david: lieutenant governor kathy hochul, thank you. "balance of power" on bloomberg television and radio. ♪ ♪ david: this is "balance of power" on bloomberg television and radio. i'm david westin. the federal reserve is doing all it can to cushion the economic blow from the coronavirus crisis, including by helping small business. alix steel spoke with a former fed governor about this just this morning. i think the fed is surely going to expand their balance sheet further, probably quite substantially further. the issue is, what kind of assets they by orlando against is one that they are not going to make just on their own. remember. under their authorizing legislation, which was re-emphasized by congress indicators act, the fed is not supposed to take losses on the emergency lending it does. so the question of how hard to extend is in part going to depend on the degree to which secretary mnuchin and the administration are willing to use those funds that congress appropriated to back various kinds of assets, some of which might entail s

for western new york, we have my partner, lieutenant governor kathy hochul, who everybody know ds is from buffalo, we're going to ask her to take charge of western new york, monitor the public issues. if there is a problem with public health, we'll monitor all the resources across the state and also to start work on the reimagining and reopening plan for western new york. we're also going to ask bob duff duffy, who worked with me in the state, to organize public health and reopening in the finger lakes area. we've gotten through difficult situations before. western new york, we went through 7 feet of snow a couple years ago. that was fun. we learned from that. this state, we went through 9/11, which was a crushing experience, but we learned from that and we're different and we're better. we went through superstorm sandy, and we are the better for that. and we're going to be the better for this. i believe that. it's the hard times in life that actually make you better and make you who you are. if you're intelligent enough to learn from them and to get the message from them. that's wha

kathy hochul will coordinate that with the local officials. i think the better question is, and when we reopen, what did we learn and how do we reimagine western new york to be the better for it and what lessons do we want to take forward when we do the reopening? and then on the reopening, how do we phase it? what business is first, do we do it by percentages. let's talk about all of that. it's the when and the how, data driven on the when. not political pressure on the when where people are yelling at me. i want to open because i don't want to take the political heat. if you don't want to take the political heat, you shouldn't be in the political kitchen which is called being an elected official in the state of new york. i have to get to washington. thank you, guys. >> schumer said there could be a voted on the stimulus. do you have a hope that can change -- >> i think it's a terrible mistake to not provide funding for the state. i get small businesses, airlines. how about police, fire, health care workers? how about teachers? >> there you h

my left, governor kathy hochul. i partner in state governor -- and a state government who has been a true treasure to the state of new york and to kathy candace johnson from roswell park cancer institute which is where we are today in buffalo. roswell park is one of the leading cancer institutes in the united states and a real jewel for the state of new york and i thank her for their spot -- there hospitality today. let me give you some of the facts. one of the points we want to in westernis we are new york, buffalo. we have been talking a lot about new york city and the situation in new york city and long island and westchester and rockland. virus presents a slightly different problem in different parts of the country. it also presents a different problem in different parts of the state. overall, the total hospitalizations are basically flat from where they were yesterday. you see the overall curve is on the way down. that is good news, certainly. the net change in hospitalizations is down. not down as much as we wo

kathy hochul,was lieutenant governor of the state of new york.el restrictions and mandates to stay health, fewer people are traveling or driving. auto insurers are now returning some money to customers. allstate announced it would give back some $600 million. great to speak with you once again. you could start by explaining what prompted this decision to give back the premiums, and whether there is any historical precedent for this? i wonder if there is any event that served as a playbook for you? we have been in the business for 89 years. typically, it is hurricanes, wildfires, things that are more concentrated. i have never seen anything like this. but we have seen is we know what works in those situations, which is act quickly. frequency of the number of see how farng, we people drive come out fast they drive. in the beginning of march, it was fine. data,a week's worth of this is different. we need to do something differently. we decided we should reach out to our customers and not wait for them to ask. in the spirit of fairness, you are not d

. >> new york lieutenant governor kathy hochul. thank you for your time this morning.reciate it. >>> up next, we take you to the front lines of this crisis to hear from two emergency responders, including an er doctor that says despite what you're hearing from president trump, he still does not have enough test kits to fight this pandemic. in case you forgotten, there is a presidential election going on. former vice president joe biden joined brian williams last night. the man leading the race for the democratic nomination responding to calls to postpone the party's convention in july. >> can you really envision every predominant democrat in this country from all 50 states inside a hot arena, 104 days from now? >> it's hard to envision that. we should listen to the scientists. the fact is, it may have to be different. my guess is, there's going to be a great deal more absentee ballots that people will choose to lose rather than show up and have social distancing. >> the convention has preserved through civil and world wars, but it may have met its match with covid-19 i

for western new york, we have my partner lieutenant governor kathy hopeful who everyone knows is from buffalo. we are going -- lieutenant hochul whothy everyone knows is from buffalo. are marshaling resources and a starting work on the reimagining and the reopening plan for western new york. we are also going to ask bob duffy who works with me in the state to volunteer to be a special advisor to coordinate public health and reopening in the finger lakes, the rochester area. we have gone through difficult situations before. western new york, we went through seven feet of snow a couple of years ago. that was fun. we learned from that. 9/11,ate, we went through which was a crushing experience we learned from that. we went through superstorm state -- sandy and we are better for that. we are going to be better for this. i believe that. it is the hard times in life that actually make you who you are. enough to intelligent get the message from them. that is what we half to do here. we need to do it individually, we need to do it collectively. what did we learn about ourselves, about the country from this period? you get knocked on yo