Why the Defense Production Act probably can’t solve the U.S.’s protective gear shortage

President Trump has faced widespread pressure to invoke the Defense Production Act and compel companies to manufacturer more protective gear for health care workers as they combat the novel COVID-19 coronavirus. The White House has used it in some circumstances, including forcing auto giant General Motors to produce ventilators, but even if the measures were […]

Read More

The federal government waited until mid-March to bulk-order coronavirus supplies, AP reports

U.S. officials and intelligence agencies started warning the White House in mid-January that the coronavirus outbreak in China could spread through the U.S. and around the world, but “the Trump administration squandered nearly two months that could have been used to bolster the federal stockpile of critically needed medical supplies and equipment,” The Associated Press […]

Read More

U.S. output decline over last 3 weeks akin to Indiana disappearing for a year, economist says

Economic-analysis firm Moody’s Analytics took a look at every county in the United States to estimate how the novel COVID-19 coronavirus pandemic have affected economic output. The results weren’t pretty. Government-ordered shutdowns of non-essential businesses have led to daily output declines in most counties, whether it be large ones like Los Angeles County or smaller […]

Read More

Mortgage markets teeter without aid

Here are three of the week’s top pieces of financial insight, gathered from around the web: Some insurers eliminate cost sharing Cigna and Humana joined Aetna this week in pledging to cover all out-of-pocket costs related to treatment for coronavirus, said Bertha Coombs at CNBC. That includes hospitalizations, ambulance services, in-network and out-of-network services, and […]

Read More