Trump Declares National Emergency Over Coronavirus, Solutions Spur Wall Street Rally

President Donald Trump declared a national emergency Friday to address the coronavirus pandemic, as cases around the country continue to mount. Moreover, as the president announced the administration’s plans to combat the crisis, the stock market surged and rebounded from its dramatic plunge.

Trump — who was flanked by Vice President Mike Pence, Director of the National Institute of Allergy and Infectious Disease Dr. Anthony Fauci, Health and Human Services Secretary Alex Azar, along with other administration officials — layer out a string of solutions and options that included working closely with the private sector.

The President stressed that executives who agreed to join in the efforts to battle the contagious virus are putting the country first, as Dr. Fauci warned that he expected the number of people infected with the virus to increase in the upcoming weeks.

Top executives of Target, Walmart, and Walgreens also agreed to make all their facilities available for testing of the coronavirus, Trump said. Financial markets have been up and down for nearly three weeks as Americans have stressed about the growing threat of the outbreak and the uncertainty about the future.

“I’m also asking every hospital in this country to activate its emergency preparedness plan, so that they can meet the needs of Americans everywhere,” said Trump.

“Emergency orders I’m issuing today will also confer broad new authority to the Secretary of Health and Human Services,” Trump added. “The Secretary of HHS will be able to immediately wave revisions of applicable laws and regulations to give doctors, hospital — all hospitals — and health care providers maximum flexibility to respond to the virus and care for patients,” the president continued.”

Trump told reporters in the Rose Garden that he will “unleash the full power of the federal government, I am officially declaring a national emergency.” The President noted that the declaration would allow him to disperse nearly $50 billion to states, territories and localities that are fighting against the disease.

“No resource will be spared — nothing whatsoever,”he said, adding later during the press conference that the White House would be making the full plans public later in the day.

Trump also announced that he would waive interest on all student loans held by all government agencies. He further noted, that the energy secretary would be buying “large quantities of oil” to shore up the nation’s strategic reserve.

As for informing the public, the Trump said his team was working with Google to develop a website that would inform the public on when an individual should be concerned enough to require a test. The website will assist with the overwhelming demands that are and will be placed on the the health care system.

“Google is helping to develop a website,” he said.  “It is going to be very quickly done, unlike websites of the past, to determine whether a test is warranted and to facilitate testing at a nearby convenient location.”