⏱Fannie and Freddie sitting in a tree...
90 Second News Issue #26
Happy Saturday everyone! You survived the weekend, and now it’s time to kick back and enjoy relaxing in the same place you now work. Maybe the WFH life isn’t as glamorous as we all once thought...
Yesterday, Pfizer and their partner BioNTech asked the FDA to approve their much anticipated Covid-19 vaccine. So far the vaccine has been through three phases and a 44,000 subject trial that proved it to be more than 95% effective. Traditionally, the FDA would take up to a year to approve a drug, but given the urgency, they are expected to act quickly and approve it in time for distribution by the end of the year. This in turn would make it the fastest vaccine development ever in the West, which was helped by more than $2bn in spending by Pfizer.
A new study by the Ludwig Institute for Shared Economic Prosperity found that more than 1/4th of Americans are jobless or earning poverty-level wages. This comes a week after more than 742,000 people filed for first time unemployment benefits as many parts of the country enter the second wave of lockdowns. On the bright side, economists are also saying a vaccine released in late 2020/early 2021 could have the economy back to normal by the beginning of 2022.
After being a landmark of Chicago for more than 106 years, the home field of the Chicago Cubs has now been declared a National Historic Landmark by the Department of the Interior. They stated that Wrigley Field is “interwoven into our Nation’s story”.
Mark Calabria, the economist who runs the Federal Housing Finance Agency has been making waves as he is attempting to return the two mortgage giants back to private hands. This massive move could make large differences in the cost and availability of mortgages as they represent more than half of the $11tn in housing loans currently on the market.
Late Friday, there was a shooting in a mall in Wauwatosa, Wisconsin which left many people injured, although luckily no one died. The suspect is still at-large, and authorities have launched a manhunt with more than 75 police officers as they search for more information.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
Have any questions, comments, concerns? Email us at team@90SecondNews.info
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