March 3, 2020
Let us know of any concerns, or measures your business is taking here.
- Businesses and community organizations are urged to partner with state and local officials on contingency plans.
- Improvements are being seen in China, but the outbreak is worsening elsewhere. The average American is at a very low risk of contracting COVID19.
- Ultimately business and the markets want to avoid uncertainty. Due to the unpredictability of COVID19, the federal government is working to manage the uncertainty through a number of steps:
- The goal is to slow the spread of the disease in the US, not to create an impenetrable barrier. The longer the spread can be delayed, the more time can be bought to deliver a comprehensive response.
- Treasury is closely monitoring supply chain issues that are arising. Because we are coming into this health crisis with a very strong economy, our economy will be able to weather this storm.
- G7 finance minister are meeting tomorrow to discuss economic impacts of the virus.
- A congressional emergency funding package is forthcoming. A vote to approve this funding is expected on Wednesday.
- The goal for businesses is to reduce work-related exposure. Businesses are urged to look at their leave policies and it is suggested that flexible work schedules/work from home is permitted to reduce crowding in the office. Contingency plans should be put in place to ensure essential functions are being covered.
- Businesses should reassess large meetings or gatherings. Rethink conferences and travel as it may be difficult to return to the United States/the office.
- Businesses should consider increasing the frequency of workplace cleaning services.