The US economy can’t reopen without widespread coronavirus testing: Getting there will take a lot of work and money – CNBC

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The Rockefeller Foundation’s plan does not estimate that the U.S. workforce will be be back to normal any time soon.

And while the foundation’s projections for the number of needed tests might seem high to some people, it comes on the heels of projections published by the Edmond Jr. Safra Center for Ethics last week.

“These [projections] suggest that, depending on what tracing technology is used in conjunction with testing, at least millions and possibly hundreds of millions of tests per day will be needed,” that analysis said.

“While we estimate that such capacity is possible by late spring or early summer,” the authors wrote, “we must invest much more aggressively if we are to allow a return to work.”

Dr. Scott Gottlieb, the former head of the Food and Drug Administration, and a CNBC contributor, has called for a plan that would test anyone who visits a doctor, which would be nearly 4 million people per week.

But Gottlieb also said in a Vox interview this week that getting to the point where the United States has the capacity to perform 2 million to 3 million tests each week “is going to be very hard.”

He said it would be possible to reach that level by September,  but added that Congress would need to support that effort.

Former Vice President Joe Biden, the presumptive Democratic nominee for president, said Thursday, “I say we should not send you back to work till it’s safe to send you back. This is a false choice.”

“The way you revive the economy is you defeat the disease,” said Biden, who argued that widespread testing will be needed to determine who can return to work, and which workplaces and public spaces can be opened again.

BlackRock CEO and co-founder Larry Fink, said during an interview on CNBC’s “Squawk Box” on Thursday: “We’re going to still see elements of the disease increasing in other parts of the world and until we have adequate testing, rapid testing, it’s very hard to see how we’re going to reboot in the next 30 days.”

Fink said he expects that treatments for Covid-19 could be improved to speed up that economic rebooting, “But it may not be in June or July. It may be in August.”

He noted that a number of business leaders told Trump during conference calls on Wednesday that “we need to have adequate” testing “to make sure we have a secured environment.”

Trump himself this week said, “Our country has to get open, and it will get open, and it will get open safely and hopefully quickly. Some areas quicker than other areas.”

The president, who is running for reelection this fall, also claimed “there’s tremendous testing, and the governors will use whatever testing is necessary, and if they’re not satisfied with their testing, they shouldn’t open.”

But Trump’s own leading infectious disease adviser, Dr. Anthony Fauci, told the Associated Press in an interview Tuesday that the U.S. is “not there yet” in having enough testing capability or contact tracing systems in place to rely on for reopening the economy.

Source Article from https://www.cnbc.com/2020/04/16/coronavirus-testing-needs-to-be-widely-done-before-economy-reopens.html

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