Don't count too much on Covid-19 vaccine, warn Powell and Lagarde

On Monday, the pharmaceutical company Pfizer announced encouraging results from its vaccine trials, nudging stock markets toward new heights

Two of the world’s most powerful central bankers said on Thursday that economic risks from the coronavirus remain high, and they cautioned against putting too much faith in a quick fix from a vaccine, delivering a sober message as US lawmakers signalled that another stimulus package was unlikely before year’s end.

“The next few months could be challenging,” Federal Reserve Chair Jerome H Powell said during a webcast panel discussion, where he appeared alongside his European counterparts. Both Powell and Christine Lagarde, head of the European Central Bank, warned that while recent progress toward a vaccine was welcome news, it was