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For millions of Americans, the economic fallout of the coronavirus pandemic could be starting to take shape. Late last week, a 0 per week unemployment supplement expired. Also funding from the Paycheck Protection Program has long been depleted. The program was implemented to help employers make payroll during the pandemic.In addition, data released last week indicated the US GDP declined by one-third in the second quarter of 2020.While Congressional Democrats, Senate Republicans and the White House are largely in agreement on the need for a stimulus, agreeing to a framework remains in question. The two sides are at odds over how much of unemployment should be supplemented by the federal government. There is also a debate on offering businesses liability protection from coronavirus-related lawsuits.“Today we have an emergency,” Pelosi said. “A building is on fire and they're deciding how much water they want to have in the bucket. This is very important. Millions of people could've fallen into poverty without the 600 dollars. They're so fussy about any anecdotal information they might have about somebody not going to work because they make six hundred dollars on this, but so cavalier about big money going to companies that shouldn't really be having it."Treasury Secretary Steven Mnuchin met with Congressional leaders on Saturday."There's clearly a subset of issues where we both agree on very much,” Mnuchin said. “We're very interested in extending un-enhanced unemployment insurance, we're very interested in schools, we're very interested in jobs. I think as you know, as the Leader (Mitch) McConnell has said, liability insurance is very important to us. So there's definitely the PPP, there's a lot of bipartisan support." 1759

Federal Reserve chairman Jerome Powell gave investors reason to cheer on Wednesday when he suggested that the Fed may slow down its interest rate hikes.The Dow surged on the news and closed up 600 points, or more than 2%, in midday trading. The S&P 500 and Nasdaq each rose about 2% as well.Powell reassured investors that the Fed wouldn't risk killing off economic growth by continuing to aggressively raise rates next year."Our gradual pace of raising interest rates has been an exercise in balancing risks," Powell said during a speech at the Economic Club of New York. "We know that moving too fast would risk shortening the expansion. We also know that moving too slowly -- keeping interest rates too low for too long -- could risk other distortions in the form of higher inflation."Powell noted that rates remain relatively low and that they are just below what many economists consider "neutral for the economy -- that is, neither speeding up nor slowing down growth."Investors seemed to interpret Powell's comments as a sign that the Fed, which is widely expected to raise rates again at a meeting next month, may now only hike rates once or maybe twice at most in 2019 as opposed to earlier forecasts of three or four hikes.The Dow's most cyclical stocks were among the biggest gainers. Shares of Boeing (BA), Caterpillar (CAT), Microsoft (MSFT) and Apple (AAPL) helping to lead the rally.In fact, only four Dow stocks -- Verizon (VZ), United Technologies (UTX), DowDupont (DWDP) and Procter & Gamble (PG) -- were trading lower Wednesday afternoon.Matthew Cheslock, a trader at Virtu Financial, told CNNMoney editor-at-large Richard Quest on "Markets Now" Wednesday that the market interpreted Powell's comments as meaning that we are "closer to normal rates. I think that was what really sparked the market to go higher."Cheslock added that some of Powell's remarks about the market not being in a bubble were reassuring as well.Powell's comments may assuage concerns about the Fed possibly going too far with rate increases, a criticism leveled by President Donald Trump.But Tobias Levkovich, Citigroup chief US equity strategist, told Quest that the market may be overreacting."I'm not dancing or partying right at the moment," he said, adding that the Fed has talked about gradual rate hikes "for a very long time." "Maybe [the markets] were just worried it would be worse," Levkovich said.To that end, Trump, who chose Powell to replace former Fed chief Janet Yellen, has often bashed him and the Fed on Twitter and in interviews for the rate hikes.In fact, Trump attacked Powell again in a Washington Post interview Tuesday, saying he was "not even a little bit happy" with Powell and that the Fed was making a mistake with so many rate hikes.Trump even added that sometimes decisions he makes with his "gut" matter more than what other people's brains tell him.Whether or not investors were using their guts or brains when deciding to jump back into stocks Wednesday remains to be seen. But it's clear that the bulls were back in charge on Wednesday."Markets Now" streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by Quest and CNNMoney's business correspondents, the 15-minute program features incisive commentary from experts.You can watch "Markets Now" at CNNMoney.com/MarketsNow from your desk or on your phone or tablet. If you can't catch the show live, check out highlights online and through the Markets Now newsletter, delivered to your inbox every afternoon.The-CNN-Wire 3545

Former Trump campaign adviser Roger Stone told associates he was in contact with WikiLeaks founder Julian Assange in 2016, according to a new report by The Washington Post, which cites two sources.An unnamed source told the Post that Stone had a phone conversation with Assange in the spring of 2016. Ahead of any public knowledge about Democratic email leaks, Stone told the source he had learned WikiLeaks had obtained emails from the Democratic National Committee and Democratic presidential nominee Hillary Clinton's campaign chairman, John Podesta.During the campaign, Stone said in interviews and speeches that he was in touch with WikiLeaks, and he posted tweets in October 2016 that seemingly predicted the Podesta leaks. The Washington Post report suggests that in addition to these public statements, Stone was even more candid in private conversations about ties to WikiLeaks. 895

For most of his career, Louis C.K. has been known as one of the most self-deprecating comics in the business.So it should not have been a total shock when the comedian released a lengthy statement of apology Friday following the New York Times story published a day before that included sexual misconduct allegations from five women.Louis C.K. did what many celebs have not, however, by admitting guilt."These stories are true," Louis C.K. said in his statement.Compared to Harvey Weinstein, who denied rape and other accusations, and Kevin Spacey, who apologized but claimed he doesn't remember assaulting actor Anthony Rapp, Louis C.K.'s mea culpa is considered by some as a step in the right direction.Still, the reaction to his admission, and his contention that he's "remorseful," has been decidedly mixed.While some found it admirable that Louis C.K. fully copped to his offenses, others took to social media to say that his statement in no way negates what he did.Some pointed out that the apology came after the revelations were made public, and Louis C.K. had lost a distribution deal for his movie, a forthcoming stand-up special with Netflix and his content was removed from HBO streaming services.For years, there was chatter about Louis C.K.'s inappropriate behavior toward women.As recently as September, the comic denied the charges to the New York Times, stating that they were "rumors."And some noted that C.K., while apologetic, didn't actually say "I'm sorry" to the women. Nowhere in his nearly 500-word statement were there the words "sorry," "apology" or "apologize."The one thing that many people think is a good thing: The comic says that while he has spent most of his career "talking and saying anything I want" he "will now step back and take a long time to listen." 1801

For 22 years, Derick Waller protected and served in New York City as a member of the New York City Police Department. He joined the NYPD in 1995, starting out as a street cop, but he eventually became a detective.“I absolutely loved being a police officer,” said Waller. “I loved helping with their problems, and I was fortunate to work in the communities of color, which I thought I could serve best.”While Waller enjoyed the comradery with other officers, serving in his hometown communities and helping people in need, there were things about the job he didn’t love and didn’t agree with.“The police department is basically a business, like you work at Macy’s you have to sell. Once you become a police officer, you have to bring in bodies,” said Waller.Bodies, he explained, is a term many officers use to describe when an officer makes an arrest and brings someone in to be booked and processed.“Let’s say you have the company commander of your precinct, he basically gets promoted based on how many arrests he gets,” Waller added.On the surface, that may not seem concerning, but what Waller witnessed was some officers over-policing, especially in communities of color, for the purpose of promotions, higher pay, or because of pressure to fill unofficial quotas.“There are so many amazing officers that just want to do right, but with that pressure on them, how can they?” asked Waller.Toward the end of Waller’s career, he began speaking up about arrest and citation quotas. He made his concerns public on what they were doing to officers’ mentality and the community.He believes what happened to him is a prime example of why so many officers around the country are concerned to speak up when they see another officer potentially doing something wrong or the department implementing questionable policing practices.“A lot of officers want to speak out, but they are so afraid of the retaliation that the police department is going to come after them,” said Waller.After Waller spoke out, he went from being named Officer of the Month to being written up and ridiculed.“I would come back after my days off my locker would be flipped over; they put a big rat poster on your desk, all kinds of stuff,” Waller recalled.Breaking through, the often referred to “blue wall of silence” made the last few years of his career tough, but he left the job still hopeful that improvements with policing could come.“There are many officers who love the job and there are good officers, more than not,” said Waller. “Right now, the definition of a good officer is the one who brings in those arrests. If we can change the definition, then maybe we can change the mentality of the police department.”Waller’s definition of a good officer is one who is respected but not feared in their community. 2796

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