Mar 17, 2020 - Health

New York suspends student and medical debt to offset coronavirus

Gov. Andrew Cuomo. Photo: Thomas A. Ferrara/Newsday RM via Getty Images

New York Gov. Andrew Cuomo and Attorney General Letitia James announced Tuesday that the state will freeze student, medical and other state-referred debt payments for at least 30 days to ease financial burdens caused by COVID-19.

The big picture: Other states and the federal government are looking at different ways to help individuals directly and indirectly impacted by the novel coronavirus, with some forced to forgo income and close up their businesses. The White House paused interest on federal student loans last week.

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U.S. coronavirus updates: Death toll tops 4,000

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

The novel coronavirus has now killed more than 4,000 people in the U.S. — with over 1,000 deaths reported in New York City, per Johns Hopkins.

The state of play: President Trump said Tuesday it's "going to be a very painful two weeks," with projections indicating the virus could kill 100,000–240,000 Americans — even with strict social distancing guidelines in place.

Go deeperArrowUpdated 5 hours ago - Health

The world's debt situation is much worse than in 2008

Illustration: Rebecca Zisser/Axios

Perhaps the biggest risk for financial markets is the potential for wide-ranging debt defaults, particularly as companies have significantly increased their debt load and more are rated at the bottom of the investment grade ratings scale.

Why it matters: The world's companies are in a much worse position amid the coronavirus pandemic than they were ahead of the global financial crisis.

Andrew Cuomo, pressed by brother, rules out running for president

A screenshot of CNN's Chris Cuomo with his brother New York Gov. Andrew Cuomo on his show Monday.

New York Gov. Andrew Cuomo (D) was repeatedly pressed by his brother Chris Cuomo on CNN Monday evening on whether he would consider running for president — and he consistently replied with a firm "no."

Why it matters: Cuomo has risen to national prominence during the novel coronavirus pandemic. Several Democrats have expressed presidential aspirations for him, even for the 2020 campaign. President Trump told "Fox and Friends" Monday he "wouldn't mind" if Cuomo did run, adding he thinks he's a "better candidate" than 2020 hopeful Joe Biden. Cuomo, for his part, said he "can't say enough good things" about Biden, whom he said was a "tremendous asset to the state of New York when he was the vice president."