We are several months into the COVID-19 pandemic. Governments around the world have instituted measures to contain the virus, with varying degrees of scope and success. Lockdowns, quarantines and policies of social distancing are among the tools that have been deployed to help mitigate the spread. Naturally, these policies have upended the day-to-day lives of a large percentage of the world’s population.
We are inundated with grim news of death tolls and economic strife, which are very real and need to be considered. Despite the tragedies that permeate our society, there is good news. The following are just some recent developments that give us reasons to be optimistic:
· New cases, hospitalizations and deaths related of COVID-19 are dwindling internationally in some major cities which were considered COVID-19 “hotspots,” such as New York City and London, per their respective government statistics.
· Scientists are generally optimistic about the prospects of a viable vaccine and treatments being produced in record time. One development includes biotech company Moderna reporting promising vaccine trials on humans. Another one involves researchers at Beth Israel Deaconess Medical Center in Boston showing a prototype vaccine that effectively protects monkeys from infection, which, according to the researchers, lays a solid foundation for an effective vaccine for humans.
· Early predictions released showed that charitable giving and philanthropy would increase in 2020. The effect of COVID-19 on these projections however is unknown. One positive preliminary indicator via Fidelity Charitable reported an 18% increase in total grants by its donors so far this year relative to 2019.
Of course, we are not out of the woods yet. Governments and individuals still have to remain cognizant of the dangers COVID-19 presents and be vigilant in mitigating its effects, not to mention the potential of a resurgence. Regardless, we should do so with the understanding that humanity has time and again shown its ability to adapt and eventually overcome rough times.
This article is not intended as individualized legal or investment advice