"Growth Rate Decline Reduced by 5% When Mask Mandates Enforced Across the US"

Goldman Sachs Proves Mask Wearing More Effective Than Economic Shutdown
Fauci States "100,000 New COVID-19 Cases Per Day in US Possible"

Director Anthony Fauci Photo by AP Yonhap News

[Asia Economy New York=Correspondent Baek Jong-min] It has been forecasted that wearing masks can reduce the decline in economic growth rate without halting economic activities.

According to CNN and other outlets on the 30th of last month (local time), the American investment bank Goldman Sachs estimated in a recently released report that "if the United States mandates mask-wearing nationwide, it can reduce the decline in economic growth rate by 5% without stopping economic activities."

The U.S. has already experienced a 5% decrease in Gross Domestic Product (GDP) in the first quarter of this year due to the COVID-19 pandemic, and warnings have been issued that it could shrink by up to 30% in the second quarter. Additionally, concerns about a second wave of infections are growing, especially in states like Arizona and Florida.

Jan Hatzius, Chief Economist at Goldman Sachs and author of the report, stated, "We found that masks have a significantly positive correlation with preventing COVID-19 infections," adding, "If mask-wearing is mandated nationwide, the daily increase rate of new COVID-19 cases, currently at 1.6%, could be lowered by about 1 percentage point to 0.6%." He emphasized, "This suggests that mask mandates and the resulting economic benefits could be substantial."

The Washington Post (WP) noted, "It is important to recognize that this analysis was conducted by an investment bank, not health experts." WP added, "While Goldman Sachs' goal is to protect investors' economic interests, their research on the effectiveness of masks aligns with studies by many other health experts."

The U.S. Centers for Disease Control and Prevention (CDC) recommended mask use in April, but nationwide mask mandates have not been implemented. President Donald Trump still does not wear a mask in official public appearances. Vice President Mike Pence only wore a mask during a recent visit to Texas, where COVID-19 cases surged rapidly.

Amid the ongoing spread of COVID-19 infections in the U.S., Anthony Fauci, Director of the National Institute of Allergy and Infectious Diseases (NIAID) under the National Institutes of Health, warned in congressional testimony that daily new COVID-19 cases in the U.S. could soar to 100,000.

At a Senate hearing held that day, Fauci said, "We are currently seeing about 40,000 new cases daily, but if we fail to reverse this trend, I would not be surprised if daily new cases rise to 100,000."

Fauci’s forecast implies that he is considering the possibility of more than doubling the current number of infections. According to data compiled by Johns Hopkins University as of the 29th of last month, the cumulative number of COVID-19 infections in the U.S. reached 2.62 million.

Fauci also stated, "I am dissatisfied with what is happening now. We are heading in the wrong direction."

This content was produced with the assistance of AI translation services.