Forbes - Inflation woes

Plus: French President Emmanuel Macron refused Russian Covid-19 PCR test citing DNA fears

The good news? The Treasury Department said today the federal government recorded its first monthly surplus since before the pandemic began. Revenue surpassed expenses by $119 billion in January 2022 thanks to an increase in tax revenue and the expiration of some programs like expanded unemployment benefits. The bad news? The stock market plunged on the latest inflation numbers with consumer prices spiking 7.5% in January and raising concerns the Federal Reserve might raise interest rates too aggressively. Inflation is at a 40-year high and current drivers include food, electricity and shelter prices.

Do you have comments or questions? Email us at health@forbes.com

More Covid News

A new study backs the safety of Pfizer’s Covid shot during pregnancy, suggesting there was no “increased risk for early” death or congenital illness among infants born to vaccinated mothers. 

Vir Biotechnology and GlaxoSmithKline said today the duo’s Covid antibody treatment can neutralize the “stealth” omicron subvariant BA.2 based on lab studies; the data to back it up will be released “in the coming week.” 

The “Freedom Convoy” protests blocking a bridge between the U.S. and Canada over Covid-19 restrictions are now spreading around the world, inspiring similar rallies in New Zealand, France and Belgium. 

Sales at privately held personal protective equipment manufacturer Medline Industries eclipsed $20 billion last year, up from $17.5 billion in 2020.

What Else We Are Reading

• Appeals court refuses to reinstate federal employee vaccine mandate while it reviews case (CNN)

• Angry Customers, More Work and Longer Hours Strain Pharmacists (The New York Times)

• AstraZeneca sees higher 2022 sales even as COVID boost wanes (Reuters)