Newport, CEO, Economic Adviser discussed on Mottek on Money

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That delivery truck out of the way still a little bit of slow traffic from hold but you're definitely is starting to recover there in that home house there's a lot of reports of heavy fog and light rain through the past so just be very careful if you're going to head through there and Chino that went outside of the sixty at mountain that's where we've got our call fire that's going to be on the right shoulder in the city of orange the northbound side of the fifty five between Chapman and K. Tel afar rightly is close for Caltrans work next report of eleven fifteen with more reports more often I'm at Smith and the Toyota four door twenty four hour traffic center can extend seventy newsradio currently downtown we have sixty three degrees it's still cloudy Long Beach at fifty nine Torrance at fifty nine you heard Rick talking about the fog in the homepath don't passes so take it easy if you're gonna be drive traveling they shouldn't be of course unless it's essential but if you have trouble through any of these areas that are still forty wait because the sunshine is a common but right now some promoter on Monday this is my take on money your number one source for business and consumer news here in southern California sponsored by opus bank complaint Bocek coronavirus paint on Wall Street and on main street the death toll the number of coronavirus cases continue to rise the number of people unemployment line saw record search for the second week in a row nearly ten million Americans applied for unemployment benefits in the last two weeks of March the labor department reports the nation's unemployment rate shot up for a fifty year low of three and a half percent to four point four percent as employers cut at least seven hundred one thousand jobs that number is expected to be revised sharply higher money for the two point two trillion dollar rescue package approved by Congress last week started flowing the head of the International Monetary Fund now expects the sudden recession sparked by the pandemic is going to be way worse than what we saw during the two thousand eight financial crisis calling the current situation of crisis like no other the corona virus pandemic now expected to cost the global economy as much as four point one trillion dollars stocks on other volatile week without coming in for closing loss of three hundred sixty one points to end the week at twenty one thousand fifty two the Dow was down two point seven percent for the week joining me now Dr Mohammed Auriant chief economic adviser Ali ons former pimco CEO Newport beach Muhammad again thank you very much for joining us here after another very difficult week coronavirus.

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