While the official number of new Covid-19 cases in the United States climbs to record highs, so far the hospitalization and death rates are not following in lockstep. The running 7-day average of new cases has gone from 34,000 to 94,000 over the last eight weeks, with a one-day high on Thursday of around 118,000. Hospitalizations rose about 50% over that same period, and have actually been stable over the last three weeks. Deaths have risen from around 700/day to, this week, around 1,100/day, or less than a 60% rise. There may be worse to come, but without the improvements in both therapeutics and medical experience, worse would already be here.