President trump also saying he takes no responsibility for the failures in testing thus far as this world reels from the ongoing pandemic. Stocks also rebounding. Here are the latest facts. Right now in the yiets, the markets come back 9. 3 after the historic crash yesterday. 23 states are now operating under various forms of emergencies, emergency declarations from their governors. As for this new national one, it directs 50 billion in new federal funding freed up to address the crisis. It will also help wave certain rules from doctors and hospitals dealing with all this. This kind of crisis is always, for any country, a test of leadership. In the United States everyone knows the question, the phrase, where does the buck stop . Well, now walking out to address the nation to declare a National Emergency, donald trump made one thing very clear when questioned on that. Donald trump says that buck doesnt stop with him. Dr. Fauci said earlier this week the lag in testing was, in fact, a failing. Do you take responsibility for that and when can you guarantee that every single american who needs a test will be able to have a test. Whats the date of that . No, i dont take responsibility at all because we were given a set of circumstances and we were given rules, regulations and specifications from a different time. Donald trump also criticizing the coronavirus release package bill that House Democrats have introduced. We should note there was reportedly from both sides, on going negotiations between spoker pelosi and Donald Trumps treasury secretary Steve Mnuchin. The three most important parts of this bill are testing, testing, testing. This legislation facilitates free coronavirus testing for everyone who needs a test including the uninsured. Testing is a way to find out some information for yourself, about yourself if youre in that situation. It goes from the unknown in a medical sense to the known. But around the country, of course, there is much that we dont know, and precautions are being taken. American life continuing to change as different communities try to figure out how to manage the risk of the unknown. Public schools now in seven states just straight up closed. Louisiana postponing tuesday nights democratic primary. Thats a big deal. The legendary boston marathon, of course, the symbol of our strength and resilience, something that many people flocked to after it was attacked brutally by terrorists in 2013, well, its been postponed for the first time in 124 years. The changes are all aimed at slowing the spread of this virus. Health officials stressing what people can do, what you can do to manage the risk and contain potential damage. When you look at the Historical Perspective of these types of outbreaks, they go along like this, then they start to come up and they take a big spike. They peak and they come down if you dont do anything. What you hope to do is get that peak, become a little bit of a hump. That hump is going to be still a lot of people will get infected and a lot of people will get sick, but hopefully it will be much, much less than the major peaks. Im joined by dr. Sarah lynn mark, former medical adviser to hhs and the white house. Dr. Will schaffner from vanderbilt and a cdc adviser. Dr. Mark, what did you think of what we saw in the press conference and what do americans need to know tonight . I think it was finally reassuring the have the declaration of emergency. Many of us have been waiting for us. It frees up resources and assets and provides assistance that the states so desperately need. Were in uncharted waters, we dont have a test that can be used in a practice setting at the moment by many physicians and nurses around the country. We need really all hands on deck. I think that was a good sign were moving forward in this. Weve been waiting for it for a little while. Dr. Schaffner, weve been tracking all kinds of different parts of information, reporting, much of it written when you look at the types of problems that are being managed and tracked. But this is something we were hearing from people with experience in an er. Take a listen. Theres not a lot of room to accommodate a pandemic. We will do the best we can. Honestly, in italy and in china, in a lot of cases because of how overwhelmed those hospitals were, they were giving the same treatments they would have gotten in the 1950s. We dont want to get there. Your view of that and Everything Else from today . Actually its true. We dont have a lot of Surge Capacity in your hospitals. Every institution in this country, every hospital has a pandemic preparedness plan. We have one which we have rehearsed at vanderbilt. If the load in our emergency room becomes too much, we have plans to actually discharge patients absolutely as quickly as we can. We might stop elective admissions and open up other wards. So we have ways to accommodate many patients with respiratory illnesses that we wouldnt under normal circumstances. So we have response mechanisms. Are they perfect . No. But they are responsive and we can do a good job with them. Dr. Mark, take a listen to dr. Fauci again who weve all come to rely on over this week as he speaks in more detail about this timeline. It will likely by anywhere from a few weeks to up to eight weeks or more. I hope its going to be in the earlier part. Two, three, four weeks. Its really impossible to make an accurate prediction. Certainly fair to caveat how difficult this is. But what is your view of the timeline as americans understand when they look at closures and precautions, the kind of viable timeline were discussing. I wanted to ask both of you, when we see the reported cases in the United States from yesterday to today, and again everyone understands reporting some part of it, when we see them go up a third or more from yesterday to today, what does that mean . Does that give any insight to where we are in this timeline . I think the challenge weve had is we havent had a test available. There are probably many, many cases, thousands and thousands of cases that we just havent detected by a test. We have to operate with the best practices we can. I know patients have gone to facilities, they are symptomatic, havent been able to get tested. Some hospitals stated unless youre so symptomatic that you require hospitalization, were not going to give the test. So what we have to do is do our best practice in regard to medicine. I think in regard to timelines, we look overseas to see how other countries have done. That gives us an indication, a window. But i really cant stress enough that it is time now to prepare, our patients, our communities and certainly, as we have heard, our health care systems. The window is narrowing. Dr. Schaffner . Actually, ari, its paradoxical. Were finding more cases because were looking harder. The harder you look, the more you find. This means that testing is actually getting out there and were beginning to define how widely distributed this virus is across the country. Are there hot spots, or is it rather uniformly distributed across the country . I hope we keep finding more cases, because that will get us closer to what the reality is. Dr. Schaffner, my thanks to you. Dr. Mark, please stay with me. We have other Experts Joining us. I want to dig a little deeper into whats happening with the congress, planning to vote on this aid package, multi billion dollar price tag, a series of packages over a month. Politico reporting it could cost more than those huge and Controversial Bank bailouts of 2008. Are there positives . The dow already gaining 2,000 points, the largest oneday gain since october 2008. What goes down sometimes comes back up. All of this after a week of wild fluctuations. We wanted to show you here the worst singleday drop since, of course, the black monday of 1987, that was yesterday. Now we have an update weve been waiting for. Moments ago Speaker Pelosi announcing they have reached a formal agreement on the first bill to respond to the Coronavirus Crisis. Having gotten our medical information, we want to go to the road ahead. Joined by jillian at the time and e. J. Dionne of the washington post. Good to be with you. Good to be with you. On the politics, e. J. , what does it mean to discover under these terrible Trump Administration can bargain and we have the outlines of initially some sort of bipartisan deal. Well, i dont know whats in the deal, but that is one of the first truly reassuring things of the week. I think the other reassuring thing is whenever a medical professional dauks rather than president trump, i think it was so striking that the market just collapsed after that speech he gave. Todays news conference, a lot of it was dr. Fauci giving information. I think it would have been awful if congress couldnt have reached agreement on some very basic things. What do they want to do . As nancy pelosi said, you had the clip earlier, free testing. Its absurd that when you need to stop a virus, you have to have everybody getting tested who needs it. Thats a big deal. Paid sick leave. Were asking people to stay home from work and if they dont get paid, they have no incentive to stay home. What kind of situation are they in . Then Unemployment Insurance because people pulling out of a lot of the activities that they would normally engage in is going to cause a lot of people to lose work. I would hope that this minimal package, and hopefully some food aid to kids who arent going to school, could get through at a time like this. I hope those are all components of the deal. You mentioned that the president s National Address did not calm the markets. According to many, it didnt calm parts of the public. He was back at it today. Take a look at this back and forth about policy and vacancies in the federal government. My first question is you said you dont take responsibility, but you did disban the White House Pandemic Office and the officials that were working in that office left this administration abc bankruptly. What responsibility do you take to that . The officials that worked in that office said the white house lost valuable time because that office was disbanded. What do you make of that . I think its a nasty question. What weve done and tony has said numerous times that we saved thousands of lives. When you say me, i didnt do it. We have a group of people. Its your administration. I could perhaps ask tony about that. I dont know anything about it. E. J. , do you know anything about it . That was really shocking but not surprising. Thats what the president often is. His administration did shut down an office in the National Security council and a center at dhs whose jobs involved monitoring viruses, getting us ready for situations like this. He did shut them down. You played it earlier, the quote that will be the epitaph for this administration if it doesnt get out of this mess is i dont take responsibility at all. At all. I heard that and i wondered how many ads are the democrats going to run . What are the pictures in their ads theyre going to run with the words i dont take responsibility at all . That answer was an example of that. E. J. , stay with us. Ive got gillian tett here in our news room. We dont follow the markets day to day. Kind of hard not to this week. A whole set of other Financial Media that does just that. But i think our viewers understand, we look at it when it gets this big. We turn to you as an expert on that. Walk us through big picture, not even today but this week, what happened. This week was nuts. If you go back to 1924 and look at the table of the top 20 days with the biggest movements in share prices, three out of the five days this week were in that table. Youve had incredible swings down 10 , back up 10 . I dont think that volatility is going to go away any time soon. The timing of what happened today with the president is very important. Stocks went down dramatically yesterday and then came back a bit in the morning. When the president stood up and started to speak, they initially started falling again. The moment when they started rallying dramatically just before the markets closed was actually when the ceos and his Health Officials started speaking and people said, yes, at least they have a plan, working with businesses to try and get these testing kits out. That was certainly very good news. Its quite striking that after the markets closed and the press conference took place just before the markets closed, then came the news and, in fact, pelosi has not got a deal with the white house yet to get this allimportant bill out for how people are going to get covered financially if they need to get the test youre saying thats what the markets were looking like before this evening, where now she says she she has got it. She has got it. Ive got a letter from Speaker Pelosi where she says the Coronavirus Crisis presents this grave threat. The house has taken the next steps. She outlines an agreement on economic security, food security. If thats come through, that will help support sentiment. The thing the markets are reacting to right now is a realization that if we look at four weeks, several months of closures, of measures, thats going to really seriously damage the economy. Its going to tip it into recession. Youre already seeing Big Companies like delta and united essentially saying were going to need some kind of government support. A host of companies tapping out their banks desperately. Two things on that while i have you as our expert. Number one, how much of that is about the real economy now. Everyone can see in their own community, people are going out less, all the real stuff. How much of that is the Market Pricing in the uncertainty and the risk of, as we just heard the doctors say, could be weeks, could be longer. We dont know what were up against. Its a combination of markets hating uncertainty in general and having had a very nasty psychological shock because they didnt see this one coming. So theyre reeling from this. The other question i have for you, because you mentioned what the experts are saying, we never shoot the messenger. Youre not saying it, but ill ask the question. Why is it that these industries, airline, travel, they get hit for a week or two and immediate want a government bailout. What about all the people across the country who have student death crisis, health carerelated bankruptcies, what about them right now . I think thats a very good question indeed. Youre going to see a lot of pain. Almost always the most vulnerable who get hit in a crises like that. Youll hear about other parts of the world which are extending aid pretty rapidly to the vulnerable population. In germany theyre spending a lot of government money to try to help Vulnerable People and vulnerable Small Companies that are getting hit. Theres going to be a lot more arguing in congress about what could or should be done to help protect the vulnerable. The key thing people need to understand is at the start of the year, there was huge optimism in the stock markets and amongst ceos that america was going to have another strong year of growth. People are saying, would it be 1 , 2 . It was going to be strong. Now a majority of people in the markets are expecting a recession, and that changes things. Although donald trump keeps tweeting that the Federal Reserve has to cut balls again, and although the fed is having a crucial meeting next week when it will cut rates again maybe to almost zero which is extraordinary, theres a growing number of people in the markets who dont think thats going to help much. Were over on time. E. J. Dionne, 20 seconds. If you listen to gillian here, it sounds like everything just changed for president trump. I think thats absolutely right. Two big things change. It looks like joe biden is going to be the nominee. He makes trump very nervous. President trump has been below 50 approval with a good economy. Its swrr hard to see what his numbers are going to look like except theyre going to go down given what is likely to happen in this economy this year. I hope it wont for the sake of the economy, but i think its going to change the election. A lot of interesting important insights here. E. J. s book, code red. How progressives and mod rats can unite. We have a lot more including the testing crisis. States having drivethroughs, others with all kinds of shortages. How our nations institutions can respond. Leading by example, donald trump was out with these officials but shaking hands given all the precautions weve heard. Speaker pelosi taking it a different way, with the elbow bump tonight, a newsworthy interview, maxine waters, chair of the Financial Services committee is here. Im ari melber. Youre watching a special and maintained it. Heres your a1c. Oh my a1c is under 7 announcer and you may lose weight. Adults who took ozempic® lost on average up to 12 pounds. I lost almost 12 pounds oh announcer for those also with known heart disease, ozempic® lowers the risk of major cardiovascular events such as heart attack, stroke, or death. 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