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Two senior Federal Reserve officials lamented the U.S. failure to control the coronavirus pandemic, which stood in poor comparison with efforts in other advanced countries and was undermining the nation’s economic recovery.
Drawing a strikingly unflattering contrast with the experience of Europe, Federal Reserve Bank of Boston President Eric Rosengren said U.S. overeagerness to reopen commercial activity without sufficiently containing the spread of Covid-19 had backfired.
Dallas Fed President Robert Kaplan sounded a similar note.
Russia on Tuesday became the first country to approve a coronavirus vaccine, a move that was met with international skepticism and unease because the shots have only been studied in dozens of people.
President Vladimir Putin announced the Health Ministry’s approval and said one of his two adult daughters already was inoculated. He said the vaccine underwent the necessary tests and was shown to provide lasting immunity to the coronavirus, although Russian authorities have offered no proof to back up claims of safety or effectiveness.
“I know it has proven efficient and forms a stable immunity,” Putin said. “We must be grateful to those who made that first step very important for our country and the entire world.”
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