Current Events in December 2020

A holiday ritual is returning holiday gifts that are the wrong size, the wrong color, and just plain wrong. In this year of the pandemic, making these returns might be a little easier.

A report by Modern Retail, an industry trade publication, notes that the crush of online purchasing that has occurred since March has caused retailers to evolve their return policies over the last few months.

“From big box stores to direct to consumer brands, the bottleneck effect created by the pandemic’s online shopping boom has pushed retailers to push back return windows,” the publication writes. “They’re not only there to give consumers more flexibility to get refunds, but also enough time for customer service reps to process returns safely.”

Amazon returns

Amazon has a special section of its website just for returning a gift. You’ll find it here. Some things to know are:

• You’ll need an Amazon account;

• You’ll need the order number from the purchase;

• If you’re the person who received the returned gift, you’ll receive the amount of the purchase as an Amazon gift card.

Walmart returns

Walmart extended grace periods on returns and exchanges early in the pandemic and is still showing some leniency. Walmart explains how to return a gift here. Most gifts, with some exceptions, can be returned even if purchased online.

Walmart accepts returns at all of its stores. Ideally, Walmart would like all packaging, materials, and accessories that came with the item. If you don't have the packing slip or a receipt, and your item was purchased on Walmart.com, provide the order number or the email address of the sender. 

If you have a receipt or packing slip and you're within the return window, you can return the item for cash or a Walmart gift card. 

Target returns

At Target, most unopened items sold by Target in new condition and returned within 90 days will receive a refund or exchange. There are exceptions, but they will be noted on the receipt or packing slip.

Items that are opened or damaged or do not have a receipt may be denied a refund or exchange, however. New Jersey stores will continue to observe state-ordered return restrictions. 

Target outlines its gift return policy here.

As explained by Modern Retail, the expanded return time frame is not only a courtesy to consumers but to allow for the safe handling of returned items during a pandemic. 

Some companies plan to set aside returned items for at least a day before they are handled by store personnel. Most items will go through a cleaning process before they are restocked.

Graco Children’s Products of Atlanta, Ga., is recalling about 51,000 inclined sleeper accessories included with various Graco playard products.

Infant fatalities have been reported with other manufacturers’ inclined sleep products, after infants rolled from their back to their stomach or side while unrestrained, or under other circumstances.

No incidents or injuries have been reported with the Graco product.

This recall involves the inclined sleeper accessory sold with the Graco Pack ‘n Play Day2Dream Playard with Bedside Sleeper, Graco Pack ‘n Play Nuzzle Nest Playard, Graco Pack ‘n Play Everest Playard and Graco Pack ‘n Play Rock ‘n Grow Playard.

A list of the model numbers, located on a label on the underside of the playyard on one of the tubes, may be found here.

The inclined sleeper accessory is the only portion of the product that is being recalled.

The inclined sleeper accessories, manufactured in China, were sold at Babies R Us, BuyBuyBaby and other stores nationwide and online at Amazon.com, Target.com and various other websites from November 2017, through September 2020, for Day2Dream Playard & Bedside Sleeper, May 2015, through December 2018, for Nuzzle Nest Playard, September 2015, through December 2018, for Everest Playard, and December 2019, through April 2020, for Rock ‘n Grow Playard, for between $270 and $350.

What to do

Consumers should immediately stop using the recalled inclined sleeper accessory and contact Graco for a refund for the accessory. Consumers may continue to use the playard portion of the product and other accessories included with the playard.

Consumers may contact Graco at (800) 345-4109 from 9 a.m. to 5 p.m. (ET) Monday through Friday, or online at https://recalls.gracobaby.com for more information.

While holiday spending showed a modest increase this year, the people doing the spending were racking up a serious amount of debt. 

According to a December 2020 MagnifyMoney survey, fewer Americans piled up holiday debt than in pandemic-free 2019, but those who used a credit card or took out a loan did it to the tune of $1,381 on average. That’s an increase of nearly $400, or 40 percent, since MagnifyMoney first started conducting its survey in 2015.

Pushing credit as far as possible

The consumer market was seemingly undeterred by COVID-19 or mounting unemployment rates. While it wasn’t exactly spend-at-all-costs, shoppers inched closer in that direction. Here are some of MagnifyMoney’s findings that show just how far consumers went into debt over the 2020 holiday:

The credit card bill can wait. As might be expected, credit cards were the most popular way to pay for holiday purchases among those who took the debt route. Fifty-six percent of the borrowers surveyed said they flexed the plastic this holiday season, but almost all of those who took on holiday debt (89 percent) said they’re not likely to pay the total completely off on their first month’s bill, putting them into the precarious position of taking on hefty interest charges.

“Still, most consumers will likely not take advantage of debt payoff strategies like debt consolidation or balance transfers,” commented Erika Giovanetti, the debt and personal loans writer for LendingTree. “Less than two in five (38 percent) consumers with holiday debt will try to consolidate their debt or shop around for a good balance transfer rate. For those who will not, the most common reason was not wanting to deal with another bank (20 percent).”

Personal loans continue their rise. The number of Americans with personal loans has increased steadily in recent years from 15 million to 20+ million, according to TransUnion, but the number of people turning to personal loans to finance holiday purchases is also on the rise. More than one in four of those who took on holiday debt this year (27 percent) said that debt came from a personal loan, up from one in five (20 percent) a year ago. 

Younger consumers dancing on the edge

The researchers conducting the survey said their findings also point to a troubling trend of buying now and paying later among younger consumers. 

“Point-of-sale financing companies like Affirm and Quadpay are popular among consumers. Nearly four in 10 (37 percent) of all Americans surveyed used ‘buy now, pay later’ financing for at least one holiday purchase this year,” Giovanetti said, pegging millennials and parents of young children as the demographics most likely to utilize this type of financing.

Gionvaetti’s cohort, Matt Schulz, chief credit analyst at LendingTree, says that point-of-sale found its groove in 2020 and is likely here to stay. “People like it because the payments are typically predictable and easier to understand than credit card payments, and there’s no risk of running up more debt after the loan is paid off,” he said.

While it’s probably not something they’d teach in Economics 101, the survey laid bare that half of those laid off or furloughed due to the pandemic in the millennials/young parents group also took on holiday debt -- most likely to try and bring something positive to 2020.

“The pandemic has wrecked so many things for so many people, canceling birthday parties, vacations, family get-togethers and more,” said Schulz. “Now, many people are likely trying to overdo it a bit for Christmas to make up for a crummy year. It’s easy to understand, but that spending can really clobber your budget.”

Coronavirus (COVID-19) tally as compiled by Johns Hopkins University. (Previous numbers in parentheses.)

Total U.S. confirmed cases: 19,151,651 (18,986,062)

Total U.S. deaths: 333,326 (331,929)

Total global cases: 80,979,476 (80,435,226)

Total global deaths: 1,768,048 (1,759,408)

Trump signs stimulus bill

After going right down to the wire, President Trump has signed the coronavirus (COVID-19) stimulus bill into law, sending most Americans, including children, a $600 direct payment.

As Trump signed the legislation, he issued a list of changes he wants to be made to the legislation, including the removal of some non-pandemic provisions. Democrats have said they have the votes to block that move.

Trump also called for a second measure increasing the amount of direct payments to Americans to $2,000, which many Democrats support.

AstraZeneca bullish on its vaccine

While the vaccines produced by Moderna and Pfizer/BioNTech are rolling out around the world, drugmaker AstraZeneca is expressing optimism about its vaccine that is being developed in conjunction with Oxford University.

AstraZeneca CEO Pascal Soriot told the Sunday Times that his company’s COVID-19 vaccine has achieved a “winning formula” for efficacy, saying it provides “100 percent protection” against severe COVID-19 cases requiring hospitalization.

The vaccine is still in clinical trials, but Soriot said he believes it will show the same effectiveness against the virus as the two vaccines currently being distributed. The vaccines produced by Moderna and by Pfizer and BioNTech were shown to be at least 94 percent effective in their recently concluded trials.

Vaccine passport?

As more and more people receive the COVID-19 vaccine, they will likely expect life to return to normal -- with activities like traveling, going to concerts, and crowding into stadiums for sporting events. But how will you know if everyone else has been vaccinated?

Technology companies are already working on that by developing apps that allow people to upload proof of vaccinations and test results, creating a digital credential.

The initiative was begun by The Commons Project, a Geneva-based nonprofit organization. It’s getting support from a number of travel-related businesses, including hotels, casinos, and airlines.

Bracing for a post-holiday surge

Against all medical advice, millions of Americans traveled over the holidays, something health officials fear could lead to a surge of new cases of the coronavirus in January. Adm. Brett Giroir, who serves as director of U.S. coronavirus diagnostic testing, says a spike in cases may or may not occur.

"It really depends on what the travelers do when they get where they're going," Giroir told "Fox News Sunday."

Giroir said the real threat is not the travel itself but the mingling of “bubbles” once people arrive at their destinations. If one person out of a group of a dozen has the virus, it’s likely that many of the others will also get it.

Therapies going unused

While there is a race to vaccinate people against the coronavirus and as the U.S. death toll continues to rise, pharmaceutical executives say their drugs to treat people who already have the virus are sitting on the shelf unused.

The Wall Street Journal reports that the rollout of these therapies has been pushed aside by many infectious disease specialists who say they want more clinical trial data before using them. The report says some providers aren’t even aware that the drugs are available.

The Journal cites officials at Operation Warp Speed who say hospitals are only using about 20 percent of the monoclonal antibody drugs they receive each week.

Around the nation

• Iowa: The coronavirus didn’t take off for the Christmas holiday. State health officials report that Iowa recorded 2,532 new cases and six more COVID-19 deaths between Thursday and Sunday afternoon.

• New York: The state legislature is expected to give final action today to a bill to halt evictions in the state until May 1. "Far too many of our friends and neighbors struggled to find safe, affordable housing before COVID-19 hit our state," Assembly Speaker Carl Heastie, D-Bronx, said in a statement.

• Ohio: Cases of the coronavirus slowed considerably during the holiday week. State health officials said new cases of the virus fell by more than 17 percent. Health officials are bracing, however, for what could be a post-holiday surge.

Consumers across the U.S. will soon be receiving some much-needed government aid now that President Trump has signed the latest COVID-19 stimulus bill. But like many other things in 2020, optimism must go hand-in-hand with some caution. 

The FTC says that consumers will need to be on guard against scammers who are looking to get their hands on the new wave of stimulus funds. In a blog post, Jennifer Leach -- the FTC’s associate director of the Division of Consumer  & Business Education -- provided a checklist of three things that people should keep in mind. 

1. Firstly, Leach says that the government will not be asking you to pay an upfront fee to get your stimulus check. Anyone saying otherwise is trying to defraud you.

2. Leach follows up by saying that the government will also not call, text, email, or contact you on social media to get details like your Social Security number, bank account information, or credit card number. 

3. Finally, she says that there isn’t a way to get your money earlier or faster. Scammers may use that line to reel in those who are desperately in need of money.

“We know from the early days of the CARES Act that scammers will be using numbers 1,2, and 3, above, as part of their playbook,” Leach warned. 

As always, consumers are encouraged to report any of the above suspicious behaviors to the FTC so that the agency can move to stop potential scammers. You can do so by visiting the agency’s website here.

Consumers spent more on the holidays than last year, but not by much. In this season shaped by the coronavirus (COVID-19) pandemic, Mastercard’s SpendingPulse report shows that sales between November 1 and Christmas Eve grew by 2.4 percent year-over-year.

“American consumers turned the holiday season on its head, redefining ‘home for the holidays’ in a uniquely 2020 way,” said Steve Sadove, senior advisor for Mastercard.

Sales from online shopping grew by a staggering 49 percent. That was hardly a surprise, though, since consumers hunkering down at home were ordering just about everything online.

What consumers purchased this season was also a bit different. The report shows spending was down on traditional gift items -- notably apparel -- and much higher for home furnishings. In fact, home furniture and furnishings saw the strongest growth of any sector compared to 2019, up 16.2 percent. Online spending for the home surged 31 percent compared to last year.

People working from home apparently decided they don’t need to dress up. Clothing sales sank 19.1 percent while electronics and appliances were up 6 percent overall.

Department stores were the big losers because fewer consumers ventured out to malls and shopping centers. Sales were down 10.2 percent year-over-year, though stores with an online channel saw their online sales increase by 3.3 percent.

Earlier start, earlier end

Consumers spread their shopping over a wider period this year. A number of major retailers, including Amazon and Walmart, staged promotions in October. The numbers show consumers took advantage of those earlier opportunities.

“Across our expanded 75-day holiday shopping season, sales were up 3 percent, a testament to the holiday season and strength of retailers and consumers alike,” Sadove said.

Because so many shoppers depended on shipping, the season drew to a close this year a lot earlier than in the past. After Black Friday, the top shopping day was December 12 -- one of the last days shippers would guarantee delivery before Christmas.

December 21, the Monday before Christmas, was the third-biggest shopping day in 2019. This year, it didn’t even crack the top 10.

After demanding larger direct payments to Americans, President Trump relented and signed the coronavirus (COVID-19) stimulus bill into law, averting a government shutdown.

As Trump signed the legislation, he issued a list of changes he wants to be made, including removal of some non-pandemic provisions. Democrats have said they have the votes to block that move.

Trump also called for a second measure sending Americans an additional $2,000 in aid. Many Democrats support that. 

The measure Trump signed was agreed to by both parties in Congress a week ago. Its key provisions are:

• $600 in direct payments to both adults and children;

• $300 a week in extra unemployment benefits for 10 weeks;

• $25 billion in rental assistance, extending the moratorium on evictions;

• $280 billion for new Paycheck Protection Program (PPP) loans;

• $15 billion in grants for theaters and other performance venues;

• $13 billion in additional food stamp and nutrition funding; and

• $30 billion to purchase more COVID-19 vaccines.

Direct payments based on income

The direct payments to Americans are half the amount contained in the CARES Act, with more of the money targeted to people most in need. Households are expected to receive $600 per adult and $600 per child, with the amounts decreasing as income levels rise.

Individuals earning up to $75,000 and households earning up to $150,000 will receive the full amount but will begin to be phased out as income levels rise above that.

“Much more money is coming,” Trump said in his signing statement. House Speaker Nancy Pelosi (D-Calif.) agreed, noting that Senate Republicans have so far not supported a stand-alone bill with more generous aid.

“Now, the President must immediately call on Congressional Republicans to end their obstruction and to join him and Democrats in support of our stand-alone legislation to increase direct payment checks to $2,000, which will be brought to the floor tomorrow,” Pelosi said in a Sunday evening statement. “Every Republican vote against this bill is a vote to deny the financial hardship that families face and to deny the American people the relief they need.”

How quickly the aid in the just-signed bill starts flowing remains to be seen. Last week, Treasury Secretary Steven Mnuchin said Americans would begin receiving stimulus payments this week.

The Centers for Disease Control and Prevention (CDC) has basically been begging consumers to stay home for the holidays to prevent a huge spike in new COVID-19 cases. However, those pleas seem to be falling on many deaf ears. 

Over the weekend, the Transportation Security Administration (TSA) recorded the highest number of travelers going through airport checkpoints since March, when the pandemic began in earnest.

On Sunday, the agency estimates that total traveler throughput was just under 1.3 million, slightly higher than Saturday’s throughput of over 1.1 million. While those numbers represent just under half of the number of travelers going through security checkpoints in 2019, the relatively higher volume as it relates to 2020 could lead to another big spike in cases. 

“Travel may increase your chance of spreading and getting COVID-19. CDC continues to recommend postponing travel and staying home, as this is the best way to protect yourself and others this year,” the CDC said in an advisory just before Christmas.

As of Monday, the U.S. has recorded just over 19 million cases of the coronavirus and more than 333,000 deaths. Dr. Anthony Fauci, the nation’s leading infectious disease expert, says that increased holiday travel may bring the U.S. to a “critical point” of the pandemic.

“I share the concern of President-elect Biden that as we get into the next few weeks, it might actually get worse,” he told CNN on Sunday.

A full recovery from the COVID-19 pandemic may still be out of sight, but some cities across America are already positioning themselves to bounce back from the outbreak stronger and better. A recent study from Moody's Analytics shined a light on the municipalities that are in the best -- and worst -- positions to recover from the pandemic. 

If you’re putting your money on the larger, more well-heeled cities to make the most dynamic recoveries, that wouldn’t be a good bet in the eyes of Adam Kamins, a senior regional economist at Moody's. From his perch, it won’t be the New Yorks and the San Franciscos, but rather the areas that were “poised to lead the way in 2020 before everything changed.”

The 10 best 

In compiling its top 10, Moody's measured population density against the number of jobs that require degrees to assess economic standing, according to Forbes. The firm also took a hard look at geographic areas where one or more counties are anchored by an urban center of at least 10,000 people. In that situation, Moody’s used levels of educational attainment and the average density across counties to calculate regional exposure to COVID-19.

Moody’s calculations for the 10 best-positioned cities to come out of COVID smelling like a rose are, in alphabetical order:

• Boise, ID

• Denver

• Durham, NC

• Madison, WI

• Provo, UT

• Raleigh, NC

• Salt Lake City

• San Jose, CA

• Tucson, AZ

• Washington, DC

The 10 worst

When it came to slackers, the 10 cities in the least favorable position to recover from the coronavirus are, alphabetically: 

• Detroit

• Honolulu

• Los Angeles

• McAllen, TX

• Miami

• New Haven, CT

• New York City

• Philadelphia

• Stockton, CA

• Tampa, FL

College towns and tech centers lead the way

Kamins pointed out that several of the 10 best areas are college towns such as Durham, NC; Provo, UT; Tucson, AZ; and Madison, WI. In his opinion, these areas could enjoy a surge in growth in the years to come.

He’s also betting on technology hotbeds in the Southern and Western U.S. to take a lead position in the post-pandemic era. 

“Silicon Valley is nobody’s idea of an up-and-coming area. But there is a notable contrast between the San Jose metro area, with its sprawling tech campuses, and tightly packed San Francisco,” said Kamins. 

He also noted that Microsoft is taking an interest in areas like Louisville, KY; Houston; and Syracuse, NY and trying to lure a growing number of people who are leaving big city life for something more manageable and less expensive. 

While recent studies have shown how environmental factors can increase the likelihood of young kids developing asthma, a new study conducted by researchers from Mount Sinai School of Medicine is exploring how kids’ diets can also play a role. 

According to the researchers, kids who consume higher quantities of meat could experience more severe asthma symptoms than those who eat less meat. They say this is because of the large traces of a compound found in non-seafood meat known as advanced glycation end-products (AGEs). 

“We found that higher dietary consumption of dietary AGEs, which are largely derived from intake of non-seafood meats, was associated with increased risk of wheezing in children, regardless of overall diet quality or an established diagnosis of asthma,” said researcher Dr. Jing Gennie Wang. 

Improving health outcomes

To understand how kids’ meat consumption can affect asthma symptoms, the researchers evaluated data from over 4,300 kids enrolled in the National Health and Nutrition Examination Survey (NHANES). The survey included information on the kids’ typical diets and their experience with asthma symptoms. 

The researchers learned that when kids consumed higher levels of AGEs, they were more likely to experience more severe asthma symptoms -- regardless of whether or not they had been diagnosed with asthma. 

Wheezing was found to be the most problematic symptom for the kids in the study, which makes sense when thinking about the nutritional make-up of foods that are high in AGEs. The researchers explained that AGEs increase inflammation, and that makes wheezing more likely. 

The study revealed that wheezing often affected kids as they were trying to go about their regular day-to-day routines. Activities like exercise or sleep were interrupted by wheezing, and many of the kids needed prescription medication to treat their asthma symptoms. 

Though these findings highlight a concern for young kids’ respiratory health, the researchers hope that parents and caregivers understand the importance of making healthier choices. Following a healthy diet can promote better overall health outcomes and help kids manage their asthma symptoms beyond childhood. 

“Research identifying dietary factors that influence respiratory symptoms in children is important, as these risks are potentially modifiable and can help guide health recommendations,” said researcher Dr. Sonali Bose. “Our findings will hopefully inform future longitudinal studies to further investigate whether these specific dietary components play a role in childhood airways disease such as asthma.” 

When the coronavirus (COVID-19) pandemic struck in March, credit card companies reacted almost immediately, unilaterally closing some accounts and approving fewer new ones.

Now that vaccines against the virus are rolling out and an end to the pandemic is in sight, what credit card trends are in store for 2021? CardRatings.com has issued a new report listing some of the changes consumers can expect in the coming year.

Among the trends, the company’s analysts believe it will continue to be a bit harder to open a new credit card account. When accounts are approved, they may also have smaller credit limits. That’s because credit cards are unsecured debt, meaning the lender has no collateral in the event that the consumer can’t pay. With unemployment still high and the economy still uncertain, lenders can be expected to show some caution.

"Thankfully, with the recent vaccine rollout, there's reason to be hopeful the economy – and credit card approvals – bounce back sooner rather than later," said Brooklyn Lowery, senior managing editor for CardRatings

Shifting rewards

In the meantime, there could be less available credit in the consumer economy. Small businesses may find they’re making fewer sales. On the other hand, the just-signed stimulus bill may help by putting money in consumers’ pockets.

Travel rewards cards are getting much less use during the pandemic, so lenders are finding alternative ways to reward cardholders for using them. One example is the Chase Pay Yourself Back program that allows consumers with the Chase Ultimate Rewards card to redeem points for several categories of everyday purchases. 

That perk was announced as a "limited time" feature earlier this year, but it has already been expanded to additional cards and extended into 2021. CardRatings analysts say the program could even become a permanent feature as banks try to retain cardholders while attracting new ones.

Rising rates

A third trend to watch for in the coming year is rising credit card interest rates. Rates have been stable and even declined some during the pandemic because the Federal Reserve has essentially cut a key interest rate to 0 percent.

CardRatings analysts don’t expect that trend to continue. Bond yields are already beginning to show some signs of life, and credit card rates could soon rise as well, especially as the pandemic begins to end.

"Historically, interest rates tend to go up as the economy improves," Lowery said.

That’s why consumers should start now paying down credit card balances. In the future, more of the monthly payment may go toward just paying interest.

As more and more studies highlight the health concerns associated with vaping -- which include serious lung damage and heart issues -- a new study conducted by researchers from the University of Rochester Medical Center is exploring how e-cigarettes can affect consumers’ mental function. 

According to their findings, vaping can have a negative effect on memory, thinking skills, and the ability to focus. The researchers say they are most worried about young people who vape. 

“Our studies add to growing evidence that vaping should not be considered a safe alternative to tobacco smoking,” said researcher Dongmei Li, PhD. 

Issues with cognitive function

The researchers conducted two studies to help them better understand what effect vaping has on consumers’ mental faculties. One study analyzed data from over 886,000 participants involved in the Behavioral Risk Factor Surveillance System Survey, and the other study looked at more than 18,000 responses to the National Youth Tobacco Survey. 

Ultimately, the researchers learned that participants who vaped or smoked cigarettes were more likely to struggle with cognitive function than those who had never smoked in any capacity. The study revealed that smoking -- whether e-cigarettes or traditional cigarettes -- was associated with three primary cognitive issues: decision-making, memory, and concentration. 

Additionally, the researchers explained that age played a large role in the participants’ cognitive abilities. They found that when participants were younger than 14 when they started vaping or smoking, they were even more likely to have cognitive struggles as adults. 

Though vaping rates for young people have declined in the last year, and many companies have put age restrictions on e-cigarettes to help prevent young people from picking up the habit, a great deal of e-cigarette advertising has previously been geared towards the younger demographic. The researchers are particularly concerned because high school age is a pivotal time in the brain’s development process. If young people have already picked up a smoking habit by this age, it could affect brain function long-term. 

“With the recent rise in teen vaping, this is very concerning and suggests that we need to intervene even earlier,” said Dr. Li. “Prevention programs that start in middle or high school might actually be too late.” 

Hyundai Motor America is recalling 8,176 model year 2019-2020 Nexo Fuel Cell and model year 2019-2021 Kona Electric vehicles. The Integrated Electronic Brake (IEB) system may detect an abnormal sensor signal and -- as a result -- may significantly reduce braking performance.

Reduced braking power could lengthen the distance required to stop the vehicle, increasing the risk of a crash.

What to do

Hyundai will notify owners, and dealers will update the IEB software free of charge.

The recall is expected to begin January 22, 2021.

Owners may contact Hyundai customer service at (855) 371-9460. Hyundai's number for this recall is 199.

Cycling Sports Group of Wilton, Conn., is recalling about 1,270 Cannondale Canvas NEO bicycles.

The front fender can detach and cause the front wheel to stop abruptly, posing a fall hazard.

The firm has received eight reports of the fender detaching and contacting the bicycle wheel, two of which resulted in injuries involving bruising and abrasions.

This recall involves all Cycling Sports Group Cannondale Canvas NEO bicycles.

These are “e-bicycles” that have an electric assist motor, and they were sold in a variety of different colors and sizes. Affected bicycles are marked “Canvas” on the top tube and have an electric assist motor.

Only models of “Canvas” bicycles with an electric assist motor are included in this recall.

The bicycles, manufactured in Taiwan, were sold at authorized Cannondale dealers nationwide from June 2019, through October 2020, for between $3,200 and $4,200.

What to do

Consumers should immediately stop riding the bicycle until the front fender is removed, and contact their local authorized Cannondale dealer or Cycling Sports Group to arrange for a free repair.

Consumers may contact their local authorized Cannondale dealer, or Cycling Sports Group at (800) 245-3872 (800-BIKE USA) from 9 a.m. to 6 p.m. (ET), Monday through Friday, by email at ridersupport@cannondale.com or online at www.cannondale.com and click on “Recalls and Notices” at the bottom of the page for more information.

Coronavirus (COVID-19) tally as compiled by Johns Hopkins University. (Previous numbers in parentheses.)

Total U.S. confirmed cases: 18,057,172 (17,860,634)

Total U.S. deaths: 319,827 (317,729)

Total global cases: 77,556,703 (76,975,940)

Total global deaths: 1,706,513 (1,697,062)

Vaccines are being tested against new virus strain

A new strain of the coronavirus (COVID-19) discovered in the U.K. has raised a troubling question. Will the newly developed vaccines currently being rolled out work against it? The developers are about to find out.

Both Pfizer and Moderna have said they are testing their vaccines against the mutated virus, which appears to be much more contagious than the original. 

"We expect that the Moderna vaccine-induced immunity would be protective against the variants recently described in the UK; we will be performing additional tests in the coming weeks," Moderna said in a statement. Pfizer said it is currently generating data on how well blood samples from immunized people "may be able to neutralize the new strain."

U.S. considers COVID-19 test for arrivals from the U.K.

After three airlines said they would begin testing arriving passengers from the U.K. for the new strain of the coronavirus, the U.S. government is reportedly considering mandating the move for all carriers.

If enacted, all passengers traveling from the U.K. would be required to receive a negative COVID-19 test within 72 hours of departure. Most European nations have already imposed the requirement.

New York Gov. Andrew Cuomo pressed the issue over the weekend, expressing the concern that some of the thousands of travelers arriving in New York from the U.K. could be carrying the new strain.

Biden may order more vaccines to be produced

President-elect Biden is reportedly weighing the possibility of invoking the Defense Production Act (DPA) to increase the production of the coronavirus vaccines that are now being distributed nationwide.

Published reports say Biden’s coronavirus advisory team has talked with both scientists and supply chain experts about whether that move would be helpful. The vaccine produced by Pfizer and BioNTech has been moving across the country for more than a week. The Moderna vaccine began distribution on Monday.

Early in the pandemic, the Trump administration invoked the DPA to increase the production of medical supplies and elements needed to conduct more tests for the virus.

Pharmacy chains scramble to hire pharmacists

Both Walgreens and CVS have been pressed into early service to distribute the coronavirus vaccine to nursing homes around the country, and both companies are looking for reinforcements.

CVS sent a mass email to customers asking for available pharmacists, nurses, and pharmacy techs to sign on. CVS said it is hoping to hire both short- and long-term employees for the project.

Walgreens may hire as many as 25,000 health care professionals. Specifically, it says it needs as many as 9,000 pharmacists to join its staff of 75,000 pharmacists and technicians.

Pandemic likely to reduce U.S. life expectancy

Life expectancy in the U.S. increased slightly in 2019. The Centers for Disease Control and Prevention (CDC) says life expectancy may take a step back in 2020 because of the coronavirus. COVID-19 became the third leading cause of death this year.

There have been well over 300,000 deaths from the virus so far this year, but health officials say other factors are at work. There have been fewer deaths from heart disease and cancer this year, which are the top two causes of death in the U.S.

Around the nation

• Missouri: CVS drug stores will be busy next week. The retail pharmacy chain said it plans to administer 100,000 COVID-19 vaccinations at nursing homes around the state next week.

• New Jersey: State officials are asking residents to keep holiday celebrations to a minimum this week -- or at least, keep the number of participants in check. "Please, even though we all want to, do not hold a large indoor family Christmas gathering or indoor New Year's Eve party," said Gov. Phil Murphy. 

• Delaware: As Congress prepared to vote on a national aid package, Gov. John Carney and the Delaware Division of Small Business announced a new round of relief funding – $26 million to support small businesses most affected by COVID-19 restrictions. “Small businesses continue to make sacrifices that will help get us through this crisis and beat COVID-19. We owe them our support,” Carney said.

Earlier this week, several European countries issued travel bans after a COVID-19 variant was found in the United Kingdom. Now, the U.S. government is pondering whether it should follow suit. 

In a report from Reuters, airline and government officials briefed on the situation say the U.S. is leaning towards requiring all passengers traveling from the U.K. to prove that they’ve tested negative for COVID-19 within 72 hours of departure. If they can’t, they won’t be entering the U.S. -- simple as that.

Waiting on a decision from Washington

The only thing in the way is getting the White House’s coronavirus task force to sign off on the decision. The task force’s buy-in appears to be nothing more than a formality, but there’s been no indication thus far about whether the president approves or disapproves of the move.

The task force discussed requiring pre-flight tests after a meeting on Monday when news of the highly infectious coronavirus strain in the U.K. was breaking. However, New York Governor Andrew Cuomo decided not to wait on word from D.C. and moved to protect his own backyard. 

On Monday, Cuomo got British Airways, Delta Air Lines, and Virgin Atlantic to voluntarily agree to only allow passengers who test negative to fly from London to New York’s John F. Kennedy International Airport.

The CDC weighs in

In late November, the Centers for Disease Control and Prevention (CDC) updated its recommendations regarding international air travel -- suggesting that travelers get tested 1-3 days before their flight and 3-5 days after travel, plus stay home for an additional 7 days.

However, the agency has yet to make official recommendations for flights coming from the U.K. to the U.S. as they relate to news of the variant, preferring to take a more cautious position. 

In a statement on its website published Tuesday, the agency said that its scientists are studying the variant to get a handle on how easily it can be transmitted and whether or not the currently authorized vaccines will protect people against it. 

“At this time, there is no evidence that this variant causes more severe illness or increased risk of death. Information regarding the virologic, epidemiologic, and clinical characteristics of the variant are rapidly emerging. CDC, in collaboration with other public health agencies, is monitoring the situation closely. CDC will communicate new information as it becomes available,” the agency wrote.

Congress has given final approval to a coronavirus (COVID-19) aid package, and Treasury Secretary Steven Mnuchin says Americans will start receiving direct payments beginning next week.

Under the measure, American adults and children will each receive payments of $600, based on household income. Single individuals with incomes of up to $75,000 will receive the full $600, with couples earning up to a combined $150,000 a year also getting the full amount.

As incomes increase over those thresholds, the amount of the payment is reduced, until it is finally phased out altogether for high-income individuals and households. Mnuchin said the government will act quickly to get the money in people’s bank accounts.

“People are going to see this money [at] the beginning of next week,” he said during an interview with CNBC. “Much needed relief — and just in time for the holidays.”

First round of payments took longer

To meet that kind of ambitious timetable the system will need to have made some improvements. When the CARES Act was passed in April it took about two weeks for the money to start flowing. Some Americans received their checks quickly but for others, it took several weeks or even months.

The distribution was carried out by the Treasury Department -- specifically, the Internal Revenue Service (IRS), which is now just beginning to gear up for the 2020 tax-filing season.

The Government Accountability Office (GAO) says the agency distributed more than 81 million payments earlier this year totaling more than $147 billion, all through electronic transfers. Recipients will not need to take any action to receive the money since the IRS will base the distribution on 2019 tax returns.

Boosting the economy

The relief measure, which took nine months to negotiate, also provides relief in the form of expanded unemployment benefits. Mnuchin says that, in combination with direct payments, will give the economy a much-needed boost.

“The good news is this is a very, very fast way of getting money into the economy,” Mnuchin said. “Let me emphasize: People are going to see this money at the beginning of next week.” 

Mnuchin said he hopes Americans will quickly spend the money, helping the economy and in particular small businesses that have been hard hit by the pandemic.

Student debt in the U.S. ballooned to over $1.7 trillion in the third quarter of 2020, according to Federal Reserve estimates. 

That figure represents an increase of almost 4 percent year-over-year and a staggering 102 percent increase from ten years ago, CNBC reported. Towards the end of 2010, Americans owed around $845 billion in student loans. 

As student debt totals have snowballed, lawmakers have proposed a number of different policies. The CARES Act passed by Congress in March halted federal student loan payments. That provision has been extended through January 2021. 

President-Elect Joe Biden has been urged by House and Senate Democrats to take executive actions when he takes office to implement resolutions that would forgive up to $50,000 of federal student debt for borrowers. 

Tackling the crisis 

Student debt reform was a key part of Biden’s presidential campaign. Though he hasn’t said specifically what he plans to do once inaugurated, he proposed creating a program that offers $10,000 of undergraduate or graduate student debt relief for every year of national or community service.

“Individuals working in schools, government and other non-profit settings will be automatically enrolled in this forgiveness program; up to five years of prior national or community service will also qualify,” according to the proposal. 

In the longer-term, Biden has proposed eliminating undergraduate tuition-related federal student debt from public colleges for people who make less than $125,000 per year.

Proponents of such resolutions argue that wiping out student debt would help the struggling economy, since money that doesn’t get thrown at student loans would be spent in the retail industry or put toward big purchases like buying a house.