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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Illustration: Aïda Amer/Axios

President Trump is eager to ease off of stringent coronavirus mitigation steps “soon,” he said yesterday, but that would have a calamitous impact on Americans’ health — and it’s not clear how much it would help the economy, either.

Why it matters: For now, the only way to avoid large numbers of deaths is to keep people away from each other to stop the virus' spread. And as long as the coronavirus is spreading, it’s likely to hurt the economy.

Driving the news: "This is a medical problem. We are not going to let it turn into a long-lasting financial problem,” Trump said in a press conference yesterday.

Between the lines: Missing from Trump’s rhetoric is any real acknowledgement that the situation is going to get worse in the near term.

“A policy of returning people to work too soon should be called the ‘let old people die already’ policy,” a former Trump administration official told me.

  • If Trump decides to release the brakes in a week — and if states follow suit — the number of coronavirus cases would likely skyrocket far beyond anything the health care system can handle.
  • This is when truly horrific things can happen — like patients suffering as health care providers are forced to make in-the-moment decisions of who lives and who dies.

The big picture: The number of confirmed U.S. cases is still rising at an alarming rate — and that’s not counting the thousands who have it but are unable to get tested.

  • That number is expected to continue to rise, even in states that have implemented strong social distancing measures, because it takes a few days for people who have the coronavirus to display symptoms.
  • There are also plenty of states that have yet to implement strong containment measures and plenty of people who aren’t abiding by them.

Reality check: The choice between saving lives and saving the economy may not even be a real one.

  • If the virus' continued spread causes people to still be concerned for their health, and they don't start spending money again in droves, then service workers may be putting their health back on the line for weak demand and a lackluster rebound.

The bottom line: Most of this decision-making power lies with the states states, making what Trump decides to do in the next week somewhat of a moot point.

  • But plenty of Republicans take their cues from the president, and if people try to resume their pre-coronavirus lives in the near future, the pandemic could easily spiral even further out of control.

Go deeper

Acting Capitol Police chief: Phone logs show Jan. 6 National Guard approval was delayed

Pittman at a congressional tribute for fallen officer Brian Sicknick. Photo: Erin Schaff-Pool/Getty Images

Acting U.S. Capitol Police chief Yogananda Pittman testified on Thursday that cellphone records show former USCP chief Steven Sund requested National Guard support from the House sergeant-at-arms as early as 12:58pm on Jan. 6, but he did not receive approval until over an hour later.

Why it matters: Sund and former House sergeant-at-arms Paul Irving clashed at a Senate hearing on Tuesday over a dispute in the timeline for when Capitol Police requested the National Guard during the Capitol insurrection.

Manhattan prosecutors reportedly obtain millions of pages of Trump's tax records

Photo: Al Drago/Bloomberg via Getty Images

The Manhattan district attorney is now in possession of millions of pages of former President Trump's tax and financial records, CNN first reported, following a Supreme Court ruling that allowed prosecutors to enforce a subpoena after a lengthy legal battle.

Why it matters: Trump fought for years to keep his tax returns out of the public eye and away from prosecutors in New York, who are examining his business in a criminal investigation that was first sparked by hush-money payments made by Trump's former fixer Michael Cohen during the 2016 election.

Dion Rabouin, author of Markets
4 hours ago - Economy & Business

The digital dollar is now high priority for the Fed

Illustration: Aïda Amer/Axios

The U.S. is starting to get serious about a central-bank-backed digital currency, with recent comments from top officials laying out the strongest support yet.

Driving the news: On Tuesday Fed chair Jerome Powell told Congress that developing a digital dollar is a "high priority project for us," but added that there are "significant technical and policy questions."