This Week In The Economy: Pfizer Vaccine Gets Full Approval, Powell Pushes Back Against Inflation Angst, House Kickstarts Drafting of $3.5T Spending Bill, Sets Date For Infrastructure Vote

Welcome to a regular snapshot-review of U.S. and international economic news that aims to 1) provide a window into the challenges and decisions facing businesses today, 2) determine the direction of economic policy — such as the speed at which central banks decide to raise interest rates, and 3) assess what the impact will be for consumers.

FDA Issues First Approval of A COVID-19 Vaccine

The U.S. Food and Drug Administration this week issued its first approval of a COVID-19 vaccine, granting full authorization to Pfizer’s drug.

The vaccine will now be marketed as Comirnaty, for the prevention of COVID-19 disease in individuals 16 years of age and older. The vaccine also continues to be available under emergency use authorization, including for children aged 12 through 15 years and for the administration of a third dose in…