Though Yellen acknowledged the higher growth "could cause some very modest increases in interest rates," the United States needs the investments "to be competitive and to be productive."
Pfizer has earned $3.5 billion in the first quarter of 2021, as the ramped up sales of the COVID-19 vaccine boosted its projected annual earnings to $26 billion.
The American pharmaceutical company announced on Tuesday that it has raised its annual revenue guidance to up to $72.5 billion, up from $61.4 billion, predominantly due to the contractual delivery of 1.6 billion vaccine doses in 2021.
The coronavirus measures seem to have been working in Buenos Aires, which has managed to halt the increase in daily cases, although without lowering them.
It is expected to make up for more than one-third of Pfizer's full-year sales, with the company in supply talks with several countries for 2022 and beyond.
"Based on what we've seen, we believe that a durable demand for our COVID-19 vaccine - similar to that of the flu vaccines - is a likely outcome," Chief Executive Albert Bourla said in his prepared remarks.
Lambrecht said the curbs, introduced to contain infections and prevent the health system from becoming overburdened, must be relaxed once they can no longer be justified.
"If the risk of virus transmission is greatly reduced in fully vaccinated and recovered people, this must be taken into account in the measures. We have now implemented this," she said.
With 3.45 million active cases, India recorded 357,229 new infections over the last 24 hours, while deaths rose 3,449 for a toll of 222,408, health ministry data showed. Experts say actual numbers could be five to 10 times higher, however.
The drugmaker said it will work urgently to increase the supply multifold over the coming weeks.
"In the case of Brazil, India and South Africa, people travelling from these locations will automatically have to quarantine without the possibility of getting an exception due to a test," Adam Niedzielski told a news conference.
We expect the prudent steps we took in 2020 and are continuing in 2021 to adjust our expenditure in response to the Covid-19 emergency, will postpone by one year the achievement of our year-end 2022 guidance.
