80% of those 65 and older, have received at least one dose of vaccine, CDC data shows

Fed Chair Powell says economy about to grow much quicker due to vaccinations and fiscal support

Source: CNBC

By Tucker Higgins

KEY POINTS

  • The U.S. economy is at a turning point thanks to government support and a speedy campaign to inoculate Americans against Covid-19, Federal Reserve Chair Jerome Powell said in a new interview.
  • “What we’re seeing now is really an economy that seems to be at an inflection point,” Powell told Scott Pelley during an interview that will air Sunday evening on CBS News’ “60 Minutes.” CBS released a portion of the interview earlier Sunday.

The U.S. economy is at a turning point thanks to government support and a speedy campaign to inoculate Americans against Covid-19, Federal Reserve Chair Jerome Powell said in a new interview.

“What we’re seeing now is really an economy that seems to be at an inflection point,” Powell told Scott Pelley during an interview that will air Sunday evening on CBS News’ “60 Minutes.” CBS released a portion of the interview earlier Sunday.

“We feel like we’re at a place where the economy’s about to start growing much more quickly and job creation coming in much more quickly,” Powell said. “So the principal risk to our economy right now really is that the disease would spread again. It’s going to be smart if people can continue to socially distance and wear masks.”

Powell’s comments come as U.S. stock indices are at record levels thanks in part to optimism about the reopening of the economy. Investors will be watching closely next week as earnings season kicks off and company leaders issue forecasts for the coming year.

The nationwide vaccination drive has been speeding up in recent weeks, with nearly every state making all adults over 16 years old eligible for shots.

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Categories: Vaccine

1 reply

  1. The lower protection rates of China’s Covid-19 vaccines have raised concerns about shots that are key to inoculation rollouts from Brazil to Indonesia, especially after their efficacy was questioned by one of the most senior Chinese health officials.

    Bloomberg spoke to two experts about the vaccines, zeroing in on the Sinovac Biotech Ltd. shot, which has been the focus of a crisis in confidence after it posted efficacy levels of just above 50% in a final stage trial in Brazil — the minimum required by leading global drug regulators. Other Chinese immunizations have delivered rates between 66% to 79%, still far below the shots developed by Pfizer Inc., Moderna Inc. and even Russia’s Sputnik vaccine that have logged protection rates of more than 90%.

    Low Efficacy of Chinese Shots Sows Concern on Global Rollout

    More than 30 countries have rolled out the Sinovac shot, most of them in the developing world, but also Hong Kong. The vaccine is key to China’s own mammoth push to inoculate 560 million people — 40% of its population — by the end of June.

    https://www.bloomberg.com/news/articles/2021-04-13/are-china-s-covid-shots-less-effective-experts-size-up-sinovac?sref=eGA8az79

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