Many states across the US have been eagerly lifting restrictions and lockdown measures in a move to bolster the recovery process for the economy. However, with the coronavirus pandemic being very far from any sort of eradication in the country, such optimism only leads to more problems.
According to the latest data released by Johns Hopkins University, the number of coronavirus cases in the US have soared past 6 million as of Monday, while the number of deaths have reached above 183,000. Recall however, that the US reached the 5 million mark in just the beginning of August, so the addition of another 1 million cases in such a short time span is alarming to say the least.
According to World Health Organization director general Tedros Adhanom Ghebreyesus, the reopening of states amidst a lack of proper viral control measures is only going to lead to an even bigger disaster. Since the onset of the pandemic back in March, the US has become one of the worst-hit countries – even statistically surpassing China, which was the epicentre of the pandemic.
However, despite the ever-increasing coronavirus cases across the country, the US federal government is adamant that the pandemic crisis has subsided, and urged Americans to return to work. Although such wishful thinking would certainly pave the way for the already-stalled economic recovery, it appears that some US states do not share such optimistic sentiment. In fact, New York City Mayor Bill de Blasio stated that indoor dining at restaurants will remain closed until June 1, 2021, suggesting that until an adequate vaccine in present, life back to normal is not on the menu for the time being.
Information for this briefing was found via Johns Hopkins University. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.