The economy caught fire in the spring and it's still running pretty hot this summer, but a new strain of the coronavirus is threatening to cast a chill over...
The U.S. economy caught fire in the spring and it’s still running pretty hot this summer, but a new strain of the coronavirus is threatening to cast a chill over the recovery.
The reaction so far? Not much. Los Angeles County recommended that residents wear masks again, but it’s one of the few governments to do so. “As long as the government and the Fed keep pumping things up, it is hard to see how the markets can stay down for an extended period,” said chief economist Joel Naroff of Naroff Economic Advisors.
Households are spending freely and businesses just can’t keep up with demand. One of their biggest problems is finding enough workers.So far most people who are catching it are unvaccinated. So-called break-though cases among the vaccinated, meanwhile, are not inducing many severe reactions or deaths.
Perhaps the most realistic danger for now is that the delta variant will spread more rapidly around the world and further disrupt global suppy chains that have been strained by the pandemic.
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