As U.S. Prospects Brighten, Feds Powell Sees Risk in Global Vaccination Pace

By Jeanna Smialek3 days ago

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Some countries are lagging behind in vaccinations, and policymakers warned that no economy is secure until the world is safe from coronavirus variants.

Jerome H. Powell, the Federal Reserve chair, stressed on Thursday that even as economic prospects look brighter in the United States, getting the world vaccinated and controlling the coronavirus pandemic remain critical to the global outlook.

Viruses are no respecters of borders, Mr. Powell said while speaking on an International Monetary Fund panel. Until the world, really, is vaccinated, were all going to be at risk of new mutations and we wont be able to really resume activity with confidence all around the world.

While some advanced economies, including the United States, are moving quickly toward widespread vaccination, many emerging market countries lag far behind: Some have administered as little as one dose per 1,000 residents.

Mr. Powell joined a chorus of global policy officials in emphasizing how important it is that all nations not just the richest ones are able to widely protect against the coronavirus. Kristalina Georgieva, the managing director of the International Monetary Fund, said policymakers needed to remain focused on public health as the key policy priority.

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