Oct 15, 2017

Puerto Rico's governor sets goal to restore island's power by December

Rebuilding a hurricane-ravaged house in Puerto Rico. Photo: Ramon Espinosa / AP

Puerto Rico Gov. Ricardo Rosselló hopes to make sure 95% of the island has power by December 15. His goal is to restore power to 30% of Puerto Rico by the end of October and to 50% by November 15, Rosselló said at a press conference. Currently, only 15% of Puerto Rico has electricity after Hurricane Maria destroyed power lines across the entire island.

Rosselló's quote: "This is an aggressive agenda but we cannot be sort of passive in the face of Puerto Rico's challenges. We are going to need all hands on deck."

The state of recovery:

  • Authorities initially estimated it would take 6 months to a year to get Puerto Rico's power grid, which was already in disrepair, up and running.
  • FEMA says 19,000 military and civilian rescue workers are in Puerto Rico and the U.S. Virgin Islands, per NBC.
  • The death toll in Puerto Rico has risen to 48, with residents killed both directly by the storm and by exposure to contaminated water in the weeks since, per AP.
  • As of Saturday, 64% of the island has access to clean water, NBC reports.

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Backed by the Fed, bond investors get bullish

Illustration: Sarah Grillo/Axios

The Fed's massive injections of liquidity have reopened much of the bond market, and after back-to-back weeks in which more than $100 billion flowed out of bond funds, investors have regained their bearings and now see opportunity.

What's happening: But after the hemorrhaging outflows relented last week, bulls may now be sticking their heads out a bit too far. Junk bond funds took in more than $7 billion for the week ended April 1, according to Refinitiv Lipper, setting a new weekly record.

What top CEOs fear telling America about the coronavirus shutdown

Illustration: Eniola Odetunde/Axios

Top CEOs, in private conversations and pleas to President Trump, are warning of economic catastrophe if America doesn't begin planning for a phased return to work as soon as May, corporate leaders tell Axios.

Why it matters: The CEOs say massive numbers of companies, big and small, could go under if business and government don't start urgent talks about ways groups of workers can return.

Health care workers vs. the coronavirus

Photo Illustration: Sarah Grillo/Axios. Photos: ANGELA WEISS/AFP via Getty Images, Bruce Bennett/Getty Images, and Europa Press News/Europa Press via Getty Images

Health care workers are at an especially high risk of catching the coronavirus, because of their prolonged exposure to patients who have it. Making matters worse, the U.S. doesn't have enough of the protective equipment, like masks and gloves, that keeps them safe.

And yet these workers, with loved ones of their own, keep showing up at hospitals across the country, knowing that more Americans than they can possibly care for are depending on them.

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