but in so many ways, it is not -- jonathan: i believe we lost the connection there with tom porcelli,ntence. good job we've got another economist with us, standing by. the high-frequency data tom was talking about, i wonder how useful that is now. clearly useful in the previous few months. how useful is it? michael: you've got to forgive economists because we have never really had a situation like this before. in terms of how fast the economy comes back, very hard to make predictions. , we we seem to have now will call it estar, equilibrium level. what kind of gdp can you get at a certain level of activity? we saw an immediate come back as the economy turned back on. but it is not all the way back. the progress that we have made is going to be much slower from here on because there are a lot of businesses that are no longer in business. that is where the high-frequency data gives us a better picture of how fast we are recovering and what kind of opportunities are still out there. when you look at the stimulus possibilities going forward, the question was, could we keep more businesses

whether president trump sitting in the seat or biden >> yes so much up in the air right now with tom porcelliwe appreciate you rolling with the breaking news. thank you for joining us folks, that does it for us the president and melania trump testing positive for covid-19. the attention on that big breaking news. we'll pick up the major breaking stories next best to you. have a great day and a great weekend. any questions? the good news is... we've learned, we can do this. turns out when we're hitting our goals, nobody cares if we're wearing pants. we just need the right tools. so our team, stays a team. so no matter what comes next we can work better do better this is going to work. >>> breaking in the middle of the night, approximately 1:00 a.m. president trump and the first lady test positive the president's doctors say both are well and plan to quarantine in the white house also jobs friday, october 2, 2020 "squawk box" begins right now.

we heard from tom porcelli today, who is on the edge of grim into the fourth quarter. the only reason people watch this show, we are up to 25 listeners and viewers. [laughter] jonathan: let's call it 26. i don't think you should be extrapolating out the balance of the next several months. what i am suggesting is that at chairoint, with the fed beating the drum to hard for fiscal stimulus tom: you don't remember this. greenspan would mention the dollar. i remember there were global headlines because he actually talked outside the monetary purview. now it is normal. jonathan: i would agree with that. i'm agreeing with you a lot today. tom: lisa, save me. help me. lisa: from agreeing? yeah. jonathan: alongside tom keene and lisa abramowicz, i'm jonathan ferro. tom: this is not healthy. jonathan: coming up, jeanne zaino, iona college professor and bloomberg contributor. i imagine we will disagree with each other and about 18 minute'' time, right here on bloomberg. ritika: with the first word news, i'm ritika gupta. president trump stunned campaign advisors and allies in co