Even the buzzing heart of Manhattan has now gone quiet, all nonessential businesses must stay closed, and their workers must remain at home. It is part of a stringent set of rules coming into forests as New York scrambles to contain its surge of current virus infections.
Pressure from State Governors
Under pressure from state Governors, President Donald Trump has no pledged to send help to the state’s worst affected by the outbreak including New York Trump quoted “In addition a lot Large quantities of supplies I’ve also directed FEMA to supply the following: four large federal medical stations with 1000 beds for New York .eight large federal medical stations with 2000 beds for California, and three large federal medical stations and four small federal medical stations with 1000 beds for the state of Washington.”
US economy
The US economy is also reeling from the virus on Sunday the US Senate was expected but failed to reach a go ahead for a trillion-dollar economic rescue package aimed at helping businesses and regular Americans. Democrats dismissed the bill saying he was tilted toward helping large corporations. On the Senate floor, Senator Schumer said:” legislation Has many problems, at the top of the list it includes a large corporate bailout with no protections for workers and virtually no oversight .also very troubling in the bill or significant shortfalls of money that our hospital state cities and medical workers desperately needed, this is a public health crisis it is inexplicable to skimp on funding to address the pandemic .”
Senate Set to Vote
With the Senate set to vote on the emergency bill again on Monday, authorities in New York urged the peak of the contagion is yet to come and warn of stricter measures if citizens failed to comply.
Emergency Aid Bill
US Senate has failed to pass an emergency aid bill putting markets around the world on edge shares in Shanghai and Hong Kong last round 4% each. Markets in Singapore are currently down 8% while India’s main index collapsed, losing over 12%, and Frankfurt the market opened with heavy losses to the German DAX index down by almost 5%.
Rescue Package for The US Economy
The US Senate is not yet signed off on its rescue package for the US economy. Disappointment and we’re seeing that reflected not just in US docs, but here in Europe as well you mentioned this big slide in the DAX and Masters had hoped that this would fly through Congress quite quickly, but that remains quite divided Republicans and Democrats can’t seem to find common ground on this Democrats think this is much too focused on giving liquidity and help to big businesses. They want more focus on helping workers.
Another Vote Today
The question now is of course how quick they can agree. the Republicans and said they want to have another vote today Democrats so that they could propose their bill which would wait then the amount of time this could take to pass and at the same time people are losing their jobs businesses are facing bankruptcy and the health care sector in the United States is increasingly over strange so economists investors are just saying that every day counts every moment counts. They cannot afford to lose more time on this.
The Aviation Industry
The aviation industry has been hit particularly hard. The CEO of Lufthansa last week summed it up when he said the industry cannot survive without help right now. Lufthansa, for example, has had to cut about 95% of its capacity. That Business move is being shared across many other airlines. They have seen a little bit of a bright spot because many are using these planes too. They can use their empty planes now to ship cargo and things like medical supplies, but they are going to need Government support, and I think we’re going to see more on that coming forward.