This Week In The Economy: Ramping Up Home COVID Tests Supply, US Sept Jobs Report Disappoints, Debt Limit Can Kicked Down The Road, Energy Prices Inflicting Costs On Manufacturing

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.

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Ramping Up Availability Of At-Home Rapid COVID Tests

The U.S. Food and Drug Administration this week granted an emergency use authorization (EUA) to ACON Laboratories Flowflex COVID-19 Home Test, an over-the-counter antigen test that can now be used at home without a prescription.

“Today’s authorization for the ACON Laboratories Flowflex COVID-19 Home Test should significantly increase the availability of rapid, at-home tests and is expected to double rapid at-home testing capacity in the U.S. over the next several weeks. By years end, the manufacturer plans to produce more than 100 million tests per month, and this number will rise to 200 million per month by February 2022,” the FDA said.

The agency noted that since the onset of the pandemic, it has authorized more than 400 COVID-19 tests and sample collection devices, including authorizations for rapid, OTC at-home tests. It described at-home COVID-19 diagnostic tests as “a high priority and we have continued to prioritize their review given their public health importance.”

The White House said the administration is making an additional $1 billion investment in COVID-19 testing production and to procure an additional 180 million rapid, at-home tests by the end of the year.

Speaking at the weekly briefing by White House and public health officials, COVID-19 Coordinator Jeff Zients said companies will be able to expand production of tests even further, with…

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Brai Valerio-Esene
Dialogue & Discourse

Founder — SW4 Insights. Public policy junkie and Central Bank Watcher. Recovering journalist and former Senior Director at Hamilton Place Strategies