the current deadline is august 31. the pentagon spokesperson john kirby today said the u.s. is working on it. >> the goal is to get as many people out as fast as possible. while we are glad to see the numbers we got yesterday, we will not rest on any laurels. the focus is trying to do this the best weekend by the end of the month. mark: he says the u.s. is talking to the taliban several times a day and that american officials will get nato ally views on the deadline. the food and drug administration has fully approved the covid-19 vaccine made by pfizer biontech. without approval, new york city has now mandated covid-19 vaccinations for teachers with no opt out options. new york has the largest public school system in the united states. u.s. labor secretary marty walsh says the delta variant's aggressive path has shaken his

expectation for a rapidly recovering labor market. secretary walsh says he is concerned about the resurgence of the coronavirus dragging on the workforce and economic growth. in germany, chancellor angela merkel is threatening to push for more sanctions against russia if the kremlin tries to use the new nord stream 2 gas pipeline as a weapon. russian president vladimir putin has imposed conditions on any extension of a gas transit agreement with ukraine which is an economic lifeline for the former soviet republic. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. >> it is 1:00 in new york, 1:00

a.m. in hong kong. welcome to bloomberg markets. here are the top stories we are following on the bloomberg and from around the world. pfizer's covid-19 vaccine wins landmark approval. we will discuss what the fda clearance means for the fight against the delta variant. and we discussed the return to schools. randi weingarten, president of the american will be joining me. and we will look at the state of private credit markets. randy schwimmer will be joining us. let's take a quick check on the markets. buy the dip monday. the question is why? was it because we were oversold last week or is it because of the full approval from the fda on the pfizer vaccine? either way, the laggards are now

the winners. occidental, marathon, apache all doing quite well. however, you are still seeing big tech outperform in the broader index. and nasdaq 100 up by 1.5%. that tells me you are in the go buy growth and tech conversation. . the vix keeps on getting lower. safety bids to the side. something else that caught my eye in the markets, amid all the equities in green, the credit market telling is a different story. in the u.s., high yield bonds --

michael purves says when the spreads keep widening as the vix grinds lower, that is often a good warning sign of trouble to come. the idea when we see any movement in the corporate bond market, the fed is always there to support the market. at some point, will there be a reckoning with all the leverage, particularly in the riskier companies? or do we see steady as she goes if the fed still involved in the treasury market? the debt market's going to over $1 trillion in the past two decades. more private equity firms are looking to finance leveraged buyout. they are borrowing money from each other or direct lenders. joining us now to discuss is randy schwimmer.

randy, it's a pleasure to talk to you today. i want to start out in the high-yield bond market. you are seeing yields rise for a seventh consecutive week. when do you get nervous that we are seeing a canary in the coal mine that would affect your business? randy: one of the great things about private quite -- credit, it is correlated to less of what is happening in the overall market that individual credits in our portfolio. that is what has attracted so much capital into the space. as the markets over have done a great job highlighting that volatility, have swung back and forth, public equities as well as the public credit markets, private credit, which doesn't trade and doesn't have a secondary market, so once you own the credit, you own it until it refinances or the company pays off. but there is so much more

stability in the value of that asset because it doesn't trade. it also has a yield that is anywhere from 100 to 200 basis points higher than the liquid loan market. certainly relative to high-yield, which is unsecured in the capital structure. that is why private credit is less focused on what is going on in the overall markets, really focused on the issues going on with folio companies today. alix: either way, you are looking at higher leverage which will have a knock on effect. talk about the leverage creep you are seeing in loans right now. randy: if you measure leverage as a metric of debt to ebitda, cash flow, the average unit trot, the structures that these finances are using, mimicking a structure, all the way to six times on average, some of the

jumbo deals being done, particularly large software companies, i'm getting done close to seven times. these are businesses that have significant cash flows, very large revenue businesses, by the largest and biggest private equity firms. they are also putting in a ton of cash equity, multiples of ebitda. so the cushion before you as a private credit lender, regardless of an ebitda matter, almost 50% cash. alix: how big do you think these loans can eventually get? randy: it is the same kind of question i was asked in 2007 when the syndicated market was pumping out these mega buyouts. the last one done in 2007.

i don't think we will get close to those levels in the private market. we have seen unit tranches over $2 billion, the largest by stamps.com. i think it is just a matter of time before we see $3 billion. firms such as ourselves generate so much capital, if you club a few of us together, you can get to those large numbers. $3 billion is something that we could see before the end of the year. alix: so what gets you nervous? you say everyone has raised so much capital, we could pull together $3 billion. when are you worried? randy: we wake up worried in the morning, we go to bed worried. alix: you are a credit guy, that is what you do. randy: we were fortunate because the motto really focuses on defensive industries and stays away from cyclicals and more consumer facing.

we went into covid with that posture and came out very nicely with no real issues, no defaults, no losses as a result of covid, which put us in a good position. we maintained that caution. we turn down 90% of the deals we see because they don't fit the credit strength we look for, to create an all-weather portfolio. while that keeps us up at night, it keeps our investors from worrying as much as they might. alix: what has been interesting in the credit market, high-yield market, investment grade, covenants seem to go by the wayside. it leaves the lenders left with protection. i notice what you are seeing in your market in relation to that. it seems you are willing to leave deals on the table if you don't like the terms. what are you seeing in a covenant like market? randy: most of the deals that we

do do have covenants. those deals $20 million in cash flow and $50 million in cash flow, they don't deserve to have cov light. that is really a bond-like feature. if you are middle-market, you shouldn't have access to those kind of bond like covenants. it is one thing if you are issuing a $2 million ebitda, but those businesses can cross over into the public markets and private markets. only having a test which is what covenant like means and no maintenance tests, only the borrower borrows more debt will the test take effect. that is fine for the bigger companies. for the most part we live by the motto, for the small and medium-size businesses, they deserve watching. the only way you can come back to the table is if you have a competent to keep everybody

honest. alix: i want to get your take on what areas you like right now, where is the best value. in the market it was a reopening, reflation trade. then it was more value, that it went back to growth. what are you liking on the private credit side? randy: essentially the same thing going into covid. we knew that the defensive industries, b2b has always been better in the downturn. we didn't know it would take place last year but we knew something would happen at some point. health care has always been a good sector for us, we own over 10% of our portfolio into various diversified health care sectors. the other part that is very interesting is software and technology. you can see that in the multiples that are being paid from the bigger businesses. if you think about our life, how

you order something online, everything is online. that technology that is being used to deliver goods to your home, those are the kinds of things that have really benefited from some of the trends we have seen in covid. technology, business services, health care, those are the businesses we like, historically going into covid, and we like them even better going out. alix: really great to get that perspective, randy schwimmer. pfizer's covid vaccine wins that landmark approval. we will talk about what that means next in stock of the hour. this is bloomberg. ♪

alix: this is bloomberg markets. i'm alix steel. time for stock of the hour.

pfizer beyond tech's vaccine is the first to receive full fda approval. day wilson is looking into the decision, seeing a nice pop for both stocks. dave: we are talking about a vaccine that really has reshaped in these companies, established biontech as a company and really give a lift to pfizer in terms of their revenue. first quarter, 28 percent growth, second-quarter quarter, 60% plus. by the year and, analysts are thinking revenue will double. that shows you how dramatic the effect has been. $33.5 billion in vaccine sales this year. that was just last month. it was up 30% from the previous forecast three months earlier. it just goes to show you what is happening in terms of how this

is playing out, having the full approval will only help in that regard. it is a big world out there. certainly, the u.s. is a big piece of that but there are a lot of other places that are big pieces. india, mainland china have their own vaccines. india's was approved today. it will be a challenge for pfizer and biontech to reach beyond the u.s. and european union. clearly, there is an opportunity there. you just look at the shares, you see the effect of this, not only on pfizer and biontech but on moderna, the competing messenger rna vaccine, and astrazeneca. not trolling the pack but they have had some challenges, have not had their vaccine authorized in the u.s. yet. alix: pfizer also made news

before this, making $2 trillion, unrelated to the vaccine. dave: it was related to one of the main areas of focus for pfizer, which is oncology. vaccines are the other, they have a half-dozen of them. in terms of oncology, they were willing to pay up for trillium. they invested last september as an initiative to help smaller companies develop drugs and bring them to market. now they are by what they don't already have. you are talking about that $2.3 billion deal. shares took off in response. it is clear that the company, as much as it is being shaped by the covid-19 vaccine, it is moving forward in these other areas as well. alix: thanks for joining us, dave wilson. we will be speaking to randi weingarten, american federation of teachers president about the

approval of the pfizer vaccine. and the debate over masks in schools. this is bloomberg. ♪

alix: this is bloomberg markets. i'm alix steel. on the same day the fda approved pfizer's covid-19 vaccine, new york and new jersey have mandated vaccines for their teachers. for more on this, we welcome a medic and federation of teachers president randi weingarten. this vaccination for teachers. do you expect this to go at a national level at some point? randi: yes. i am actually in 20 states this month on a back-to-school campaign. we gave out $5 million in grants

to our locals across the country. they are standing up vaccine clinics for our kids and members there, going door-to-door, talking about going back to school. we are all in on back-to-school for everyone, five days a week, but we also want to make sure it is safe. we know that vaccines are the sicko most effective way at making it safe. universal masking is also important, as is ventilation. what you can see is california, washington state started the trend. we know it is an all of society approach. the military will be doing vaccines, private industry is. we have said as a union, we will work with our employers on working on the limitation details of whatever vaccine requirements they need.

alix: do you think at some point we will need a covid vaccine in the same way that you need your mmr, bangkok, flu vaccines, that you have to get before you go to school? randi: i think we will. part of the problem right now is the misinformation and disinformation campaign. how many younger adults i see who are fearful because of the disinformation about what happens in terms of pregnancy. that is disinformation but they are people about it. the factoionalism that just happened. this weekend in alabama, trump was booed for saying to get the vaccine. we have to overcome that trust. the fda made a big step toward that by doing full authorization. but we know vaccines are the single most effective way of

keeping yourselves and your family safe, other people safe. let me just brag a little bit. 90% of our members are vaccinated, done voluntarily. we just did a poll of them, and 3% of them in addition to that 90's says they are getting their appointments. alix: it is great to think that that would work. the issue is, in so many states, mask mandates are in the courts, and that is not even approaching vaccinations. where do you think the mandate needs to come from, federal, state, local? randi: i am glad you asked the question. all of the covid response -- trump punted to states and localities. as a result, that is where the rest of the covid response will happen.

the federal government can help to create the guidance, which they have. they can create the resources, which joe biden did with the american rescue plan, congress did as well. what biden has said is he has asked employers, whether they be public or private, to actually try and do this. that is why you are seeing so many private and the public employers, including the military, disney, have gone for both vaccine mandates and masks. take orange county, florida. disney has a mask mandate, so kids and parents have to wear a mask. yet, the orange county schools, desantis is fighting these kinds of mandates. the orange county schools, hopefully they will go for it today, but i agree with people

who say, take the politics out of this. we need to get kids in school and keep them there. so let's focus on what the public health experts tell us, which is vaccines, masks, ventilation. alix: i want to get your take on one thing that we don't know about yet this year, how many cases in the schools will trigger closures. what should that number be? randi: i am not a scientist, i am a social studies teacher and a lawyer. i try to listen to what the scientists say. i think what parents need to hear is that if there is a covid case, it needs to be transparent, disclosed, and we need to have a real protocol. if somebody is vaccinated, three to five days, you take a test to

see if you are positive. if you are positive, you have to quarantine. if somebody is not vaccinated, there has to be that contact tracing and quarantine. unfortunately, that has meant that we have already had a boatload of quarantines in florida because the lack of masking. the same in arizona and texas. this is not good for kids or parents, not good for educators. have safety protocols, let's be clear. let's take the politics out of it. alix: i appreciate you coming on to discuss. randi weingarten, a medic and federation of teachers president. this is bloomberg. ♪

(announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs

and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and stress is the only thing you have to lose. get it and get it now. your body will thank you. (announcer) find out more at aerotrainer.com. that's aerotrainer.com.

mark: i'm mark crumpton with bloomberg first word news. vice president kamala harris is in singapore where she announced

a new supply chain initiative. the vice president and the president of singapore announced an agreement on cyber and climate. vice president harris: i am standing here in singapore as a sign of our long-standing enduring relationship with the indo pacific region, southeast asian countries, and in particular with singapore. mark: vice president harris also praised singapore pandemic response, calling it commendable. tropical storm henri soaked the u.s. after coming ashore in rhode island. about 1000 flights were canceled and amtrak had to cancel trade between new york and boston. in tennessee, at least 22 people were killed and dozens are still missing after record rain sent floodwaters rushing through rural areas. up to 17 inches fell in a 24-hour period 60 miles west of

nashville. rescue crews are searching destroyed homes for survivors. the taliban says there will be consequences if the u.s. delays it's true thrall from afghanistan. the current deadline is august 31. u.k. prime minister boris johnson will push president biden to delay the departure of american troops to allow for more and safer evacuations of foreign nationals and their afghan staff. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪ >> greg bendel. welcome to bloomberg markets. alix: i'm alix steel.

we are joined by our bloomberg and bnn bloomberg audiences. the latest on the landmark approval of the pfizer vaccine and what lies ahead for the dead as the delta variant spreads. the house makes an early return from its august recess. we will talk to diana furchtgott-roth. the taliban names a central bank chief in afghanistan. we discuss economic headwinds for the country as the crisis continues. greg: let's take a look at how markets are starting the trading week. green on both sides of the border. oil was on a seven-day losing streak. the broader commodity complex feeling better about the world as well. crude at 65.70. even bitcoin is taking part.

it did go above 50,000, not there now, but still making gains. the s&p 500 is setting all-time highs. a few factors in play, including these factors from china, saying they have been able to tamp down the latest outbreaks of the delta variant. a little bit of optimism but it can be done in terms of keeping the virus at bay. for what it is worth, here in canada, when i tell you this story, you would say, what is the big deal? zero dollar commissions for trade stocks and etf's from the national back in terms of their brokerage service. this is not commonplace in canada. this is the first of canada's big banks to make the move. you have all the different trading platforms.

what we don't have in canada that you do have is payment for order flow. we cannot do that in this country. it feels like that has held us back in terms of an incentive for a national bank. i was talking to some folks, and they said it is more about bringing customers through the door, getting them signed up for other services. it is a different landscape so we are starting to play catch up with the u.s. alix: i don't know what our landscape will look like either. in terms of payment for order flow, that is coming under scrutiny. there is the possibility that these guys will have to make money in different kinds of products. that is why you are seeing robinhood become more of a broad-based money app. we may be in your spot soon when it comes to the payment order flow issues. greg: canadians not leading the

way but maybe in some point providing the example. pfizer biontech getting full fda approval. there has been a surge in infections, a big concern for investors. of course, all of these things will be front and center in jackson hole this week, which is also feeling the pain of the pandemic and the spread of delta. michael mckee is our policy correspondent. by the time we get to jackson hole, it will have a different feel than just a couple of weeks ago. mike: we thought the fed would be talking about when they might taper, but now it may be about whether they hold off because of what has happened with covid. cases in wyoming rising significantly. the county in which the symposium is held is going to code red.

they say you cannot have meetings and everyone needs to be masked, you have to be social distanced. the kansas city fed decided to call it off, which is interesting. the fed had set us up for the idea that we may see a change in the operations. in their most recent meeting, they noted participants saw the path of the economy would depend on the course of the virus, risks to the economic outlook remain. that seems to be where we are at this time. we get some interesting data on friday, inflation and spending that come right before jay powell speaks. that could influence what he says, particularly if we get a rise in the inflation figures. you can see what has happened. inflation continues to rise no matter what, but when we had the spikes in january and mark from

coronavirus, you can see consumer spending pulled back. does that happen again, do we see that kind of dynamic at play? if so, what does jay powell think of that? alix: i wonder if we need to move the conversation from when will they taper to can they do anything? i was taken by an interview with marty walsh, labor secretary, talking about the impact of the delta variant on employment. he was hoping to have a nice recovery in september, good job growth, but some worry that this may slow that. unemployment will run off in september. do you think that conversation start to change right now? mike: right now the conversation is in the air, but whether it changes will depend on the labor market. we do get the august jobs report on september 3. that could have a big influence,

if it drops off significantly. the fed may want to see the september report because that is when all of those employment benefits run out, also when schools are pretty much restarted, day becomes less of a problem. unless the schools are not in and go virtual. the fed has something they don't know right now, and it may take them a while to find out, and that is why people are thinking this delta variant may delay the whole process. if they were going to go in september, maybe november or december now. greg: the big pivot from the fed last year was the idea that the labor market recovery would be a key criteria for them in terms of support they are giving to the economy. any discussion that they may have painted themselves in a tight corner, considering the pricing pressures we have facing the american consumer? mike: they believe they will be

able to get out of it. it was a change in the way they react to the economy, trying to drive unemployment lower by not reacting to inflation projections. what we have seen is inflation actually rising farther and faster than they anticipated. they are still saying it will be temporary and can wait it out, but if it continues to rise significantly, they may have to rethink that. alix: thank you so much, michael mckee. the u.s. house makes an early return from its august recess. we will discuss the efforts to string together a vote to president biden's economic package, and the next steps in the bill. we will speak to diana furchtgott-roth. this is bloomberg. ♪

alix: this is bloomberg markets. i'm alix steel. the u.s. house making an early return to washington today, coming back to vote on the senate passed a budget resolution and hold a procedural vote on the bipartisan infrastructure legislation. let's bring in diana furchtgott-roth. she has held roles in the department of transportation, and labor. really good to speak with you. you have had the inner workings of government for a long time, and there is a lot of jockeying happening within the democratic party, how they advance these two pieces of legislation. how does this work out? diana: i would hope there is a

vote on the infrastructure bill before they move forward to the $3.5 trillion in entitlement spending. we have an economy that is growing at 6% a year. we don't need that $3.5 trillion entitlement bill, alix. greg: it is a huge sum of cash. at the same time, we hear about crumbling infrastructure. what would be a right size package, hearing about crumbling roads in rydges -- roads and bridges to keep the economy going for the next three decades? diana: we do need the $110 billion for roads and bridges and there are ways to make it go further. we could have more flexibility for state in terms of regulation. we could have more private activity bonds so that more private investors could invest in infrastructure themselves.

the california pension plan is investing in infrastructure all over the world. there is no reason why we could not have more private investors in roads and bridges here. $1 trillion is certainly a lot better than $3.5 trillion in entitlements. alix: it feels like the $1 trillion is some thing that everyone can agree on. the progressives will not advance that unless they don't get that 3.5 as well. do you think the more progressive democrats will torpedo the $1 trillion to get the 3.5? do those kinds of things happen? diana: they are concerned that if they vote on the $3.5 trillion, they are in close races, and that the senate will not pass it, so they will have taken that walk down the plank for nothing. with the problems in

afghanistan, president biden's popularity going down, they are going home and seeing that people do not want such large spending. that is why they want to protect themselves. greg: when you talk about bringing private investment in -- and i want your perspective on this. in canada, we set up an infrastructure bank years ago and the idea was to leverage private money, get it in partnership with the public sector, and build the infrastructure we needed. we have been spinning our wheels, we are not landing the big projects from rabbit partners. how can we do this right? diana: there is a lot of private investment. we can look at virginia and i-66, a project to build additional lanes and told them we need to give states the ability to toll part of their federally funded roads so that they have the funds to keep them

up. we also need to encourage other private investors to invest here. why are our companies investing all over the world in infrastructure but not in the united states? we don't need to be funding all of this through the federal government. alix: if we don't, would you favor something like a gasoline tax to help this? diana: i would favor encouraging private companies to invest in roads and bridges, then charging the public through tolls. these toll roads often go next to roads that are free. in other words, a couple of toll lanes to go faster, and those pay for the entire road. we need to think about making the users pay for infrastructure. if we are going to get the whole vehicle fleet electrified, which i'm not sure we are going to do that, then the gas tax revenue is going down. that revenue is going down as people drive more cars with

better fuel economy. everytime someone trades their 2005 car for a modern car, there is less gasoline tax. greg: when you mention electric vehicles, there is an infrastructure that we are familiar with, the bridges and roads. you think about charging stations. i think about the internet being critical for economic growth. are there ways, that we can entice the public and other things, like internet? diana: the infrastructure bill does allocate billions of dollars for broadband but the fcc last year asked companies to bid on what it would take to give everyone internet didn't have it. they came up with $10 billion. $65 billion is more than necessary to achieve internet for everybody. that is one area where the bill

could be cut back, if people were looking for places to make it smaller. similarly, public transit, $70 billion in the past few bills. that is $15 billion more than the entire transit agencies used in 2019. they are set to get $40 billion more. these amounts are so immense, people cannot imagine them, but somebody will have to pay them off one of these days. that is why we have to take a good look at the spending. greg: thank you for your time and for joining us. diana furchtgott-roth, adjunct professor at the george washington university. the taliban appointing a central bank governor for afghanistan. we will discuss the economic headwinds. this is bloomberg. ♪

vice president harris: there is

no question, there will be, and should be, a robust analysis of what has happened. but right now, there is no question that our focus has to be on evacuating american citizens, afghans who worked with us, and vulnerable afghans, including women and children. alix: welcome back to bloomberg markets. that was vice president kamala harris addressing the crisis in afghanistan amid her visit to singapore. when it comes to monetary policy, the taliban have named in a secure official to their central bank. the taliban faces a series of shocks that will probably lead to a weaker currency, faster inflation, and capital control. >> we have internally displaced people because of the drought. then we have the conflict and fighting. add on top of it what would

could be an economic crisis. it is a really challenging situation. we were trying to manage three shocks. now we are having to deal with a fourth, which is challenging. alix: joining us now is joe weisenthal. great-looking, interview. >> it was all on my cohost who did the booking. i want to make sure that that goes appreciated. you heard him talk about the four shocks. the big thing that will be an issue for the country is that the vast majority of their money and reserves have been frozen. prior to the collapse, afghanistan had about 16 months worth of the import bill paid for. now they have about two days worth. there is essentially no foreign currency that believed to soaring inflation. we already saw a story about

afghanistan traders asking iran to export more gasoline. this will be a serious challenge right off the bat. that is on top of the chaos and calamity we will see because of the collapse of the government. greg: it still feels like a moment in afghanistan, early days in terms of how they communicate and deal with the world, particularly the western world, which feels very wronged by what happened in a short order of time. joe: we talked about this on the episode, the pr offensive that the new taliban government is going on, trying to portray themselves as taliban 2.0. nonetheless, there is so much at stake financially about giving access to any of that cash,

giving access to any of that aid. there was a massive current account deficit that was plugged with aid. all of that will disappear. there are no good options. we talked about, could china be a source of foreign direct investment? anything like that would be a long way off. this is an immediate challenge, on top of simply running a country. it will be a challenge that foreign an entity, for the last 20 years, has been out of power. alix: i want to talk about china and rare earth. afghanistan has a ton of that. is there any chance that can be developed in a meaningful way? joe: that is the hook, there are lots of natural resources, but he does not expect them to be particularly transactional. there will not be some quick quote pro. he thinks it will be a long, slow game, something that may develop over the next 20, 50 years.

to the idea that there rare earth could be an immediate solution to the taliban's cash crunch, probably not. alix: 50 years would be a long time to get some lithium. thank you very much for joining us. you can catch that full conversation on the podcast. it is pretty awesome. thank you for joining us. we are having a rally underway. buy the dip monday. this is bloomberg. ♪

in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

(announcer) looking for a better way to lose weight and feel good? how about the one with a 98% success rate and a more affordable weight-loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. no stimulants, no starving, just results, results you'll keep for life. with over 2 million satisfied customers, golo is the new way to lose weight. go to golo.com and get your life back... -with golo. -golo! fda, it has now happened. the moment you have been waiting for is here. it is time to go and get your vaccination, and get it today. today. it is an important moment in our fight against the pandemic. i want to thank the acting commissioner, janet woodcock, and the entire team at the fda for their work. dr. woodcock is a true professional, a career scientist who served on the and democratic

presidents. she has insured the team follows the signs above all. they looked at the mountains of clinical data, clinical trial data, and the safety and efficiency data, concluded without question the vaccine was safe and effective for emergency use in december. we got those shots in arms, at the time, 350 million in the united states, and billions across the world. they cap pour over the data. the fda approval is the gold standard. as i said, now it has been granted. those that have been waiting for full approval should go and get your shots now. the vaccination is free, it is easy, safe, and effective. and it is convenient. for 90% of americans, there is a vaccination site less than five miles from your home. you can get the shot without an appointment. please get your shot today.

there is no time to waste. the delta variant is dangerous and spreading, causing a pandemic of the unvaccinated. while we are starting to see initial signs that cases may be declining in a few places, nationwide cases are still rising, especially among the unvaccinated across the country, virtually all covid-19 hospitalizations and deaths continue to be among the unvaccinated. it is worse in states where vaccination rates are overall low. but even in states were many people on vaccinated -- people are vaccinated, there are cases where vaccinated people do get covid-19, but they are far less common than unvaccinated people getting covid-19. most importantly, their conditions are far less severe.