[ad_1]
CNBC reported on Nov. 11 that Michael Darda, chief economist and macro strategy at MKM Partners, said: “The surge in the US stock market this week was driven primarily by the upcoming launch of the Pfizer vaccine, but investors should not be overly optimistic about vaccine promotion. And distribution takes time. If we relax our vigilance, the economy is likely to partially shut down again. “
Dada stressed that while the pace of economic recovery has exceeded Wall Street expectations, the increase in cases of the “Chinese communist” virus in the United States is certainly a threat. Expect the economy to fully recover by the end of 2021.
Eric Rosengren, president of the Federal Reserve Bank of Boston, also told CNBC that while the news about vaccine availability is good, it is too early to judge that the epidemic has passed. There is a clear rebound, before that, Congress should implement new financial support measures to alleviate the difficulties.
Dr. Michael Osterholm, an epidemic adviser to self-proclaimed Democratic candidate Biden, said that if the United States completes a four- to six-week lockdown, it will help fight the epidemic. This also confirms President Trump’s emphasis on the presidential debate. Biden will block US views if elected.
Osterholm said: “We can pay all the salaries, the income of the self-employed and compensate the losses of the small and medium enterprises, the municipal, state and county governments through the rescue plan.” But he did not elaborate on the origin and scale of the funds.
In fact, in recent months, Congress has been unable to agree on a financial aid plan, which includes expanded unemployment benefits, economic stimulus payments, small business loans and other measures.
In March of this year, the Trump administration approved the first financial aid program, the CARES Act, which includes $ 1,200 in cash grants, loans, and a weekly federal unemployment benefit of $ 600.
Dr. Osterholm, who served as director of the US Centers for Disease Control and Prevention, said that implementing a nationwide lockdown for 4-6 weeks can control the number of new diagnoses and hospitalizations, which will help prevent the spread of the epidemic before the vaccine is available; The question is whether it violates the US Constitution, it is debatable, and how feasible the nation’s “country shutdown” is. When the epidemic in New York was its worst before, Democratic Governor Cuomo also adamantly refused to shut down the city.
