The daily coronavirus death toll in the United States has increased this week after months of decline. More than 4,200 deaths were recorded nationally, with several states jumping exponentially. On…
Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, while discussing an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus"poses evolving risks to economic activity.
First and foremost, Congress faces a stark choice, as the estimated 30 million workers without a job are about to lose the $600 in federal unemployment that was added to state figures. The federal funds are scheduled to expire by the end of the month. The LAUSD teachers union is already on record as saying it’s not possible for a return to campuses anytime soon.
Also under fire are sports and entertainment. College and professional teams are trying to mount abbreviated schedules, but are faced with revenue shortfalls, balking athletes, and arduous safety measures that could halt seasons at any point. Training camps will provide a litmus test as to whether those leagues and their ancillary jobs will be a part of a return to normal.
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