The Welcome to the Real Vision Daily Briefing. I'm Peter Cooper. It's Tuesday, May 12th.

We have Edin Ash standing by, but first, let's go over the latest in the news.

At yesterday's news conference, President Trump announced that the

U.S.'s testing capacity is, quote, unmatched and unrivaled anywhere in the world,

end quote, and that we quote, have met the moment, and we have prevailed.

The President and others compared their success to South Korea's testing efforts,

with the implication that the U.S. has done a better job.

Today, the Senate had a hearing with Dr. Anthony Fauchy, Dr. Robert Redfield, Admiral Brett Juar, and Dr. Stephen

Han. Their testimony indicates that the premature reopening of the economy would lead to serious

consequences. Some senators focused on the bottlenecks involved in administering

the tests required to control the spread.

Yesterday, the U.S. conducted over 388,000 new tests. However, public health experts

are saying that the U.S. needs to reach 2 to 3 million

tests per day to curb the outbreak.

Admiral Jawar stated that by September, the country will be able to conduct 40 to 50 million

tests a month.

In other words, it may take months to get the level of testing required to move the U.S. and its

economy back to normalcy as we wait for a vaccine and treatments.

Also today, the Fed is launching their corporate bond buying

EDF program through the secondary market corporate credit facility or the SMCCF.

It's the first time since the 50s that the Central Bank will be stepping into corporate

debt to keep markets afloat. The New York Fed released in a statement yesterday that the

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