A Week of Coronavirus Pain and Progress

As the number of Americans infected with the coronavirus surges, and hospitals are besieged, it can appear that America is losing the pandemic war. But in important ways the U.S. is better off at the end of March than it was a week ago, and it’s worth tracking the progress as well as the pain.

The most important good news this week is the ebbing panic in financial markets. The Federal Reserve unveiled new facilities to provide liquidity to corners of the market where anxiety had shut down trades or threatened a run. Think…

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