Covid-19 cases surge could hinder economic recovery: Fed chief

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Washington, Nov 13 | US Federal Reserve Chairman Jerome Powell has warned that a record surge in new Covid-19 cases across the country could hinder the recent economic recovery.

“We do see the economy continuing on a solid path of recovery, but the main risk we see to that is the further spread of disease here in the US,” Xinhua news agency quoted Powell as saying during a virtual event held by the European Central Bank on Thursday.

“With the virus now spreading, the next few months could be challenging,” Powell said, adding the Fed and Congress may need to do more to strengthen the recovery.

While the recent development of the vaccine is “good and welcome news for the medium term”, there are significant uncertainties about “timing production, distribution, and efficacy for different groups”, Powell noted.

“It’s just too soon to assess with any confidence the implications of the news for the path of the economy, especially in the near term,” he said.

Powell’s comments came after the country witnessed another grim milestone on Wednesday as key Covid-19 metrics including the daily case count, seven-day average daily increase and hospitalizations all set new world records.

According to data by the Centers for Disease Control and Prevention (CDC), the US on Thursday registered 143,408 new Covid-19, a record daily increase since the onset of the pandemic in the country.

The new figure took the overall caseload to 10,535,828.

A total of 1,479 deaths from the coronavirus were recorded nationwide on Wednesday, bringing the seven-day average death increase to 1,134, the highest since early August.

The death toll currently stands at 242,654.

Source: IANS

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Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Drummi Bhatt has successfully donned many hats including that of a global strategy professional, mentor, and investor to early-stage startups encouraging women entrepreneurship, and a philanthropist.

Drummi currently leads Market Intelligence and Strategy team at Mitsubishi Power, USA building corporate-level strategies for global markets. Drummi is also the founder of KarmaKonnect, a Woman and Rural Empowerment Non-Profit Organisation which works for projects in remote rural, tribal, and conflict areas.

Her philanthropy work has taken her to various corners of India, including, far end corners of Leh, Ladakh, Telangana, and remote areas of Chambal. During these visits, she got mesmerized by culturally rich, vernacular, and diverse, the true “Bharat”.

During her interaction across the country, she got enchanted by the whirlwind of talent residing across Bharat, which is not restricted to a language, city, or just tier-1 cities but is found in abundance all across tier-2, tier-3 cities, and rural-tribal clusters.

With OTT platforms ruling the world in 2020, Drummi decided to bring her strategic insights and data analytics strength to this field by joining hands with seasoned entrepreneurs, Rahul Narvekar and Narendra Firodia, to launch its kind, vernacular OTT platform, Letsflix.

In 2019, Drummi, Rahul, and Narendra have successfully launched India’s first vernacular infotainment app, LetsUp, which now caters to 1.5 million users and in 7 vernacular languages, a feat achieved by none. The trio has now been passionately working towards creating and delivering vernacular content for every viewer in India with Letsflix.

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