Surveillance: Record Jobless Claims with Porcelli
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 26 March 2020
⏱️ 30 minutes
🧾️ Download transcript
Summary
David Kelly, JPMorgan Asset Management Chief Global Strategist, says the economy should be held in suspended animation until coronavirus is under control. Tom Porcelli, RBC Capital Markets Chief U.S. Economist, says this is just the beginning of jobless claims being elevated. Leslie Vinjamuri, Chatham House Head of U.S. and Americas Programme, says the Senate's $2 trillion stimulus package is extraordinary but the cause of the coronavirus pandemic must still be dealt with. Karen G. Mills, Former Head of the U.S. Small Business Administration, estimates more than half of the 3.3 million U.S. jobs lost were from small businesses.
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| 0:24.6 | dot com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:43.4 | Daily, we bring you insight from the best in economics, finance, investment, and international |
| 0:48.9 | relations. |
| 0:49.8 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com and of course |
| 0:56.2 | on the Bloomberg. |
| 0:57.2 | Phoning in I'm pleased to say is David Kelly of J.P. Morgan Asset Management, the chief |
| 1:01.5 | global strategist David, always great to catch up with you. Asset Management, the Chief Global Strategist. |
| 1:02.8 | David, always great to catch up with you. |
| 1:04.8 | In around about one hour and a half, |
| 1:07.0 | we're going to have some dreadful data |
| 1:09.1 | in the United States of America. |
| 1:10.4 | It won't surprise many people that it's ugly. |
| 1:12.3 | It will be ugly. But how should we be thinking about some of these data points as they come in through the next couple of weeks David? |
| 1:18.0 | Well, I think we should not overreact to them. What we've, they are going to be ugly. |
| 1:24.4 | I mean, we could get 2 million new unemployment |
| 1:27.3 | claims. |
| 1:28.3 | That would be three times the highest number we've ever seen. |
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