“What we’ve seen … is with successive waves of Covid over the past year and some months now, there has tended to be less in the way of economic implications from each wave,” Federal Reserve Chairman Jerome Powell said last week. Many would have gone out of business if they hadn’t adopted so quickly. That’s almost three times higher than a year ago and not far from the post-pandemic high set just two weeks earlier.Ĭompanies, meanwhile, have adopted all kinds of strategies to make their workplaces safer for employees and customers. Some 2.06 million flyers went through U.S. While millions are also taking extra precautions, they are still flying, traveling and going out in much greater numbers than at any time since the pandemic began in early 2020. “We’re not going to lock down our economy or our schools because our country is in a much stronger place than when we took office.”Īmericans, for their part, are tired of being cooped up. “This is not March 2020, or even January 2021,” White House spokeswoman Jen Psaki said on Friday. Some 70% of American adults have received at least one vaccination shot and they appear well protected from severe health effects even if they get infected with the highly contagious delta strain. The high level of vaccinations across the U.S. “This will help to minimize the impact of the latest case surge on economic activity and job creation.” “We do not expect state authorities to implement another wave of Covid-19 restrictions, beyond mask mandates or capacity restrictions for some businesses,” said Cailin Birch, global economist at The Economist Intelligence Unit. Officials have reimposed indoor mask mandates in some places and adopted a few precautionary measures, but they have avoided sweeping restrictions that would do harm to the economy. This time around, governments have been especially cautious about adding new restrictions on businesses and consumers.
Companies briefly stopped hiring in December and then quickly went back to adding workers once the vaccination rollout began. experienced its biggest Covid wave of all, the economy kept growing. After dealing with the pandemic for a year and a half, individuals, companies and governments have learned how to cope with the pandemic.Įven last winter, when the U.S. Perhaps it shouldn’t come as a surprise the delta strain hasn’t made a big dent in the U.S.
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