COVID-19 Cases and Deaths are Falling in the USA
COVID-19 cases that began to surge in the USA in June, peaked in July, and have continued to ease leading to lower hospitalizations and deaths (see figure below). While infections continue to erupt in certain parts of the USA, the largest outbreaks in California, Texas, Florida, Georgia, and Arizona have all topped out leading to improving trends for the USA as a whole. The 7-day rolling average of daily cases has fallen from a high near 70,000 in early August to near 40,000 recently. The US can continue on this virtuous path if the President stops waffling about masks and tests. It is far too early to declare victory because part of the decline in newly confirmed cases is due to a significant reduction in testing (see figure below). The 7-day rolling average of daily tests peaked 4 weeks ago near 810,000 and has since declined 16% to near 680,000. It is unclear whether this is being driven by a President that continues to be ambivalent about doin...