now we turn to michael mckee in sarasota, florida. we got retail sales numbers and consumer confidence. they are mainly positive but some mixed results. michael: definitely mixed results. years ago alan greenspan was asked about this and he said we watch what consumers do and not what they say. if that is still the case, there is reason for concern. the retail sales numbers for january were a disappointment. the headline number up .3%, but the december now more -- but the december number was revised down by point 2/10. by .2%. that number goes directly into gdp and that was a real disappointment. theanged on the month and december number revised down from a .5% gain to a .2% gain. consumers may still be buying, but their enthusiasm will seem to have flagged, except for the fact that we have the university of michigan consumer sentiment numbers, a new high. now people are telling the university of michigan survey they still feel good about the economy and its prospects. which will win out? that will be the question going forward. at th

thank you to michael mckee. u.s.ouse speaker nancy pelosi was at the munich security can't it's today in germany. there, she backed president trump's assessment of the threat posed by countries using huawei equipment to build five g networks. so where do other countries stand on this and other big questions facing the community?al we are pleased to be joined by the canadian defense minister from that conference. thank you for joining us today. we know that the u.s. and britain are at once on this huawei question. huawei's involvement in next jen technology for their countries, and they are very strongly on opposing sides of the question. where does canada stand? harjit: first of all, when it comes to our cyber protection inside canada, it is something we do with extremely seriously and because of our decisions in the past put us in a very good position. infrastructure has allowed us to have a robust cyber defense architecture. now we are going through the analysis, so we can look at all of the various threats that ar

thanks to michael mckee from new york. now we go to sophie kamaruddin in hong kong about the spread of the coronavirus. give us an update. is the growth leveling off? sophie: based on the numbers we are seeing from the province, that would seem to be the case with the number of reported cases declining. there is some doubt being cast over the transparency of chinese data and in a commentary published in the last medical journal, we have a piece indicating preliminary genetic data was made available two weeks before the public release. while we have the world watching as to what china may do, we have the u.s. senate looking to have a briefing wednesday morning eastern time with representatives from the fda among the federal agencies to be esent in the house energy and commerce committee will be holding a hearing with the u.s. health secretary at the end of this month. whether or not the cases are glowing more slowly than before, the cases continue to go through. what is being canceled over there at this point? sophie: the c

bloombergs michael mckee and peter coy with great analysis. guy: let's talk about how equity markets have been performing. a very positive session that has been developing throughout the day. this is the intraday for the stoxx 600. we've been pushing up to fresh record highs on both sides of the atlantic. the dax has been a major beneficiary. that is a factor that needs to be borne in mind, particularly when you look at the downside risk that emanates from the coronavirus. a sea of green across europe. there is the euro now trading with a 1.08 handle. more and more weakness coming through with the data, the policy, and the coronavirus. those factors compounding and pushing the your lower. the funding currency story needs to be factored into what we are getting. breaking down the key levels. the ftse 100 up .5%. the dax continues to charge ahead. a series of solid days and hitting franchise. .70%.c 40 is up talking about the risk the coronavirus proposes, particular to the luxury sector. individual stocks, let's show you what is going on. pre-m

joining me from washington is michael mckee. walk me through the numbers. chael: for years, this has been about how it would affect the fed and the outlook for interest rates, but with the fed on a self-imposed hold, this is probably going to be start to be seen in the context of the 2020 elections. i think what we will look at most importantly is the earnings numbers. our workers better off because the labor market is tightening? hourly workers have declined the last few months, not what you would expect. we will see if that continues or if there is a turnaround. that doesn't mean headline job growth won't still matter. the blowout adp number earlier this week suggests that there is room for an upside surprise, so we will keep an eye out for that. then the question is, is that maintained, and where does that take the on employment rate? the other thing is the annual benchmark revisions. deliberate apartment set from march 2018 to april of 2019, there were 500,000 fewer jobs created then had been reported. the 2018-20 19t job market really looks like. it won

guy: cleveland fed president loretta mester talking to michael mckee.we will look at why general motors is getting out of australia. this is bloomberg. ♪ guy: 54 minutes past the hour. time for a bloomberg business flash. a look at the biggest business stories. the u.s. retailer pier 1 imports has filed for bankruptcy protection. the chain says it is trying to sell the company. pier 1 has received a commitment of $256 billion of debt. it has already announced the closure of 450 stores. is french drain maker alsom in talks to buy a rail business. it could be a $7 billion deal. alsom a stronger rival to china's see rrc. earlier a merger was blocked for antitrust reasons. general motors plans to leave australia, new zealand, and thailand by the end of the year. -- the ceo is shrinking gm to the point where it gets almost all of its profits from two places, the americas, and china. that is your latest bloomberg business flash. u.s. markets closed today, but they will be reopening tomorrow. a little bit of a push higher, clearly what is happening in china co

mckee. mike, what can we look for? michael: for the first time, we have the numbers not just the coronavirus rumors. problem is they don't tell us much about whether economy is going now that we do have the virus, because they are from january. the number of the day is adorable goods orders, particularly capital goods orders outside of defense and aircraft, often seen as a proxy for business spending. taking a look at a chart of the numbers, the chart of the quarter. we were expecting to see capital goods orders rise now that we have the tentative phase one deal. may be kickstart a little business spending. whatever it shows may have been overtaken by the coronavirus. the most timely number, jobless claims, though in this case, it may work in the favor of workers, because we don't know what is happening with the virus, so why lay anybody off at this point? we also get as you mentioned, the revision to gdp. no change expected from the 2.1% and will rate reported for the fourth quarter. sales, one thing the fed's rate cuts over

will be speaking with michael mckee at an event in florida.eels of the fed chairs two day testimony. aheadi -- plenty of look to the nevada primary from david westin, host of the show. there is a picture of where we are at with u.s. markets. this is bloomberg. ♪ david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, from hong kong, sophie kamaruddin on the latest on the coronavirus. michael mckee from sarasota, florida, and from london, jamie rush on more week numbers out of germany. sophie, thank you for your great reporting in hong kong. give us a sense of where we are. the first thing is the count. how many people infected? sophie: the numbers did offer some inconsistencies around the data. we had china confirming the big jump we saw on thursday are a one-off, but today it did lower citing doublet, counting due to the new methods, including a diagnosis of critical systems. we s

michael mckee got the cleveland fed president's take on the numbers.e a listen. >> there is always going to be volatility in some of the numbers. if you have to look at the underlying fundamentals for the u.s. economy, they are pretty good. there is volatility in some of those numbers. all in all the fundamentals of higher income, balance sheets look good. side isnk the consumer holding out. the business side has been week. we had signs of stabilization on the manufacturing side. that's a good thing. notwithstanding today's numbers. that is kind of the way the u.s. economy has been. the consumer side is been driving things. but again that looks like it's stabilizing and expected to pick up. >> has your forecast for growth changed since you submitted in december? >> i think we now have some new risks including the coronavirus so you have to take that into account when you're thinking about growth but right now i'm thinking about risk. chinact that certainly in and perhaps in asia for the first quarter numbers will be weaker. this spill over to the u.s.

the interview of the date coming up, michael mckee will speak to philip lane of the ecb.s and will see if philip lane answers virus modeling. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. ♪ alix: safety trades reign. infections outside of china multiply. goldman says gold could hit ounce.n we speak to ecb chief economist philip lane on the virus impact. and how low can you go? lirts.s. 30 year f with record lows. welcome to "bloomberg daybreak" on this friday, february 21. tgif. as i like to say, we made it. no one wanting to take strong positions into the weekend, but the story continues to be the bond market. the 30 year yield down five basis points, under the 2% level. we are looking for a record low now on an intraday basis

david: that was michael mckee.ying with the housing area, our stock of the hours home depot, having its best day since august. the stock is up 2% after the company beat estimates. kailey leinz is here to explain how they did it. kailey: a nice upside surprise for the market given that last quarter home depot took down its guidance. today they have upside earnings of $2.28 coming in seven cents above the estimate. they also surprised on same-store sales. the street was expecting 4.7%. what home depot has to think that is the strong housing environment. low rate environment, cheaper mortgages. not only that, home prices are higher. people are more likely to invest in home improvement if they think they will get a better return on their investment. home depot benefiting. david: any benefit to coronavirus or is this relatively immune? kailey: it is relatively immune. the impact will be in the supply chain. 30% of its goods are sourced outside of the u.s., a big part of that in china so that is where that might show up.

romaine: joining us is michael mckee, bloomberg national economics and policy correspondent. what was the main takeaway yesterday? michael: the idea that the u.s. economy is in good shape because global growth is bottoming out, not so sure with news on industrial production out of europe and the opec oil numbers today. we will see if jay powell has a comment on that. he does return for a second day of testimony on policy, this time before the sena early, sayg the fed is monitoring what is happening there, but admitting the central bank doesn't know what the ultimate impact will be. what will be the effects on the of us economy? will they be persistent? will they be material? the fed just doesn't know. asked about the treasury bill buying, but he said was not qe, but an effort to make monetary policy were at a -- policy work better. the fed is just about out of ammunition, and he needs the senate and the house to do something about making fiscal policy available. the top line there is the yield curve in 2008, just before the fed began cutting rates. the bottom is the yield curv

joining us from washington is odeta kushi, and here in new york, michael mckee. wu silverman as well. do you have a wow? michael: you look at where ppi jumped to. that is a huge increase. a big increase in services inflation. went from flat in december, up white seven during the month. inde services down .3 december, up 1.2%. this is definitely going to get the fed's attention. beyond that, i cannot say a lot. it probably gets the markets attention. we are so far from the idea of a fed rate increase in any traders mind we would have to see this confirmed by a lot of other places. i brought along a chart that shows the relationship of the ppi and cpi and the pce. pce is the feds favorite indicator. you can see the big jump in the blue line. now we see the ppi confirming. the pce runs below that. we will see if we get an increase in the month, then maybe it starts to creep into the fed conversation. barry: and the mark -- alix: in the market you are looking for selling in the front end of the curve. we are still going through the numbers, but what is your take away?

michael couldn't -- michael mckee is with us.uld you expect -- canada has a decision coming up as well -- when would you expect the central bank to move to get in front of a crisis we cannot measure yet? >> that's the problem. there doesn't seem to be a premium from central banks to move quickly because they don't know if this is a problem that they can address or that they can have any effect on and how long it will last. if you were to cut rates immediately, the next bank of canada or federal reserve meeting, and this ended one month later, you've got rates lower than you want them to be at this setting you might want to take them back. you've got an election year and the uso is difficult. until something shows up in the data, they would like to stay on hold. >> no wonder we saw the bank of korea surprising last night in not cutting and they have the most infections outside of china. what are we seeing in terms of central banks around the world? is that the mentality going around? question of what problem you're trying to solve

we are joined by michael mckee from washington on that jay powell speech. l: it is always something. the fed hoped to go on hold and remain noncontroversial this year, but you have the coronavirus and everyone wants to know, what does the fed think of the economic outlook given the disease? china, sap demand from lower growth worldwide, and affect the united states? jay powell does not have any answers. it is too early and it is hard to model because we do not know how long it will last or how far it will spread. the fed is on guard but he will not make any commitments to a rate cut. that is what wall street would like him to do, but that will not happen today. this is an election year so you will get questions about the general,the outlook in depending on whose party is asking the questions. francine: if the coronavirus stays as it is, when do we first see it in the data? what is the first data point that will look into this period? michael: it will probably show up in the pmi numbers in europe and the united states towards the end of february. you will see

we will be speaking to the cleveland fed president loretta mester, brought michael mckee.ed drumming ] [ fast-paced drumming ] ♪ alix: consumer dilemma. spending holds up while retail stocks hit a new cycle low with u.s. retail sales on deck. the currency sinking while german growth stagnates, and china stimulus, the good and the bad. the market expects more -- [applause] -- [no audio] alix: -- markets here. you can expect we will not see a huge amount of positions being taken on into the weekend. typically you have seen a lot of taking on in treasuries, a lot of selling in stocks. euro-dollar continuing a slow grind lower after the last nine days, and a bid at the back end of the treasury market. commodities getting a bit of a respite, which is odd because we could h

for more on fed chair jay powell's remarks, we want to get to michael mckee. short, just four pages. very little new. just one mention of the latest threat from china. jay powell saying "the fed is closely monitoring the emergence of the coronavirus which could lead to disruptions in china that spill over to the rest of the global economy." that is it. beyond that, the u.s. economy appears to be in good shape, and in his words resilient to the global headwinds that intensified last summer. job openings remain plentiful as employers are increasingly willing to hire workers with fewer skills. consumer spending has moderated but the fundamental support in spending remain strong. housing has turned up at inflation is likely to keep rising toward the fed to percent target as low readings in 2019 start to fall out of the calculations. the only real problems have been with and remain business investment and global growth. of theports, some uncertainties around trade have diminished, but risks remain. under current conditions, monetary policy remains appropriate, and

bloombergs michael mckee and art hogan of national securities.g opinion will be sticking with me. check out the article over the weekend -- it had bedbugs in the title. you have to read it. viviana hurtado is here with first word news. viviana: a grim milestone for the coronavirus. the global death toll then at least 910, more people than died during the sars epidemic. china says the number of condoned -- the of confirmed cases is more than 61,000. in all, 130 cases of coronavirus have been discovered on the cruise ship. andwashington, d.c. president donald trump's new budget. it would spend billions more on defense and cut social programs and at $1 trillion to the debt today the spending plan is unveiled. the budget is more of a political document because congress has to appropriate the money and lawmakers are not likely to finish work on the budget until after the election. a historic night at the oscars. the south korean comedy parasite becoming the first foreign-language movie to win the academy award for best picture. you could say parasite

michael mckee, bloomberg international economics and policy correspondent looks at those numbers throughnts. give me your details. michael: pretty clear from the state of the union the president will run the state of the economy, which he called historically good. it is not historically good, but it is solid. let's take a look the numbers behind the numbers. take a look at gdp and unemployment, numbers the president is touting, for good reason. you can see the unemployment rate at 3.5% and the gdp at 2.1% is pretty good. youou go back in history, can see harry truman and dwight eisenhower had lower unemployment and much higher growth. unfair. we are coming off of world war ii. let's look at lyndon johnson. that might not be as fair comparison, either. the best comparison is the 1990 to 1999 era, bill clinton, faster growth and lower unemployment. that would be what you would like to shoot for if you could get there. the president does have mixed numbers, good but mixed, in terms of things he can run on. he talked about people coming back to work and you can see the primate participation

ecb board member spoke with bloomberg's michael mckee. >> we have an economy that is growing because,enges, overall domestic demand has been significant and continues to be. we have a scenario where the economy is going to grow this something, which is modest but not where we see an accelerating problem. the fact that services continued to grow gives a lot of reassurance we have an economy , we seegrowing continued wage growth, we see continued signs that our of a gradual improvement remain something we can rely on. weeks away from publishing new quarterly projections. any changes? of there in the middle forecast exercise per let me the data we are forecasting is indeed due to the virus. but in the base case, where it is concentrated in the first noth of 2020, this is particularly an indication for the key or medium-term element of our forecast. pmi's this that morning and other indicators are coming in broadly in line with most ofhave expected, what we see is in line with how we saw the world in the last forecast in december. ♪ ♪ watchingyou are "bloomberg best." i'm abigail doolittl

an ecb board member spoke with bloomberg's michael mckee. >> we have an economy that is growing becausethe manufacturing sector as faced challenges, overall domestic demand has been significant and it continues to be. we have a scenario where the economy is going to grow 1.something, which is modest but not where we see an accelerating problem. the fact that services continued to grow gives a lot of reassurance we have an economy that is growing. seeou like optimism, we do continued wage growth. we see continued signs that our forecasts of a gradual improvement of inflation remains something we can rely on. >> you are three weeks away from publishing new quarterly projections. do these developments suggest we are going to see any changes? >> we are in the middle of the forecast exercise. let me emphasize, the data we are forecasting is indeed due to the virus. but in the base case, where it is concentrated in the first months of 2020, this is not particularly an indication for the key or medium-term element of our forecast. so the fact that pmi's this morning and other indicators are co

philip lane was on the other morning with michael mckee, saying they are not anticipating it to go much beyond q1. presidents including jim bullard also downplay the importance of the coronavirus. do you believe the fed is hoping it won't have to make a move, and will that pan out? lori: the fed has said repeatedly they think that policy rates are just where they should be given where we are in the cycle. they are slightly accommodative. we hold them to their word, and we don't think there's any pressure for them to act. but they also keep referencing they are keeping an eye on global developments, including coronavirus. i think the good thing, and this is obviously a small silver lining, is that there's no impairment issues here. once people can go back to work in china and once there is mobility in the supply chain again, it is not like the tsunami we had in japan a couple of years ago, where you had physical infrastructure impaired, and it took a little while for that to come back online. the good news is we believe there is still just deferral of the activity and not actually impair

michael mckee in new york on the pressure for emergency fed rate cuts, and we go to is temple on thea that left 33 turkish soldiers dead. we wake up every morning and wonder where are we on the growth. let's start with china. is it leveling off in china? that is what seems to be happening. you are seeing aggressive containment efforts, growing experience in dealing with the virus starting to have an effect. over the last week you've seen the great of growth and the number of new cases degrees. the opposite is true outside of china, which is the thing i think markets have grown concerned with. we mosthat are

michael mckee in new york on the pressure for emergency fed rate cuts, and we go to is temple on the airstrike in syria that left 33 turkish soldiers dead. we wake up every morning and wonder where are we on the growth. let's start with china. is it leveling off in china? that is what seems to be happening. you are seeing aggressive containment efforts, growing experience in dealing with the virus starting to have an effect. over the last week you've seen the great of growth and the number of new cases degrees. the opposite is true outside of china, which is the thing i think markets have grown concerned with. we mosthat are concerned about? we had northern italy and south korea, but now we had sub-saharan africa. anotherhad nigeria, and area of great concern is iran. these are countries that do not have the same kind of public health infrastructure, the some kind of control over their border. if you start to see transmission and those areas, those will be the ones that cause spread to other countries and a greater rate than we are already seeing q8 david: -- you are seeing already.

we are joined by michael mckee, bloomberg economic policy correspondent. we know what the fed chair is going to say. what will be the main question he will be try to field? first and think the main question is going to be about the coronavirus. only one brief line about it in his prepared testimony. the fed is keeping an eye on it because it could create problems for china and the global economy. we just don't know if it will, and if so, we don't know how much of a problem and how quickly it would spread to the united states. look for them to try to get more out of him on that. not clear that the fed chairman will have any better answers because this is still relatively early stages. in the past, viruses have not had a long-term impact, but we just don't know with this one. that would be the sort of neutral comment. after that, look for them to get into the political aspects of an election year. ofwill see what kind unemployment rate. democrats will talk about the big budget deficits. we will see how well jay powell dodges both sides' efforts to get him to

joining me from sarasota, florida is michael mckee, who is there for a big interview. michael: the retail sales numbers are going to be of interest to the fed and to economists because consumers seem to slow down at the end of 2019. january is the month when everybody redeemed their gift cards that they got from the holidays, so we will see of spending held up. forecasts came in stronger, but a little weaker than it was in december. look for the retail control group, expected to be up 0.3%. we also have industrial production numbers, the manufacturing sector in a slump. we will see if they pull out of that. though, for the fed to see any reaction to the coronavirus from these numbers. aboute will be talking today with cleveland fed president read a master -- president loretta mester, this is when we are supposed to see some good news in the economy when tensions fall off with china come of it may be too early for that with the coronavirus. a lot to talk about with her. alix: looking forward to that. stay with us for mike's interview with loretta mester, coming up at abo

joining me is michael mckee. what do we expect today to tie it all into jay powell's yesterday?rom michael: those to go before the senate banking committee for their confirmation hearings. christopher waller should sail through. he's a longtime fed insider. the view thatlop the u.s. is stuck in a regime of low growth, low inflation, and low interest rates. controversial at the time, but since vindicated. matter.lton, another she was a campaign advisor to donald trump, raising questions about fed independence. she's also raised questions about whether the fed should set interest rates and be in charge of the value of the currency, and questions about whether the fed dual mandate of maximum employment and stable prices is even relevant, and she is arguing that the u.s. is going -- that the u.s. should be going back to the gold standard. it would only take one republican in opposition and she would not make it through the committee. we will see how she does. speaking of stable prices, jay powell was talking about that is out thispi morning, the consumer price index in the united st

joining us now is michael mckee, bloomberg's international economics and policy correspondent. the plain, ecb economist and management board. michael: thank you for joining us this morning. let's talk about the issue all investors are talking about, and that is the coronavirus. you said that europe could take a severe short-term hit, but can you be any more specific about what you see happening? philip: like everyone else, i think the base case is v-shaped. number one, let's see how quickly the spread of the virus is contained. the sooner that happens, the more confident that this will be something that is mostly in quarter one, maybe spilling over into quarter two. but our main focus is on year-end, going into next year in the hereafter. for us as monetary policymakers, if this is indeed contained, even if there is a hit in terms 2020, ifitial weeks of the recovery happens as we expect in the medium-term policy challenge remains something that is not going to change our base case. but is definitely a downside risk until we see the containment, until we see the recovery after th

here with more is bloomberg's michael mckee ahead of evo data today. at -- ahead of you for data -- ahead of ifo data today. 100 basis points of cuts. investors are basically pricing and mass panic among the public, people just stopping spending entirely, and a turn towards major interruption in supply chains that will shut business. the problem is, so far, that is based on nothing but declining stock prices and bond yields. there are no data that suggest the economy is heading in that direction yet. youight get some, as mentioned today. the chicago purchasing index encompasses the month of february, and it may have some indication people are getting worried because it is heavily involved in the auto industry. there are reports supply chains there are rather stretched. university of michigan consumer sentiment survey only closed on wednesday, so that might reflect a little bit of the virus concerns and the stock market falls. but will all of this translate into reduced spending? we get spending numbers today for the month of january. that will be good

joining me for the hour is michael mckee, bloomberg international economics and policy correspondent. a lot of money on what adp suggests, but perhaps the only thing -- and i know equity trader, so don't take my advice -- but perhaps the only thing you can say is underpinning the markets, the u.s. economy still seems to remain solid. alix: fair enough. you're a little pessimistic sometimes. michael: i don't see the cracks coming yet, but things are awfully good right now, and that is scary. alix: totally right. too good to be true. the equity rally continuing this morning. the s&p following its best three days since june. joining us in new york is gene tannuzzo, columbia threadneedle deputy level had a fixed income, and from milwaukee, michael antonelli, baird market strategist. you buy into this rally? michael a: thank you. i spent the better part of the past week or two weeks trying to separate signal from noise, and that is really crucial right now. you asked whether i would still buy the equity rally. i say yes. when a look at the exit rally in the u.s., what has changed in the pa

global economy, the cleveland fed president says she will stick that-- we will have interview that michael mckeetta mester on friday. that is coming up next, and this is bloomberg. ♪ francine: this is "bloomberg surveillance." i'm francine lacqua in london. tom keene's offer president's day. wednesday sees the release of minutes from the fed's january meeting. holdymakers agree to rates. interviewed linda master -- interviewed loretta mester. loretta: we have had stabilization on the manufacturing side. that is a good thing, notwithstanding today's numbers. the consumer side has been driving things. this is the side for a number of reasons that has been weaker. that looks like it is stabilizing, too, and i expect it to pick up later in the year. francine: still with us to talk about the economy is jordan rochester. jordan, what is the possibility of inflation being bigger than expected in the u.s.? jordan: the long-term story is about low inflation for longer. i'm not worried about inflation shocking the u.s. francine: what is the biggest concern for the u.s.? jordan: the americans are on fire.

michael buchanan. a 52—year—old man from northern ireland has been charged with the murder of lyra mckee.us the latest from derry. well, lyra mckee‘s death was felt very deeply here in derry. she was a writer, a gay rights activist and described as a rising star in northern ireland. she was shot by terrorists, police say, during in the city‘s ragan estate last year. after that, the group known as the new ira claimed it was behind the shooting. a52—year—old man from derry have now been charged with murder and possession of a firearm and membership of a prescribed organisation. he will appear in a magistrates court tomorrow. the violence that led to their key‘s death was widely condemned, something many people hope was consigned to the history book in northern ireland. both british and irish ministers attended the funeral. police say this is a significant step but they believe a number of people were involved in the event last —— that night and that the search for justice continues. senior ministers are bracing themselves for boris johnson‘s first major cabinet reshuffle since the conservat

michael buchanan, thank you. a 52—year—old man in northern ireland has been charged with murder and possession of a firearm in relation to the death of lyra mckeed journalist was shot during rioting in londonderry in april last year. our ireland correspondent emma vardy is in belfast for us. emma, what more do we know? welcome lyra mckee's death had a major impact here. she was described asa major impact here. she was described as a rising star in northern ireland and she was shot by terrorists, say police, during rioting last year in londonderry. now a 52—year—old man from derry, who was arrested on tuesday, has been charged with murder with possession of a firearm with intent to endanger life and with intent to endanger life and with professing membership of a proscribed organisation. you will appear at londonderry magistrates' court tomorrow. there was widespread condemnation of the violence after lyra mckee's death, both the british and irish prime ministers attended herfuneral. and irish prime ministers attended her funeral. these charges will be seen as a her funeral. these charges will be seen as a significant step but police in northern

mckee is coming to us from washington. were there any surprises? michael: no surprises. these has become integral market because after every fed meeting, every member of the fed speaks quite often. we have a good idea of what they are thinking at any given time. this was more of a chance for the fed chair to speak of the coronavirus for the first time and he did suggest that yes, the fed anticipates there will be an impact in china but how much of that spills over to the united states and the global economy, it is still too early to tell. the fed will continue to monitor. you could not expected to say a whole on was a mat. there were questions on the repo issue but nothing too difficult for him to answer. that a lot of questions about what congress and the fed could do in terms of the next recession. a lot of questions you will talk to people about in new hampshire , to the political sphere. >> jay powell was sending messages to president shumpert the same time he was sending messages right back to jay powell. of theas not a secret fact that he think the government shoul

michael buchanan, bbc news, kent. scuffles broke out outside a courthouse in londonderry, as a man appeared inside charged with the murder of journalist lyra mckeemckee was shot dead during riots in the city last april. our ireland correspondent, emma vardy, reports. lyra mckee's death has led to heightened tensions in derry. members of the group police say are the political voice of the new ira clashed with officers outside court. paul mcintyre, a 52—year—old man from the city, has been charged with murder, possession of a firearm and membership of the ira. it gets better for those of us who live long enough to see it get better. lyra mckee, a writer and gay rights activist, stood next to a police land rover during rioting in the city in april last year. a gunman was seen on mobile phone footage, stepping out and firing towards police. the dissident republican group, known as the new ira, later claimed it was behind the shooting. the violence was widely condemned, bringing back memories of northern ireland's troubled past. today, the vast majority of those who live in derry do not support dissident republican groups. paul mcintyre, a man well—k