Larry Summers, Bloomberg, New York discussed on Bloomberg Daybreak Weekend
Punch, and I was going to produce a 6 to 12 inches of rain with isolated maximum of totals of 18 inches through Sunday night. That's across South Texas, and in several Mexican states across the U. S and Mexican border. I'm in caves. And I'm Susanna Palmer In the Bloomberg News Room. New numbers on the Corona virus in New York, New York, reported 750 new cases a 2/10 of 1% increase That's in line with the previous week's average. Iris hospitalizations fell slightly to 646 The state recorded 10 deaths. Former Treasury Secretary Larry Summers says he can't remember when a recovery has been more uncertain than it is right now. Usually the economy his bottom. And you can be pretty confident that it's gonna go up for a while. This time. I don't think so. Given what we're seeing in the data unemployment insurance claims too sweet. And, more broadly, given the uncertainty about the course of a pandemic. Summers was interviewed on Bloomberg Wall Street Week. He predicts the biggest falloff in stimulus if Congress doesn't act strongly and quickly, and he says that the length of the relief is more important than its size. Beijing slammed to the forced entry to its used in consulate by U. S personnel on Friday evening and value respond as necessary. Federal agents and local law enforcement authorities broke into the consulate, according to the Houston Chronicle and CNN this after issuing an order last Tuesday that it must close within 72 hours. Newspaper reported that among the personnel on site were some wearing shirts carrying the words. U. S Department of State. Beijing said that the U. S had broken diplomatic conventions by entering China's national property. The pandemic of 2020 is showing up as the driving force behind one of the most ferocious rallies the gold market has ever seen. At the close of trading in New York yesterday, bullion had spiralled to 19 0 Tuo to announce that some 30% higher than the low it hit back in March and just over 1% off a record high set in 2011. Mark Mobius is co founder of Mobius Capital Partners that would be buying now and continue to buy global news 24 hours a day on air and on Bloomberg. Quick take powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer, This is Bloomberg. Hi, I'm Danica Patrick. Watching.