Donald Trump announces plan to reopen economy; small biz stimulus fund goes bust; optimism from New York

Donald Trump
Donald Trump

President Trump released a set of guidelines titled “Opening Up America Again”, which lays down rules on easing up on the lockdown after concerns arise on the worst economic slowdown ever since the great depression. 

5 million fresh unemployment claims were registered in the Labour Department as of last Thursday. The US stands among the worst-hit countries by the COVID-19 pandemic with over 670,000 infections and around 33,000 deaths across the nation according to a study by John Hopkins University. 

Coronavirus related deaths reached a daily high in the country last Wednesday with over 2,500 cases. 

The pandemic continues to be a serious concern as it claims over 144,000 lives and 2.1 million infections worldwide. Concerns grow graver as it disrupts the global economy. With over 22 million Americans losing their jobs in the last past weeks, economists claim darker times ahead by predicting the unemployment level to spike 16 percent by July.