WASHINGTON, D.C. (WTVO/AP) — President Trump and health officials will give an update on the federal government’s response to the coronavirus update at approximately 4:30 p.m. CDT.
President Trump put it bluntly: “WE CANNOT LET THE CURE BE WORSE THAN THE PROBLEM ITSELF.”
Trump, who tweeted his declaration overnight, is caught in the middle as tensions are rising between those who argue the country needs to get back up and running to prevent a deep depression, and medical experts who warn that, unless more extreme action is taken, the human cost will be catastrophic.
Health experts have made clear that unless Americans continue to dramatically limit social interaction — staying home from work and isolating themselves — the number of infections will overwhelm the health care system, as it has in parts of Italy, leading to many more deaths. While the worst outbreaks are concentrated in certain parts of the country, such as New York, experts warn that the highly infectious disease is certain to spread.
But with the economic impact now snapping into focus with millions out of work, businesses shuttered and the markets in free fall — all undermining Trump’s reelection message — the chorus of backlash is growing louder.
Stocks fell about 3% on Wall Street after Congress hit another roadblock in talks to inject nearly $2 trillion into the economy.
Even an extraordinary flood of support from the Federal Reserve Monday wasn’t enough to lift stocks, as frustration with Washington and the number of coronavirus cases rise.
The plan on Capitol Hill would send checks to U.S. households and offer support for small businesses and the hard-hit travel industry, among other things, but Democrats say it too heavily favors corporations at the expense of public health and workers.
Markets are likely to remain volatile as long as the coronavirus outbreak accelerates.