Coronavirus cases in U.S. exceeds 100, Fed acts to shield economy

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A 50-year old man who lives in a New York City suburb and works in Manhattan tested positive for the coronavirus. Officials are trying to track down others who may have had contact with the patient

NEW YORK - A New York man tested positive for the novel coronavirus, bringing the total of confirmed cases in the state to two, officials said on Tuesday, as the number of infections in the United States rose above 100 and the central bank acted to protect the economy.

There are now 108 people in 12 states with confirmed cases, including 11 through person-to-person transmission, according to U.S. health officials. Previously, all testing was conducted by the federal Centers for Disease Control and Prevention , a process that created in a delay of several days before the result was known.

The U.S. House of Representatives is aiming for Wednesday to debate a multi-billion-dollar bill providing emergency funds. U.S. President Donald Trump on Tuesday said his administration was working with Congress to pass an emergency spending measure, adding that he expects lawmakers to authorize about $8.5 billion.

Nevertheless, on Tuesday the U.S. Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from major disruptions. The Fed said it was cutting rates by a half percentage point to a target range of 1.00% to 1.25%.

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