US president has declared a national emergency over the coronavirus pandemic as the number of cases raises across the country Donald Trump described subsequent eight weeks as critical to fighting the respiratory illness he said half a million coronavirus tests are going to be available as early as next week and urged every state to line up emergency centers to treat patients.
DONALD TRUMP SAID:
(PRESIDENT OF THE UNITED STATES)
To unleash the complete power of the federal government during this effort today I’m officially declaring a national emergency two very big words the action I am taking will open up access to up to fifty billion dollars of very importantly vital and an outsized amount of cash for states and territories and localities and our shared fight against this disease in furtherance of the order emerging every state to line up emergency operation centers effective immediately I’m also asking every hospital during this country to activate its emergency preparedness plan so that they will meet the requirements of Americans everywhere.
So what does this practically mean now on the bottom and for Americans Kimberly?
well what it means is that there is getting to be tons more money now to blunt the outbreak here within the us we now have more than 1,900 cases of corona virus in at least 46 states with a minimum of 41 deaths so there’s a true interest of public health officials who spoke within the Rose Garden alongside the US president to try and combat this outbreak then they’re doing it during a number of the way not only by declaring a national emergency which frees up tens of billions for the federal government to coordinate with the state and native governments but also we saw the president surrounded by a number of key industry officials from the private sector and what the president has done has quite taken his transactional approach to government which we have seen within the past and this is often no exception in bringing in industry leaders from from private companies like Google for instance even Walmart setting up an internet site in order that Americans can easily on a smartphone access whether or not a they have a test and B if they are doing where to urge it fixing in parking lots round the us different areas where people can go and obtain this test during a very American style in their cars they’ll be drive through type swabbing which will be happening so this is something that the president is saying will happen by the top of this weekend the in terms of the web site being found out with the tasks some five hundred thousand of them by the center of the week now he also said that there could also be up to 5 million tests ultimately available saying and dismissing don’t think we’ll need that a lot of that would be something that could by the president afterward but for now he’s continuing to require an optimistic and upbeat tone. specifically thereon tone Kimberly what do we make of that because
The president has faced criticism from some people saying that he’s been slow and ineffective in his response to the crisis thus far?
There is no question about it actually and that I don’t need to sort of get before my colleague Kristen salumi I do know you we talked to you with the financial markets but certainly was a key factor that led to a lot of hysteria during this country all across the board the very fact that there seemed to be this sense that the president may are even be suppressing the availability of tasks through his government so as to artificially keep numbers down of the outbreak in terms of coronavirus here within us now he was asked which garden press conference does one take responsibility for that fact he said just the other and do not take responsibility for the lag in testing, in fact, he tried responsible the previous administration under.
Barack Obama saying it was an outdated system not equipped for this sort of an epidemic they’ve quickly adapted the system getting rid of tons of regulations allowing private labs to be involved in coordination with the federal in order to undertake and combat this moving forward saying they’ll be found out for success within the future I feel it’s a message that a minimum of for now until the Americans see whether or not it actually works I feel many will find reassuring.
you heard Kimberly mentioning markets a flash ago and they did rally during President Trump’s announcement the Dow Jones Industrial Average closed up 9.3% after trading around three percent up for many of the day Thursday saw the best losses since the Black Monday crash of 1987 in London the footsie 100 initially surged 8% but gains subsided and afternoon trading to shut just two point four percent up it’s tough it’s a biggest weekly loss in additional than 30 years and in Asia markets plunged and warning trade but managed to call back initial losses in Hong Kong the Hang Seng Index closed down 1.1 percent
How did the markets react to what President Trump had to Says?
it had been really interesting during this news conference was timed shortly before the markets closed less than an hour before markets closed. President Trump made his remarks pushing all three of the main stock indices up over 9% regaining most of what they lost on Thursday. i feel there have been a few things that the president did and said that investors found particularly reassuring the primary was talking about increasing testing capacity within the United States that was an enormous concern across the board and during this country and with investors especially and he did this surrounded by not only health officials but corporate CEOs representing companies like Walmart in Google and Walgreens talking about what was being done to extend testing capacity and showing that companies are going to be a part of that solution I think that’s something that investors in particular will find very reassuring he also announced that the Energy Department would be buying up strategic would be buying up oil to refill the strategic oil reserves for the country that was also something that the markets found very reassuring oil prices which had been plummeting went up a touch today energy stocks which also had been suffering as a results of lower demand and a price competition between the Russians and the Saudis they went up today also so there was excellent news there for investors sharp contrast to earlier within the week when the president addressed the state and announced a travel ban restricted travel from Europe to the us that sent the markets tumbling also he announced that there would be a relief package but it had been very vague not tons of details they didn’t find that reassuring in the least therefore the president took a more and a selected tone and his remarks today surrounding himself with all of those professionals and has appeared to work you recognize it’s still not clear whether or not Congress and therefore the White House are going to be ready to get together and what they go to try to to in terms of a relief package intrinsically what is going to be passed except for now definitely calming fears the volatility index for the markets which shows just how jittery investors are has been sky-high within the last week and it’s down at the close of the markets today down 25% so that’s a symbol that a minimum of for now investors are breathing a sigh of relief.