The Inform: Goldman Sachs did the maths, and a nationwide masks mandate to cease the unfold of the corona virus would have a serious influence on the U.S. financial system
Wearing a mask has become a unique hot button problem in the United States, which is in a coronavirus crisis that seems to be getting out of control day by day.
However, a recent Goldman Sachs report believes that the lack of a national policy that mandates the use of facewear in the United States places unnecessary strain on the domestic economy.
A team of economists led by Goldman chief economist Jan Hatzius argues that a national face mask mandate could partially replace the renewed lockouts, as COVID-19 diffractions flare up in a number of southern and western United States. that would "otherwise deduct 5% from gross domestic product". (See attached table):
The Goldman crew attempted to investigate the relationship between the use of masks to protect against the transmission of droplets that transmit the COVID-19 infection. The team examined three key elements:
A U.S. regional panel in which we correlate the growth rate of infections and deaths with the introduction of the government face mask mandate
A large cross-section at the country level in which we associate cumulative infections and deaths with the delay between the start of spread and the introduction of a face mask mandate
A smaller, country-level panel that relates the growth rate of infections and deaths to the delayed use of masks.
"First, we show that a national mandate would likely increase the use of face masks significantly, especially in states like Florida and Texas, where masks have been largely voluntary," the Goldman researchers write in their 11-page report.
Read:Why do so many Americans refuse to wear face masks? Politics is part of it – but only part of it
Their data showed that infections and deaths are increasing in countries where masking is not widely used:
The Goldman report came when Florida, Texas, California, and Arizona – the states that caused much of the recent surge in US cases – imposed new restrictions and withdrew their plans to reopen.
There are currently 10.4 million confirmed cases of COVID-19 worldwide, and at least 509,706 people have died, according to Johns Hopkins University. The United States continues to lead the world, with 2.68 million cases killed and 129,545 killed.
On Monday, Tedros Adhanom Ghebreyesus, director of the World Health Organization, said the pandemic "is far from over".
Read: Barrons: Everyone should wear a mask. 3 stocks that can benefit from it.
Nevertheless, the wearing of masks in the US was lax and inconsistent. Hugos Tacos, a Mexican restaurant in Los Angeles, temporarily closed its doors and claimed that its workers were bullied for enforcing mask-wearing protocols in their restaurants.
In LA in particular, there was an explosion of COVID-19 cases, with approximately 100,000 cases and more than 3,300 deaths.
The Centers for Disease Control and Prevention have expanded their mask guidelines so that Americans should "wear them in all public places when they are near people outside of their homes." Previously, it had recommended wearing a mask in places like grocery stores and pharmacies when it was difficult to maintain social distance.
New York governor Andrew Cuomo said on Monday that President Donald Trump, who had spoken out against wearing masks despite public health recommendations, should "put a mask on" at a press conference on Monday.
"We know that it works. We have proven that it works in the state of New York, ”said Cuomo, calling on the president to issue an executive regulation that requires people to wear face covers in public.
On Tuesday, suspected Democratic presidential candidate Joe Biden said in a speech in Wilmington, Delaware that the "top" should give the US government a firm signal that wearing a mask can help slow the spread of the coronavirus.
The President's view of the use of masks is seen as falling short of the efforts of public health officials to promote the use of facewear and other personal protective equipment (PPE) to stop the infection from recurring.
The White House press secretary, Kaleigh McEnany, said during a press conference Monday that the president "encouraged people to make the best decision for their safety, but he told me he had no problem with masks and did whatever." Your local jurisdiction requires you. "
"It is your choice to wear a mask. It is everyone's personal decision whether to wear a mask or not," she said.
Concern about a resurgence of the disease has caused turmoil in the stock markets even after the Dow Jones Industrial Average
the S&P 500 index
and the Nasdaq Composite Index
All rose from the lows at the end of March due to the hope that America had gotten a grip on the breakout that bullish investors suspected could contribute to a so-called V-shaped or sharp economic recovery.