. >> joining us now is mark zandy, the chief economist with moody emphasis analytics here to talk about and take your questions on the economy. mr. zandy, what is the state of our economy right now? >> greta, it's struggling. we saw that in the december data for the economy. we lost jobs in december. retail sales declined. claims for unemployment insurance remain consistently above about a million per week. just for context in a well functioning economy we should be seeing something like 200 and 250,000 initial claims for unemployment insurance. sentiment is very soft. and obviously it's not hard to connect the straugling economy back to the pandemic. the reintensification of the virus, the hospitalizations, the deaths has had an impact on the entire global economy but also here at home in the united states so the economy is weak. >> what if congress and president trump had not signed into law the covid relief money that we saw the first round of it and the money that followed? what if that hadn't happened? >> it would have been much worse. the support from the federal government has be

kate moody with all the business, thank you. the maldives open again for business.se who can afford it are flocking therefore fun in the sun in what many consider to be a paradise on earth. the first thing required to get in now is a negative covid-19 test. >> it's difficult to find a dream year landscape, with its splendid isolation and taking the beautiful coral reef, the maldives are a real-life picture postcard. coronavirus has kept visitors away for months. but now they are returning. in the capital, the previously grounded seaplanes are taking off again. they take tourists to the hundreds of island rests that ma up the archipelago, with a flight every 10 minutes. companies are well on their way to recovery. >> we already have almost 500 passengers on average. previously it used to be 800 that got on. that's a gradual part of the recovery. >> this french couple have come from north-central france. the entrepreneur and glasses designer spontaneously booked the trip two weeks ago. >> we just needed a real break that would be safe and this is the ideal place for t

joining us now is mark sandy, chief he cut -- mark zandi, chief economist with moody's economics. what is the state of our economy right now? guest: greta, it is struggling. we saw that in the december data for the economy. we lost jobs in december. retail sales declined. claims for unemployment insurance remain consistently above about a million per week. just for context, and a well-functioning economy, we should be seeing something like 200,000, two hundred 50,000 claims. sentiment is very soft. obviously it is not hard to connect the struggling economy back to the pandemic. the re-intensification of the virus, the infections, the hospitalizations, the deaths have had an impact on the entire global economy, but also here at home, the economy is weak. host: what if congress and president trump had not signed into law the covid relief money that we saw, the first round of it and the money that followed? what if that hadn't happened? guest: it would be much worse. the support from the federal government has been massive, and it has been critical to keeping the economy together as

what is driving the rationale at moody's?wo words for moody's and it is fiscal strength. the fiscal strength of gcc countries is expected to keep deteriorating and that will constrain their spending. we know a lot of the countries here have cut their expenditures, for example in oman, they are planning to cut expenditure about 14% against last year. that will slow their economic recovery. inflation, adjusted gdp to go to pre-pandemic levels into-three years and the recovery will be protracted in the diversified sovereigns. we expect the gcc sovereigns will increase their prudence. in 2020 they borrowed at the highest level ever and that momentum will continue over 2021. the expenditure is going to be, is going to remain above pre-pandemic levels only in kuwait and bahrain, but the fiscal deficit for the countries is going to be at an average of 6% of gdp. that is lower than last year's double-digit deficits that we saw floating around all-time highs for the countries. that.: thanks for a lot more to come. this is bloomberg. ♪

bodie analytics say that this package -- moody analytics say that this rescue package put forth will take us to full employment by 2021. one full year earlier than it would occur without it. 2021 versus 2022. one full year earlier. in just five days, joe biden and kamala harris will be sworn in as president and vice president of the united states. following the attack last week on the capital complex, there have been unprecedented mobilization of security in the capital. i want to express gratitude to capitol police, to the national guard who are present here to protect our democracy. they have shown great courage. i am very proud of them and i was honored to be able to extend gratitude on behalf of the congress. we must subject this to scrutiny in light of what happened and in light of the fact that the inauguration is coming very i have asked retired lieutenant general to lead an immediate review of security infrastructure, interagency processes and command and control. the general is a respected leader with experience dealing with his focus with military support to civilian author

moody analytics says this morning, they say, this package, the rescue and recovery package put forth by joe biden last night, this package will take us to full employment, by 2021. one full year earlier than it would occur without it. 2021 versus 2022, one full year earlier. in just five days, joe biden and kamala harris will be sworn in as president and vice president of the united states. following the attack last week on the capitol complex, there has been unprecedented mobilization of security in the capital i want to express gratitude to our capitol police, to the national guard, for presence here, to protect our democracy. they have shown great courage. i am very proud of them. i was honored to be able to extend gratitude to them in person on behalf of the congress. we must subject this whole complex to scrutiny in light of what happened, and the fact that the inauguration is coming. to that end, i have asked retired lieutenant general russell honore, too late and immediate review of security infrastructure, -- to lead an immediate review of security infrastructure, coordinatio

moody's says the economy will increase and bring the u.s. back to full employment by the end of next year. biden's rescue package includes investments needed like bigger stimulus checks, rental assistance, additional money really important for small business. the question now, will the plan pass in full? even with democratic control in the white house and congress, moody's predicts a package only half the proposed size is possible. more aid is needed and now. the biden administration inherits a main street suffering an economic and jobs crisis. 140,000 jobs lost in december. the first net job loss since april. the economy is still down 9.8 million jobs since february. >> all those jobs and all women. >> yes. >>> still ahead, we're getting a disturbing new look at what it was like inside the siege at the capitol as the insurrectionists went door to door looking for lawmakers. we'll show you this next. wil plus hyaluronic acid and vitamin c. it visibly reduces wrinkles. firms. and brightens. now that's triple power. revitalift triple power moi

moody's, an independent wall street firm, said my approach will create more than 18 million good paying jobs. our rescue and recovery plan is a path forward with both seriousness of purpose and a clear plan with transparency and accountability with a call for unity that is equally necessary. unity is not some pie in the sky dream. it's a practical step to getting the things we have to get done as a country get done together. as i said in december, the bipartisan covid-19 relief package was a very important first step. i'm grateful for the democrats and republicans and independent members of congress who came together to get it done. i said at the time, it's just a down payment. we need more action. more bipartisanship. we need to move quickly. we need to move fast. our rescue plan starts aggressively in order to speed up our national covid-19 response. the vaccines offer so much hope, and we're grateful to the scientists and researchers and everyone who participated in the clinical trials. we're also grateful for the rigorous review and testing that has led to millions of people around

joining me now is my panel, danielle moody, host of the podcast woke af and cohost of democracy-ish,tant and contributor to "the boston globe." i'm start with the obvious. there were hundreds of peaceful protests across the country against police brutality over the last year. including thousands who marched in the washington with us at the commitment march in august. none of those protesters stormed the capitol or started an insurrection or participated in violence of any sort. why is dhs lumping this cause with the violent extremist? is this a form of disinformation? >> reverend, i'm not sure what it is, but to the point you're alluding to here, you had millions of african-americans for the past several years now peacefully protesting police brutality, and the remarks you just read in your opening statement, a part of one of the issues stated was that they were upset because of police use of force. i find that to be rather peculiar. i live in north virginia. when you look at the way black lives matter protesters and i'm not talking about the small faction of people who destroyed thi

an analysis by moody's estimates that if we pass our american rescue plan, the economy would create 7.5 million jobs just in this year alone. that would be on the way to the more than i think 18,600,000 jobs that they believe would be created over the four-year period with our bill back better plan. with our american rescue plan, our economy would return to full employment a full year faster than without the plan. even president trump --not some liberal organization -- president trump's top former economic adviser, kevin hassett, said "he is absolutely in favor of this rescue plan." this almost doesn't have a partisan piece to it. we are seeing the support because this plan takes a step that we so urgently need, more than just a step, a step, number of steps. it funds big part of the covid-19 national strategy that we released yesterday. our national strategy puts us on a war footing to aggressively speed up our covid-19 response, especially on vaccines and testing and reopening our schools. i found it fascinating, yesterday, the press asked a question, is 100 million enough? before the

james: now joining us is kate moody. tell us about what the imf said about the state of the economy and covid vaccines. kate: the vaccine could get the economy back on track even as the number of cases continues to rise. global gdp is expected to grow 5.5% this year rather than the 5.2 percent forecast in october. the u.s. economy is expected to expand faster because of the latest round of stimulus. but forecasts for economic growth in the eurozone have been scaled back slightly, although the uk's outlook has been significantly downgraded from 5.9% to 4.5%. the virus and its new variants still pose a huge risk to economic activity. emerging economies in particular are lagging behind. i spoke to the deputy director of the imf strategy policy and review department. -- strategy, policy, and review department about whether the current pace of the vaccine is enough -- vaccine distribution is enough. >> in emerging markets, some emerging and developing countries will have the vaccine this year and some in 2022. but there are r

moody's suggests the entire plan could create 18 million jobs.f they could get those net 10, 15 million jobs, that would be great and obviously promote even tighter labor markets than we had before this pandemic. spending now and sort of the framework they have outlined is a great way to grow and focus on tighter labor markets. caroline: in terms of the paying for the buck, the unemployment insurance, do you agree that it is the extension of food stamps that should come swiftly after getting the vaccine in people's arms? >> i think those are both very important. focusing on school reopening safely, on small business aid. i would also say that direct cash relief is a great way to reinvigorate the economy. we know that worked in the last round. the $600 checks when out, we don't have data on them yet. we know that $1400 top off would stimulate consumer spending one in five renters are behind on their rent or mortgages, so getting money back into those markets is really important. that direct cash relief is a real bang for your buck as well. joe: go

in fact, an analysis by moody's estimates that it— an analysis by moody's estimates that if we — an analysisonjobsjust in this plan the economy would create 7.5 million jobs just in this year alone _ million jobs just in this year alone. that would be on the way to more _ alone. that would be on the way to more than — alone. that would be on the way to more than 18,000,000, i think was 18,600,000 jobs that would be created — 18,600,000 jobs that would be created over the 84. with our build back better — created over the 84. with our build back better recovery plan. and with our american rescue plan our economy would _ our american rescue plan our economy would return _ our american rescue plan our economy would return to full employment, a full year _ would return to full employment, a full year faster than without the plan _ full year faster than without the plan. even president trump's now, not some — plan. even president trump's now, not some liberal organisation, president _ not some liberal organisation, president trump's top former economic— president trump's top former economic advise

i dare say moody's is not an impartial observer.benefit. they're not just an impartial bystander. having said that, wall street likes stimulus there will be a lot of stimulus and they feel that will be good for the economy and lift all boats. do you buy that? >> yeah, again, when you look at the actual breakdown, highlighting and putting things into buckets, you know, the biden stimulus plan that he's laid out, it's basically the good, the not so good and the really ugly. when you look at the good and things that we can support, the expansion of the earned income tax credit. it's not as though it doesn't have any fraud in it but a good program. we like that idea of expanding it. we want to call it the working american's credit. the child tax credit expansion and more money for vaccination programs. we're going to start off a program as you know, neil, we support small businesses. what we're saying is, give them a shot in the arm by you getting one yourself. we need more people vaccinated. so supporting that for sure. the $1,600 dire

we are joined by kate moody. with less than a week left, what is new for the admin is to ration?-- this program could top 1.5 trillion dollars pair with the package is expected to include another round of stimulus checks for families, possibly up to $2000 per adult. as well as funding to speed up the distribution of cova 19 vaccines across the country. they were also be money to support local governments and schools and teachers in particular. an -- the incoming president wants to boost the hourly minimum wage in the u.s., raise taxes on the wealthiest americans, and invest heavily in infrastructure. democratic majorities hope the agenda will likely make it through congress. the number of americans seeking an up limit benefits rose sharply last week. the number of coronavirus cases continue to spike. the labor department recorded 965,000 new applications for aid. the highest level since mid august. it is another sign that the economic recovery is staggering, in part because of restrictions on the hospitality and restaurant sectors in many states across the country. the overall nu

i was reading the note from moody analytics.k sandy was saying it is likely they will pass something around the trillion dollars now and then the next package will make up for that for the other $.9 trillion. sort of imagining it as an economic influx this packet -- this package may be broken up into parts, going through somehow. joe: coming up, the top challenge keeping global ceos up at night, covid-19. we discuss the conference board's later -- latest ceeo survey. -- latest ceo survey. coming up. this is bloomberg. ♪ caroline: today we are focused on corporate risk in the new year. according to a new survey by edelman, ceos are becoming increasingly trusted. joe: ceo's? romaine: what do you make of that, while times? joe: wild times. during this crisis we have seen big business operate in an impressive and competent manner and many would say they do not feel the same way from government and elected officials. to talk more about businesses and what is on the minds of businesses, let's bring in dana peterson, chief economist at

it is time for business news with kate moody. good evening, kate.ou are starting with news of job cuts in the pharmaceutical industry. >> with all eyes on it as it tries to develop a covid-19 vaccine as its rivals are doing, the french pharmaceutical giant is pushing ahead with plans to cut someone thousand 700 jobs across europe as it announced in june. unions said on monday that would inude 400 employees in its research and development division in france. employees are worried about the broader implications as julia explains. >> outside this site in the paris region, workers are not happy about the news. >> [speaking foreign language] >> [speaking foreign language] >> the voluntary redundancy plan would ask for hundred jobs in the research and development departments even though the company is lagging behind the race to produce a vaccine. for the labor union, job cuts have consequences. >> [speaking foreign language] >> they have denied this. it's pledged to -- it is not certain the employees will see any of that money. experts say it has become m

time now for business with kate moody and we are starting with the reversal of a fine for paris city hall which has been deemed to feminist. >> yeah and very proudly so according to the mayor, but this starts back in december. paris was fined 90,000 euros for having appointed a group of managers made up of 69% women back into thousand 18. legislation on the public sector caps appointment at 60% of one gender. at the time a month ago, the mayor embraced of the violation and observers mocked it as ridiculous. today the public service minister announced to the find was being revoked, they say the money will go to a hotline which supports victims of domestic violence and that she would not stop fighting for more female representation at the top of politics and business. >> without unwillingness and -- unwillingness to give in and determination, we will not break the guy ceiling -- glass ceiling. >> that about-face comes as france marks the 10 year anniversary of a law that requires gender quotas on corporate boards. the log requires publicly traded companies or those with more than 250 e

brian: i would point to one example of an inanalysis that was done of the american rescue plan by moody's. they found was that if we pass the american rescue plan now we could see 7.5 million jobs created just this year and we could see a return to full employment a full year ahead of what is projected if we don't. so those are the stakes involved . and without this kind of decisive action, we are going to have a much deeper economic hole. that is why we are so focused on making case for a decisive action now. >> brian, i want to follow up a bit. the president talking about seeking unity on this bill but being clear eyed when there are policy differences. so after this call the , bipartisan coalition you need, if you expect to know what the white house will pursue legislation legislation, a bipartisan legislation or sort of head toward legislation through reconciliation? and i'm wondering if you can talk about what sort of red lines will be the point at which you say, ok if you are not , willing to negotiate about this in the bill we are going to start working with democrats as favorable

. >> time for business now with kate moody.e are starting with a closer look at the aftermath of wednesday's violence at the u.s. capitol and the reaction of social media. facebook has banned donald trump indefinitely while twitter temporarily froze his account. >> that 12 hour block of his twitter account has end though the outgoing president has yet to tweet since he regained control of his accounts. facebook has said it will extend its 24 hour ban of the outgoing president indefinitely. mark zuckerberg writing that donald trump used that platform to condone rather than condemn the violent actions of his supporters and that he was trying to undermine the transition of thbiden administration. mark zuckerberg writing, we believe the risks of allowing the president to continue using our service are too great, we are therefore extending the block of his accounts. facebook and twitter are among those that have in the past defended their decision to allow the president to continue posting on their platforms even though he was viola

it is time now for business with kate moody. good evening. the eu continues its row with astrazeneca over its order of vaccines, you have taken a look at our government's placeholder on those doses. kate: they had been working on this for several months, it cost hundreds and hundreds of millions of euros. the u.s., u.k., japan, and brazil are among those who, like the european union, signed preorders several months ago with several different pharmaceutical giants, while they were researching the possible vaccine. brussels made a substantial down payment from the bloc's emergency support instrument. member states will be making up the difference to buy and distribute the shots to their citizens. claire rush has more. reporter: since the beginning of the pandemic, the eu has signed a deal soup -- deals to secure 2.3 billion doses of the coronavirus vaccine. through down pat -- down payments, contracts have been concluded with six companies including pfizer biontech and moderna, the only two vaccines to be approved by the eu for emergency use so

children as a last jobs report of the trump administration shows the need could not be more urgent moody analytics says this morning they say that this tag edge the rescue and recovery package put forth by joe biden last night this package will take us to full employment by 20211 full year earlier than it would have curves without it 2021 verses 202214 year early. in just 5 days joe biden and comer harris will be sworn in as president and vice president of the united states following the attack last week on the capitol complex there's been unprecedented mobilization of security in the capitol i want to express gratitude to our capitol police to the national guard who are present here to protect our democracy they have shown great courage very proud of them and i was. honored to be able to extend gratitude to them in person behalf of the congress. we must subject this this whole complex. to scrutiny and light of what happened and the fact that the inauguration is coming to that end i have asked retired lieutenant general russel honore a to lead an immediate review of security infrastructu

james: it is time for business with kate moody. rollout of covid-19 vaccines we are talking about in france, you have a new report about the cost of an equal distribution of those. kate: that phenomenon that is being called vaccine nationalism, which sees more developed richer nations get access to vaccines before developing economies do. that poses a moral, ethical quandary which many organizations are trying to address. it could come at us -- at a huge cost. it underscores the degree to which the global economy is connected and interdependent. . in the most extreme scenario, which would seek poor nations left out of the vaccine rollout in 2021, the report says the global economy would suffer losses over $9 trillion. half of that would be shouldered by the richest countries despite benefiting from the vaccine. the report highlights the funding gap of over $27 billion to ensure equal distribution, and says it would generate returns of up to 166 percent of that investment if met. the icc told me this report should give governments t

let's bring in kate moody.ate: online platforms have faced a lot of criticism unscrewed -- and scrutiny on both sides of the political spectrum for their role in spreading the messages of donald trump and his supporters. google said wednesday it would be suspending political ads for at least the next week until after joe biden's inauguration. all ads that reference last week's violence, the impeachment vote in any way or protests around the united states because they could be used, according to google, to exploit the event. earlier, youtube also suspended donald trump's account, disabling comments on his videos indefinitely. facebook and twitter both banned the outgoing president until further notice just a few days ago. all these platforms saying his false claims about the election and more importantly his statements inciting last week's violence violate their user terms, and so to them, there's no question he should not be allowed to use their platforms anymore, but it has forced a broader debate about the im

analysis by moodies estimates if we pass our american rescue plan, the economy would create 7.5 million jobs just in this year alone. that will be on the way to the more than 18 million. i think it was 18,600,000 jobs they believe would be created over the four year period with our build back better recovery plan. with american rescue plan our economy would return to full employment a full year faster than without the plan. even president trump, not some liberal organization, president trump's top former economic adviser kevin has et said he absolutely is in favor of this rescue plan. this almost doesn't have a partisan piece to it. we are seeing the support because this plan takes a step, more than just a step, a number of steps. it funds national strategy that we released yesterday. national strategy puts us on a war foot to aggressively speed up covid-19 response especially on vaccines and testing and reopening our schools. i found it fascinating yesterday that the press asked the question is 100 million enough? a week before they were saying are you crazy? you can't do 100 million i

. >> time for business with kate moody, do you approve of the mittens?e: the kind of weather, yes. james: unemployment data, more to the point in the united states, tell us about the economic challenges facing joe biden. kate: it's a really sobering number of people that were applying for unemployment benefits last week, james, really underscoring the depth of the challenges that are facing the new administration. another 900,000 people filed applications for jobless benefits last week. that's about 25,000 fewer than the previous week, but still over three times higher than the weekly average a year ago. the hospitality industry remains the hardest hit. it has already shed 490,000 in the month of january so far. the overall number of people claiming unemployment benefits did drop fairly substantially from 18.4 to 16 million. that's largely because of a temporary lapse in covering. it doesn't indicate that those people are back at work. the number is expected to rise again once with the latest emergency measures are put in place. rebuilding america's labo

he referenced moody's analysis and his plan, saying it would add to the jobs. guest: he's right.did an analysis of his proposals, and if passed into law, it would have a significant beneficial impact upon the economy, not only helping the economy get to the other side of the pandemic, but giving it a bit of a boost to getting back to full employment more quickly. if you take a look at the numbers, it would add about 7.5 million jobs to the economy over the coming year, which is meaningful. again, for a little bit of context, the economy is still down about 10 million jobs from its pre-pandemic peak, so we get the bulk of those jobs back in that release package -- in that relief package proposed by president biden. host: where would that relief come from? guest: we borrow it, deficit financed, like other packages financed there and be pandemic. this is the u.s. treasury issuing bonds, raising money from investors, taking that money and using that to finance all of the different aspects of the support. the unemployment insurance, the paycheck protection program, money for small bus

but some politicians like she loved it did the a member of prime minister moody's hindu nationalist b.g.p. party have gained notoriety by capitalizing on the citizenship debate. on. a mass about how willing to give in to the bill today we join him as he campaigns for reelection to the state's legislative assembly. he represents. a district that has one of the high. why is streets of exclusion from the citizenship list of the that he has consistently used the citizenship issue to target a sam's muslim community could count only 34 percent of the state's total population . more than 11 districts a 100 percent muslim dominated districts build mistry to hurt the sentiment of the hindu they are not citizens so not bad brian dawe a lot of drool different means. different type of jihad this is going on yeah they it with is are going on but there is a lot of jihad yes what is not you have actually true facebook anybody going to get into any any of any place so this. was him boys. who are well trained big trap the hindu goes by fig names at that if they even give them a look there's absolutely no

[speaking french] host: kate moody has joined us in studio.et's take a look at joe biden's inauguration and his plans for the u.s. economy. kate: u.s. senators have begun grilling the nominees for some of his top cabinet positions who he hopes will be approved and put in place as quickly as possible. the former federal reserve chief janet yellen who has been chosen to lead the treasury department defended the $1.9 trillion to mills package by which biden's team hopes to jumpstart the economy. it will include stemless checks for american families, more generous unemployment benefits, and financial aid for local governments, schools, and vaccine distribution. yellen who helped shepherd the u.s. out of its last recession told the finance committee it was essential to protect businesses and households from the worst effects of the pandemic while addressing underlying issues of inequality. >> neither the president elect nor i proposed this relief package without an appreciation for the country's debt burn, but right now with interest rates at histo

. >> i'm irritable, i am moody, a ringing in my ears. >> announcer: plus, it wasn't the vaccine. >> what

powerful impact to see the picture as they look very moody waiting for the scene so it depends under actions of the government but a senior specially the topic of maxine nation was always since vaccinations when ben's a part of conspiracy series and therefore it is crucial to read the a sit down and have strategies how to deal with that would wipe not only in germany because there will be probably attacks and there were already attacks against scientific institutions also in german. and warring outlook that the batty psychology is an expert on conspiracy theories thank you so much. you know that come back. right time for your questions now over to a science correspondent eric williams. why do children have a thorough few symptoms of covert 19 and have fewer side effects. one of the things that's puzzled researchers since the beginning of the pandemic has been the effect that the disease has on kids they just don't seem to get it as often as adults do and when they do it only rarely turns severe why not well experts now think that there are factors could be playing roles of the 1st in

have but of course the demonstration has another powerful impact to see the picture as they look very moody waiting for the scene so it depends under actions of the government but a senior specially the topic of maxine nation was always since vaccinations when benta 'd part of conspiracy series and therefore it is crucial to read the a sit down and have strategies how to deal with that would why not only in germany because there will be probably attacks and there were already attacks against scientific institutions also in germany. and he warring outlook that the alarm batty psychologist an expert on conspiracy theories thank you so much. you know that come back. right time for your questions now over to our science correspondent eric williams. why do children have the so few symptoms of covert 19 and have fewer side effects. one of the things that's puzzled researchers since the beginning of the pandemic has been the effect that the disease has on kids they just don't seem to get it as often as adults do and when they do it only rarely turns severe why not well experts now think that there

training needed by our workers to be able to compete and when in the global economy of the coming years moody's an independent wall street firm said my approach will create more than 18000000 good paying jobs our rescue and recovery plan is a path forward with both seriousness of purpose and a clear plan with transparency and accountability with a call for unity that is equally necessary and union is not some pie in the sky dream it's a practical step to getting the things we have to get done as a country get done together as i said when it passed in december a bipartisan kovan 19 relief package was a very important 1st step and i'm grateful for the democrats republican independent members of congress who came together to get it done but i said at the time it's just a downpayment we need more action more bipartisanship and we need to move quickly we need to move fast our rescue plan starts aggressively in order to speed up our national kovan 1000 response the vaccines offer so much hope we're grateful to the scientists and researchers and everyone who participated in the clinical trials were al

he referenced moody's analysis and his plan, saying it would add to the jobs. guest: he's right.d an analysis of his proposals, and if passed into law, it would have a significant beneficial impact upon the economy, not only helping the economy get to the other side of the pandemic, but giving it a bit of a boost to getting back to full employment more quickly. if you take a look at the numbers, it would add about 7.5 million jobs to the economy over the coming year, which is meaningful. again, for a little bit of context, the economy is still down about 10 million jobs from its pre-pandemic peak, so we get the bulk of those jobs back in that release package -- in that relief package proposed by president biden. host: where would that relief come from? guest: we borrow it, deficit financed, like other packages financed there and be pandemic. this is the u.s. treasury issuing bonds, raising money from investors, taking that money and using that to finance all of the different aspects of the support. the unemployment insurance, the paycheck protection program, money for small busin

moody's, independent wall street firm, said my approach will create more than 18 million good payinglan with transparency and accountability with a call for unity that is equally necessary. in a unity is not some pie in the sky dream. it is a practical step to getting the things we have to get done as a country get done together. as i said on the past december, the bipartisan covid—19 relief package was a very important first step. i'm gratefulfor the democrats and republicans and independent members of congress who came together to get it done. but i said at the time that it is just a down payment. we need more action. more bipartisanship. and we need to move quickly. we need to move fast. i rescue plan starts aggressively. in order to speed up our national covid—19 response. the vaccines offer so much hope was that we are grateful to the scientists and researchers and everybody who participated in the clinical trials. we are also grateful for the rigorous review and testing that is led to millions of people around the world already being vaccinated safely. but the vaccine roll—out

were some concerns about the government's credit worthiness and the market turmoil back in march so moody's last month peg the combined financial shock of the pandemic to stay at 220 $4000000000.00 and meanwhile the outlook for state and local governments still remains quite uncertain coinstar ravaging the city and the timing of acting rollout remains unclear so many cities that rely on property tax revenues they're going to be in further distress and 2021 as the mac population exodus and business closures are factored into propping values and their valuations get reassessed and takes a major haircut so there will be a big valuation hit for local governments so it seems like more muni's will have to be issued in order to refinance and get cash and hopefully investor appetite for these needs will keep up well hopefully but of time yeah there are some not believe that right now at this point interest rates they're actually looking to rise sooner than forecasted i meant 2022 or even early 2023 obviously is a recovery recovery of the economy continues at lana said reserve president bostic when