Good evening,
Please find today's daily COVID-19 Update for March 27th. Please let me know if you have any questions.
Jeff Cohen
INFORMS Members In The News
U.S. Federal Policy Update
- The $2.2 trillion stimulus package was officially signed into law by President Trump at a signing ceremony at 4 PM this afternoon. This came after the measure passed the House by a voice vote earlier in the afternoon. This legislation includes $500 billion in assistance for distressed companies, $350 billion in loans for small businesses, $150 billion for state and local governments, $1,200 for low- and middle-income American workers, and more.
- President Trump officially invoked the Defense Production Act today, in order to mandate that General Motors produce a greater quantity of respirators. The statement from the White House acknowledged that while negotiations "have been productive," the "fight against the virus is too urgent" and "GM was wasting time."
- FEMA led another call this afternoon for stakeholders regarding their agency response effort. FEMA's National Business Emergency Operations Center Director Rob Glenn stated that all 50 states are now working with FEMA for their emergency response efforts, especially with respect to stabilizing their supply chains and mitigating healthcare risks.
- The White House Coronavirus Task Force convened a press briefing this evening. During the briefing, President Trump announced that White House Trade Adviser Peter Navarro will serve as the national Defense Production Act policy coordinator. President Trump also stated that the administration is working on "the next phase in an all-out war against this virus," which is expected to be unveiled next week.
- Representative Joe Cunningham (R-SC) announced that he has tested positive for coronavirus. This makes him the fourth member of Congress that has tested positive, with the other three being: Representatives Mario Diaz-Balart (R-FL) and Ben McAdams (D-UT), as well as Senator Rand Paul (R-KY).
Global Response
- President Trump tweeted late last night that he spoke by phone to Chinese President Xi Jinping, and that they "are working closely together." He also acknowledged that China "has developed a strong understanding of the virus."
- British Prime Minister Boris Johnson announce today that he has tested positive for coronavirus, but "will continue to lead the government's response via video-conference as [they] fight this virus."
- France has extended their current country-wide lockdown until April 15th.
- Hong Kong leader Carrie Lam announced today that they would be implementing a ban on public gatherings of more than four people, and also that several public-facing businesses would be closed. This will be in place effective on Saturday, and will last through the following two weeks.
- The Afghan government announced that they are placing their capital of Kabul on lockdown starting at 6 AM on Saturday, for a period of three weeks.
- Sweden announced today that they would be banning public gatherings of more than 50 people. Sweden's response has been less strict as compared to the rest of Europe, as they are not requiring people to stay home nor are they mandating that restaurants and bars close.
State Update
- President Trump sent a letter to all governors yesterday that his "administration is working to publish new guidelines for state and local policymakers to use" for their individual mitigation strategies.
- Florida Governor Ron DeSantis announced at a news briefing today that the state would now require travelers from Louisiana to self-isolate for 14 days upon arrival. This is in addition to an already-existing mandate for travelers from New York, New Jersey, and Connecticut to isolate.
- South Carolina Governor Henry McMaster issued an executive order this afternoon mandating that any out-of-state visitors entering South Carolina must complete a 14-day self-quarantine.
Economic Impact (as of close of the markets)
- U.S. stocks fell today, after making significant gains these past few days. The Dow Jones Industrial Average fell by 4.1%, the S&P by 3.4%, and the Nasdaq Composite by 3.8%.
- However, despite declines today, stock indices still reported overall gains this week. Specifically reporting a high gain was the Dow Jones Industrial Average, which rose by approximately 13% over the course of the week.
Latest Numbers
- In the United States: Over 99,706 cases and 1,554 deaths in 50 states, 3 territories, and Washington, D.C.
- Worldwide: Over 575,800 cases and 26,638 deaths in at least 171 countries.
In the News (3/27/20)
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Jeffrey M. Cohen, MBA
Director, Public Affairs & Marketing
INFORMS
jeff.cohen@informs.org------------------------------