INFORMS Open Forum

3-25 Daily COVID-19 Update

  • 1.  3-25 Daily COVID-19 Update

    Posted 6 days ago
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    Good Evening,

    Please find below and attached today's daily COVID-19 Update for March 25th. Please let me know if you have any questions.

    Thanks,

    Jeff


    INFORMS Members In The News

     

    U.S. Federal Policy Update

    • The Senate began the day with a deal having been reached on the highly-anticipated $2 trillion stimulus package for coronavirus response. The package – which represents a consensus between Senate Majority Leader Mitch McConnell (R-KY), Minority Leader Chuck Schumer (D-NY), and Treasury Secretary Steven Mnuchin – was set to pass this afternoon with bipartisan support. However, tensions emerged this afternoon, when Republican Senators Lindsey Graham (SC), Tim Scott (SC), and Ben Sasse (NE) jointly stated that they would oppose fast-tracking of the legislation unless a section on unemployment insurance was fixed. Senator Rick Scott (R-FL) also joined a press conference today in opposition of the unemployment section.
    • Senators Graham, Scott, and Sasse have stated that unemployment benefits should be capped at the full salary prior to the crisis. In response, Senator Bernie Sanders (I-VT) tweeted that he would place a hold on the legislation "to impose strong conditions on the $500 billion corporate welfare fund." Though the legislation is still anticipated to pass, it remains to be seen what the exact timing will be.
    • House Majority Leader Steny Hoyer has remained resolute that after receiving the stimulus legislation from the Senate, there will be at least a 24-hour period prior to the House voting on the floor. Majority Leader Hoyer wrote in a letter that it is important that members "have the final legislative text and clear direction on when the Senate will vote."
    • The White House Coronavirus Task Force convened a press briefing at 5:00 PM EST this evening. At the briefing, President Trump reassured the press that he believes Republicans and Democrats are "very close to passing the emergency relief bill." Additionally, while Treasury Secretary Steven Mnuchin wouldn't comment on the aforementioned Republican opposition due to the unemployment insurance section, he also affirmed that his expectation remains that the legislation will pass tonight, and that the House will pass it tomorrow.

     

    Global Response

    • The United Nations released the details of a $2 billion humanitarian appeal for combatting the coronavirus pandemic. The funding will be given to poverty-stricken countries, predominantly in Africa, South America, the Middle East, and Asia.
    • The South Korean government announced today that the country would send any spare medical equipment they have to help with the U.S.'s coronavirus response.
    • Although Iranian President Hassan Rouhani applauded his citizens today for significantly reducing their travel, he stated that the Iranian government would still be announcing more restrictions tomorrow – which could possibly include a ban on all travel.
    • Saudi Arabia announced a ban on all interstate travel, and also a decree that no one is allowed to enter or leave Riyadh, Mecca, or Medina. This will become effective tomorrow.
    • The Canadian government announced this afternoon that the country would mandate travelers returning to Canada complete a 14-day self-quarantine. This will become effective at midnight tonight, but will not apply to "essential workers."
    • Saudi Arabian King Salman Bin Abdulaziz Al Saud announced today that G20 member countries will convene for a virtual "Leaders' Summit" tomorrow. Leaders from member countries will focus their attention on a coordinated coronavirus response.

     

    State Update

    • As of today, President Trump has approved disaster declarations for New York, California, Washington, Iowa, Texas, Louisiana, and Florida.
    • Minnesota Governor Tim Walz announced a "stay-at-home" directive today that will take effect on Friday at 11:59 PM. The directive excludes essential workers, and will apply for a minimum of two weeks. Minnesota's bars, restaurants, and other public accommodations have to stay closed until May 1st.  
    • Idaho also issued a stay-at-home order today, which will remain in place for the next 21 days.
    • Utah Governor Gary Herbert unveiled a "Utah Leads Together" economic response plan.
    • Texas Governor Greg Abbott has signaled that he may examine stricter standards for the state, stating at a press conference that he plans to "continue to evaluate, based upon all the data, whether or not there needs to be heightened standards and stricter enforcement."

     

    Economic Impact (as of close of the markets)

    • Stocks seemed to continue to be on the rise today, but ended up losing much of their gains in the final 15 minutes of the markets being open. The day finished with the Dow Jones Industrial Average up by 2.4% and the S&P 500 up by 1.2%, while the Nasdaq Composite ended up down by 0.5%.
    • Much of this occurred due to remaining concerns as to whether or not lawmakers will pass the aforementioned $2 trillion stimulus package.

     

    Latest Numbers

    • In the United States: Over 59,502 cases and 804 deaths in 50 states, 3 territories, and Washington, D.C.
    • Worldwide: Over 438,100 cases and 19,641 deaths in at least 168 countries.

     

    Other News (3/25/20)



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    Jeffrey M. Cohen, MBA
    Director, Public Affairs & Marketing
    INFORMS
    jeff.cohen@informs.org
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