FDA considers COVID vaccine update: https://www.cnbc.com/2022/04/04/fda-says-covid-vaccines-may-need-to-be-updated-to-ensure-high-level-of-effectiveness-against-virus.html . As the virus continues to mutate, updates seem highly desirable. They likely can be administered as part of an ongoing booster program.
BA2 now 72% of US COVID cases: https://www.usnews.com/news/us/articles/2022-04-04/omicron-sub-variant-ba-2-makes-up-72-of-covid-variants-in-u-s-cdc .
Medicare enrollees get free drugstore COVID tests: https://apnews.com/article/covid-health-business-lifestyle-medicare-8b180b354f4e2c09a4c42241e0dfb2c1 . Given the potential for a new Omicron surge in the next few weeks, this is a welcome development.
House passes Affordable Insulin Now Act: https://www.npr.org/2022/03/31/1090085513/house-passes-bill-to-cap-insulin-prices . They could have called it the Provide Affordable Insulin Now act. The exorbitant recent price gouging has certainly been an unnecessary PAIN.
European diplomats ask China to stop separating infected children from parents during Shanghai COVID outbreak: https://www.usnews.com/news/world/articles/2022-04-04/western-diplomats-ask-china-not-to-separate-covid-positive-children-from-parents . WSJ: Meanwhile, China extends Shanghai lockdown as it analyzes results of COVID tests: https://www.wsj.com/articles/shanghai-orders-snap-covid-tests-for-25-million-locked-down-residents-11649053546 . But COVID infections continue to rise: https://www.wsj.com/articles/shanghais-covid-19-cases-rise-above-13-000-as-city-extends-lockdown-11649119773 .
JPMorgan’s Dimon projects rapid Fed interest rate increases: https://finance.yahoo.com/news/jp-morgans-jamie-dimon-fed-to-hike-rates-higher-than-the-markets-expect-131153659.html . As readers know, I favored a 50 basis point increase for the recent increase of 25 basis points. However, assuming each rate increase is 25 basis points, as the article notes, the Fed current projects a total of 7 increases this year. The market projects 10 increases. Factoring in the new inflationary pressure of the Ukraine invasion and Russia’s isolation, 6 now seems to be more likely than before. The Fed has talked tough often in the past, but typically fails to carry out that language. However, I still favor a 50 basis point increase at the next Fed meeting.
Ketanji Brown Jackson picks up 3 Republican votes (Collins, Murkowski, Romney), assuring her confirmation: https://apnews.com/article/ketanji-brown-jackson-biden-stephen-breyer-us-supreme-court-congress-ac23237143afb5a7f3bbab56759f1dd8 . Sadly, this is what passes as bipartisan support today.
Russia continues apparent redeployment of troops the eastern Ukraine: https://news.yahoo.com/russia-revising-its-war-aims-in-ukraine-following-military-setbacks-white-house-says-214434411.html . It is anything but obvious that this redeployment will meet with success. And the supply lines through Poland continue to grow more robust.
West promises more action over Russian war crimes: https://www.wsj.com/articles/ukraines-president-vows-to-hold-russian-forces-to-account-after-war-crime-reports-11649068251 .
Zelensky to address UN Security Council Tuesday: https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-04-04/card/zelensky-to-address-u-n-security-council-tuesday-SJyFlZlv5LUwIYkq2ITf .
OJ’s Truth Social continues to struggle: https://www.aol.com/finance/exclusive-two-key-tech-execs-101822176-141059568.html .