Rate cut, shutdowns and a curfew: US ramps up virus response

WASHINGTON: America ramped up its response to the coronavirus pandemic on Sunday as the Federal Reserve took sweeping action to stem the economic fallout, Puerto Rico declared a curfew, New York closed schools, and California locked down its bars and restaurants. The fastspreading pandemic has claimed more than 60 lives in the United States, disrupting every walk of life as Americanswatching Europe plunge into lockdown as panic-buying spreads at home-brace for what is yet to come.

Faced with an economic shutdown, the Fed announced a raft of drastic emergency measures to shore up confidence and keep the financial sector running, including slashing the key interest rate to 0-0.25 percent. President Donald Trump, addressing a now-daily briefing of the White House task force on the crisis, praised the "phenomenal" action by the Fed, and sought a reassuring tone even as he pleaded with Americans to stop stripping store shelves bare.

"Relax. We're doing great. It all will pass," the president said. But task force member Anthony Fauci, the country's leading expert on infectious diseases, was blunt in telling Americans to prepare for a worsening situation, saying it was vital the country made the right choices in coming weeks. "The worst is ahead for us," said Fauci. "We have a very, very critical point now."

Underscoring the sense of urgency, New York's Mayor Bill de Blasio announced the closure of public schools in America's biggest city, bowing to pressure after strongly resisting the move.

Schools, museums, sports arenas and entertainment venues have already closed in many US states, but St Patrick's Day celebrations still filled bars and restaurants over the weekend despite pleas to limit socializing, prompting calls for more aggressive action.