New York Gov. Andrew Cuomo on Monday provided his daily coronavirus update from the Javits Convention Center, which opened today as an emergency field hospital.
The governor said both the Javits Center and the USNS Comfort hospital ship, which docked in the city this morning, will serve patients dealing with non-coronavirus medical needs. That should leave New York City hospitals to serve as the frontline of the coronavirus outbreak.
While expressing gratitude for federal support the state has received, Cuomo stressed that the city is not an "anomaly" but rather a "canary in the coal mine" for what the rest of the state and country will soon experience.
"What you see us going through here, you will see happening all across this country," he said.
"Anyone who says this situation is a New York City-only situation is in a state of denial."
All but one county in the state of New York has a confirmed COVID-19 case, he added.
Collaboration has been complicated, however, by the fact that states are competing for the same stock of limited supplies.
"We're competing amongst ourselves. We're driving the prices up. When we started buying ventilators, they were under $20,000. The ventilators are now over $50,000 if you can find them," Cuomo said.
The governor echoed a message from Mayor Bill de Blasio earlier today emphasizing that New York would provide guidance and direct assistance to other areas once they, too, become hot zones.
The state's latest death toll from the virus now stands at 1,218, a jump of about 300 from Sunday. Cuomo said the jump correlates with an increasing number of patients who have died after prolonged periods of ventilators use, suggesting that patients with more serious cases are beginning to succumb to the disease.
In a bit of positive news, Cuomo reported that cases are now doubling at a slower rate than that had been, down from doubling every two days to every six days.
"While the overall number of cases is going up, the rate of doubling is actually down," Cuomo said.
Rebecca Walser, President of Walser Wealth Management, joins Cheddar News' Closing Bell, where she discusses the factors behind Monday's surge on Wall Street and explains why investors will likely experience volatility in the market throughout the month of December.
Cheddar's Chloe Aiello joined "Closing Bell" to break down the progress of the SAFE Banking Act in Congress as cannabis businesses operators struggle to find financial institutions that will service them. Banks face steep federal penalties, including the risk of losing a bank charter, if found to be servicing marijuana businesses even if their state has legalized operations. Aiello reported that while there was some bipartisan support for the measure in the Senate, the bill faces some opposition from conservatives with "longstanding concerns" about cannabis and progressives who prefer a more comprehensive approach to reform.
Head of Instagram Adam Mosseri is slated to testify this week in front of the Senate Commerce Subcommittee after a Wall Street Journal report that found the Meta-owned social media platform is negatively impacting the mental wellness of teen girls.
Chinese regulators are reportedly behind China-based ride-hailing company DiDi exiting from the New York Stock Exchange, just days after listing earlier this year. The regulators stated prior that DiDi had not received the necessary clearances to list in the states. Gordon Chang, Asian affairs expert, joined Cheddar to break down what the delisting says about the relationship between nations. "This really strikes me as an attempt to really to force a decoupling of China and the U.S. in the financial markets," Chang said.
U.S. Futures were pointing to a higher open to round out the week despite a miss on the November Jobs Report, which showed slower job growth than expected-- and as the omicron variant continues to spread across the country. Patrick Healey, Founder & President at Caliber Financial Partners joined Cheddar's Opening Bell to discuss.
Just days after the detection of the Omicron variant, the World Health Organization has agreed to start the process of establishing a global pandemic treaty or accord. Amy Maxmen, senior reporter for Nature, and Dr. Samuel Scarpino, managing director for the Rockefeller Foundation's Pandemic Prevention Institute, joined Cheddar to discuss this effort and what lessons can be learned from the many COVID-19 failures as the world prepares for future pandemics.
It's a mixed bag for the November jobs report. Hiring slowed last month as employers only added 210,000 jobs, massively missing the estimate of 550,000. But there was one bright spot: the unemployment rate fell to 4.2%, with the number of unemployed people dropping to 6.9 million. Both of those numbers are considerably down from their highs at the end of the 2020 recession. Heather Boushey, a member of President Biden's Council of Economic Advisers, joined Cheddar to discuss the report and the state of the country's ongoing economic recovery.
