The designation of this episode as a recession even if it turns out to be briefer than earlier contractions now economists generally define a recession as 2 consecutive quarter months of 2 consecutive quarters of Economic Contraction g. D. P. In the us has already fell by 5 percent in the 1st quarter of this year and the economy is expected to climb by a steeper margin in q 2 of 2020 lets get some expert analysis on this and and the state of the economy with todd morris chief strategist at the trading and cohost christiane who joins us from los angeles thank you both for being here today but i want to start with you now the n b e r declared that the u. S. Recession began officially in february now this marks the fastest the n b r has actually declared any recession is this a good thing as the faster the drop usually the faster the bounce back. From a back listen i put very little stuff. To what any account is really said because theyre not calling it until its already over and theyre s
Have a 6 pack show today so lets dive right in. And the United States has officially entered a recession in february of this year ending 128 months of economic expansion which was the longest run in more than 150 years according to the National Bureau of Economic Research now the announcement from this organization comes much earlier in a recession than they generally like the any b r wrote about the situation saying the unprecedented magnitude of the decline in employment and production and its broad reach across the entire economy warrants the designation of this episode as a recession even if it turns out to be briefer than earlier contractions now economists generally define a recession as 2 consecutive quarter months of 2 consecutive quarters of Economic Contraction g. D. P. In the us has already fell by 5 percent in the 1st quarter of this year and the economy is expected to climb by a steeper margin in q 2 of 2020 lets get some. Analysis on this and and the state of the economy
Need for Migrant Workers we have a show for you today so lets go and dive right in. And we begin with our daily chrono virus update the Global Pandemic now nearly 87000 deaths and more than 1400000 and factions on tuesday President Trump the World Health Organization even threatened to withhold funding from the institution he said the organization is very china centric. W. H. O. Thats World Health Organization. Receives their surveillance of money from the United States. And. We pay for a majority the biggest portion of their money. And they actually criticized and disagreed with my travel ban at the time i did it and they were wrong theyve been wrong about a lot of things. And then a lot of information early on they didnt want to do very they seem to be very china centric. And we have to look into that so were going to look into it we Chinese Foreign ministry responded to trumps comments by defending the United Nations health agency. China will as always firmly support the work of the
Up for the season that starts next month with all the teams playing in phoenix. The cdc and National Institutes of health are supportive even espn. Even though there wont be any fans, it seems like we might return to some semblance of normalcy well, dont take me to the ball game, but have a ball game i think thats the perfect metaphor for today the market started strong, kind of excited about the baseball season dow up at 1. 900 points i think the metaphor is actually wrong which is why we sold off hard in the afternoon. Dow ended up closing off 26 points s p dipping. 16 it was quite a reversal. Were supposed to be in one of the saddest moments in history while we slow the spread of covid19, the death toll keeps rising the darkest is just before dawn. What do they think dawn looks like if you judge from yesterdays action, investors are buying on a vshape recovery boom, boom, business comes back, everything comes back to normal. A v says we have this virus whipped in no time id love tha
And we begin with our daily chrono virus update the Global Pandemic now nearly 87000 deaths and more than 1400000 and factions on tuesday President Trump the World Health Organization even threatened to withhold funding from the institution he said the organization is very china centric. W. H. O. Thats World Health Organization. Received best amounts of money from the United States. And. We paid for a majority of the biggest portion of their money. And they actually criticized and disagreed with my travel ban at the time i did it and they were wrong theyve been wrong about a lot of things. And that a lot of information early on they didnt want to do very they seem to be very china centric. And we have to look into that so were going to look into it we Chinese Foreign ministry responded to trumps comments by defending the United Nations helping agency. China will as always firmly support the work. And support the do to continue to play leading rule in Global Cooperation in the fight aga