New Covid Task Force Threatens to Constrict U.S. Financial Markets | Gold IRA Guide
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New Covid Task Force Threatens to Constrict U.S. Financial Markets

New Covid Task Force Threatens to Constrict U.S. Financial Markets

Photo appears courtesy of Marketplace.org.

This past week saw the conclusion of the hardest fought and most controversial election in modern U.S. history as President elect Joe Biden narrowly defeated U.S. incumbent President Donald Trump after a bitter, divisive, and hard fought electoral campaign. The successful candidate President elect Joe Biden wasted no time in announcing that he will appoint a new coronavirus task force on Monday. It made the priorities of the new administration clear right from the start. A recent take on the official John Hopkins coronavirus data revealed that the typical daily new numbers of cases of the virus are increasing in 47 states plus the District of Columbia by five percent or more.

New Coronavirus Task Force Appointed on Monday

The first action from new President-elect Joseph Biden was his announcing of a new appointment of the new coronavirus task force members. These individuals will receive the important task of coming up with a plan to halt the rapid spread of Covid-19 as it touches all-time high highs in the United States. Per Axios' announcement, a campaign official for Joe Biden, this new task force will be co-led by David Kessler a prior Food and Drug Administration Commissioner, Vivek Murthy a previous Surgeon General, and by Yale University's Dr. Marcella Nunez-Smith.

During his first speech as the new president-elect, Joe Biden revealed that he will inaugurate his new pandemic response plan by announcing “a group of leading scientists and experts as transition advisors.”

“Our work begins with getting Covid under control. That plan will be built on a bedrock of science. It will be constructed out of compassion, empathy, and concern. I will spare no effort – or commitment- to turn this pandemic around.”

Pandemic Response May Be Case of Too Little, Too Late

The president-elect has made it a high priority to appoint people to head up his pandemic response team ahead of naming any cabinet appointments or even White House senior staff. This proves what an important issue the response to the coronavirus is for Joe Biden. The United States recently announced its third day in a row spike in the daily total of new Covid-19 cases per the Johns Hopkins University data. This graph below shows the total numbers of cases and where they are primarily geographically spread around the country:

Graphic appears courtesy of the New York Times

Worst of the Coronavirus Pandemic in the U.S. Could Be Still To Come

Until hopeful news emerged from one of the Operation Warp Speed participating Big Pharma companies Pfizer, the immediately deteriorating situation of national coronavirus cases had 47 different states where the average numbers of daily new Covid-19 incidents had risen by at least five percent. According to the warnings of Biden's new task force member Dr. Wen:

“His work needs to begin right now. He needs to begin communicating the urgency of actions with the American people. His biggest challenge is going to be getting people to follow his recommendations. He can have the best policies and even the best way to implement his policies, but unless he can win the hearts and minds of the American people, it's not going to make a difference.”

Public Health Professor Dr. Wen warned that without a game changing scenario, the U.S. can honestly expect to see more than half a million deaths from coronavirus. Dr. Wen cautioned everyone that:

“It's going to get much worse this winter. We are surging all across the country. There are firestorms of Covid-19 that we're seeing in virtually every part of the country, and it is getting worse by the day.”

Emergency Physician Dr. Megan Ranmey from Brown University concurred with Wen's perspective on the upcoming months by stating that:

“The worst days of the pandemic are almost certainly still ahead of us. The virus is now spread across the entire United States. When the first surge came, it was locallized to the Northeast in New England, New York, New Jersey. In the second wave it was the South and the Southwest. But now we're seeing it literally takeover hospitals across the country.”

Months Likely To Pass Before Biden Coronavirus Taskforce Ramps Up to Full Speed

The new coronavirus task force plans to be up and operational on the first day that the new president elect Joe Biden takes office. Ranney stated that:

“But the trouble is, even with hitting the ground running on day one, it's going to take two months to manufacture adequate PPE. Even if on day one I'm going to create a mask mandate, it's going to take a while to disseminate that and to get the messaging out.”

New U.S. FDA Vaccine Approval from Pharmaceutical Giant Pfizer Gives Hope of Situation Improving At Some Point In the Future

A major breakthrough in the battle against coronavirus did occur this past week with the announcement from Pfizer and its research and development partner BioNTech on Monday. They revealed that their new Covid-19 vaccine is over 90 percent effective at stopping coronavirus in cases of individuals who do not have a previous infection. The Pfizer spokespeople called the breakthrough a “great day for science and humanity.” Chairman and CEO Dr. Albert Bourla of Pfizer explained on Squawk Box to CNBC and Meg Tirrell that:

“I think we can see light at the end of the tunnel. I believe this is likely the most significant medical advance in the last 100 years, if you count the impact this will have in public health, global economy.”

This potentially game changing revelation emerged as the research labs and pharmaceutical companies worked tirelessly in their efforts to come up with an efficient and safe to use vaccine that can halt the advance of the Covid-19 pandemic that continues to ravage both the globe and nation. Over 1.2 million individuals have died from the virus around the globe so far with still more people admitted into hospitals by the day.

American and international scientists were searching for a vaccine to the coronavirus that would yield results of minimally 75 percent in efficacy. The coronavirus advisor to the White House Dr. Anthony Fauci has gone on record as claiming that even a vaccine with a 50 to 60 percent success rate would work in combating the spread of the relentless disease around the nation and world.

Wild Volatility Swings In Markets Could Be Here To Stay For The Present

No one can say with any certainty how long it will take for the wild volatility swings in U.S. and international financial markets to stabilize. Continuing and elevated wild moves up and down in U.S. and global financial markets do help to explain why gold makes sense in an IRA. The timely arrival of a proven and working vaccine could be the game changer that has been so desperately needed to save investment and retirement accounts and assets.

You can not control the government policies and wild price swings in markets relating to the coronavirus news and events. One way to help protect your retirement assets is through considering diversification with IRA-approved precious metals. It is always a good idea to consider the Top Five Gold Coins for Investors and the top international gold IRA storage options while you are reviewing the list of the Top Gold IRA companies.

David Crowder

David Crowder

W.D. Crowder is an American published author. His background and areas of expertise include history, economics, expatriate living, international relations, investments and personal finance. A widely read and top of his class graduate of Stetson University, he obtained his bachelor of arts degree in History with minors in Latin American Studies and International Relations and a special emphasis in Economics. He was President of his Phi Alpha Theta (National History Honors Fraternity) Stetson University chapter and a Phi Beta Kappa (National Honors Fraternity) member.

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