Trump reportedly set to declare coronavirus a national emergency

President Trump is reportedly set to declare a national emergency over the COVID-19 coronavirus pandemic.

Trump on Friday announced he would be holding a news conference on the coronavirus outbreak this afternoon, and Bloomberg subsequently reported he plans to invoke the Stafford Act to declare a national emergency over the crisis, which will allow for more federal aid to go toward the response to the outbreak.

Trump on Thursday had suggested he might take this step, telling reporters that "we have very strong emergency powers under the Stafford Act," per The Hill. "...If I need to do something, I'll do it. I have the right to do a lot of things that people don't even know about."

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Earlier this week, Politico reported Trump was "reluctant to declare an expansive emergency" because this would "hamper his narrative that the coronavirus is similar to the seasonal flu and could further agitate Wall Street." For that reason, Bloomberg noted this move "marks a symbolic turning point for the president."