The number of COVID-19 cases is hitting a record high all across the U.S., suggesting the second coronavirus wave is underway. President-elect Joe Biden said fighting the pandemic will be his top order of business, but with his inauguration more than two months away, there is concern the fight against the virus could be insurmountable by then.
Among those vying for immediate action to be taken is Rep. Ami Bera (D-Calif. 7th District), who worked as a doctor before he was elected to Congress.
"We all know the outcome of this presidential election. I would hope the career scientists and others at the FDA, at the CDC, would start working with the Biden administration. And you're seeing some of that messaging change a little bit, but Donald Trump's unpredictable," Bera told Cheddar.
It's not just Americans' health at stake; it is also the health of the U.S. economy Bera is concerned about. Last week 709,000 Americans applied for first-time unemployment benefits. While that number better than expected, jobless claims are still exceedingly high across the U.S., a sign that relief for Americans should remain a priority, Bera said.
"I don't think we can wait until January 20th. I think we've got to get something done in this Congress, in the lame-duck session," he continued.
Getting the Vaccine Out
The California congressman suggested that the Biden administration will provide a "180-degrees difference" when it comes to strategizing the country's way out of the pandemic and will be led by science. Still, he believes there will be difficulty in distributing a vaccine once it becomes widely available.
"This is going to be a major logistical lift here in terms of how you get that out there, particularly if it is the Moderna or Pfizer vaccine because of the cold storage issues. They have to be kept at very cold temperatures," he explained.
When it comes to distributing the vaccine, Bera said workers on the frontlines of the pandemic, those at high risk of infection, and people in the hardest-hit communities should be tended to first.
With the holidays just weeks away, the pandemic is only expected to worsen and until a vaccine is ready, Bera said Americans must do their part and move responsibly.
"Everyone really should take the caution, wear a mask, avoid big gatherings, particularly big indoor gatherings," he said.
The government should also prepare the public for a vaccine, if and when it becomes available. "Between now and when that vaccine's available, let's have positive messaging and reassure the public that the science is going to drive when that vaccine is ready," he said
In February, Senator Jeff Merkley (D-Ore.) and Representative Jamaal Bowman (D-N.Y. 16th District) introduced the Fair College Admissions for Students Act. The bill looks to curb the admissions advantage given to the children of alumni and donors for colleges and universities. Sen. Merkley joined Cheddar news to discuss the push behind the legislation. "My dad was a mechanic. I was applying to schools around the country. I never thought about the fact that those students who came from the most privileged backgrounds also got a special advantage in applying to college," he said. "They take up 10-25 percent of the slots at many of our universities, and so this is kind of affirmative action for those who need it least rather than a level playing field for everyone else." If enacted, the law would amend the Higher Education Act of 1965 doing away with legacy or donor status admissions for any school participating in the federal student aid program.
Nancy Daoud, a private wealth adviser for Ameriprise Financial, joins Cheddar News' Closing Bell, where she discusses what led to a sharp spike on Wall Street during Tuesday's session and what she will be watching for most closely when the Fed announces it latest policy decision on Wednesday.
Russia's economy is effectively at a standstill after it was slapped with extensive western sanctions, and now it has to make the first of four monthly interest payments on dollar bonds. It's likely the country will not be able to pay — so what happens next? Major credit ratings agencies have downgraded Russian sovereign debt, with Fitch issuing a 'C' rating and S&P Global Ratings issuing a 'CCC-' rating. Caleb Silver, Editor in Chief of Investopedia, joins Closing Bell to discuss what a Russian debt default could mean for Russia's economy, U.S. consumers who have pensions with exposure to Russian assets, and whether this could create a global financial crisis.
With the number of Ukrainians being displaced due to the Russian invasion surging, two students from Harvard took it on themselves to develop a website to help connect potential hosts with refugees seeking housing. The co-founder of the website Ukraine Takes Shelter, Marco Burstein, joined Cheddar news to discuss working together with fellow freshman Avi Schiffmann to streamline the effort to aid Ukrainian refugees. "We basically worked for three days straight developing the website, and since then the response has been pretty incredible," Burstein said.
Over three weeks ago, WNBA player Brittney Griner was arrested in Russia on drug charges. According to reports, the Star arrived at an airport near Moscow where authorities found Vape cartridges and hashish oil in her luggage. Grindr faces serious charges that could carry a possible sentence of 5-10 years in a Russian prison. Experts warn that Griner's arrest could be used as a bargaining chip. Partner at Stroock & Stroock & Lavan, Thomas Firestone, joined Cheddar to discuss more.
On a live broadcast, an employee on a Russian state news television channel held up a sign protesting propaganda about the war in Ukraine. Ruslan Deynychenko, executive director of the Ukrainian fact-checking organization StopFake, joined Cheddar News to discuss what he called the misinformation spread to the Russian people about the invasion. "They are not about informing people they are about brainwashing people," he said. "Russian government uses their media as an instrument, as a tool, of their foreign policy."
Student loan payments for millions of borrowers are set to resume on May 1st. However, signals from the Department of Education show that the date may be pushed back. Once again, it's been pushed back a few times. Initially, the Biden Administration stated loan payments would resume as the economy continues to show signs of recovery. Student Loan Expert and Author of "How to Appeal for More College Financial Aid", Mark Kantrowitz, joined Cheddar to discuss more.
