What the US must do to avoid a vicious Covid cycle | Mohamed El-Erian

Sustained economic efforts rather than simple repetition of one-off measures are required in four areas

As excited as we all understandably are about the arrival of the first Covid-19 vaccines, the immediate road ahead remains treacherous. The US, in particular, could be on the verge of a horrible scenario in which slippages in each of four areas - public health, the economy, policy and household behaviour - end up making those in the other areas even worse. Over the next few weeks, they risk setting in motion a vicious cycle that, if it materialises, could shatter the lives and livelihoods of many more people, even though vaccines are in sight.

Fortunately, through individual and collective action, the US has the means not only to arrest these dynamics but also to transform them into a virtuous cycle. This will require a set of sustained efforts rather than simple repetition of one-off measures.

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