Federal Update: $500 billion Treasury Fund Meant for Coronavirus Relief has Lent Barely any Money; U.S. Coronavirus Cases Top 1.5 million; Business Recovery from COVID-19

May 18, 2020

  • A $500 billion Treasury Department fund created by the Cares Act in March to help stabilize the economy has lent barely any money, according to an initial report issued by a new Congressional Oversight Commission. The money was supposed to be used to help prop up large segments of the U.S. economy at a time when millions of Americans had lost their jobs or were ordered to work remotely.
  • The number of COVID-19 cases in the United States exceeded 1.5 million on Monday, as total deaths caused by the new coronavirus approached 90,000, according to a Reuters tally of state and county figures. Most U.S. states reported a drop in new cases of the respiratory illness for the week ended May 17, with only 13 states seeing a rise in infections compared to the previous week, a separate Reuters analysis found.
  • As we progress into the recovery phase of the crisis, resilient leaders recognize and reinforce critical shifts from a “today” to a “tomorrow” mindset for their teams. They perceive how major COVID-19-related market and societal shifts have caused substantial uncertainties that need to be navigated—and seized as an opportunity to grow and change.


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