The Morning Dispatch: America Shuts Down

Happy Monday. Today’s newsletter comes to you after your Morning Dispatchers did their best to practice social distancing this weekend. Declan scared himself silly watching Contagion (which he cannot recommend you do) and left his apartment exactly once for 30 minutes of fresh air. Andrew hunkered down and learned to play Arkham Horror. Steve played some family street hockey. If even Ted Cruz and Alexandria Ocasio-Cortez can agree on the importance of something, it might just be the right thing to do.

Quick Hits: Today’s Top Stories

  • The Federal Reserve cut interest rates yet again—this time to essentially zero—and pledged to buy $700 billion in Treasury securities. After rocketing up late on Friday, stocks are set to plunge again—futures hit the “limit down” Sunday night.

  • Clinical trials for a COVID-19 vaccine are set to begin today. The vaccine—co-developed by the National Institutes of Health and Moderna Inc.—would still be 12 to 18 months from full validation, if effective.

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