Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Federal Reserve chair Jerome Powell said in an excerpt from CBS' "60 Minutes" on Sunday that the U.S. economy may not experience a full recovery until a coronavirus vaccine is available.
The big picture: Earlier Sunday, Health and Human Services Secretary Alex Azar predicted the U.S. will be able to return to some degree of normalcy thanks to "traditional public health tools" and that "everything does not depend on a vaccine."
- Powell stressed that "for the economy to fully recover, people will have to be fully confident" — and that may not happen without a vaccine.
- However, Powell added that he's optimistic that the economy will "recover steadily" in the second half of the year, assuming there isn't a second wave of the coronavirus.
President Trump has claimed that the U.S. could have a vaccine by the end of the year, a far more ambitious timeline than most public health experts project.
- Rick Bright, the former director of a key vaccine agency, testified last week that even a 12- to 18-month timeline is "aggressive" and that the U.S. does not have a plan to distribute a vaccine for the coronavirus in a "fair and equitable manner" when one becomes available.
Go deeper: Powell warns of "lasting" economic damage without more stimulus