michael mckee, final word on this one?the treasury secretary is supposed to determine whether countries manipulate the rate of exchange for purposes of protecting effective balance adjustment or gaining unfair competitive advantage. on that basis you go back to what jeremy said about intervention versus manipulation. the swiss would say we are not manipulating the currency, we are just trying to hold our currency at a reasonable level so it does not affect our economy. i think jeremy is right. it will probably not mean anything. the law requires the treasury secretary to engage in negotiations with currency manipulator's. it does not mean a lot. let me point out one thing in the retail sales report. i know you want to get to michelle. down, but ations clothing sales down 6.8% in november and 3.4% in october. general merchandise and department stores down 7.7%. the narrative we were buying is getting a little bit of an adjustment. we are not buying online. retailers, .2%. -- tom: mr. mckee, thank you so much. watching three

it was better when michael mckee was hermetically sealed before.t i have seen off the bloomberg is a set of headlines showing the two americas. the number of u.s. unemployed for 27 weeks rising, almost 4 million, a stunning headline if i can find it. michael mckee, the jobless rate higher if workers were classified correctly. do you trust this data? michael: you trust the data as much as you can. with thisme up alternative unemployment rate number. it is basically the data we have. we know statistically it is about as good as we will get given how much data they collect and the difficulties in this pandemic. it is comparable to prior months. that gives us something to work with. quickly looking at some of the numbers in terms of hiring. --ernment employers employment and local government down 21,000. we saw 86,000 fewer people working at the federal level because the census is ending. some distortion upward. tom: what you see in the markets? quick drop&p 500, a after a huge downside surprised, and then a quick pop. now we are higher than where we w

michael mckee's expert at this. bloomberg economics and policy correspondent and he joins us this morning. e. is a high-frequency mckew we treasure weekly data, don't we? michael: we do and we have. the problem is it is so hard to measure. we do not know what data is telling us what. the high-frequency data telling us things have slowed down in october and november as the pandemic has re-accelerated. you look at numbers that came out yesterday, not a lot of change. market pmi for the month went up. you have to take any kind of forecast with a grain of salt. one interesting thing i want to point out to you. tomorrow will be here at eight: 30 talking about jobless claims. the government accountability office found after investigating the jobless claims numbers are not accurate. there is too much duplication, too much fraudulent claims, so they will start putting a warning label on the jobless claims numbers saying you cannot take them at face value. tom: this is important, and i missed this because of my sabbatical. b

michael mckee, of course.or different claims report after some of the criticisms on the data over the last couple of days. right now we want to digress. withl tennenbaum with us oliver wyman. what we want to do is give you people that own the domain they live in. that is mr. tannenbaum. he is a partner at oliver wyman. good morning. i know jon and lisa want to migrate to china, as we heard from jack lew moments ago. i want to ask you about an assassination in iran. this is serious stuff, and the biden adminstration comes into an iran-u.s. relationship that is not trump iran frankly or bouma -- trump iran, or frankly obama iran. what does that look like? it is important to note that while the biden adminstration is preparing to clearly take office in january, we still have 49 days of a trump administration and trump allies acting around the world. i think you are certainly seeing in thetrying to box u.s. from restarting the iran deal. iran needs to agree to reenter the deal given that they derive no benefit out

to our very own michael mckee. language has changed for 2020 where we can say we are pessimistic about a deal north of half $1 trillion. tom: james sweeney has been way out in front. i go back to what matthew liz eddie has said. i said what is the all in blended unemployment rate, he did not miss a beat, he said 12%. the worst of the crisis was 10%. the clarity of who succeeded in this crisis is frightening. jonathan: i will not forget that labor market report. remember -20 million, how could you forget? worse than that. what stuck out is that wages that day went up in that employment report. wages surgedd -- because the low-wage workers got decimated and fell out of the report. tom: mike mckee was great on that. there was a noise about all of the government stimulus and aid. where is that now to support consumption in america? jonathan: from new york and london, good morning. heard on bloomberg radio, seen on bloomberg tv, this is "bloomberg surveillance." ritika: with the first word news, i am ritika gupta. a 90-

mckee, alwaysael great to get clarity from you.oining us is lara rhame, fs investments chief economist. if you can build on that, what are you looking for this wednesday? lara: i agree. they have talked about wanting to do something soon. i think they will try to be more specific about locking in forward expectations. financial market support and economic support. something we forget if we look back at prior expansions, we do not know when this recession will end. 1991, 2001, the fed was cutting interest rates in the first 18 months of those expansions. they are actively supporting an economy as we are coming out of a recession, and it is not a coincidence if you look back in 2009, interest rates were at zero. it puts them in a spot where they cannot do the additional support. qe we had wase 2011 and 2013. that is a sign of how years into the expansion they were still having to support the economy. very different recessions, very different expansions. the point is they are gearing markets up for the idea they will have to be accomm

it is a holiday workweek for michael mckee. i can say that is good is tomorrow is worse than today. michael mckee. what if we got. we are waiting for data. this is your 15th look at gdp? michael: it takes a while for it to come back. everyone hits the button at the same time. waiting for the third look at gdp. the economy grew 33.1% in the third quarter. he realize the economy fell 31%. tom: personal consumption up 40%. can you explain how personal consumption can go 40% when lisa and i see the storefronts of america? lisa: amazon.com. michael: much of that is through non-store retailers. remember in the summer time you were ordering everything online, and i mean toilet paper and sanitary wipes at all of that stuff? and groceries were delivered online much more than normal. everybody went online to shop. while we are waiting, i have a chart. i do not know if they can throw this up. wastore retail sales, i going to tie this into consumer spending because the third quarter numbers are things we already know have gone past that. i

david: thank you so much to michael mckee.l be a special on bloomberg, "the fed decides," at 2:00 p.m. eastern today. stay tuned for more "balance of power" on bloomberg radio. this is bloomberg. mark: congressional leaders are close to a code relief package. the two sides a major headway according to mitch mcconnell. speaking on the senate floor, leader mcconnell said the two sides have agreed not to leave town until a law is passed. british prime minister boris johnson is the urging the government to exercise extreme caution and avoid visiting with elderly people over the christmas holiday. he stopped short of canceling plans to let households mix. the prime minister told parliament he is not trying to criminalize people's holiday plans. >> a smaller christmas will be a safer christmas and a shorter christmas and a shave -- and a safer christmas. inn we say three households five days, i want to stress that these are maximums, not targets to aim for.

lisa: if mike mckee was here, i know he would center in on claims.see it on wednesday, the shock of 885,000 last week, and may be the survey is in a little bit, but i guess to me, everything is said and done, that is the key number this morning. lisa: so you are going to build that like a set? tom: i don't do legos. i was being nice, but i don't get it. you step on them, and defer them out. i know the ceo of lego will be with us tomorrow. been has mr. ferro reaching out to you to taunt you about the tots? tom: no, it's been radio silence. he's on tier seven lockdown. when does ferro return? do we have a reentry date? [laughter] lisa: i will say, looking at markets, he is not missing that much today. you are looking at pretty quiet turn ahead of the vacation -- quiet churn ahead of the vacation. tom: we welcome you all on bloomberg radio and bloomberg television to our simulcast. off of the political news in washington, we turn to economics. data, someconomic important analysis from diane swonk of grant thorton. stay with us. this when you switch to x

that is michael mckee, bloomberg international economics and policy responder. go to the chief economist from the national economic council. we will talk about the stimulus, but just for a moment we have a lot of issues going on in cyberspace with the russian attack, apparently, on u.s. computers as well as more companies being blacklisted. from an economists point of view what are the ramifications of the economy if we cannot protect our computer systems? joe: thank you for having me on. it is very important economically. economics is all about confidence. you have to have confidence in the system. ambassador o'brien who heads the national security council cut his european trip short because of this. earlier, ourid administration has taken action against parties that pursue the illicit actions, the improper illegal actions. weis obviously something take very seriously and are on top of the case. obviously going forward cybersecurity is something we have to deal with. not just publicly and for security purposes, but at the corporate level as wilbur you have had

mckee said with hospitals in every region and state running out of capacity. care could be compromised. >> people won't get access to the critical karr machines and health providers because there's no other place to go. >> stilling is surge now will change the projectry. >>> san francisco school officials took the first step in bringing back in person learning for element rye students. it the first step in gaining approval the are you o'campuses. bringing back students in phases. bring the first back on january 25 and the six on fib eight. >>> coming up, a vaccine set to ship to the bay air. what whichever learned. >> and coming up a spacex test rock it explodes. why it's a stip toward carrying humans to mars. today's ways of working may work differently tomorrow. but you can work out anything with comcast business. get fast, reliable, and secure internet on the nation's largest gig speed network. flexible tools - like wi-fi you control. voice solutions that connect you from anywhere. and expert advice here, here, or even here. be fast. be flexible. bounce for

david: thanks to bloomberg's michael mckee.pec-plus has agreed to a small production hike according to delegates. to explain the significance of this decision, we welcome daniel yergin. it happened just a short time ago. thank you for joining us on this. as i understand they said we will go up 500,000 sedate -- 500,000 barrels a day. does this make a profound difference in the market overall? daniel: what it does is says the neil is not going to break up. when you have 23 nations that come together and looking at negative oil prices, they make a deal everyone sticks together. as prices start going up people start looking at their own interest. saudi arabia has one of you, russia and other, the uae and other. they cannot afford to not have a deal. there are a lot of digital bilaterals that had to happen. this is a gradual one that does ultimately get to what they've agreed to in terms of bringing production back. it shows you how hard it is to bring 750 million barrels of oil over a year back into the market. david: particularly

david: thank you so much to michael mckee. we heard from fed chair jay powell about his concerns for the u.s. economy even as president-elect biden is about to make a formal announcement. roger altman went to wall street to washington as the secretary under clinton and then referred to found evercore. thank you so much for being with us. it is a point of juxtaposition. where is the economy, how much .o we need to keep us going what is your assessment of how bad the economy is? roger: have a split screen -- a split screen character the economy given that the period between now and the vaccine is a period of acute need. postvaccine, and i do mean universal distribution of the ofcine and post vaccination a high percentage of americans, we should see growth. it is interesting that this is very different than the foundions that mr. biden on becoming vice president in 2009. it is an interesting contrast. at that time the stock market was falling, unemployment was rising, the economy was weakening, the worst was yet to come. today it

tom: michael mckee will be here with an original report at 8:30. there's no idea what those numbers are going to be or how constructive as well. what is fascinating to me about the labor economy is when it changes and it gets worse, how will the markets react? i think that is the huge mystery into january, and frankly into the first quarter of next year. jonathan: here's the price action this thursday morning. equity futures doing absolutely nothing on the s&p 500. up two points, near all-time highs in the fx market. euro-dollar with a near 21 handle. when do they step in and say we don't like this? the we being the ecb. 0.93 percent is where the 10-year is right now. to be precise, 0.9277%. big move in the bond market. yields up. yields higher. a real debate in this market as to whether the fed will tolerate that move, whether they will step in the next couple of weeks. tom: i know our guest is going to get to this on equities as well. put the euro in perspective. it is out 2.7 standard deviations. that is a massive jump condition in the strong eu

thank you so much the michael mckee.here is a rare wednesday afternoon nfl game between the baltimore ravens and the pittsburgh steelers, one that has been postponed because of three times because of ravens players testing positive. one of the many disruptions to a season like no other. we welcome one of the stars of the game. darrell green was a quarterback for the redskins for nine years. he is a member of the hall of fame and now serves as vice president of strategic marketing give us your take on what is going on but the nfl. roger goodell is trying to keep this going. use of the broncos had a call up someone who had not played since he was in college to play quarterback. it is pretty ugly. darrell: i'm certainly not going to bash anybody. this pandemic is -- i'm 60 years old. we have never seen anything in our lives. there are no experts on how to really do this. you can follow this model or that model for the last five or six months. at the end of the day they have a good strategy in place. they are working with pe

michael mckee, thank you very much.do want to go to capitol hill, where they are now taking questions. represent of the maxine waters is asking the first question -- represented of maxine waters is asking the first question. senator mcconnell filed a covid-19 bill that would change the law to require the fed to close all of its 19ilities after january 2021. if law already required to this, this bill wouldn't be necessary. the c.a.r.e.s. act was passed to stabilize the economy during the entirety of the pandemic, not until the end of your tenure as treasury secretary. secretary mnuchin, it was reported last week that you intend to transfer the unused portion of the c.a.r.e.s. act $500 billion appropriation to treasurer's general fund so that the next secretary can't have access to the funds. however, section 4027 of the c.a.r.e.s. act explicitly states that funds may only be 2026,erred on january 1 2026.fore january 1, what you are doing is contrary to what is lawful, and it puts our entire economy in jeopardy. what's mo

michael mckee. the u.s. reporting its deadliest day ever with covid-19 fatalities now topping 2700 on tuesday. california reported a record number of new pick -- of new cases that prompted la's mayor to order residents to stay home. >> my message couldn't be simpler. it is time to hunker down. it is time to cancel everything. and if it isn't essential, don't do it. don't meet up with others outside your household. don't host a gathering. don't attend a gathering. following our targeted safer at home order if you are able to stay home, stay home. alix: joining us to discuss is a senior scholar at the johns hopkins center for health security at the bloomberg school for public policy -- for public health. we need some perspective. just how bad is it in l.a., and how often are we going to hear what the mayor talked about in other cities going forward? >> what we are seeing is that there are hospitals realizing that the number of cases and the pace of the missions is unsustainable. they are getting to the point w

tribunals transcript major general come she mckee oh she's interrogation or colonel. says so she's a little short in the old boy used as though she dozed off on the c.t.o. course because she don't know mamma. you mean you know we did you know and you know it was all singed don't just say so long as you hold little chose your knees or go eat a lot short then get. there you know know when to shorten your hate i even feed. it was. 10 no no coconuts you walk us without the kids we waited till till. then the law made in. general. decreed the lower of some cool sock with the 3 bulls policy which said kill whole. mass killings took place collision in japanese occupied territories. in just 6 weeks more than 300000 people were tortured and killed in king japanese soldiers believed that they represented an exceptional nation and i don't license to do anything. on the ng in. those who don't know what i got those as the. means oak says the water was so clear i got out the world. of the english nation when it comes to colonize ation it has accomplished the impossible so. many hist

michael mckee is our international economics and policy correspondent.ing up, we will talk with greg fischer, the mayor of louisville and the president of the mayor's conference about what his city and cities across the country need in the wake of this pandemic. that is coming up next on "balance of power" on bloomberg television and radio. ♪ this is "balance of power" on bloomberg television and radio. cities across the country have been hit really hard by the pandemic. both their healthcare systems have had a lot of pressure at the same time businesses and economies are wracked. we welcome the mayor of louisville knows the situation on the ground. he is also the president of the u.s. council of mayors. thank you for joining us. let's start with what is timely in washington which is the proposed stimulus compromise that may go forward this week although apparently at the cost of having assistance for state and local governments. how badly does your city and cities across the country need this help? mayor fisher: good to be with you. this is a dire time

we look of the roadways right now we have a trouble spot in the south bay working north on 101 at mckee. look out for a couple of cars tangled up there. we are tracking a few brake lights. chp headed to the scene. there is at least one lane blocked a slow right now heading out of san jose. past that point the rest of the peninsula checking in problem free. looking at traffic into the ultimate pass, the other busy spot, westbound 580. 205 toward 680 will take you 33 minutes for your travel time. the good news is that earlier accident on 680 near the dublin interchange is now clear.>>> right now an independent advisory panel is meeting to vote on whether the pfizer covid-19 vaccine will be the first allowed in the u.s. the shot could be available by the end of the week if the fda gets the go-ahead approving emergency authorization. a group of physicians at the mayo clinic is encouraging everyone to get vaccinated, not just those in high risk groups this creates a committee community of minority which means we could see fewer hospitalizations and fewer deaths. >> some vaccines that we have

bloomberg's michael mckee. vincent, stick around. i want to ask you a question about the pound. first, let show everybody what is been happening with european equity session. pushing up into the close. the ftse outperforming. there is the stoxx 600. up today, but the momentum continues. fascinating to watch the new drivers. the pound a factor in the mix. 1.9%tse 100 rallying, up come outperforming continental markets. there is sterling. a push higher. time we have seen the move lower in the dollar. you also have some headlines suggesting this afternoon that the talks on brexit are entering the tunnel, the intensive phase. i have to say there is a significant caution around exactly what is happening and whether or not that needs to be taken with a large pinch of salt. that is now being reflected in the markets. the timing seems to suggest we would get to a conclusion towards the back end of this week. that looking more dubious. the pound up before fading. part of this is probably down to what we are seeing on the dollar. market- vincent, the seems to be on a hairtrigger waiting f

crowd does not believe he lost in georgia so he came in as a victor and as such he have made that mckee other republicans who are trying to help him have said do not vote because these election machines that were used are bad full of so multiple messages, some to suppress the vote, now donald trump is in georgia trying to get it out. it is a confusing situation and i cannot make a prediction. we appreciate your time, great to have you on. as we've been reporting, coronavirus vaccines are beginning to be rolled out, but scientists say it's more important than ever that new infections are kept under control. a moscow correspondent has more. this is one of the moscow clinics that is now rolling out russia's sputnik vaccine to the population. first of all, doctors, medics generally, health workers, teachers and social workers have been invited to receive the vaccine. it is still in an experimental form and mass trials are still under way. but the chief doctor at this clinic says she is confident it is fine to roll it out now. translation: this vaccine has been officially registered. we have

alix: thank you, michael mckee.ad a recent report with shifts in supply chains from the pandemic, factors, digitalization, all having big if a man came -- applications. us.cis lim is joining when you look at the overall report, one of the big things you dig out of is that the world is changing what we do. we know the story. we are buying less shoes and more services and how do you handle that in the middle of globalization and trade? frances: thank you so much for having me on. global trade is changing and what people aren't aware of is that the nature of trade is changing. the segment ahead of me that you highlighted how merchandise trades are going up and now that is evolving due to a number of economic factors. you need to understand the drivers behind the supply chain. westrce is shifting from to east. you have a shift to an economy that was previously investment driven, to one that is now consumption driven. within that consumption, you will appreciate more services, health care, education over goods. the most

here is michael mckee, joining us now. >> calling it an economic aid package is a good idea, becausetimulus bill, it is more of a lifeboat. especially for small businesses. the help comes too late for many, and a failure by congress. something is better than nothing. much of the aid is concentrated for small business. package, third of the $325 billion. $284 billion for the paycheck protection program loans. keep paying your employees commend you do not have to pay the bill back. it expands eligibility for local newspapers and tv broadcasters. it also has $20 billion for economic injury disaster loans that can be used for a wider range of expenses. businesses that receive ppp loans will be able to take next deductions covered by the for bigger bubble -- the forgivable loans. 200 billion dollars, not counted in the bill in terms of the woulds for the bill provide $12 billion in support to small lenders who are focused on low income communities. about $13uld get billion for new relief to crop farmers, cattle ranchers and rural communities. also, tax deduction for business meals, design

joining me now, michael mckee. set the stage for us, mike. mike: it's an interesting story, it shows the difference between fiscal policy and monetary policy. let's hope that they come through with fiscal, because jobless claims are in terrible shape. 862,000,ast week from which itself was an increase. labors to show that the market is deteriorating. we saw the same with the philly fed numbers today. from 27, but the jobs part, from 27.2.ex, a .5 -- 8.5 from 7.2. the monetary policy side, housing starts were up more than 12% on a year-over-year basis because of course thelowered ine are seeing the lowest mortgage rates ever. so, we are seeing the power of the fed, but they can't do anything about the labor market because interest rates don't matter here, the virus does. alix: 2.6 730 year fixed? i didn't call the bottom this time. mike: you are jealous. [laughter] alix: mike is going to stick with me. jay powell struck an art been a stick tone and promised that the fed would keep dividing support. based guidances outcome and tied towards prog

virtual press conference and to questions in 30 minutes time tom i'm joined by my cohost keene, michael mckeefor. let's go to mike for the decision. change in monetary policy come that was expected. they will not buy anything more. they are going to keep buying $80 million of treasuries and $40 million worth of mortgage- backed securities every month until "substantial further progress has been made towards the committee's maximum employment and priced ability goals." these asset purchases, the fed says, help foster smooth market functioning, thereby supporting the flow of credit to households and businesses. sticking an extra sentence in there to clarify that they are tying

mike mckee, what are we looking for? mike: we are looking for a lot and getting it. as the choices are basically three according to people on trading desks. one is that they can change their forward guidance and tie their rate moves to unemployment and prices to emphasize lower for longer. they can buy more bonds or change the weighted average maturity of their balance sheet per folio and buy longer maturity funds or sell short i long as they did. the yield term -- curve has steepened and rates have risen, but it is a 10 year note yield going to affect the economy? it is relatively cheap. financialo fed's conditions index out this morning is near a record low. mortgage rates are near a record low. it is not really a problem for the economy, so does the fed need to do anything? -- thees would be to consensus would be to change the payments. currentld be over the continuation of buying over the next few months. this is economic and plot a 3.7%ts and you can see decline for 2020. if they raise that all, it might be some news. they might be cutting it given the retail sa

bomb went off in october of 1984 that killed her father now bomb was planted by a man named patrick mckeeho was a member of the ira which is a paramilitary group in ireland fighting the british for it her story was about a person who was pushed to the edges herself and had to find a new way to be with herself and in with her story to reconstruct her story in a way she didn't expect you'd have two. it wasn't just the drama and the trauma. it was what she did with her pain and how she spent years cultivating within herself the capacity not just to sit with patrick mcgee one day which he did in the year 2000 but to be able to listen to him with curiosity and openness and empathy. her story is one of meeting patrick in 2000 now for the last 20 years they have spoken together over 400 times about how it is that we can live with the people that we find difficult to live with, how it is that we can cultivate and imagination of the world where there is no other and where we can look into the eyes of the person they killed our loved ones and to be able to say to them i'm not your enemy. i'm so thr

michael mckee joins us with those numbers. michael: the u.s.s tightening up, and china growing strongly. moving ahead of other industrial economies on the strong data we have seen from retail sales, industrial production, and investment. industrial production up 7% in november. then we's all retail sales rise by 0.5 percent. as you can see, with the fixed income investment rising 2.6%, the basic thrust of all of this is to move up. that sets the stage for a strong 22 anyone. -- strong 21. -- strong 21. the world is buying a lot of ppe , medical equipment, and work from home electronics from the chinese. they still have work to do one imports because at this point, it is an export driven recovery, but is still good move -- good news for them overall. it likely that china is going to be the only major economy to grow this year. the forecast is for a 2% growth rate for the year, and then you look at 2021, they haven't had this kind of growth since 2011. a very strong year ahead for china based on the fact that they are able to be open and make the

.-- mckee i ignore them because they are never right. what is necessary is that legarde needs to use that triple negative and that will bring that to a halt. lisa: only if you use your triple leverage cash bond. jonathan: if she was as gloomy, what could you get off of the back of the assessment? what kind of whales? decide if we not will not raise interest rates and not in placement -- inflation. lisa: she is taking her money in triple leverage cash. tom: they are moving all of the duration into a cash equivalent. jonathan: coming up on the ofgram, credit suisse head macro and trading stress today. i will sort it out later. we are negative 10th of 1%. >> they agree that talk should continue despite major differences. they said a decision would be made on the future of negotiations. airbnb's initial public office it -- offering is out to a record late -- record year. it is above the market range to raise $3.5 billion. that gives airbnb a market value of 47 billion. shares became -- began trading today. raised 360ave billion on u.s. excha

good morning, michael mckee. mike: maybe not a good morning if you're looking for good news.e are at 885,000 jobless claims. that's up. we are waiting for the revision now. the forecast was for 818,000. we are seeing the signs of an economy that is slowing down and people are losing their jobs once again. you cannot trust the actual numbers, of course, the government accounting office suggesting the numbers can be off, but the trend is not good. this is a time of year when it is hard to seasonally adjust because of the holidays. but you cannot look at this and it say it is good news. housing starts at one mile male 540 7000,ne up by 17,000 from the prior month. a 1.2% increase. up from permits are 1,000,545. so the housing market continues to be strong. and with rates where they are. the really bad news of the day was something i was not even anticipating, the philadelphia fed index at 11.1. it was 26.3 last month. the forecast had been for a drop to 20, but it dropped more than that. and the employment number is the one that really caught my eye. let me call that up. it drop

we welcome michael mckee's, or international -- our correspondence.r said last week the rate of increase of infections might cause him to shut the city down. mightyor today said that be something that could actually happen and people should start to prepare. you are already working from home. mr. de blasio said everyone should consider working from home if they can. restaurants are shut down except for outdoor dining and take away. it doesn't look like outdoor dining will be a big part of anybody's nights the next couple of nights as we prepare for a blizzard in new york city. the city getting ready to face what it faced in the spring again. david: as for restaurant owners are having a tough time as many are. thank you to our colleague. after approval late friday of the vaccine it is being distributed in some people are being an oculus navy today. we welcome somebody who was the lead investigator of that vaccine, dr. mark mulligan of nyu langone medical center. he is also the director of the infectious diseases and immunology division of langone medic

gerald mckee gun from chabot space and science center has details on how you can see it. >>so what you want to do is wait hold about 30 minutes after sunset on saturday the december and look to the southwest and they will be low in the sky in the southwest sky about 30 minutes after sunset. >>and say you won't see them necessarily as to plant, she'll see them as just one great maybe a little fuzzy because they are quite overlapping each >>and you know like a sail a pair of binoculars or a small telescope and you can easily see that there's 2 planet's >>that's pretty cool. that is pretty cool scientists believe that we won't see another christmas star. until 28. >>sooner than a 100 years though alright next here on kron 4 news at 8.30. salons and gyms are prepared to close again ahead of the state's stay-at-home order so how business owners are coping with these new restrictions and did you book an air bnb during the holiday season. what you need to know as more more counties start to implement more covid-19 restrictions and major league baseball teams, they lost a lot of

let's break it down with bloomberg's mike mckee. we will get more stimulus. michael: putting the brakes on the labor market, seven straight months of job gains, but each one slower than the last. net 245 thousand people went back to work in november. that is significantly slower than we have seen every month since we started gaining again. private payrolls, only 344,000. last month in october, that was 877,000. the un-limit rate does fall to 6.7%, but that is in large part because fewer people were in the labor force looking for jobs. here's the thing that i think is really going to be important as we look at how the pandemic reshaped the economy. you look at what happened with retail hiring. 35,000 jobs lost in retail in a month when they are usually hiring for holiday sales. createdad 118,000 jobs in the warehousing and courier sectors, which are the people who work for the online sales departments. it is a real change. finally, the total labor force is still 9.8 million below where it was in february. so no matter how well we have come back, no matter what

important it is to vote, i grew up between two kind of tough little mill towns, you know, coraopolis and mckeesrural. we were kind of country kids so it was small. the population was small in the township and my dad, when it became legal to vote at 18, i could not wait to vote. but my dad told us how to vote he said, "okay, now's -- here's who you vote for in the election today. so -- so i go, "okay." and i -- he told me. and i went, "all right, that all sounds reasonable. so i go to polls no line or anything. this was a smaller town. i go, "check, check, check, check. and then it comes to -- i don't remember who it was, water commissioner or something. and i go, "who did he say to vote for i can't remember i'll just leave that blank so i go tell my sister, pam, i go, "hey, pam, who was i supposed to vote for, because i couldn't remember? and she told me. and i went - my hand to god, this is the truth. we're sitting at the dinner table. and there's conversation and my dad goes, "how about --" i'll say mary smith i don't remember how about mary smith losing by one vote like that like - [ laughte

a crash northbound one o one at key for stop and go traffic for you there from 6.80 leading up to mckee back to you. it's 6.49 the trump administration proposed a new covid relief deal this week at 916 billion dollar package that includes a one-time payment of $600 to most americans. it does not include an extra $300. unemployment benefit the proposal is backed by senator mitch mcconnell, but some democrats say they won't budge of a deal does not include a bonus unemployment benefit. there is hope for a deal to be reached by christmas. >>for your money now may be the ideal time to rent in san francisco as prices have plummeted as we head further into the pandemic in just the last month there's been a significant difference. many people are actually renegotiating the rent as a result we have kron four's ella sogomonian breaking down the latest report from zillow. >>at the start of the year san francisco topped the list for highest average rent in the nation at $3500. now as we wave goodbye to 2020 zillow analysts report a significant dip, people packed up and left during the pandemic and

mike mckee come over to you. michael: you gave us most of the details there that matter, especially that employment number. that has been concerning people in the markets. we have seen a slowdown in the economy reflected in the top-down numbers, although manufacturing has been the source of strength in most economies around the world since the depth of the covid recession started. but the idea that we are seeing weakness in the labor markets is concerning. it is something jay powell is going to talk about in his testimony. there are still people being left behind in the labor markets, and we can't take anything for granted at this point. a drop like this down into contraction is going to make some people perhaps take another look at their forecasts for friday. another thing we want to look at is the new export orders. that one goes up, 57.8 from 55.7, which is interesting because of the rest of the world is still seeing slowing in their economies as well, but we are seeing more interest in buying american stuff.

. >> thank you for the last question, we'll go to michael mckee. >> $4.1 trillion deficit, republicans argue they don't want to spend more because we can't afford it. i'm wondering if you can make the case for how much we can afford at what point do deficits and the debt start to have an impact on the economy or on interest rates, and how would we know when we get there? >> so, people who run for elected office and win, they're the ones that the reward is they get to make those very difficult decisions. so we're not charged with providing fiscal advice to congress, but i would just say as a general rule, it is important to be on a sustainable fiscal path, from my way of thinking and many others, the time to focus on that is when the economy is strong and when unemployment is low and taxes are pouring in, and there's room to get on a sustainable path because the economy is really doing well you'restill now in the -- some part of an economic crisis and the fact that congress is debating a fairly large bill today suggests that, you know, something fairly substantial is going to get done.

next we will go to chris mckee with krqe. go right ahead. reporter: thank you very much. i had two questions. one, under this new red, yellow, green system, los alamos county as we have mentioned being the only one listed at the yellow level, at least as of today, and i know this starts wednesday, one of the big differences there notably is the change to indoor dining. red and yellow. red allowing no indoor dining. yellow allowing 25% capacity, if i read correctly. do you have any concern there will be people traveling between counties with different restrictions? is there any type of enforcement on that kind of mechanism? what is supposed to happen here? one other question, at risk of sounding like a broken record, national publications like new york times and politico have continued to identify you as among the top contenders for a possible position with the hhs under president-elect biden administration. have you had any discussion with the biden team about this type of position, and would you be willing to accept a role like this under the current circumstances when y

he is accused of shooting the officer three times with a hidden gun he had outside the mckees port policetation while in custody. the 32-year-old officer is thankfully in stable condition. on to extreme weather. the east coast is bracing for a storm christmas eve. now, that storm has potential to cause numerous hazards as it follows last week's nor'easter that killed seven and dropped 4. nearly 60 million people from charlotte to new york could be slammed by strong winds and freezing temperatures. vice president elect kamala harris is expected to campaign in georgia today for the democratic senate candidates in the runoff elections. it comes after nikki haley made a stop in the peach state, campaigning with republican candidate kelly loeffler. >> the democratic party is not your grandparents' democratic party. they believe you defund the police and stop taking care of those that serve us. they believe that socialism is the new way of life. >> president trump heads to georgia next month for a last-minute rally for loeffler and david perdue. we will hear more from nikki haley when she joins