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A Cliche, I Know.
As the curtain closed on the second quarter, market participants were regaled by Jerome Powell, Steve Mnuchin, and Anthony Fauci, all of whom spoke to lawmakers on the last day of a truly historic first half.
All three men generally stuck to their respective scripts. For Fauci, the nation's top infectious-disease expert, that meant warning a Senate panel that the rate of new coronavirus cases in the US could exceed 100,000 per day if the public doesn't start taking things more seriously.
"The
Gosh, at 100,000 new cases a day that would mean we might need up to $9,600,000,000 worth of Remdesivir a month. And that assumes it doesn’t get worse. Good thing Gilead is sacrificing like they are. We are at war.