C6 WEDNESDAY, MARCH 4, 2020 LATIMES.COM/BUSINESS
look for the economy and
chose to act,” Fed Chairman
Jerome H. Powell said at a
news conference shortly af-
ter the rate-cut announce-
ment.
President Trump, who
has been an ardent critic of
his own Fed leader, de-
manded that the central
bank keep lowering rates.
“The Federal Reserve is
cutting but must further
ease and, most importantly,
come into line with other
countries/competitors,” he
tweeted moments after the
Fed announcement. “We are
not playing on a level field.
Not fair to USA,” he said, in a
reference to lower interest
rates in other advanced
economies. “It is finally time
for the Federal Reserve to
LEAD. More easing and cut-
ting!”
The Fed’s announcement
came as the international
group consisting of the
United States and six other
major advanced economies,
referred to as the Group of 7,
issued a statement pledging
to use “all appropriate tools”
in response to the rising
risks of a possible global
pandemic.
Although the G-7 pro-
vided no specific action plan,
Treasury Secretary Steven
T. Mnuchin suggested the
White House could soon an-
nounce steps to help small
and medium-size busi-
nesses affected by the fallout
from the spreading co-
ronavirus.
Those steps are likely to
include regulatory relief and
a special lending facility to
help offset potential in-
creases in unemployment
and bankruptcies, said Joe
Brusuelas, chief economist
at the accounting firm RSM
US.
“It will soon be time for
the federal government to
bring out its biggest gun: fis-
cal firepower,” he said.
Powell left open the pos-
sibility of additional rate re-
ductions. In a statement ap-
proved unanimously, Fed
policymakers said they were
“closely monitoring devel-
opments” of a health crisis
that “poses evolving risks to
economic activity.”
With the rate cut, the
Fed’s main interest rate will
be lowered to 1% to 1.25%. Al-
though Powell and his col-
leagues can knock that
down to zero or even into
negative territory — which
Trump has suggested the
Fed do — analysts say lower
interest rates by themselves
are unlikely to be very effec-
tive.
For one thing, it’s not a
lack of credit or even cash
that is of concern. Many cor-
porations are flush. Rather,
the problem is the threat of
widespread closings of busi-
nesses and consumers stay-
ing at home because of travel
restrictions or just beingafraid to go to malls and
public places.
Powell began the news
conference Tuesday by stat-
ing that the fundamentals of
the U.S. economy remain
strong, with unemployment
very low and job growth sol-
id. He also noted, however,
that “we are beginning to see
effects on the tourism and
travel industries.” And some
latest measures of domestic
manufacturing and con-
sumer confidence already
indicate weakening.
“The biggest concern for
me is if there was a substan-
tial drop in consumer spend-
ing, which has been the bed-
rock of the economic expan-
sion,” said Bernard Bau-
mohl, chief global economist
at Economic Outlook
Group.
At this juncture, Bau-
mohl doesn’t see the out-
break triggering a recession
in the U.S., but no one can
say anything very confi-
dently about the outlook.
Atsi Sheth, a managingdirector at Moody’s, wel-
comed the Fed action and
the pledges by others to do
whatever it takes to shore up
the economy. But ulti-
mately, she said, it’s a medi-
cal issue.
“Until the virus itself and
the fear of the virus is con-
tained, I think you’re going
to see markets and the real
economy suffer,” Sheth said.
Powell acknowledged as
much, saying that “we do
recognize a rate cut will not
reduce the rate of infection
[and] won’t fix broken sup-
ply chains.”
Yet he said lower rates
should boost consumer and
business confidence, and
support conditions affecting
credit markets and the fi-
nancial system.
As he has often, Powell in-
sisted the Fed would make
decisions without regard to
political considerations, re-
sponding indirectly to
Trump’s repeated ha-
rangues for the Fed to do
more. Powell declined to say
what fiscal policies should
be taken but agreed that a
multifaceted response was
needed in the face of the epi-
demic.
The Trump administra-
tion itself is said to be con-
sidering a proposal for a
temporary payroll tax cut,
something that was a part of
the stimulus to combat the
Great Recession.
Analysts said that a pay-
roll tax holiday could be ef-
fective if consumers should
pull back or the economy
starts to shed jobs. Job
growth has been resilient
during the last nearly 11
years of U.S. economic ex-
pansion, the longest on
record. Other measures that
the administration could
take include extending job-
less benefits and providing
aid to states.
The current fractious po-litical climate in an election
year could make it difficult
for new fiscal policy actions,
however.
“The good news is that di-
vided government will make
it harder for the president
and Congress to enact un-
needed stimulus, just trying
to get a boost in the economy
today just to get to the elec-
tion,” said Marc Goldwein,
senior vice president for pol-
icy at the nonpartisan Com-
mittee for a Responsible
Federal Budget.
“The flip side is it may
make it harder to pass a
needed stimulus,” he said,
although Goldwein ex-
pressed confidence that
there was increasing biparti-
san consensus to act if the
economy goes into a down-
turn.
Congressional leaders
are working toward a bipar-
tisan deal on as much as $8
billion in emergency co-
ronavirus spending.
The House and Senate
are expected to quickly ap-
prove the legislation, which
includes funding for the De-
partment of Health and Hu-
man Services, which houses
the Centers for Disease Con-
trol and Prevention and the
National Institutes of
Health. It also includes
money to help develop a vac-
cine, for protective and med-
ical equipment, as well as aid
to state and local govern-
ments that have contended
with the virus.
“We’re on the way to get-
ting that through the House
this week and with co-
operation could get it
through the Senate as well,”
Senate Majority Leader
Mitch McConnell (R-Ky.)
told reporters after Vice
President Mike Pence spoke
behind closed doors with
senators of both parties
Tuesday.
The amount Congress isexpected to approve is mul-
tiple times more than what
the administration initially
asked for, although still less
than what some health pol-
icy experts have said was
needed. Democrats have ac-
cused Trump of not moving
quickly enough to respond
to the spread of the virus.
“The most important
thing we can do right now is
pass a strong emergency
supplemental as quickly as
possible, so that our federal
and state and local health of-
ficials have all of the re-
sources they need. This is
truly a serious crisis, and we
cannot respond on the
cheap or at the last minute,”
said Sen. Patty Murray (D-
Wash.), whose state has had
nine coronavirus deaths.
For the Fed, the last time
it made an emergency rate
cut was in late 2008 during
the global financial crisis.
The U.S. economy in
many ways is stronger to
deal with a downturn today.
There’s no housing market
bubble, and consumers,
banks and businesses are
not nearly as leveraged and
vulnerable to a slowdown.
But as Moody’s Sheth
noted, because the Great
Recession was financial and
economic in nature, mone-
tary and fiscal stimulus
went a long way in support-
ing the economy.
The current crisis, she
said, similarly involves glob-
al connections, of people,
supply chains and financial
markets.
“Those linkages are actu-
ally spreading both the virus
and the fear, and the slow-
down in economic activity,”
she said. “And it’s not clear
how you get immunity from
it.”Times staff writer Sarah D.
Wire in Washington
contributed to this report.Fed rate cut designed to stabilize markets
FEDERAL RESERVE Chairman Jerome H. Powell
left open the possibility of more interest rate cuts.Eric BaradatAFP via Getty Images[Rates,from C1]
(Answerstomorrow)
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CAUSE FOR A CHANGE
OF NAME
CASE NO.
20STCP00712
Petitioner or Attorney
(name, state, bar, and
address):
Benjamin Pocholo Blanco
Lacambra
1953 Hillcrest Rd. Los
Angeles, CA 90068
TO ALL PERSONS
INTERESTED:
Petitioner Benjamin
Pocholo Blanco
Lacambra filed a petition
with this court for a
decree changing names
as follows:
Present Name
Benjamin Pocholo BlancoName Change
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SERVICES Lacambra
Proposed Name
Poch Blanco
THE COURT ORDERS
that all persons
interested in this matter
appear before this court
at the hearing indicated
below to show cause,
if any, why the petition
for change of name
should not be granted.
Any person objecting
to the name changes
described above must
file a written objection
that includes the reasons
for the objection at least
two days before the
matter is scheduled to be
heard and must appear
at the hearing to show
cause why the petition
should not be granted.
If no written objection
is timely filed, the court
may grant the petition
without a hearing.
NOTICE OF HEARING
DATE: May 5, 2020
TIME: 10:30AM
DEPT: 44
ROOM: 418
The addressof the court
is: SUPERIOR COURT
OF CALIFORNIA County
of Los Angeles 111 N.
Hill St., Los Angeles, CA
90014 A copy of this
Order to Show Cause
shall be published at
least once each week for
four successive weeks
prior to the date set for
hearing on the petition in
the following newspaper
of general circulation,
printed in this county.
Dated: February 14, 2020
Sherri R. Carter
Executive Officer/Clerk
Published in the
Los Angeles Times
2/26/2020, 3/4/2020,
3/11/2020, 3/18/2020Name Change
SUMMONS
CITACION JUDICIAL
Case Number (Numero del Caso):
19-CV-8165-DSF-AFMNOTICE TO DEFENDANT:
(AVISO AL DEMANDADO):
NikolayEvdokimov&CryptonomicsCapitalYOU ARE BEING SUED BY PLAINTIFF:
(LO ESTA DEMANDANDO EL DEMANDANTE):
Vitaly Anaykin & Konstantin Bondarev
NOTICE!You have been sued. The court may decide
against you without your being heard unless you
respond within 30 days. Read the information below.
You have 30 CALENDAR DAYS after this summons
and legal papers are served on you to file a written
response at this court and have a copy served on the
plaintiff. A letter or phone call will not protect you.
Your written response must be in proper legal form if
you want the court to hear your case. There may be
a court form that you can use for your response. You
can find these court forms and more information at
the California Courts Online Self-Help Center (www.
courtinfo.ca.gov/selfhelp), your county law library, or
the courthouse nearest you. If you cannot pay the fil-
ing fee, ask the court clerk for a fee waiver form. If you
do not file your response on time, you may lose the
case by default, and your wages, money, and property
may be taken without further warning from the court.
There are other legal requirements. You may
want to call an attorney right away. If you do not
know an attorney, you may want to call an attorney
referral service. If you cannot afford an attorney, you
may be eligible for free legal services from a nonprofit
legal services program.You can locate these nonprofit
groups at the California Legal ServicesWeb Site (www.
lawhelpcalifornia.org), the California Courts Online
Self-Help Center (www.courtinfo.ca.gov/selfhelp), or
by contacting your local court or county bar associa-
tion. NOTE: The court has a statutory lien for waived
fees and costs on any settlement or arbitration award
of $10,000 or more in a civil case. The court’s lien must
be paid before the court will dismiss the case.
іAVISO!Lo han demandado. Si no responde
dentro de 30 dias, la corte puede decider en su
contra sin escuchar su version. Lea la informacion a
continuacion.
Tiene 30 DIAS DE CALENDARIO despues de que
le entreguen esta citacion y papeles legales para
presenter una respuesta por escrito en esta corte y
hacer que se entregue una copia al demandante. Una
carta o una llamada telefonica no lo protegen. Su
respuesta por escrito tiene que estar en formato legal
correcto si desea que procesen su caso en la corte. Es
posible que haya un formulario que usted pueda usar
para su respuesta. Puede encontrar estos formularios
de la corte y mas informacion en el Centro de Ayuda
de las Cortes de California (www.sucorte.ca.gov), en
la biblioteca de leyes de su condado o en la corte
que le quede mas cerca. Si no puede pagar la cuota
de presentacion, pida al secretario de la corte que le
de un formulario de exencion de pago de cuotas. Si
no presenta su respuesta a tiempo, puede perder el
caso por incumplimiento y la corte le podra quitar su
sueldo, dinero y bienes sin mas advertencia.The name and address of the court is: (El nombre y
direccion de la corte es):
United States District Court, Central District of
California
350 W. First St.
Los Angeles, California 90012The name, address, and telephone number of
plaintiff’s attorney, or plaintiff without an at-
torney, is: (El nombre, la direccion y el numero
de telefono del abogado del demandante, o del
demandante que no tiene abogado, es):
John Hanusz
350 W. Colorado Blvd., Suite 200
Pasadena, California 91105
213-596-7828Date: (Fecha)March4,2020Kiry Gray Clerk
(Secretario)
Renee Fisher Deputy
(Adjunto)Legal Notices Legal NoticesMoving your business
forward
AdvertiseToday
LA Times Auto Classified
(800) 234-4444
SUMMONS
CITACION JUDICIAL
Case Number (Numero del Caso): BC695602NOTICE TO DEFENDANT:
(AVISO AL DEMANDADO):
CALIFORNIA DELTA OF PHI KAPPA PSI FRATERNITYYOU ARE BEING SUED BY PLAINTIFF:
(LO ESTA DEMANDANDO EL DEMANDANTE):
KATHERINE PASICHUKENOTICE!You have been sued. The court may decide
against you without your being heard unless you
respond within 30 days. Read the information below.
You have 30 CALENDAR DAYS after this summons
and legal papers are served on you to file a written
response at this court and have a copy served on the
plaintiff. A letter or phone call will not protect you.
Your written response must be in proper legal form if
you want the court to hear your case. There may be
a court form that you can use for your response. You
can find these court forms and more information at
the California Courts Online Self-Help Center (www.
courtinfo.ca.gov/selfhelp), your county law library, or
the courthouse nearest you. If you cannot pay the fil-
ing fee, ask the court clerk for a fee waiver form. If you
do not file your response on time, you may lose the
case by default, and your wages, money, and property
may be taken without further warning from the court.
There are other legal requirements. You may
want to call an attorney right away. If you do not
know an attorney, you may want to call an attorney
referral service. If you cannot afford an attorney, you
may be eligible for free legal services from a nonprofit
legal services program.You can locate these nonprofit
groups at the California Legal ServicesWeb Site (www.
lawhelpcalifornia.org), the California Courts Online
Self-Help Center (www.courtinfo.ca.gov/selfhelp), or
by contacting your local court or county bar associa-
tion. NOTE: The court has a statutory lien for waived
fees and costs on any settlement or arbitration award
of $10,000 or more in a civil case. The court’s lien must
be paid before the court will dismiss the case.
іAVISO!Lo han demandado. Si no responde
dentro de 30 dias, la corte puede decider en su
contra sin escuchar su version. Lea la informacion a
continuacion.
Tiene 30 DIAS DE CALENDARIO despues de que
le entreguen esta citacion y papeles legales para
presenter una respuesta por escrito en esta corte y
hacer que se entregue una copia al demandante. Una
carta o una llamada telefonica no lo protegen. Su
respuesta por escrito tiene que estar en formato legal
correcto si desea que procesen su caso en la corte. Es
posible que haya un formulario que usted pueda usar
para su respuesta. Puede encontrar estos formularios
de la corte y mas informacion en el Centro de Ayuda
de las Cortes de California (www.sucorte.ca.gov), en
la biblioteca de leyes de su condado o en la corte
que le quede mas cerca. Si no puede pagar la cuota
de presentacion, pida al secretario de la corte que le
de un formulario de exencion de pago de cuotas. Si
no presenta su respuesta a tiempo, puede perder el
caso por incumplimiento y la corte le podra quitar su
sueldo, dinero y bienes sin mas advertencia.The name and address of the court is: (El nombre y
direccion de la corte es):
LOS ANGELES COUNTY SUPERIOR COURT
312 NORTH SPRING STREET
LOS ANGELES, CALIFORNIA 90012The name, address, and telephone number of
plaintiff’s attorney, or plaintiff without an at-
torney, is: (El nombre, la direccion y el numero
de telefono del abogado del demandante, o del
demandante que no tiene abogado, es):
NICK CASPER
2121 NO. CALIFORNIA BLVD., SUITE 1020
WALNUT CREEK, CA 94596
(925) 947-1147Date: (Fecha)FEB 23 2018SHERRI R. CARTER Clerk
(Secretario)
SHAUNYA BOLDEN Deputy
(Adjunto)Legal Notices Legal Notices