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  • We're discussing economy.

  • We're discussing how it relates to jobs and all of the things that air happening right now with the with the virus that we've become so familiar with, I'll be making some decisions.

  • I've already made some decisions actually today, but I'll be making some, uh, some other ones that are very important on.

  • I thought I'd let the press in to hear some of the wisdom from the folks in the room and maybe Brian, I'll start with you.

  • Brian's the chairman and he's the man of the at Bank of America.

  • I respected everybody in this room is at the highest level.

  • Have respected Brian, please.

  • Thank you, Mr President.

  • Thank you for bringing us together CEOs of a large bank here.

  • I want you to know that were because of all the work done on a capital liquidity and all the things as we look forward to uncertainty due to the virus and oil price changes were very strong capitalized where you are in great position in terms of liquidity, capital and strength.

  • But most importantly, we're doing we do best, which is helping our our teammates importantly, but also our clients and our small business customers are medium sized business customer.

  • Continue to have access to credit.

  • All of us are providing relief to any customer.

  • Has an issue of being out of work for the buyers, for things we've done and every natural disasters occurred in many years on.

  • And we tell you that up until the last couple weeks of the activities been very strong and it is still strong.

  • We're still seeing people spend money.

  • We're still seeing people go out small business loans or continue to grow.

  • Auto loans are growing.

  • Mortgage mortgage loans are very strong, but the real key is, well, well capitalized.

  • We're here to help small businesses, medium sized business of core American Connie run and help our consumer clients really, whether the storm in case they're directly affected, thank you very much.

  • I think it's part of that.

  • Mr President, I think it's important to recognize a few things.

  • One is building off what Brian said.

  • This is not a financial crisis.

  • Banks and financial system are in sound shape and we're here to help part of it.

  • I think second is when we look att, what's going on?

  • Many ways were going at several challenges at the same time we woke up or we went through Sunday and a precipitous drop in oil prices and we needed to deal with that when the market opened on Monday.

  • Clearly, Corona is front of mine for everybody, not just here in the U.

  • S.

  • And I think the market's going through a period of trying to get price discovery and I think also trying to figure out what is the intermediate, longer term health of the economy and I think what we saw.

  • We saw some fears on the back of those on talk about potential recession on the back of those and I think the market's going through discovery phase and really trying to figure out what earnings were goingto look like and where valuations should be.

  • I think the good news is that the markets have performed in the orderly way.

  • The infrastructure that supports the markets, I think has held up through some pretty good tests.

  • There's been some strange along the way, but I think it's held up well and it's been it's been orderly and as Brian said, from the banking perspective, we're here to help you want to provide liquidity.

  • We wanna lend to our small businesses.

  • We want to be supporting our consumer clients.

  • Thank you very much.

  • Well, that's true.

  • But I think prior to the Corona virus it was It was just all go.

  • The numbers were fantastic.

  • And we don't even know what the numbers on that we'll have to see.

  • Uh, the numbers from a week ago were great and from two days ago, and now we're hitting a patch and we're gonna have to do something with respect to getting this.

  • Getting rid of this viruses quickly as possible and as safely as possible are number one A number one priority is the health of the people of our country.

  • And so will making most likely a statement.

  • I'll be making a statement later on tonight.

  • As to what?

We're discussing economy.

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