U.S. economy hit hard by new crown outbreak, Trump hints at stimulus plan

Just hours after one of the worst stock market deals in the U.S., President Trump and members of the New Coronavirus Task Force took to the podium at the White House press conference and unveiled an economic stimulus plan to stabilize volatile markets,media reported. In a brief statement to the press corps, Mr. Trump hinted that the government could cut payroll taxes and provide emergency support to businesses to ensure that hourly workers are not affected by unemployment and lost wages.

U.S. economy hit hard by new crown outbreak, Trump hints at stimulus plan

Mr. Trump also plans to talk to representatives of the Small Business Administration, which will create potential loans for small businesses affected by federal, state and local government responses.

“It’s about providing the right tools and liquidity to get through the next few months,” Treasury Secretary Steven Mnuchin said at a news conference.

Mr. Trump left the podium, but he did not answer a reporter’s question about whether he had been tested for the new coronavirus. Earlier today it was reported that several MPs who had met the president may have come into contact with people infected with the virus at a gathering of Tory leaders across the country last week.

Vice President Mike Pence then outlined the administration’s latest response to the spread of the new coronavirus, stressing that the risk of contracting the disease for most Americans remains very low.

At the same time, the U.S. private healthcare industry is working overtime to develop vaccines, treatments and diagnostic testing tools to support ongoing work in national laboratories.

U.S. economy hit hard by new crown outbreak, Trump hints at stimulus plan

However, some epidemiologists argue that the United States is still unprepared for the severity of the spread of the disease, and that even a good situation means that millions of Americans will become ill and need some kind of counseling or care.