https://www.economist.com/finance-and-economics/2020/11/14/what-a-vaccine-means-for-americas-economy
The news of a vaccine may curb the threat of the US economy sliding into a recession. Before the news of a vaccine was publicized the US economy was already recovering better than what was predicted. With many countries in Europe begging shutdown and lockdowns the US will likely follow suit in the next coming months but not as severe as European countries, these more relaxed restrictions will help the economy not lose much momentum on its journey of recovery. As the news of the vaccine breaks the chance of having a vaccine will only help our economy in it a trend to pre covid levels, all this being said the economy is still not predicted to be in the state it was in before covid until 2022 or even later but the signs of a vaccine will help the US decrease it record-breaking infection rate. Everything in the US economy seems to be trending in the right direction but we must keep in mind that these future lockdowns will hamper economic growth and employment growth. The delay of stimulus packages being passed is also a problem we will have to face. Even though the signs of a vaccine have appeared, the economy can still be set back by the constant increase in covid cases through the US, we still have a long road to travel to fully recover but it seems the road is paved for us to travel.
What do you think the act of having a vaccine will have on the economy and do you think it will come in time before the US sees lockdowns and restrictions?
I think the vaccine will strengthen the economy because consumer confidence will rise. People will have more faith in the US's economy in the future. I feel like it won't be long before another shutdown because Biden will have stricter policies, but I don't think there will be any serious shutdowns until after inauguration day.
ReplyDeleteConsumer confidence will certainly rise as Libby said, and we saw that in stock market booms at the beginning of this past week. However, I highly doubt it will be readily available to the public to stop lockdowns. This time of year holidays like Thanksgiving, Christmas, and New Years usually yield a very high level of traveling. The Biden administration will likely try to curb that travel to decrease the spread of the disease.
ReplyDeleteThe hopes of a vaccine will give a short term gain in consumer confidence. It is still a decent amount of time before the vaccine is actually approved, and even longer before it is distributed in mass. This news of a vaccine, and boost in consumer confidence does come at a good time, it is holiday season so that means holiday spending. This will hopefully help out with Q4 GDP.
ReplyDeleteWhen it comes to lockdowns, there will probably be some form of lockdown in Ohio, and probably similar restrictions in other states. The lockdown will most definitely not be good for the economy, especially since there has not been a stimulus check passed in many months, and we will probably not get a new one until January 2021.
I agree with Libby. A vaccine will begin the steps to bringing the economy back how it was before with a higher consumer confidence and a stronger economy. Given the recent change in administration, I believe it will take some time before anything like a lockdown is imposed.
ReplyDeleteRecent vaccine news suggests doses will be rushed to market and could be widely available before the end of the first quarter. This is good new for the economy and public health but it will be interesting to see if fear about vaccines in general, the need for multiple doses, and the speed of bringing this particular vaccine to market will keep people from getting vaccinated.
ReplyDeleteI think that the presence of a vaccine will positively impact the economy. This will allow many people that have been laid off to get back to work and will allow restaurants and similar places to have more people at one time. I don't think that the vaccine will be around before more lockdowns are put into place. I think the lockdowns are coming soon and I don't see the vaccine being readily available to the general public until mid to late 2021.
ReplyDeleteNo one can be sure of the time since the talk of the vaccine has been going on for a long time. The economy for sure, will rise substantially since Pfizer (the company that is developing the vaccine) would be able to boost it's stocks along with the economy of the country. I believe the US might be able to avoid a lockdown since the 90% vaccine has been published, however, I cannot say the same for other countries because they would have to stay in lockdowns because priority would be the states.
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