Jerome Powell, Chairman, Economic Adviser discussed on KNX Programming


The carpool lane in the fast lane and that is what's going on in this eight o'clock our next report coming up at eight fifteen I'm Jim Biggs with more cover reports Watson can extend seventy newsradio there's a winter weather advisory for most of the mountains in the southern California area also a high wind warning especially for the inland empire we're going to have overnight lows just in the thirties and forties so it's going to be really cold even dropping to the twenties in some valley areas and we will have scattered showers through the evening hours possibly into tomorrow it's going to be in the mid sixties to the mid seventies tomorrow cina fifty three degrees right now in Redondo Beach is fifty five Ontario fifty one degrees it's eight oh seven this is most check on money your number one source for business and consumer news here in southern California sponsored by opus bank on plant project the impact of the corona virus on the global economy rattles nerves in seconds investors uncertainty over the economic impact of the virus spreading outside of China sin stocks dramatically pulling back from the record highs achieved just a few weeks ago the stock market racked up its worst weekly losses since the financial crisis in October two thousand eight we saw several days a one day one thousand point moves in the Dow Jones industrial average just over the past week including Thursday's one day closing loss of nearly twelve hundred points that was biggest one day point drop in market history market trim losses heading into the weekend after White House economic adviser Larry Kudlow urged calm and fed chairman Jerome Powell signal before the closing bell that was repaired to cut interest rates to ease the economic.

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