: The Latest One year after George Floyd's death. President Joe Biden had set Tuesday, the anniversary of Floyd's death, as a deadline for a compromise policing reform bill. That deadline will be blown. The President did meet with Floyd's family at the White House on Tuesday.
We know what to do. 50 years ago, the US government set up a commission to figure out how end racism and lawmakers predicted a growing racial divide. The answers are here, we just haven't done enough to address them. Read these decades-old recommendations. They could have been written yesterday.
Absolute immunity includes the power to incite insurrection, apparently. From CNN's report: Former President Donald Trump argued in DC District Court that his bully pulpit message to his supporters at the political rally on January 6 -- encouraging them to oppose Congress certifying the vote -- was a constitutionally protected act of the presidency.
"While holding that office, former President Trump was free to advocate for the appointment and certification of electors, just as he was entitled to advocate for the passage or defeat of a constitutional amendment, or the reconsideration of a congressional act over his veto even though the President does not directly participate in those congressional acts," Trump's private attorney Jesse Binnall wrote in a response in court
The Fed's $9 trillion problem. Strong edition of our Before the Bell newsletter: Big picture: Investors have become hooked on easy money from central banks like the Fed, whose decision to slash interest rates to rock bottom and buy up hundreds of billions of dollars in bonds fed the market's rapid rebound after the initial coronavirus shock.
But such policies have also handed central banks huge power to dictate market outcomes, making it harder for them to pivot down the line. See here: The Fed's balance sheet increased to $7.4 trillion last year, the highest level on record, according to a new report from the Federal Reserve Bank of New York. By 2023, it could grow to $9 trillion, it projects. That's almost as much as the combined annual GDP of Japan and Germany — and means policymakers can't afford to make a mistake.
Separately, planes are filling up, and tickets, like everything else right now, are expensive. : Where Covid came from The United States is closer than ever to beating Covid-19, with half the country vaccinated and more restrictions lifting.
But we're as far as ever from knowing how this virus, which shut down the world, came to be -- which is as frightening as anything, since there's growing suggestions that it didn't just occur naturally, as many experts have long argued.
The US, with increasing urgency, is calling for more study, warning about the stakes for future pandemics, and more openly considering the idea that mistakes or an accident in a Chinese lab caused the Covid-19 pandemic.
The Chinese government says case closed.
What's new? A US intelligence report found that several researchers at China's Wuhan Institute of Virology fell ill in November 2019 and had to be hospitalized, a new detail about the severity of their symptoms. It's not clear the researchers contracted Covid-19 and the lab strongly denied the report, calling it a lie to push the so-called lab-leak theory for the disease origin.
Scientists affiliated with the institute have previously said the institute did not come into contact with Covid-19 until December 30.
The US had actually provided some funding for the study of coronaviruses and their transmission through bats, which had made it to the Wuhan Institute of Virology.
On Capitol Hill Tuesday, Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, said it would have been a "dereliction of duty" not to fund earlier coronavirus research in bats in China. "You don't want to study bats in Fairfax County, Virginia, to find out what the animal-human interface is that might lead to a jumping of species," Fauci said, adding the US had to go "where the action is."
Separately, at the White House, Fauci said many scientists still believe the disease occurred naturally, but it's also imperative to get to the bottom of it with more investigation.
An adviser for the World Health Organization, Jamie Metzl, said the lab-leak theory is possible while scientists were "poking and prodding and studying" viruses with the good intention of developing vaccines.
"Then I believe what possibly happened was there was an accidental leak followed by a criminal cover-up," said Metzl, who served in the Clinton administration in the US Department of State and is a senior fellow at the Atlantic Council.
Fauci, the top infectious disease expert in the US, also said this week he is not convinced the disease occurred naturally and pushed for more investigation.
That is the takeaway here: There needs to be more investigation.
The official word on the origin of Covid-19 is not good enough. An in-depth study conducted by the WHO with the Chinese government, published in March, explored different possible origins of the disease and concluded that while it was not yet provable how the disease evolved, it was likely it was transferred to humans either directly from bats, or more likely from an intermediate species that got it from bats and then passed it along to humans.
The WHO report argued the lab-leak theory was "extremely unlikely," although it cited the lack of infected lab workers before December as an argument against the theory. The US intelligence report now suggests lab workers were sick earlier than December.
Further, even when it was published, WHO officials called for additional investigation and openness from the Chinese.
Coverups early on. Early in the outbreak, which China did not appropriately warn the world about, Chinese officials blamed transmission on an early hotspot, a seafood market in Wuhan, although that seems now to be essentially a lie, according to Metzl.
In fact, there's ample evidence the Chinese government tried to cover the existence of the virus up. In February, CNN published a look at whistleblowers and truthtellers who warned of the virus as it was taking hold, and who paid the price. Some have gone missing, others have been detained by Chinese authorities, while others contracted and died from Covid.
That report includes a timeline of warnings from doctors in China compared to inaction by the government.
"Whatever the origin of the pandemic, that first month when China was spending all of its energy trying to cover things up rather than fix the problem, that was what allowed the stove fire to become a kitchen fire to become a house fire to become a world fire," Metzl said.
China has been unwilling to submit to an open investigation; it insisted on strict parameters for the earlier WHO study. The US government and others have criticized that lack of transparency and the WHO has also called for further study. The Biden administration has re-joined the WHO after the Trump administration pulled the US from the global health organization.
Need for more study. A group of prominent scientists with relevant experience criticized the WHO report for not taking the lab-leak theory seriously enough -- it was dismissed in a few pages of a several hundred page report.
"We must take hypotheses about both natural and laboratory spillovers seriously until we have sufficient data," the scientists wrote in Science Magazine.
Closed doors have also helped conspiracy theories grow. The more evidence there is for the lab leak theory, the more it validates people like Arkansas Republican Sen. Tom Cotton, who has pushed the idea that the virus was created intentionally as a bioweapon. There's no evidence specifically supporting that claim and experts still say it is unlikely. The Washington Post published a look at how questions -- raised by Republicans like Cotton as well as members of the Trump administration, and now of the Biden administration -- have led to a reassessment of the origins of the disease, which have not definitively been traced.
Dr. Paul Offit, an infectious disease expert at the University of Pennsylvania Perelman School of Medicine told CNN's Wolf Blitzer it was unlikely the Wuhan lab had manipulated the virus to make it more contagious using controversial gain of function research, but we've got to find out.
This will happen again. While Chinese authorities have stayed unwilling to allow such an open investigation, Offit said the world needs it in order to guard against another pandemic.
"What I do know is they have to allow this," Offit said. "This is now the third pandemic strain that has raised its head in the last 20 years. The first was SARS 1, the second was MERS. I think that we can assume that we're not done with this."
And, he went on: "I think that we need to be able to know this the minute it happens. I mean it is unfair that we had to rely on a whistleblower in China to tell us that there was a virus that was circulating in Wuhan that was killing people. That delayed things. It didn't give us the chance to act as quickly as we needed to act and I think they are culpable on that one." : What are we doing here? We're trying to connect the dots at a time of political, cultural and economic upheaval. All CNN Newsletters | Manage Profile
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