeed, that investor optimism has filtered through to the european session the ftse mib in italy is trading 2.75% higher italy was the key performer yesterday. the key country facing the biggest outbreak outside of asia, outside of europe. even that index is trading strongly this morning. very strong gains there. no doubt optimism moved from central banks providing some support from investors this morning. looking at the sectors we've got green across the board. travel and leisure up. impacting airlines which has borne the brunt of the selloffs. that is the most sick call trade exposed market on the down side there, we have the more defense portion of the market even those are trading north of 2% this morning. >> thank you

jerome powell said the virus poses evolving risks to u.s.h and signaled he is going to cut rates if necessary you goldman sachs expects 50 basis points this month. the possibility of corrugated action by other central banks, the bank of japan offering to buy $4.6 billion worth of sovereign debt. here is what our guest said. possibly the worst thing i have ever seen in my career. >> from the fed's point of view, a red -- a rate cut is on the table. >> the fed will respond to the threat of the coronavirus by lowering rates. >> they realize whatever they do, they will be shown to be ineffective. >> the fed is impotent in this environment. >> the policymakers will do everything possible to prevent the u.s. from going into recession. >> lowering interest rates will not -- >> they will deliver even if they don't see a hard evidence. >> i have no doubt central banks are going to be cutting rates. because the markets are going to start to have dysfunction. rental markets have dysfunction but they will not deliver a better economic outcome. manus: im

. >> wrapping up with fed chair jerome powell responding to the coronavirus. we have a special webpage set up at c-span.org/coronavirus where you can see conversations and hearings we've aired about the virus. go to c-span.org/coronavirus. we continue with live coverage, we take you to capitol hill to hear from treasury secretary mnuchin answering questions at a house budget committee hearing. the ways and means committee chaired by richard neal. >> at the end of the day you can th

calculated to deescalate the worries and said it did not calm but escalated the worries and indeed when jerome powell spoke he did sound very worried that gave investors pause for thought of course we don't know what the reaction would have been if the fed had left the markets untended knowing the markets they wouldn't have appreciated that either i mean it really is a shot from the hip isn't it it's a deviation from standard fed procedure why why is the. that's right it's a much clearer step than steps before the clearest move since the financial crisis and out of line with regular meetings that was i think shock therapy that was what it was aimed to have as an effect there's very little ammunition left in this is part of the reason investors realize this why the move didn't come across as clearly but i think the fed hoping that doing a lot now shocking would. would allow it to not have to follow it up with a lot more because it doesn't have a lot more but that seems to have backfired live on sinn fein for thank you. but as the global economy starts estimates the coronavirus all of them on the shop

fed chairman jerome powells announcement of a cut to interest rates investors sense other central banks will be taking a closer look at their own stimulus measures to. however the fed's decision to cut between monetary policy meetings for the 1st time since the financial crash left traders in no doubt that the americans see coronavirus as a serious threat to be dealt with. the international monetary fund added to that with troubling words about the global economy. the impact then we have more use we are considering unfortunately we have moved into this more. the i.m.f. previously said 2020 would be a better year for global finances than 2019 it now says that prediction can be all but wiped from the record. and one industry that's really thing the pinch at the moment is aviation earlier love songs and i am still would be granting a $150.00 aircraft due to the outbreak this after it already suspended flights to china on toronto april the love tons of group includes whist and austrian airlines european airline executives warned that the worst economic damage is still to come . now let's ta

yes the fed chairman jerome powell basically has promised as much that the fed is ready to act the japanese central bank chief has said so and here in europe at the e.c.b. behind me here you can see the building christine legarde the new president said that the e.c.b. is ready to take appropriate and targeted action and you mentioned the conference call of g 7 while the central bank chiefs will be integrated into the policy making there and because the central bank chiefs of indicated just were ready to act and it's almost impossible to me for them then to sit on their hands and say well we said something but we're not going to do anything after anyways it's calmed the market so far if they withdrew if they didn't do anything that would really send markets and perhaps also the economy into turmoil when the bonds in frankfurt thank you for this analysis. factoring firms with complex supply chains are among the most vulnerable to the coronavirus just a car makers are the most important regions for car companies in china is who bay province 10 percent of the country's comic capacity is based t

pointed out, just a few days before its scheduled meeting but the head of the federal reserve, jerome powell in a statement that there is a massive economic impact that is happening as a result of the coronavirus and in conjunction with other central banks around the world, they have set up when not only have they cut interest rates here in the united states but they are going to do what they call quantitative easing so they are going to be buying up some mortgage—backed securities and treasuries. $700 billion worth, as a way to try and get more liquidity into the us market. meanwhile, we got the first data out of china since the coronavirus outbreak started there and it's caused some cities to go to look down. it's get more from our business reporter, monica miller. talk is through the latest data. if the west wants to look to the east as to what's going to potentially happen, these numbers are fairly grim. we've learned that industrial output had contracted more than its sharpest pace in 30 years over the past two months. when you think about cities being completely locked down, no trade c

fed chair jerome powell spoke to reporters about the rate cut soon after it was announced. >> good morning, everyone. earlier today the federal open market committee announced a one-half percentage point reduction in the target range for the federal funds rate, bringing that range to 1 to 1 1/4 percent. my colleagues and i took this action to help the u.s. economy keep strong in the face of new risks to the economic outlook. the fundamentals of the u.s. economy remain strong. the unemployment race has been near half century lows. the pace of job gains have been solid and wages have been rising, underpinning solid household spending which has been the key driver of economic growth over the last year. at the time of our meeting in january, prospects for continued economic growth remained favorable and we judged that monetary policy was well-positioned to support that outlook. since then, the spread of the coronavirus has brought new challenges and risks. the virus has afflicted many communities around the world and our thoughts and prayers go out to those who have been harmed. the outbreak h

have cut interest rates, injected liquidity although we did hear from the chairman of the us fed, jerome powelle are still some tools in the tool chest but it is just a matter of when they need to pull them out. grim outlook. thank you for that update. now we have been talking about how this outbreak is affecting the airline industry but another sector has been hit hard, auto. the lockdowns in china led to many facts during that make factory closures factories are reopening but, instead, factories in europe are starting to close. what will be the impact on industry. michelle is the head of autos at the world economic forum and she explained the ripple effect for europe given what happened in china. what we saw starting in china is that we had a slowdown in sales of about 80%. with about an equal number of percentage slowdown in production. about 78%. that rippled through, disrupting supply lines in europe where we saw a parts shortage a few months ago. 0bviously a parts shortage a few months ago. obviously in europe we have all of the factories closing there as well. looking at china when they

earlier this morning on "today" savannah talked to fed chairman jerome powell. >> dr. that sounds right to me. i think the sooner we get the spread of the virus under control people will regain confidence when they become confident that is the case then they will very willingly open their businesses up, go back to work, the consumer will be spending. when it comes to this lending we're not going to run out of ammunition. that doesn't happen. you know, we set the interest rates in time at what we think is the right, giving the economy the right level of support. >> meanwhile the u.s. death toll here has now passed the 1,000 mark with 68,000 known cases. new york remains the epicenter. globally some 21,000 people have died. italy and spain among the hardest hit in europe. a staggering 7,500 people have died in italy. 3,600 in spain. and dr. fauci, as you just heard from mr. powell, the nation's leading infectious disease expert is cautioning this virus could, in fact, come to be seasonal. in other words, we would see it coming back in cycles. it may slow down in the warm

we looked at in a broader context is the overall financial conditioning index and what we heard jerome powellank yesterday was the cut was meant to prevent financial conditions from tightening. greg: when it comes to these cuts, the most powerful central bank and the world acted first. we acted in canada. preceding this is the phone call from the g7 central makers at finance ministers. can be expected the governments to show up at be a partner in this with fiscal stimulus? takinge: governments are action in countries that have been hit the most. we are seeing it in italy and in china. for both of these countries, the issue has been to contain the spread of the virus and later on they will try to use policy more aggressively and china to support the economy because that will be needed later on. is losses tooblems the economy will be permanent in the sense that services are not storable. that implies the comedy -- vi carmine -- vonnie: does the fed hike interest rates as soon we see the impact of the coronavirus go away? the expectation is for the fed to cut. focus will be on financial conditio

jerome powell said, when it comes to this lending, we are not going to run out of ammunition. pelosi told bloomberg tv that the house will move quickly to approve the senate's passed rescue plan. >> we are very proud of the legislation. that will only depend on how carefully we had to come in, in small numbers, to the floor of the house to vote. have: in europe, leaders struggled to agree on a concrete strategy to contain the fallout from the coronavirus as france, spain, and italy pushed for more radical steps than a credit line from the bailout fund, including proposals such as joint debt issuance. leaders are leaving key details to be hammered out by e.u. finance ministers. treasury secretary steven mnuchin reiterated thursday he wants u.s. financial markets to remain open even if the coronavirus fuels while volatility. in the stock market, only one thing is constant. itss&p 500 just recorded quickest three-day advance in nine decades. the dow already started a fresh bull market, technically up from the lows after more than $2 trillion in value was created in three days. ge

i will play comments from jerome powell, the fed chair. this is an audio only briefing on the reduction in interest rates. here is what he had to say. [video clip] mr. powell: we reduced it to one of the half percentage points. we encourage banks to turn to the discount window to help meet demands for credit from households and businesses. to make the discount window more effective, we will offer loans for periods up to 90 days. because of this important stoop -- importance of the u.s. dollar in the global economy, lending dollars overseas can disrupt financial conditions here in the u.s. to guard against such disruptions, the federal reserve maintains swap lines with five major central banks. when pressures emerge, those essential banks can contain the pressures in their jurisdictions and prevent them from impeding the flow credit you're at home -- the flow of credit here at home. [end video clip] host: we talk about the credit needs of households and businesses, do you think that is a good response? is it too early for measures like this

jerome powell acknowledged fears about this emergency cut not being enough to combat the economic effect of the coronavirus. toolnetary policy can be a to support economic activity. a rate cut will not reduce the rate of infection, we do not think we have the answers. our action will provide a boost to the economy. mike mckee is watching this. there is a lot that could happen that this rate cut will do nothing for. seen,ms of what we have manufacturing data from china has not shown up in the u.s., is it not -- is it enough? mike: a lot of people are expecting the economy to slow. the fed is in charge of trying to keep the economy in good shape. it makes sense they want to use the tools they have. the fed, we have gotten used to them being the only solution to any problem. this is not an issue that cutting interest rates will help with. certainly on the supply side, it will not make up for parts missing from oversee suppliers to her down the demand side, you are stuck in your house, afraid to go out, you are not going to spend money. why would you do this? they might be looking at the dro

. >>> president trump is pressuring federal chairman jerome powell to slash interest rates. to make up for the coronavirus situation. the fed has so far resisted. >>> there are more than 91,000 coronavirus cases worldwide. china announced this morning that seven new cases involved people who contracted the disease in italy and then returned to china. here in the u.s., there are 105 confirmed coronavirus cases including six deaths in washington state. new infections in the bay area as well. there are roughly two dozen coronavirus cases in the bay area and no fatalities. san mateo and sonoma county reported two additional cases. >>> president trump will go to the national institutes of health in bethezda, maryland. the president met yesterday with major pharmaceutical companies and called on them to share information and develop a vaccine as quickly as possible. >> this is something we want to get done very quickly. do you expect to be sharing your own capabilities with fiza and everybody else? >> yes. >> good. >> mike pence will be briefing the u.s. senate on the kriersz. the

federal reserve chairman jerome powell told nbc news we may already be in a recession but he says the recovery will likely be quick. >> people are being asked to step back from economic activity, closer businesses, stay home from work. in principle if we get the virus spread under control, fairly quickly, then economic activity can resume. and we want to make that rebound as vigorous as possible. president trump has said he hopes to reopen large portions of the u.s. by easter in order to get the economy running again. >>> the nation has reached a grim milestone in the fight against covid-19. the death toll across the u.s. has now topped more than 1000 people. there are more than 69,000 reported cases, nowhere has been hit harder than new york city. fema says 2000 ventilators were delivered to new york for distribution yesterday, but governor andrew cuomo says tens of thousands more are still needed. >>> another major sporting event canceled in the midst of the outbreak, the indianapolis postped until august. 4th thisen will not run on memorial day weekend. >>> new at noon, italy has r

comments on fed chair jerome powell was on "the today show" this morning.he fed will be aggressive but look we're probably already in a recession at this moment. maybe he is stating the obvious but it came from the federal reserve chairman. >> certainly the best part here, he is speaking directly to the people. i think that is so critical because obviously confidence, confidence among all americans is so critical to get through this i also think, remember, just go back a couple decades, the federal reserve never said anything. now he is on a popular channel. i think that underscores the resolve that the federal reserve has to do everything possible. one thing i'm watching for? will they do anything about high-yield bond. that is what we have to watch for. cheryl: also, keith, it made me think as he was talking this morning investors are looking for a time when maybe the market will flatten out, bottom out. it all depends on the virus but it has been made very clear now that the government is going to be there, the federal reserve will be there, treasury sec

and a note tomorrow on "today," issavannah guthrie interviews fed chairman jerome powell that's "nightlyster holt. thanks for watching. please take care of yourselves and each other. california phones offers free specialized phones... like cordless phones. - ( phone ringing ) - big button, and volume-enhanced phones. get details on this state program. visit right now or call during business hours. [car[clicking of ignition]rt] uh-- wha-- woof! eeh-- woof! wuh-- [silence] [engine roars to life] [dog howls] ♪ dramatic opera music swells from radio ♪ [howling continues] my money should work as hard as i do. so i use my freedom unlimited card to buy all the latest tech stuff. today, i'm earning on a charger. so, just the charger then? ummm... ♪ ♪ ♪ ♪ yeah! (sarcastically) fantastic. earn 1.5% cash back on everything you buy with freedom unlimited. chase. make more of what's yours. and accessoriesphones for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program visit right now or call during business hours. - the nigh

host: president trump has not always been the biggest fan of the federal reserve and jerome powell. guest: that is putting it politely. does he view the role of the fed right now? guest: this is a tense relationship no doubt. the present honestly believes the real economic response needed to come from the federal reserve. the fed normally cuts interest rates, which makes it cheap to get a mortgage. you have people trying to refinance their mortgage right now because rates are so low. the other thing we saw in 2008, it can help to stabilize the market. it does not mean they are literally giving banks money, but they are providing short-term loans to these banks to ensure that they have enough to do their operations and buy and sell bonds. change? all of this economists across the political spectrum have been screaming at .he white house there is uncertainty. making it cheaper to borrow money does not do much if you don't want to leave your home to even go look at a house that you might want to buy. that is why people are saying this really needs to be a federal government response, m

and a note tomorrow on "today" is a van ga guthrie interviews jerome powell. that's "nightly news.". thank you for watching please take care of yourself and each other. >>> if the numbers hit the way that they are going in a place like new york, there is really going to be a challenge with our system. >> a warning today from san francisco's mayor. what she says the city needs to meet a likely surge in coronavirus patients. the news at 6:00 starts right now. good evening. thanks for being with us. i'm raj mathai. >> and i'm jessica aguirre in the studio. at this hour, major developments, raj. >> we're getting updates from oakland airport and kaiser hospital. let's start you off in oakland. in the past few minutes, we learned a gate agent at the airport tested positive. the airport says the worker was on the job just this last sunday. so just a few days ago, and he worked several gates that day. the upside here, not many people are traveling, but there are still plenty of people that were exposed to that gate agent. also, concern at kaiser. an executive vice president for the health g

this isn't there's nothing fundamentally wrong with our economy jerome powell who has feuded often with president. >>predicted economic recovery may not happen until later this year we would tend to listen to the experts a doctor found she said something like a the virus is going to set the timetable. when we come back california continues its response to the pandemic and the state treasurer says. more there are more highlights as well we've been telling you the us is one step closer to workers families and businesses getting relief from the form of a huge $2 trillion economic stimulus package and joining us now for more silicon valley, congressman ro khanna you were just telling me that you had to rush back to washington from your district. so here's a question why don't they make remote voting possible is that common. >>i appreciate you raising this it's frankly outrage is that congress isn't in the 21th century and that we

and a note tomorrow on "today," issavannah guthrie interviews fed chairman jerome powell that's "nightlyster holt. thanks for watching. please take care of yourselves and each other. >> roman: [sighs] all right, john. yeah, okay, well...i'm sorry. hang in there. [phone beeps] >> hattie: what? no world on marlena? >> roman: he has no idea where steve took her. >> hattie: oh. well, he'll find her. he always does. >> roman: let's hope so. >> hattie: yeah. hey, listen, roman, um... in the interests of a little more cheerful workplace, uh, do ya suppose that we could be a little less irish around here? >> roman: what's that supposed to mean? >> hattie: well, i just--i mean, under all the blarney...it's a pretty gloomy group. >> roman: that is a cultural stereotype and not even accurate. >> hattie: oh, no--look. look at you. you always expect the worst possible outcome of things. >> roman: that's not really true, but unfortunately, sometimes that's what we get. >> hattie: yeah, well, you know what? i never catch you smilin'. i mean, here's a guy that's fallen in love with me and he's been kiss

a fiscal policy stimulus, a fiscal policy response and a continued monetary policy response by jerome powellz: charlie gasparino, thank you. as you see, our cameras are trained on that podium for the white house rose garden speech that we are expecting from the president. the second he begins speaking, i promise you we are going commercial-free right now so that you don't miss it when he does approach this. we had originally been told 3:00 p.m., then 3:20. i just want you to know right now, eastern time it's 3:21. so perhaps they are putting finishing touches on it. i am reading these headlines for the moment. treasury secretary steven mnuchin would like to keep negotiating on a house bill, house bill regarding coronavirus and any kind of aid that the house of representatives can put together for the economy and for citizens of the united states. he says he told house republicans according to the "wall street journal" he cannot yet recommend a yes vote on the house coronavirus bill but they do have the lines of communication open. fox business has been reporting all day long that we are now

fed chair jerome powell spoke to reporters about the rate cut soon after it was announced.

so we have also heard which is somewhat rare from fed chairman jerome powell. >> we are beginning to see the effects on the tourism and the travel industries and hearing the concerns from the industries that are relying on the global supply chains. the magnitude and the persistence of the effects on the economy remain highly uncertainty and the situation is a fluid one. >> and the question is and we have asked it before how easily monetary policy affects travel and supply chain, and fighting a recession and getting people spending and boosting consumer confidence, but if you are canceling vacation plans, and people are not crossing the ocean, it doesn't seem that the interest rates can solve it, but there is a brief blip to the positive and the dow down about 800 points. >> yes. and now, anna kirkpatrick is now co-authoring a op-ed slamming sites that she believes is hindering the leadership. it is issued to the federal gallo call out the federal monitor has been overseeing the department reforms which stem from the notorious rider case in 2003. kirkpatrick believes it is time for th

stock futures plunged after the federal reserve slashed interest rates to near zero fed chief jerome powell announced a $7 billion quantitative easing program to help prop up the economy right now dow futures are down over 1,000 points and capped at the limit in place to reduce market panic >>> now to the race for 2020, where coronavirus is dominating the debate stage in lou of a friendly handshake, joe biden and bernie sanders greeted each other with an elbow bump before going toe to toe with six feet of space between the two. the spotlight stayed on the pandemic and the health care president trump called it a very boring debate. nbc's dan scheneman has more. >> welcome to the unique event >> reporter: the two democratic contenders on stage. >> we're at war with the virus >> we need unprecedented action right now to deal with the unprecedented crisis >> reporter: coronavirus fighting the pandemic. >> we should be surging help to the places that are the most vulnerable we should have every single person that is in a nursing home being able to be tested. >> reporter: and the economic impact

fed chief jerome powell announced $700 billion kwaupt theytive easing program to help prop up the economy. right now the dow futures are down more than 1,000 points and capped at the low in place to reduce market panic. >>> parents are scrambling trying to come up with child care and their jobs. in new york city, parents got less than 24 hours notice. here is nbc's morgan >> reporter: forcing parents to figure out what is next. >> it's anxiety inducing at least state 25 statewide school closures have been issued impacting around 27 million students facing how abouting pressure from teachers and parents, new york city public schools close the nation's largest school system cities like los angeles and houston have done the same. >> i am afraid it will be longer than that. unfortunately, at this time, i don't know what we'll do >> reporter: this couple both work and with three kids out of public school, the concern is equal parts child care and school work. >> our schools don't push the online education so much they'll have to scramble and put something together >> reporter: at houston's pri

tomorrow morning on the "today" show an exclusive interview with federal reserve chair jerome powell. how the fed is trying to protect the economy and the financial markets. the "today" show begins at 7:00 a.m. >>> new at 11:00 font, scrambling to get tested. a no doctor's note needed covid-19 test site in hayward is proving so popular the pop-up facility is turning people away and is now setting up new hours of operation. nbc bay area's cheryl hurd is live in hayward. and cheryl, 9:00 a.m. is the magic hour for a lucky 100 people or so tomorrow. >> reporter: that's right. 100. maybe even 150 people will be tested here tomorrow. that's because the fire department is having some staffing problems. but if tomorrow is anything like previous days the line for testing will be wrapped around the corner. people are working long hours here at avelino lab in menlo park. that's because lab technicians are overwhelmed with test kits from hundreds of people receiving tests for the coronavirus at tennyson park in hayward. on day three of free testing here, the drive-thru lab had to be shut down ea

. >> wrapping up with fed chair jerome powell responding to the coronavirus. we have a special webpage set up at c-span.org/coronavirus where you can see conversations and hearings we've aired about the virus. go to c-span.org/coronavirus. we continue with live coverage, we take you to capitol hill to hear from treasury secretary mnuchin answering questions at a house budget committee hearing. the ways and means committee chaired by richard neal. >> at the end of the day you can think you're playing well but the data, the film, the statistics will tell the story. look at the eye in the sky with respect to economic growth and the performance of this economy under the tax cuts and the regulatory relief. lowest unemployment in 50 years. millions of job crease ated. more jobs than we have people to fill them. historic growth in wages. and more growth on the low end of income spectrum than on the high end. more growth for the worker -- worker than the supervisor in terms of wage growth. millions have moved off of -- out of poverty, off of dependency on government w

stock futures plunged after the federal reserve slashed interest rates to near zero jerome powell announced billion quantitative easing program to help prop up the economy right now dow futures are down over 1,000 points and capped at the limit in place to reduce market panic >>> coronavirus concerns are already taking a major toll on the country's or tourism industy some of the most iconic vacation destinations have closed their gates. here is kerry sanders. >> reporter: spring break ending early. disney and most theme parks closing down until next month. since the magic kingdom opened in 1971, disney only closed four times because of hurricanes. it shuttered for a few hours on 9/11. >> take potentially we would have been helping the spread of the virus. >> reporter: universal orlando resort owned by nbc's parent company universal, sea world, bush gardens, holy land closing sunday 126 million visitors come to orlando every year including this family from elk river, minnesota. there is not going to be a disney visit your reaction? >> sad >> reporter: do you understand why? >> yeah. yes. >>

central a selection of bankers speaking before and after jerome powell's announcement around the fed's emergency rate cut. kuba, -- laura cooper is with us on set in london. last 24 take in the hours. the question of the day, how do assets price central bank impotency or is it too early to say that was demonstrated yesterday? 50 basis point rate cut from the fed and the market sold off. for many, that made the fed look fairly impotent. laura: i think the capacity of central bank to stimulate the economy, the limited capacity is more of a second-round effect. what we are seeing now is the shock and all of the fed and markets trying to digest that. yesterday, there are two ways of reading what the fed did. were they too dovish? did they spook markets? was it seen as desperation, too much too soon? anna: because of the timing. laura: exactly. markets are positioning for coordinated policy action. it came shortly after the g7 statement. come out without other support, that spooked markets, as well. matt: is the concern here that the fed is signaling to investors how dangerous the situation

things are worse than when jerome powell decided to throw us into recession.n't set out -- >> we'll talk to kostin in a little bit >> i love kostin >> we'll watch circus breakers it's not a big issue today, but we need to fall 201 points on the s&p to trigger futures indicate we're not going to get near that at the open but it's something to watch. >> i don't want people to buy. i think we want to retest monday cash is king this is the first time in the bull market where it's not facetious. cash is king i think what you have to recognize is that until you hear congress, until you hear regeneron, something is good, you don't have any hat -- here's the hat. we don't have anything to hang on to. >> there's a longer opportunity than you typically think to buy stocks >> that's it >> yeah. >> like how i always felt about zinga. >> too early you always said too early. >> yeah. >> you have aers are happy for your son that's awesome that's nice. >> it was a while ago. [ bell rings ] >> he said the get has obj-like hands. >> there's the opening bell on the s&p 500. at t

jerome powell announcing its biggest surprise rate since the 2008 financial crisis, slashing its ben chbmark interest rate a half a percentage point. the move appeared to have backfired, heightened investor fears. the dow falling another 785 points today, nearly 3% after that up day yesterday. >>> now, to the race for 2020 tonight. super tuesday under way, voting in 14 states and america samoa. the biggest primary day, about a third of all delegates at stake tonight. joe biden with new momentum. bernie sanders coming into this evening with his coast to coast grassroots operation. mike bloomberg, of course, on the ballot for the first time tonight, spending hundreds of millions to get there. elizabeth warren facing a major test of her own tonight. and this evening, the preliminary exit polls coming in now. out of virginia, look at this, 56% of the voters said they would rather have a candidate who could beat president trump than one that agrees with them on the major issues. that same question from north carolina tonight, 62% of voters said it's more important to beat president trump