Coronavirus live updates: Too early to decide on Tokyo Olympics, Fed acts on coronavirus risk

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  • Global cases: At least 91,300, according to data compiled by Johns Hopkins University.
  • Global deaths: At least 3,110, according to data compiled by Johns Hopkins University.
  • US cases: At least 91, according to the CDC. 
  • US deaths: At least 6, according to the CDC and state health officials.

New Hope Network announced the annual Natural Products Expo West trade show in Anaheim, Calif., will be postponed due to fears about the current coronavirus outbreak, ​Food Dive reported. The five-day trade show was expected to begin Tuesday. The group plans to announce a new date for the show by mid-April and has set up a rebate fund of $5 million to help the entrepreneurs and small businesses impacted by the change.

World Health Organization officials said it’s too early to decide whether the Tokyo Olympics should be postponed, saying they’ve recently spoken with Thomas Back, president of the International Olympic Committee, and have agreed to monitor the rapidly developing outbreak. “If there’s a need for any actions, we can discuss with the Japanese government. But I think deciding now could be too early so it would be good to monitor the situation,” Director-General Tedros Adhanom Ghebreyesus told reporters at a press conference. —Higgins-Dunn

World Health Organization officials called on medical supply manufacturers to “urgently increase production” to meet the global demand that is needed to respond to the COVID-19 outbreak rapidly spreading across the world. WHO estimates that each month 89 million medical masks will be required for the COVID-19 response, 76 million examination gloves and 1.6 million goggles,” Tedros Adhanom Ghebreyesus, director-general of WHO, said at a press conference at the organization’s Geneva headquarters.

Following an emergency interest rate cut, central bank chair Jerome Powell said the Federal Reserve saw a “risk to the outlook for the economy and chose to act.” The Fed slashed rates by 50 basis points on Tuesday. Powell said “over the course of the last couple of weeks we’ve seen a broader spread of the virus,” which the Fed worried would have a material impact on the economy. “The magnitude and persistence of the overall effect on the U.S. economy remain highly uncertain and the situation remains a fluid one,” Powell added.

Source: https://www.cnbc.com/2020/03/03/coronavirus-latest-updates-outbreak.html

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