Coronavirus live updates: Fed's Bullard calls shutdown 'massive investment in public health'

It was one in a series of grim messages from airline chiefs and labor unions this week about the abrupt collapse in bookings that coronavirus caused and the potential toll on workers. "Unless worker payroll protection grants are passed immediately, many of us will be forced to take draconian measures such as furloughs."

That is the view of St. Louis Federal Reserve President James Bullard, who argues that a potential $2.5 trillion hit coming to the economy is both necessary and manageable if officials move fast and keep it simple. It may seem an unconventional view in a moment of global anxiety, but Bullard argues the shutdown measures now being rolled out are essential to shortening the course of the pandemic.

Spain's death toll rose to 1,720 from a previous count of 1,326 on Sunday, according to multiple media reports citing the most recent health data, which also reported cases at 28,572 from a previous tally of 24,926. Spain is currently under nationwide lockdown.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here are all the countries that are tracking citizens' phones because of the coronavirus - Business Insider10 countries are now tracking phone data as the coronavirus pandemic heralds a massive increase in surveillance Any excuse will do, really. HonkHase special situations require special measures
Source: BusinessInsider - 🏆 729. / 51 Read more »