Feb 25: The Army’s medical intelligence center raises its warning that the coronavirus would become a pandemic within 30 days from WATCHCON 2 — a probable crisis — to WATCHCON 1 — an imminent crisis. The warning is provided in an intelligence briefing to the Joint Chiefs of Staff two days later. Dr. Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, in prepared remarks, states that the outbreak is inevitable and may lead to severe disruption to everyday life.   HHS Secretary Alex Azar seeks to quell concerns following Messonnier’s comments . He says the disease is “contained.” Larry Kudlow, the President’s National Economic Council Director is asked about Dr. Messonnier’s comments. He tells CNBC, “We have contained this. I won’t say airtight, but it’s pretty close to airtight.” “I don’t think it’s going to be an economic tragedy at all,” he adds. Kudlow privately delivers a more ambiguous forecast of the situation to board members of the Hoover Institution. William Callanan — a member of the Hoover board of overseers and major hedge fund consultant — circulates a memo to hedge fund founders, senior business owners, and wealthy private investors warning that the spread of the virus may be more serious than what the White House is reporting publicly and that the nation’s health agencies appear unprepared. Chad Wolf at the Department of Homeland Security says that the new virus has the same mortality rate as the flu. U.S. stocks plunge for a second straight day, capping their worst two-day loss since 2008.*