Dec 15, 2020
Clearing the way for another vaccine approval
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The FDA said today that Moderna's vaccine candidate has been found to be safe and 94% effective. Plus, the latest on the pandemic economy from the Federal Reserve. And, the future of organized labor under the Biden administration.
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FDA analysis says Moderna's shot has been found to be safe and 94% effective
In other words, a second coronavirus vaccine could get approval later this week. Marketplace's Erika Beras reports.
The Fed has done a lot to try to prop up the economy during this pandemic. Is there more it can do?
David Kelly, chief global strategist at JP Morgan Funds, says "the Fed has been very empathetic, they've been very determined from the start to do everything they can do to help the economy. And they have certainly given us very low interest rates, and I expect them to continue to do that." The issue, Kelly said, is that "the problems that the country faces right now, in terms of this huge pandemic, and also the fiscal gridlock, these are problems the Federal Reserve can't solve." One bright spot, however, is that with low interest rates, it "actually allows the federal government to spend a lot more money if it wants to, without running into fiscal problems. So we can push through a new fiscal package, a big one, without negative financial consequences." The problem, of course, is the lack of consensus among lawmakers in Washington.
The president-elect is expected to roll back Trump administration rulings.
David Brancaccio Host
Nicole Childers Executive Producer
Victoria Craig Producer, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Engineer
Brian Allison Engineer
Alex Schroeder Digital producer
Meredith Garretson Producer
Erika Soderstrom Producer/Director