Unemployment Claims Hit Three-Month High
December 18, 2020
New U.S. unemployment claims spiked to the highest level in three months, signaling a further delay in the US recovery. More than 20.6 million Americans are claiming some type of unemployment benefits, while untold millions mores have exhausted them entirely.
Moderna’s Covid-19 vaccine won approvable from a key advisory panel. This likely opened the door for this vaccine being available very soon. All the news about vaccines and their roll out continue to be the story even as cases of Covid-19 continue to rise. US Health and Human Services Secretary, Alex Azar, said nearly 6 million doses of Moderna Inc’s experimental COVID-19 vaccine were poised to ship nationwide as soon as it secures Food and Drug Administration approval.
The Fed Chairman Jerome Powell continues to stick to his story that the economy is improving, but the next few months will be challenging. The Fed continues to see rates near zero at least through 2023.
Another stimulus measure is still being debated in Congress and is coming down to the wire, but most people and the markets seems to believe something will get done very soon.