America has become a two-vaccine nation, but plenty of other companies are continuing to work on new vaccines that could increase supply and accelerate the country's goal of herd immunity.
Axios Re:Cap digs into the vaccine pipeline with Derek Lowe, a medicinal chemist and biotech blogger.
Americans are locking away greater shares of their money — especially big businesses and the wealthy — a trend that has increased thanks to the coronavirus pandemic and is likely to stick around for some time.
Why it matters: The U.S. economy is built on our propensity to spend and the past decade's environment of stubbornly low interest rates, low growth and economic inequality all could be exacerbated in the future as the country leans further into the savings trend.
What's happening: Thanks to the pandemic, the tendency of the wealthy socking away their money appears to be getting worse.
Where it stands: Data from Albion Financial Group show Americans have now socked away around $1.5 trillion in excess savings.
Why you'll hear about this again: A similar study from Oxford Economics and Barclays found $1.8 trillion in excess savings over the last 11 months, and Gregory Daco, chief U.S. economist at Oxford Economics, estimates the number could rise to $2.5 trillion by this summer.
This hoarding also is happening at large companies, which have feasted on cheap debt since the Fed announced QE4ever in late March, and kept much of it in cash reserves.
The U.S. savings rate is growing, but largely as a result of savings by the wealthy, the continuation of a long-running theme.
