US health authorities are calling for a pause in the rollout of the Johnson & Johnson vaccine after reports of extremely rare blood clotting instances.
The Food and Drug Administration (FDA) stated that six instances were found within the 6.8 million doses that have been administrated.
The blood clotting found in the Johnson & Johnson vaccine has also been found over the pond in Europe where there have been reports of the AstraZeneca and other vaccines also having the same rare effect.
Despite the small number of instances, Johnson & Johnson have issued a statement saying that safety was its “number one priority” and that it shared “all adverse health reports” with the health authorities.
These announcements by the vaccine manufacturer are likely made to show their transparency and willingness to cooperate with US authorities.
This is so that these new health risks associated with the vaccine uptake do not damage the manufacturer’s public image, Johnson & Johnson hope to stay as a key supplier.
However, if these new health risks do impact America’s attitude towards the vaccine efforts, vaccine uptake within the nation may decrease.
If this occurs, America’s economic recovery will be severely hindered, and, more importantly, public health will further worsen.
At the time of research being compiled for this article, there have been more than 31 million confirmed cases of COVID-19 within America with a total of 562,000 deaths.
Lower vaccine uptake will worsen these figures as, without vaccines, the chance for COVID-19 spreading is much higher.
Also, if vaccine uptake decreases, the Bidens Administrations goal of vaccinating 300 million Americans.
A slower vaccine uptake will impact the confidence of economic agents, thus leading to a slower economic recovery within America as businesses and consumers alike will spend less.
This may also lead to a negative multiplier effect as if less economic activity is occurring, the US government will see a reduction in revenue as VAT tax from transactions will be much less.
This is because the marginal propensity of consumers will increase, meaning there will be an increased leakage of money out of the economy through savings.
And, with businesses being less confident, it is unlikely that banks will lend as much of these savings out to firms despite decreased interest rates.
So, the new-found health risks of the COVID vaccines may become a threat to the potential of economic recovery if they damage the public view of vaccines.
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Research compiled by Jonas Theaker.