Coronavirus Fears Grow as Government Pushes for Vaccinations

Renewed fears of coronavirus spread in the United States, primarily caused by the more contagious Delta variant, have led to renewed restrictions and mandates across the country, most notably mask and vaccine mandates. President Joe Biden has issued an order for all federal workers and on-site contractors to be vaccinated or be mandated to wear masks and submit to frequent testing.

Private companies, such as Delta Airlines and Disney, have also mandated vaccines for their employees. The available vaccines in the US, (the mRNA vaccines from Pfizer and Moderna and the more traditional viral vector Johnson and Johnson vaccine) are still under emergency use authorization, leading to hesitancy from many to take the vaccine as well as from many employers to mandate the vaccine. The Food and Drug Administration (FDA) has said they are working to fast-track approval of the Pfizer vaccine.

The Delta variant has been responsible for most of the recent infections in the past several weeks, with some scientists claiming the variant is as contagious as the chickenpox. The contagiousness of the variant has led to calls for both vaccinated and unvaccinated individuals to wear masks in an attempt to contain the virus’s spread. 

 

Section of Condominium Tower Collapses in Florida

A wing of the condominium building Champlain Towers South in Surfside, Florida, a community in Miami-Dade County, collapsed on June 24 in the early morning hours. As of June 30, the collapse has caused 18 confirmed deaths, with 145 people remaining unaccounted for.

 Investigations have already begun into the cause of the partial building collapse. Building residents had long complained of building defects and had planned to spend millions in repairs for the building. Inadequate waterproofing of the swimming pool may have allowed water. including saltwater (which causes more advanced deterioration), to seep into the concrete. The building was also believed to have been sinking for years prior to the partial collapse.

Emergency crews immediately began working to clear the rubble as they searched for survivors. So far, only one person has been rescued from the collapsed portion of the building. Another 18 were rescued from other sections of the building.

In response, Miami-Dade Mayor Daniella Levine Cava has ordered an audit of all building older than 40 years and with more than five stories. Others, including the editorial board of the Miami Herald and Miami-Dade County State Attorney Katherine Fernandez Rundle, have called for a grand jury investigation into the cause of the collapse.

Microsoft Announces Windows 11

Microsoft announced Windows 11, the latest version of their long-running operating system line, on June 24. The announcement comes nearly six years since the release of the current Windows version, Windows 10.

Microsoft is planning to implement a simpler design interface compared with that of previous Windows versions, as well as chat integration in the taskbar. This version of Windows will also be the first to allow Android apps to run on the system without having to download third-party software.

 

Bill Cosby Freed from Prison After Conviction Overturned

Actor and comedian Bill Cosby, convicted in 2018 of sexual assault, was set free from prison Wednesday after serving nearly three years of a three to ten year sentence. The Pennsylvania Supreme Court overturned his conviction, citing violations of Cosby’s due process rights under the 5th and 14th Amendments.

In 2005, Montgomery County District Attorney Bruce Castor, also known for his defense of President Donald Trump in his second impeachment trial, promised Cosby that he would not be criminally prosecuted if he provided testimony under the penalty of perjury in a civil case that alleged sexual assault by him. In his testimony, Cosby admitted to providing Quaaludes to women, and this admission was a basis for his criminal conviction in 2018. The Supreme Court ruled that the prosecution broke Castor’s previous agreement when prosecutors later sought criminal charges against Cosby. The court also barred any further criminal charges from being brought against Cosby in this case.

After his release, Cosby returned to his home in Elkins Park, Pennsylvania

China to Allow Couples to Have Three Children

The Chinese government will now allow married couples to have up to three children as the country aims to stem off demographic imbalance and population decline.

In the announcement, the government also vowed to provide educational and child rearing assistance, both commonly seen as barriers for couples who desire more children. 

Since 2015, China has allowed all couples to have up to two children as the population has continued to age. In addition, there are concerns over the gender imbalance, as the traditional bias for male offspring has led to more males being born than females.

 

Belarus Diverts Flight to Arrest Dissident on Board

 A Ryanair flight from Athens, Greece to Vilnius, Lithuania was diverted on May 23 after a Belarussian fighter jet intercepted the plane. Using the pretense of a bomb threat, the plane landed in Minsk, the capital of Belarus, and journalist Roman Protasevich and his girlfriend were arrested. Protasevich is a known critic of Alexander Lukashenko, the authoritarian leader of Belarus who has led the country since independence from the Soviet Union.

The other passengers of the flight were eventually allowed to depart on the plane, which reached Vilnius  over eight hours behind schedule.

The European Union has banned flights from flying through Belarussian airspace in response to the incident, which has been widely called a violation of international law.

Belarus, sometimes called the last dictatorship in Europe, is known for its restrictive laws and its strongman rule by Lukashenko. Lukashenko faced massive protests calling for his resignation after the presidential election in 2020, which was clouded by allegations of widespread fraud.

 

Rising Prices Raise Inflation Concerns

The Federal Reserve reported that the personal consumption expenditure index (PCE), which measures the prices of consumer goods minus food and energy, rose at a 3.1% annualized rate in April, an increase from 1.9% in March. This was higher than the expected 2.9% increase.

If one were to include food and energy prices, inflation rose to 3.6% in April, up from 2.4% in Match.

The Federal Reserve has tried to allay fears of rising inflation, blaming it on supply-chain bottlenecks and the large fiscal stimulus, which they believe are temporary factors. In addition, the inflation is starting from a relatively low base line, as price increases were low during the coronavirus lockdown and related economic downturn.

The Biden administration, which has proposed trillions in additional spending, has signaled they believe that they can continue the large amounts of fiscal stimulus without drastically raising inflation. Republicans have countered that the additional money pumped into the economy could lead to even higher prices.

The US is not alone in facing inflation risk. Germany reported a 2.4% inflation rate for May. Spain also experienced the same inflation rate for May.

Markets overall have responded negatively to the news of increased inflation. While US markets have stabilized in the past few days, increased volatility in equity markets worldwide have continued. Cryptocurrency markets have also seen sharp declines from their previous highs, though other factors besides inflation worries are likely at play.