10 things you need to know today: April 30, 2020

1. Drug shows promise in treating COVID-19 patients

A federal trial found that the Gilead Sciences antiviral drug remdesivir can speed the recovery of COVID-19 patients, and the Food and Drug Administration reportedly plans to issue an emergency approval to start using it, Trump administration officials said Wednesday. "This is very optimistic," said Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases. Gilead Sciences said its own trial and another overseen by the infectious diseases institute showed the drug can cut recovery times. The drugmaker's study found at least 50 percent of patients treated with remdesivir improved. The overall mortality rate of the study was 7 percent, and few patients developed bad side effects. A separate study concluded remdesivir was "safe and adequately tolerated" but "did not provide significant benefits over placebo."

The New York Times

2. Economy contracts at 4.8 percent annual rate in 1st quarter

The U.S. economy contracted at an annual rate of 4.8 percent in the first quarter of 2020 as businesses lost customers or shut down entirely because of the coronavirus pandemic, which has now killed more than 60,000 people in the United States. It was the first quarterly drop in six years, and the steepest since the Great Recession. The first quarter included two months before widespread coronavirus shutdowns, but the second quarter won't, so it is expected to be even worse. Some experts warn the economy could contract at a rate of up to 40 percent in the second three-month period of 2020. Data from the Labor Department recently showed that more than 26 million Americans have filed initial unemployment claims over five weeks, wiping out all of the job gains since the Great Recession.

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The Associated Press The Washington Post

3. Coronavirus toll equals deadliest flu season since 1967

The U.S. coronavirus death toll reached 61,000 on Wednesday, making the outbreak as deadly as the 2017-2018 flu season, when more than 61,000 died, according to the U.S. Centers for Disease Control and Prevention. The only flu seasons on record that have killed more in the United States were in 1967, when 100,000 Americans died, 1957 (116,000 deaths), and the 1918 Spanish flu outbreak, which killed 675,000. The U.S. has recorded a daily average of about 2,000 deaths in April from COVID-19, the respiratory illness caused by the novel coronavirus. Public health officials believe the real toll is higher, but many deaths were not added to the total due to limited testing.

Reuters

4. White House orders intelligence review of WHO, China on coronavirus

The White House has ordered intelligence agencies to review communications intercepts, satellite imagery, and other data sources to determine whether China and the World Health Organization hid early information on the coronavirus outbreak first detected in Wuhan, China, NBC News reported Wednesday, citing current and former U.S. officials. The "tasking" was sent to the National Security Agency and the Defense Intelligence Agency last week. The CIA has received similar orders. President Trump said Wednesday he was "getting pieces already. And we're not happy about it, and we are by far the largest contributor to WHO, World Health. And they misled us ... Right now, they're literally a pipe organ for China." Beijing has called the coverup allegations "barefaced lies."

NBC News

5. Fed keeps interest rates near zero

The Federal Reserve said at the close of a two-day policy meeting on Wednesday that it would hold its benchmark short-term interest rate near zero to help support the economy through the coronavirus crisis. The historically low federal funds rate has helped bring down credit card and mortgage rates, although consumers who don't have good credit can find it hard to borrow from jittery banks. The U.S. central bank also plans to expand the number of cities and counties eligible for its bond-buying program to help keep local and state governments afloat. "The most significant responsibility of the Fed now is to make sure that credit markets continue to function," said Greg McBride, chief financial analyst at Bankrate.com. "Without functioning credit markets, there will be no economic recovery."

CNBC

6. Lebanon faces 3rd night of unrest over economic crisis

Lebanese cities were rocked by a third night of unrest on Wednesday as small crowds took to the streets to protest a deepening economic crisis. In Tripoli in northern Lebanon, protesters targeted members of the military with fireworks and stones. Soldiers responded by firing rubber bullets. Lebanon's currency has lost half its value since October, driving prices and unemployment sharply higher. The Lebanese pound plunged further last week, triggering the unrest. The country's leaders are trying to finalize an economic rescue plan, a necessary step to negotiate with foreign lenders. The country defaulted on its debt last month so it could afford key imports.

Reuters

7. Whitmer announces plan to offer free college to essential workers

Michigan Gov. Gretchen Whitmer (D) on Wednesday unveiled a plan to provide tuition-free college or technical certification for essential workers who are serving during the COVID-19 coronavirus crisis. Whitmer's "Futures for Frontliners" program would be much like what the GI Bill does for military members, veterans, and their dependents. Workers "staffing our hospitals and nursing homes, stocking the shelves at grocery stores, providing child care to critical infrastructure workers, manufacturing PPE, protecting public safety, picking up trash, or delivering supplies" would be among those eligible, the state said. Whitmer added that federal grant money would be used to cover the program's costs. Whitmer's aggressive response to the crisis has included a broad stay-at-home order that has triggered protests by people demanding the reopening of the state's economy.

Detroit Free Press

8. Trump announces Arizona trip after weeks in confinement

President Trump announced Wednesday that he would end his seven-week-long confinement at the White House during the coronavirus pandemic to travel to Arizona, a presidential battleground state. "I think I'm going to Arizona next week and we look forward to that, and I'm going, I hope, to Ohio very soon." Trump said he would attend an event at an Arizona industry site, but not hold a rally, because it is "too soon for everybody to get together and stand next to each other." Bloomberg News reported that Trump would tour a facility making personal protective equipment. Trump said he hoped to be able to resume large rallies "in the not too distant future," but that holding one now with empty seats to allow social distancing "wouldn't look too good."

New York Post

9. Report: California to close beaches and parks

California Gov. Gavin Newsom (D) on Thursday is expected to announce an order to close all state beaches and parks, effective Friday, to curb spreading of the COVID-19 coronavirus. "We wanted to give all of our members a heads up about this in order to provide time for you to plan for any situations you might expect as a result, knowing each community has its own dynamics," a memo to police departments obtained by CNN said. The move comes after crowds gathered at many Southern California beaches last weekend, and as Los Angeles Mayor Eric Garcetti announced that his city would become the first major municipality in the nation to offer coronavirus testing for anyone who wants it, regardless of whether they have COVID-19 symptoms.

CNN CNBC

10. U.N. expert warns Myanmar committing more war crimes during pandemic

A United Nations human rights expert said Wednesday that Myanmar might be committing more war crimes against its ethnic minority populations. "While the world is occupied with the COVID-19 pandemic, the Myanmar military continues to escalate its assault in Rakhine State, targeting the civilian population," said Yanghee Lee, the outgoing U.N. Special Rapporteur on the situation of human rights in Myanmar. The country's military already has been accused of genocide after a 2017 crackdown on the Rohingya Muslim minority prompted nearly 750,000 people to seek refuge in neighboring Bangladesh. More than 150,000 reportedly have been displaced during the latest fighting between the Myanmar military and an armed group made up primarily of members of the Buddhist Rakhine ethnic group.

Time