White House officials looking for way to 'open' economy without health catastrophe - CNN | Canada News Media
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White House officials looking for way to 'open' economy without health catastrophe – CNN

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Such a step would pose dramatic risks, health experts warn, since Americans who have contracted coronavirus could spread it even if they’re not showing symptoms. Returning to crowded gatherings or bustling offices would drastically increase the spread.
Business leaders and some conservatives have countered that a virtual showdown of the American economy is causing its own kind of dramatic damage as millions of Americans lose their jobs and livelihoods.
The competing positions have taken hold on Trump’s coronavirus task force after Trump — having heard from business leaders and Republican allies — began agitating for a loosening of his guidelines over the weekend.
“Our country wasn’t built to be shut down. This is not a country that was built for this. It was not built to be shut down,” Trump said Monday, adding that after the 15-day “slow the spread” period ends, the administration would evaluate how to move forward.
The discussions include a phased system based on age or geographic location, according to officials.
One option of a phased system that would see younger people — potentially under 40, according to one option — return to the workplace or business first, followed gradually by people slightly older until most of the country is back to normal.
Another option being considered is keeping in place restrictions only on vulnerable people and senior citizens, including on nursing homes, but allowing others to return as a group.
A third plan being considered would have Trump lift the federal guidelines but explicitly endorse individual governors acting however they see fit for their own states, including saying that some states should remain under stricter orders than others.
A fourth idea is to keep in place some federal guidelines but change others to allow states more leeway, so that places where the outbreak isn’t as severe can open.
One other idea is to target specific types of workers to return to work, including people who drive themselves and don’t work in large groups.
The roster of options hadn’t been presented to Trump as of Monday evening and officials were expected to keep developing options this week ahead of next Monday’s deadline.
The aim of whatever plan is chosen is to achieve Trump’s goal of getting the economy going while avoiding the health nightmare that practically every expert — inside and outside the White House — is warning of.
Trump’s political aides are aware some compromise will be needed to avoid Trump ripping off the guidelines entirely without any attempt the blunt the health effects.
To that end, aides are also mining the data to see if there is any evidence to present Trump that might show the current self-isolating measures are working in the US, even though the nature of the virus and the current situation make it hard to detect such a pattern this soon.
The thinking goes that once Trump sees his guidelines having an effect, he might be willing to give them more time.
Aides realized after a Sunday night meeting at the White House that Trump appeared intent on lifting the guidelines quickly, which led to a realization that alternate options would need developing. Discussions continued during the day on Monday as Trump’s economic advisers, including Steven Mnuchin and Larry Kudlow, channeled the views they were receiving from the business community that keeping the country shut down wasn’t worth the economic pain.
The doctors on Trump’s team — including Dr. Anthony Fauci — seem to disagree.
“If it were up to the doctors, they may say let’s keep it shut down — let’s shut down the entire world,” Trump said Monday.
Dr. Deborah Birx, White House coronavirus response coordinator, said Tuesday the task force has been looking into being “laser focused” in battling the pandemic.
“The question is really can we be laser focused rather than generic across the country?” Birx told NBC’s Savannah Guthrie on the “Today” show, suggesting a region-by-region approach.
“In other words, can we use our data in a laser-focused granular way to really look at what’s happening on the ground and adjust our public health messages based on what is actually needed by the number of cases and the work that we’re doing with the communities,” Birx said.

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S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Statistics Canada reports wholesale sales higher in July

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OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 150 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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