Vaccines will jumpstart the global economy. It may not feel like a boom

90-year-old Margaret Keenan, the first patient in the UK to receive the Pfizer-BioNTech COVID-19 vaccine, administered by nurse May Parsons at University Hospital, Coventry, England, on December 8, 2020.

A 90-year-old British grandmother became the first person in the West to receive an approved Covid-19 vaccine on Tuesday. It was a seminal moment in the coronavirus pandemic, which has claimed more than 1.5 million lives and forced the shutdown of large swaths of the global economy.

The distribution of vaccines throughout the next year is expected to trigger an economic boom, allowing businesses that were closed to slow the spread of the virus to reopen, while unleashing a wave of pent-up demand.

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