Coronavirus: Slowing The Spread
Over the weekend, the Centers for Disease Control and Prevention released new recommendations to skip gatherings of 50 people or more for the next eight weeks.
And after viral images of people lining up at bars and restaurants proliferated over social media, several states and cities around the country are now restricting these locations to takeout or delivery options only.
As stocks tumbled in Europe, the Federal Reserve cut interest rates to nearly zero in an attempt to bolster the economy.
In cutting its key interest to zero, the Fed has practically lost a major policy tool — one that it would need if the economy tumbles into recession. But the Fed said its policymaking committee “will continue to closely monitor market conditions and is prepared to adjust its plans as appropriate.”
Low rates make borrowing cheap, but they don’t necessarily get businesses to increase workers’ hours or get people shopping at a time when government officials are asking bars and restaurants to shut down and telling workers to stay home to stall the spread of the virus.
We have Politico’s Dan Diamond with us to bring us the latest updates on how Congress, the White House and beyond are responding to the crisis.
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