Eliminating economic discrimination against POC and women could help add trillions of dollars to the GDP, says JP Julien.
Stock gains on Friday should pare weekly losses for Wall Street's main benchmarks.
GDP growth is expected to be the strongest since 1984 this year. But on a quarterly basis, June will mark the peak of faster growth, the bank said.
The global economy is set to grow 5.6% in 2021, but developing economies are falling behind due to slow vaccination, rising cases, and debt pressures.
The OECD lifted its 2021 global growth estimate to 5.8% from 4.2%. G20 nations will outperform while emerging nations are set to lag, the organization said.
Economic growth could boom past 7% and investors may be facing a risk that the Fed and economists are setting their sights on inflation and expansion too low, says Bank of America.
The US added 916,000 jobs in March, besting the 660,000 estimate, yet Insider calculates some 14.3 million jobs were still lost during the pandemic.
The $1.9 trillion stimulus plan approved this month contributed to a 45% jump in card spending from a year ago as of March 20, BofA economists said.
While Fitch's forecast calls for the fastest growth in decades, it's lower than estimates from Goldman Sachs, Morgan Stanley, and the Federal Reserve.
The bank lifted its 2021 outlook without including the $2 trillion-plus it expects Democrats to spend in an upcoming infrastructure plan.
The $2.2 trillion CARES Act and President Donald Trump's $1.9 trillion tax cut also signify Congress' new comfort with hugely expensive legislation.
Growth will remain strong throughout 2022 as the government passes yet another relief bill to aid the recovery, the bank's economists said.
Unemployment is forecast to average 4.9% in 2021 and 3.9% the following year, the bank said. That's still well above the pre-pandemic lows of 3.5%.
Soaring Treasury yields are a "natural reaction" if investors expect continued vaccination and effective stimulus, the Fed president said.
The Congressional Budget Office expects federal debt to reach 102% of US GDP in 2021. The estimate doesn’t account for the $US1.9 trillion stimulus plan Democrats are set to pass. The CBO sees the debt pile then shrinking for a few years before rising into the next decade. Visit the […]
US gross domestic product grew at an annualized rate of 4% in the fourth quarter, the Commerce Department said Thursday. Economists surveyed by Bloomberg expected growth to come in at 4.2%. The gains come after economic reopening drove a record-high growth rate of 33.1% in the third quarter. While the […]
The eurozone economy is going to need more support from both the central bank and national governments to avoid a deeper recession, the International Monetary Fund said. A second wave of the COVID-19 virus and the lockdowns it has brought across much of Europe means economic growth in the region […]