WHAT YOU NEED TO KNOW:
- The Incoming Biden-Harris administration COVID-19 committee advises against nationwide lockdown as a method to prevent the spread of the virus.
- The financial sector will oppose another countrywide lockdown considering the economic impact on both the business and labor sector.
- Instead of putting the whole country in lockdown, the Biden COVID-19 team recommends targeted lockdowns, which is more efficient in minimizing the virus’s spread.
The coronavirus expert team of the 46th President-elect says it would avoid implementing an economy-shattering countrywide lockdown to prevent the infection spread.
Bellevue Hospital Center Infectious disease expert Dr. Celine Gounder explained that shutting down the whole nation is not amongst President-elect Joe Biden’s options to deal with the pandemic that infected millions worldwide. Gounder is a New York University assistant professor and a member of Biden’s COVID-19 advisory team, a group of specialists who counsels the Biden-Harris administration on handling the health crisis.
During an interview with Yahoo Finance Live, the doctor explained that there are alternative ways to efficiently manage the recurring surge of COVID-19. The strategy includes focus restrictions on human movement, citing an example re-implemented by Governor Andrew Cuomo in New York.
Gounder added what they observed during the spring shows that targeted shutdowns are more effective than locking down the whole state or country.
The same approach was also echoed by Vivek Murthy, co-chair of Biden’s coronavirus advisory committee.
However, their positions on the COVID-19 response followed the backfire from the financial community against a nationwide lockdown recommended by another Biden COVID-19 adviser.
Leading Biden consultant Dr. Michael Osterholm told Yahoo Finance Live that a four to six times a week countrywide lockdown would be more effective in handling the outbreak. Osterholm argues that the U.S. is financially capable of covering all wages affected by any lockdown restriction. The economic support to households would remain as a vaccine for the lethal virus is distributed throughout the country.
Osterholm added that the government could pay for the economic package covering all workers, small to medium businesses, county and state losses, and if they would do that, the U.S can afford a four to six weeks lockdown.
One economic expert says the Dow Jones Industrial Average would dive 4,000 points should a nationwide lockdown be enforced.
Currently, that market crash projection may be held out as the Biden team’s direction is towards specific lockdowns rather than severe.