On Thursday (25th) U.S. Treasury Secretary Janet Yellen pointed out in a letter to the finance ministers of the Group of 20 (G20) that universal vaccination is the “most powerful” stimulus that countries around the world can provide to the global economy the way.
Yellen pointed out to finance ministers including China and India: “A fast and truly global vaccination program is the most powerful stimulus we can provide to the global economy.”
Ye London urged G20 member states to expand vaccine assistance to countries around the world, and called on them to continue to adopt major fiscal and financial policies to stimulate economic recovery.
After Biden took power, the United States began mass vaccination. With the efforts of all parties, the infection situation in the United States in February was significantly eased compared with January. Health experts analyzed the three major factors contributing to the improvement of the epidemic in the United States: vaccination, reduced travel and gathering of people, and estimated that 90 million people in the United States have COVID-19 antibodies.
On the other hand, the job market has already responded positively after the epidemic eased. The number of initial unemployment benefits announced on Thursday fell sharply by 110,000 to 730,000, the lowest in more than two months.
In addition, as of the week of February 13, the number of continuous claims for unemployment benefits in the United States reached 4.419 million, which was better than the expected 4.46 million. The previous revision was up to 4.52 million.
The number of people receiving unemployment benefits in the United States has dropped sharply, which means that with the decline in the infection rate of the new crown epidemic and the acceleration of vaccination progress, the US labor market has begun to gradually warm up. As long as more Americans are willing to be vaccinated in the future, the US economy will be on track.
US 1.9 trillionUSDThe fiscal stimulus package will also be voted on by the US House of Representatives on Friday (26th). This stimulus package has been approved by the US House of Representatives Budget Committee this Monday. Through more relief measures to alleviate the negative economic impact of the new crown pneumonia epidemic is Biden’s priority.
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