Federal Reserve unveils details of $2.3T in programs to help support economy
The Federal Reserve released details on its Main Street business lending program and other initiatives to help the U.S. economy. The loans would be aimed toward businesses with up to 10,000 employees and less than $2.5 billion in revenues for 2019. Principal and interest payments will be deferred for a year. The programs would total up to $2.3 trillion and include the Payroll Protection Program and other measures aimed at small businesses. Read more.
U.S. weekly jobless claims hit 6.6M for week ending April 4
The U.S. Department of Labor reported Thursday that 6.6 million Americans filed for unemployment insurance in the week that ended April 4, bringing the three-week total to approximately 16.8 million unemployment filings, a record. Layoffs first spiked after the country moved to strict social distancing guidelines, banning non-essential businesses and sending workers and students home. More workers now qualify for government help, implemented by the relief efforts in response to the sudden economic hit. Read more.
Most deaths in New York had underlying illnesses; 61% were men
The majority of New York’s over 4,700 deaths to coronavirus were among men and 86% of all deaths were among people who had underlying illnesses, like hypertension and diabetes. New York released this data this week. Of New York’s deaths:
- 61% were men
- 63% were 70 years old or older
- 55% had hypertension
- 37% had diabetes
- Other top illnesses found were hyperlipidemia, coronary artery disease, renal disease and dementia.
Coronavirus predictions are changing
The U.S. death toll crossed 14,000 Wednesday and about 425,000 cases have been diagnosed in the U.S. since the outbreak started. However, the main model used by the White House and many others updated Wednesday to show far fewer projected U.S. deaths from COVID-19, down to 60,415 people by August from the 82,000 the model showed on Tuesday. The model assumes social distancing measures, including the closure of schools and businesses, will remain in place until August. CNN asked Dr. Gregory Roth, one of the senior faculty at the University of Washington’s Institute for Health Metrics and Evaluation (IHME) about its new modeling. Read more.
Health experts warn warmer months won’t bring end to coronavirus
Members of a National Academy of Sciences committee said in a letter to the White House this week that the data is mixed on if the virus spreads less easily in the heat, but that may not matter much given the lack of immunity. Officials are developing a framework for what the new normal could look like. “I think what we’re going to have embedded and imprinted in us forever is the realization that something as catastrophic as what the world is experiencing now can happen,” said Dr. Anthony Fauci, the head of the National Institute of Allergy and Infectious Diseases. The handshake, for example, may need to become a thing of the past, according to Dr. Fauci. Read more.