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Don't count too much on Covid-19 vaccine, warn Powell and Lagarde

On Monday, the pharmaceutical company Pfizer announced encouraging results from its vaccine trials, nudging stock markets toward new heights

Christine Lagarde
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Lagarde, explaining that she did not want to be “exuberant” about the treatment, also pointed to uncertainties — about the logistics, and about how many people will actually be vaccinated in 2021

Jeanna Smialek, Emily Cochrane, Nicholas Fandos & Alan Rappeport | NYT Washington
Two of the world’s most powerful central bankers said on Thursday that economic risks from the coronavirus remain high, and they cautioned against putting too much faith in a quick fix from a vaccine, delivering a sober message as US lawmakers signalled that another stimulus package was unlikely before year’s end.

“The next few months could be challenging,” Federal Reserve Chair Jerome H Powell said during a webcast panel discussion, where he appeared alongside his European counterparts. Both Powell and Christine Lagarde, head of the European Central Bank, warned that while recent progress toward a vaccine was welcome news, it was