US Pres. Trump: Will invoke Defense Production Act against coronavirus
|While addressing the press briefing with Coronavirus Task Force on Wednesday, US President Trump said that he will invoke Defense Production Act against coronavirus.
Key quotes
Will sign act shortly after news conference.
FEMA activated in all regions.
Two hospital ships being prepared to go to New York.
Will hold second news conference Wednesday or Thursday regarding FDA and coronavirus.
One hospital ship to be positioned on west coast after saying both would go to New York.
Potential for 20% unemployment a worst-case scenario, we are nowhere near it.
USD reaction
The US dollar hits the highest levels since March 2017 against its main competitors, with the US dollar index now trading at 101.26, up 1.68% on the day.
Mounting coronavirus concerns on the global economic growth and liquidity crunch in the markets has fuelled the massive surge in the demand for the greenback.
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