Pool Reports of March 16, 2020

Pool Report #1

Good morning from the White House. Will be your pooler today.

As promised, temperatures were being taken at the NW Gate this morning but it caused no delays getting in. Fewer of our colleagues are here but there's still a robust representation.

The seats in the briefing room have paper taped to each of them designating their new temporary assignments or, alternatively, asking that they remain unoccupied to maintain social distance.

POTUS has no open events on his schedule today but has teleconference calls with fellow G7 leaders (10 a.m.) and with governors (11:30 a.m.). The coronavirus briefing is at 10:30 a.m. and will be live-streamed and presumably aired live on cable TV but will send any color or details that might not be visible on screen if any.

Pool Report #3 -- Kudlow gaggles

Larry Kudlow gaggled on the driveway after a TV hit. Highlights:

* Said the White House is considering financial assistance to the airlines

* Said the various White House coronavirus aid proposals already announced so far add up to $400 billion worth of stimulus and would reach at least $800 billion if a payroll tax holiday through the end of the year were approved

* Urged calm over the markets and again saw buying opportunity

* Reported that the president's call with G7 went well and the leaders agreed to do whatever it takes

* Said the fundamentals of the economy are still strong and declined to say a recession is coming but agreed it will be challenging time though for weeks and months not years

* Floated an idea to cut taxes for companies that relocate their supply chains to the US.

Will send along quotes soon.

Pool Report # 4 -- Lunch lid

Lunch lid til 1:30 p.m.

Pool Report #5 -- Kudlow quotes

Kudlow quotes from the driveway gaggle

On helping the airlines:

"We don't see the airlines failing, but if they get into a cash crunch we're going to try to help them." He did not like the term "bailout," saying it was more of a short-term liquidity issue.

He said the airlines had been in touch seeking aid, "lots of them," and that "we're in touch about their balance sheets and their cash flow."

On whether the world is heading into a global recession:

"We are going to be challenged, no question about it. We have a big challenge. I've been saying that and I'll continue to say it. I'm not going to label it one thing or another."

"The fundamentals of the economy are strong," he added, saying that GDP was on pace to grow around 3 percent in January and February.

On fiscal response to the crisis:

He emphasized that the plans already outlined by POTUS such as the funds available through the Stafford Act, deferral of income tax payments, deferral of student loan interest and purchases of oil combined with the unpaid sick leave in the House-passed bill all add up to around $400 billion, though he avoided the word stimulus. "We have roughly 400 billion in – I prefer to think of it as fiscal assistance."

Adding a payroll tax holiday through the end of the year would boost that to at least $800 billion, he said. "We have an enormous fiscal plan."

On the market plunge:

"This market decline's tough. Very tough. My own view, right or wrong, better or worse, I've always advocated long-term investing for myself and my family and friends. … To me, when you see these big dips, these big drops, they're buying opportunities if you're a long term investor."

He praised the Fed for its moves on Sunday. "I want to really support their actions, as the president is correctly concerned about liquidity and very short term cash flow issues, exactly the sorts we're talking about here. The Fed has enormous power, enormous power. And it looks like they're going to start using it in connection with the Treasury Department and the president and the executive branch."

On supply chains in China:

He said one idea that he likes is 100 percent immediate write off of expenses like structures, equipment, R&D and intellectual property. "That would pay for the moving expenses of American companies based in China. Right there, that would pay for their moving expenses."

He said it was not a formal plan. "I'm tossing it out as something we're thinking about. I'm not here to form – the president hasn't signed off on it. It's something worth thinking about."

On the G7 call:

It was a "fabulous call," adding: "The degree of cooperation and coordination was fantastic. Everybody, basically – and I've seen them around the table a couple times not so fantastic – today, basically, they all want to do whatever it takes on the health side of solving the virus side and on the economic side, we just heard that from one president and prime minister after another."

He said they would continue to meet and coordinate. "They're not always so agreeable but they are today. It's a wonder to see, it's a wonder to see."

He noted that PM Abe of Japan "mentioned how much he wanted to hold the Olympics in Tokyo, this summer. He doesn't know if he can, but he would like to. He believes that that would be a great leadership issue for the whole world, and President Trump wished him luck on that, we're all behind him on that."

Pool Report #6 -- G7 readout

From Judd Deere:

Today, President Donald J. Trump hosted a historic video teleconference with his G7 counterparts. The leaders discussed efforts to accelerate the national health and economic responses to the coronavirus pandemic in order to save lives and restore economic growth.

G7 Leaders agreed to:
- Strengthen health systems in our countries and globally, including by pooling epidemiologic data and cooperating on research.
- Use all fiscal and monetary measures to address the economic impact of the outbreak and restore growth.
- Support the efforts of international organizations, including WHO, CEPI, the IMF, and World Bank, to suppress this disease outbreak and swiftly provide appropriate financial assistance to address the economic shock.

Following the video teleconference, G7 Leaders released a statement that showcased the collective resolve and shared commitment to tackle this public health emergency and the associated economic risks.

Pool Report #7 -- governors readout

Read out from Judd Deere:

Today, President Donald J. Trump and Vice President Mike Pence led a discussion with the Governors of more than 50 States and territories and the Mayor of the District of Columbia to provide an update from the White House Coronavirus Task Force and to continue the whole-of-government response to, preparation for, and mitigation of COVID-19. The President discussed the unprecedented actions taken and funding being provided at every level of government to meet this historic challenge. The Vice President encouraged Governors to thank exemplary American businesses, individuals, health, and emergency officials, and communities of faith who are doing what they can to "flatten the curve" in this all-of-America effort. Both the President and Vice President thanked Governors, State, and local leaders for their tireless work.

White House Coronavirus Response Coordinator Ambassador Deborah Birx, M.D., and Assistant Secretary for Health at the U.S. Department of Health and Human Services Admiral Brett Giroir, M.D., provided updates on testing capabilities and highlighted community mitigation activities. Federal leaders also provided a global status update on COVID-19 and thanked Governors for activating their emergency operations centers, and the National Guard, and establishing State-level task forces. Governors provided updates on mitigation activities and discussed coordination with private sector partners and other State, local, and tribal government officials.

Since January 2020, the Trump Administration has held at least 36 briefings with more than 15,000 State, local, and tribal leaders in every State and territory in our Nation. The Federal Government has conducted thousands of one-on-one conversations with State, local, and tribal officials. This unprecedented level of connectivity will continue.

Pool report #8 — Briefing now scheduled for 3:15pm

Hi all, making sure you saw that the briefing start time was moved up from 3:30 to 3:15. Supposed to begin imminently.

WH staff has been clearing out press without assigned positions under the new guidelines.

Pool report #9 — briefing starts / handouts

The WH coronavirus briefing is underway, and streaming here: https://www.whitehouse.gov/live/

POTUS in attendance.

WH officials handed out the attached documents under embargo until the start of the briefing.

Note: Steve Portnoy also asked reporters to observe the new seating arrangement, that is not a WH-press office driven effort.

Pool report #10 / briefing attendees

POTUS
VP Pence
Anthony Fauci
Brett Giroir
Deborah Birx
Alex Azar
Seema Verma
Jerome Adams

Pool report #11 / briefing over + jpeg handouts

The briefing concluded after approximately 55 minutes.

For those who were unable to open the handout photos in their original format, they are re-attached here as jpeg files.

And I see the WH has just sent out the guidelines in the form of an official release; that'll be your cleanest image.

Pool report #12 — lid

At 6:08pm, we have a travel/photo lid.

Have a good socially-distant evening.