(ZERO HEDGE) With much of the world under some form of lockdown to slow the spread of COVID-19, and debates rage over when, and how, to reopen the global economy in order to avoid the next great depression, the light at the end of the tunnel has been top-down predictions of a vaccine within 18 months.
JPMorgan, for example, makes a core assumption that "it could take 12-16 months for a vaccine to be under mass production," and that the US will go through cycles of increased distancing measures followed by virus flare-ups, which require more lockdowns.
Yet after bold predictions and vaccines rumored to be 'just around the corner,' Dr. Anthony Fauci, director of the US National Institute of Allergy and Infectious Disease who sits on President Trump's coronavirus task force, offered a less enthusiastic view - saying in early March that a vaccine might be available in 12 - 18 months.
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