Photo: Saul Loeb/AFP/Getty Images

A startling new report from Imperial College London warns that 2.2 million Americans and 510,000 Britons could die from coronavirus if extreme action isn't taken to change the course of the outbreak.

Why it matters: The report's dire warnings prompted a quick course correction from both the American and British governments on their strategies, but its strict recommendations and long timeline — 18 months — to stem the tide could have far-reaching implications for both populations and economies.

What they found: The report states the effectiveness of "mitigation," which includes isolating only the sick and those linked to them while advocating social distancing for at-risk groups, is limited. It instead recommends "suppression," a much more wide-ranging tactic to curb coronavirus' spread.

  • The researchers say that suppression "will minimally require a combination of social distancing of the entire population, home isolation of cases and household quarantine of their family members." It also recommends school closures.
  • The report notes that this strategy could have to be in place until a vaccine is developed, which could take 18 months — saying it is "the only viable strategy at the current time."

Worth noting: While China and South Korea have managed to suppress the outbreak using similarly draconian strategies, the report admits that it's not yet clear if suppression's successes can last in the long-term.

The state of play: The findings caused a messaging shift on both sides of the Atlantic.

The big picture: The New York Times reported that the Imperial College researchers "had shared their projections with the White House task force about a week ago and that an early copy of the report was sent over the weekend."

  • The BBC called the report the "crucial piece of evidence" that spurred Downing Street to act, saying the researchers "first realized the scale of the problem in China" and noting their "advice is heavily influential in government."

The bottom line: The report admits that "no public health intervention with such disruptive effects on society has been previously attempted for such a long duration of time."

  • "How populations and societies will respond remains unclear," it concludes.

Go deeper

Updated 38 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 13,258,016 — Total deaths: 576,752 — Total recoveries — 7,366,845Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 3,416,222 — Total deaths: 136,319 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.

3 hours ago - Health

Moderna's vaccine spurred immune system response to coronavirus

Moderna's stock rose 16% after hours on this news. Photo: Jakub Porzycki/NurPhoto via Getty Images

Healthy volunteers who took Moderna's coronavirus vaccine candidate appeared to generate an immune system response to the virus, and there were "no trial-limiting safety concerns," according to a new study published in the New England Journal of Medicine.

Why it matters: The phase one trial is still small and does not definitively determine how effective the vaccine is. But Anthony Fauci of the National Institutes of Health, which is running the trial, told the Wall Street Journal that these data make it "pretty clear that this vaccine is capable of inducing quite good [levels] of neutralizing antibodies."