kevin hasset, one of the president's top economic advisors is predicting the unemployment rate could% by june. and he's saying that's like the great depression, right? great depression peaked at 16.29%. these are unimaginable numbers. yet he comes out and says this, austin. as the president of the united states says something different. this is kevin hasset today and here is donald trump today. >> gdp tomorrow will probably be a negative number and that will be just the very tip of the iceberg of a few months of negative news. it's unlike anything you've ever seen. >> third quarter, it's obviously a transition quarter, but i think it's going to be okay, maybe better than okay. i think fourth quarter will be great. and i think next year is going to be a tremendous year for this country. >> why do you think they aren't on the same page? is there any possibility that in a sense it's coordinated? you've got the good cop and the bad cop, then if trump doesn't hit 16% unemployment, he looks good? or do you think they're just not on the same page? >> that's an interesting idea that i hadn't

today senior white house advisor kevin hasset delivered a dire warning but treasury secretary steven mnuchin had a much different message. >> it's a grave situation. george, this is the biggest negative shock our economy has seen. i think we're going to be looking at unemployment rate that approaches rates that we saw during the great depression. >> i think as we begin to reopen the economy in may and june, you're going to see the economy really bounce back in july, august, september. and we're putting it in an unprecedented amount of fiscal relief into the economy. you're seeing trillions of dollars making the way into the economy. i think it will have a significant impact. >> joining me now to discuss is an economics professional at the university of chicago business school and former chairman of the council of economic advisors under president obama. good to see you. >> great to see you. >> which scenario do you believe and how can the white house have the contrasting messages? >> yeah. look, what kevin said is undeniable that the unemployment you've already seen the up and - unem

earlier we heard from kevin hasset. he was brought back into the administration administration. talking about 16, 17% unemployment. those are rashabemarkably stark numbe numbers. they said you could have a v shape recovery. now the united states government, the federal government wants to get back into testing, wants to increase the level of testing which seems to be a directly undercutting what they have been saying up to this point. they are insisting the u.s. government at the federal level be the testing resource of last reso resort. >> we know what the motivation might be for taking anthony fauco or debra birx out of the daily briefings, making them less visible, if that's the case. >> i'd be careful on saying birx or fauci is out of the loop. they have rotated individuals in and out. the president's has been clear he won't take whatever they say. he'll weigh that against other interests. wo has the last word. we'll see today, whether or not birx or fauci sit up front or whether they're there or involved at all and whether or not this looks more like a traditional coronavir

>> i agree with kevin hasset and what he's saying about unemployment. in fact, we're seeing it.seeing it real-time. we see unemployment claims every week in the u.s. economy. remember originally small businesses and all businesses in america went to the stay-at-home orders, and that meant for many small businesses they instantly laid off their work force. that was the only prudent and rational thing to do. since that period of time we've now had the government come in with sweeping policies where they're trying to replace income with the ppp and other programs that we have in place. as the ppp money gets into the system, remember that 75% of that money that companies receive has to go back to pay wages for your employees. so those employees that were terminated by small businesses, when the money is back, those employees need to be hired back and those companies need to pay those wages out. hopefully people will regain employment and they'll come back into the work force. so i do agree initially we were going to see very high unemployment numbers. the stock market in itself look

. >> and also tonight, the president's economic advisor kevin hasset says the united states could seenemployment numbers like the ones during the great depression where, of course, unemployment peaked at 25%. and that unemployment so far is hitting women particularly hard. women, in fact, account for 60% of the job losses over the past two months. young law is out front. >> reporter: this is charlottesville main's small business. seven days a week 7:00 until dawn. >> we were on the verge of something great. >> reporter: single mom, owner of popped fresh was catering awards shows and movie premieres weeks ago. >>> how long can you keep going? >> really not much longer. it's so disheartening because i thought this was going to be something i had for a long time. starting all over again will be tough, you know. that's a lot of people to compete for jobs with. >> reporter: 26.5 million now out of work, especially hard hit women. 60% of job losses in february and march were women, exceeding men in nearly every sector of the economy. coronavirus gutting retail and leisure hospitality where

at 8:00 a.m., kevin hasset on weighing the realities of opening america. david is here on how his company changed and tom on the state of the auto business all with opinions on how to open the economy coming up. the lockdown debate continues. that's next. we zero in on that. back in a moment. maria: back, we are expecting a vote either today or tomorrow helping small businesses further. treasury secretary mnuchin saying he's close to a deal with democrats for more money toward emergency loans. i spoke with senators john borrasso and tim scott and both will vote yes to second raise of funding for the paycheck protection program, watch. you say it needs more money. it's run out of money, right? >> it ran out thursday. there are small businesses and paychecks needed to be gotten taken care of. there's people still applying for the loans. i see it in wyoming, it's been very successful. $350 billion already spent. it's helped 15 million americans stay on the payroll. >> i like to say that the democrats are holding this up. realize you're not negatively impactin

. >>> white house economic adviser kevin hasset will be on the show but he warned unemployment levels could hit not seen since the great depression speaking to reporters on the white house lawn, he said the unemployment rate could hit 16%. warned the next couple of months will be terrible for economic data that's at 8:00 a.m. eastern is when we will speak to kevin hassett, who's back. he was gone and now back an economic adviser at the white house. >>> on this week's agenda we have the busiest week for corporate results. more importantly, guidance on what's going to be coming next 142 of the s&p 500 companies will open up their books this week we'll be hearing from 12 dow components, including caterpillar, 3m, microsoft, apple and boeing again, joe, it's really not what we're hearing about the current quarter but what they see, what they're anticipating and happening in this month of april as well. >> life and corporate maneuvering goes on. speaking of boeing, becky, i love those embeaer jets, i fly them all the time on the short flights we see that was a key part of boeing's strategy