• Federal Reserve Bank of Dallas Bank President Robert Kaplan urged Americans to wear a mask, saying in a Fox Business interview Friday morning that it doing so would help the economy grow faster by slowing the spread of coronavirus. “If we all wore a mask, it would substantially mute the transmission of this disease and we would grow faster,” Kaplan said. “We would have a lower unemployment rate. We’d grow [the economy] faster and we’d be far less likely to slow some of our reopenings.”
said a new analysis suggested its remdesivir medication was associated with a 62% reduction in mortality risk in severe cases of Covid-19. The company cautioned the findings needed to be confirmed through clinical trials.
• Economists were surprised to see a decline in the producer-price index in June, with lower demand for various services and a decline in food and energy prices.
co-founder and CEO Ugur Sahin said he expects his company to produce more than 1 billion Covid-19 vaccine doses in 2021. In an interview with The Wall Street Journal, Sahin said mass production of the vaccine, in partnership with several other companies, including Pfizer, will begin even before regulatory approval is received. Phase 3 trials begin in July and BioNTech expects to file for regulatory approval by the end of 2020. Even if several companies can launch coronavirus vaccines at the same time, Sahin believes it will take about 10 years for 90% of the human population to be immune to the disease.
• The number of confirmed Covid-19 cases worldwide has risen to 12.3 million, with 3.12 million in the U.S., where infections have been climbing in 39 states and regions over the past two weeks.
• The recovery of airline stocks has stalledas states take new measures or close parts of their economies again to fight the spread of the coronavirus.
• Chinese regulators have taken steps to curb the sudden, rapid rebound of stock prices.