List and Explain the Economic Measures President Trump and Congress Have Initiated Since the President’s Speech of March 11, 2020
President Trump is issuing a proclamation under section 212(f) of the Immigration and Nationality Act (INA) to restrict travel to the United States from foreign nationals who have recently been in certain European countries. Section 212(f) of the INA only applies to the movement of human beings, not goods or cargo. The restriction applies to foreign nationals who have been in the Schengen Area, 26 countries in Europe with open borders agreements, in the last 14 days.
Nor do we attempt to track the extensive actions meant to cope with the economic fallout of the virus. Following the timeline, we briefly outline four phases of crisis response and highlight some of the most important apparent failures.
The Dow Jones Industrial Average tumbled 1,464.94 points, or 5.9%, to close at 23,553.22. The 30-stock average closed in a bear market, down more than 20% below the record close set only last month. Wednesday's close likewise put an end to a market expansion that started in 2009 amid the financial crisis.