let's get back to paul allen in sydney. have been some voices saying around the world, you might see a situation where there is a positive side to the economic recovery and all this stimulus may not be necessary. is it too soon to be talking about whether the rba can start tightening soon? paul: yeah, look, i think that is definitely the hope. maybe this is more of an indicator that the rba is the place right now it is not particular want to be. this is the line in the statement -- if conditions continue to improve, it is likely that smaller and less frequent purchases of government bonds will be required. here is what we heard so far. $30 billion of federal and state bonds. the rba is pleased with how that has gone. it has noted success on keeping the yield on three year government bonds around its target. a 90 billion target is up and running. that is on monday too. the broader question is how do you take back all that stimulus when the time comes? looking into this yesterday, there has been tightening in australia for al

thank you, paul allen. i appreciate you joining us and thank you for doing what you're doing.ure he can hear us. so hospitals in new york are being stretched to their max with coronavirus patients. and er doctor took a camera with her to show us what a day at one of those hospitals looks like. that video is next. you don't want to miss it. phons, and there's more to me than hiv. there's my career,... my cause,... my choir. i'm a work in progress. so much goes... into who i am. hiv medicine is one part of it. prescription dovato is for adults who are starting hiv-1 treatment and who aren't resistant to either of the medicines dolutegravir or lamivudine. dovato has 2... medicines in... 1 pill to help you reach and then stay undetectable. so your hiv can be controlled with fewer medicines... while taking dovato. you can take dovato anytime of day,... with food... or without. don't take dovato if you're allergic to any of its... ingredients or if you take dofetilide. if you have hepatitis b, it can change during treatment with dovato and become harder to treat. your hepatitis b ma

thank you, paul allen. i appreciate you joining us and thank you for doing what you're doing.ure he can hear us. so hospitals in new york are being stretched to their max with coronavirus patients. and er doctor took a camera with her to show us what a day at one of those hospitals looks like. that video is next. you don't want to miss it. i don't add up the years. and i don't count the wrinkles. but what i do count on is boost high protein. and now, introducing new boost women... with key nutrients to help support thyroid, bone, hair and skin health. all with great taste. new, boost women. designed just for you. >>> hospitals here in new york city are overwhelmed. cnn's clarissa ward introduces us to someone she knows well, dr. melanie malloy, a doctor on the front lines. >> hello. my name is dr. melanie malloy. i am an attending physician at mount sinai brooklyn in mount sinai, queens. i'm on my way to work. >> reporter: we asked my old friend to show us what life is like on one day in one new york hospital. >> so picking up my ppe. i'm going to get some scrubs. i'm going to

want to bring you and paul allen who joins us with a preview of what to expect.xpected to show us about the impact of the nationwide or partial lockdown? a 5.4%s pointing to unemployment rate, an uptick of 5.1%. it does look a tad on the conservative side and treasuries saying unemployment rising to 10%, so it is a question of how quickly these numbers estimate. certainly, other indicators ahead of this, hospitality and tourism for example. fromd a bit of a read consumer confidence figures dropping as well. keepovernment is going to .ayment support programs programan expensive that the government is running in the treasury says without that we would see a jobless rate of 15%. for that, pay ostriches held at a get on sale -- biggest bond sale. it appeared to be oversubscribed as well, over $25 -- worth ofh of aid bids. we have the rba pledging to keep the yield on a three-year as part of its program to battle the coronavirus and in terms of future sales, plenty more to come. sense ofou a perspective, that is almost half of us raise existing debt file. >> let's get

taylor: paul allen in sydney. on some of the markets on wednesday in new york, a rough first day to start off the trading on april 1. but we are seeing some of that resilience in the markets. the futures markets have just opened up less than an hour ago. you are getting some of the bond futures again continuing to go a little stronger. new zealand and australia a penny lower, taking cues from the u.s. on the trading session wednesday with the pessimism we saw in the closing market wednesday, carrying over. we will be having more market analysis when we are joined by chrisch affiliate cio brightman, and we will have more analysis coming up, so stay with us. this is bloomberg. ♪ to help you stay informed of the latest news just say "coronavirus" into your xfinity voice remote to access important information and special reports from around the world. and to keep your kids learning at home, say "education" to discover learning collections for all ages from our partners at common sense media, curiosity stream, history

. >> paul allen from the washington post. >> forgive me. >> it's ok, matt speaker. can you explain in more detail what the clyburn select committee's powers would be, subpoena power and jurisdiction? with a be looking into how this -- would they be looking into how this all started, or are they just supposed to be looking at the oversight of the $2 trillion plus, however much gets put into the recovery and rescue? speaker pelosi: it would have subpoena power, and we would hope there would be cooperation. this is not an investigation of the administration, it is about the whole -- there are things that are so new, and we want to make sure there are not exploiters out there. one of the cabinet officers told me yesterday that there are people who are pretending they had ventilators or masks, masks, and they didn't -- it was masks. they didn't have it, but they were arbitraging it. where there is money, there is frequently mischief and we want to make sure that the funds that are put out there are done so with the conditions that we had in the legislation, that the impl

shery: paul allen in sydney. now a quick check of the latest business flash headlines.cretary steven mnuchin is refusing to budge on repayment guidelines for airlines wanting government aid amid the coronavirus. carriers face massive losses as the pandemic hampers travel demands with drop off as 95%. the treasury says any airline eligible for aid must repay 30% of the grants through low-interest loans within five years. ford is considering additional financing as the global pandemic keeps more pressure on earnings. the world already slumping. expected to report a loss later this month and says there's about $30 billion in cash as of april 9. bloomberg intelligence says that suggests ford has burned through $8 billion since the end of last year. the company has already suspended its treasury dividends. amazon is expending a tyree spree by -- hiring spree by 75,000 workers as it faces increasing demand. extrampany has failed an 100,000 temporary and full-time positions. anzon has been classified essential service amid the shutdown as other retailers around the world are f

. >> reporter: this florida farmer, paul allen says that 50% of his green beans and cabbage are grown lines and schools. with full stop closures, he's donating as much of his surplus as he can. >> we're working with state and federal agencies to get as much as we can, but they can't absorb it all. i would say maybe 5% or 10% of the volume can be handled by a food bank. >> reporter: complicating th challenges created by the pandemic, they're competing with foreign imports. >> we need our administration to stop that, and help, you know, our american farmers to make it through this. >> reporter: now dairy farmers have been impacted by this too. without those coffee shops and schools, there's nowhere for the product to go. there's one story out of wisconsin where a dairy farmer there is reportedly dumping a quarter million gallons of milk every day. the president says the help is on the way. the big question is, how much and when? dan. >> such a waste, especially at a time when people are going hungry. such a mismatch in the system. zachary, thank you v rob marciano. >> thank you. >> here

paul allen is in sydney and joins us. it is one thing to pass a package. these expensive measures be in place for? paul: it could be quite some time. scott morrison said it could last a lot longer than the six months that this subsidy plan is going to be in place for. this will cost 80 billion u.s. dollars, 130 billion australian. that will pay employers to keep their workers on up to 70% of the median wage but total government spending now throughout this crisis, 320 billion dollars. that is more than 16% of gdp. and more spending likely as the crisis continues and we hit the recovery phase. we have the budget delayed until october. it was meant to be next month and that should see the largest deficit since world war ii, and of course, we were reporting yesterday that s&p got to australia on a negative outlook for that aaa rating. likely tore is still be a big uptick in next week's jobless numbers. is there a risk to the property market? it is a-- paul: worthwhile question because house prices in australia is very elevated. household that is twice what it

until there is confidence the economy is back on track sara bloom raskin, former fed governor and paul allen mccully, good afternoon to both of you. sarah, what was your take-away from fed chair powell's pretty tricky communication he had to give >> right so sara, the barn door at the fed is wide open and everything is out the horses are running faster and faster all the tools, some deployed, and essentially what chairman pow sell saying is he will do whatever it takes to actually get this economy moving again. we know the tools he has work through financial market market , that he can't do anything about getting a vaccine, the plat economic activity, the number of unemployment concerns. that is of much concern. he's done quite a bit. he's got us at the zero lower bound. he has expanded quantitative easing in a way that of course has no time limit, no duration, it has essentially an open-ended quality to it. and then of course we've got these mayor fed liquidity facilities they are all out and they are standing up now and they are essentially, you know -- the faucets are turned on high essen

. >> here is our own allen martin with all of his siblings, and take a look at this. this is our chief meteorologist paul heggen when he was just a youngster. aww. with his sister. very cute. and then here is juliet goodrich and her sister. hash tag kpix. those mire siblings. thank yofor watc ♪ ♪ captioning sponsored by cbs >> o'donnell: breaking news tonight: 100,000 deaths worldwide. a global milestone as the death toll continues to rise here at home. but in new york, coronavirus cases are starting to level off, t d for the first time, the number of patients in the i.c.u. declines. but these signs come with a warning. >> as encouraging as they are, we have not reached the peak. >> o'donnell: and these striking images: bodies buried on hart's island in the bronx. among them, covid patients in a field used for burying the unclaimed dead. reopening america: the president d ys he has a date in mind to restart the economy, and it's weighing on him. >> i'm going to have to make a decision, and i only hope to god