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The US monetary policy is still under pressure from the pandemic
The US monetary policy still depends on the coronavirus pandemic. In recent 5-6 months, the epidemiological situation has somehow improved. Scientists have created vaccines, and in most developed countries, more than a half of the population have already received their doses. However, it does not mean that people are fully protected. The threat for people and the global economy still exists.
For example in the UK, adults have already received both doses and the government has launched the vaccination program among young people. Nevertheless, the daily number of coronavirus cases totals 25-30 thousand. Of course, now people who catch the virus do not suffer as earlier. Hospitalizations or complications are not frequent. However, the virus is constantly mutating and becoming more resilient to the existing vaccines. A new strain may appear at any moment. It could cause serious consequences even despite the vaccine. Thus, the global economy is still under threat.
At the same time, the US chief epidemiologist, Anthony Fauci, announced that the pandemic would end in spring 2022. Notably, he did not provide any ground for such a forecast, saying that it was really difficult to predict something concerning the pandemic. He also emphasizes that there is no accurate answer to this question. The virus has deceived doctors and scientists from all over the world several times already. This spring, the number of new virus cases was actively falling, but then, the Delta strain came as a surprise. At the moment, 130-140 thousand cases are recorded every day.
At the moment, US citizens older than 65 are advised to receive their third vaccine as a booster. According to the estimates, one in 500 citizens died because of COVID-19. Notably, the pandemic has been lasting for 19 months already. Scientists emphasize that the virus is spreading despite masks, testing, social distancing, and vaccinations. The government urges everyone to get vaccinated in order not to weaken herd immunity. Although the pace of the US economic recovery is quite fast, new virus-induced problems may slacken the process.
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