European authorities will release data on Friday that is widely expected to show another economic downturn over the first three months of the year as the still-raging pandemic has prompted governments to extend lockdowns. Coming a day after the United States disclosed that its economy expanded 1.6 percent over the same period — a robust 6.4 percent annualized rate — the … [Read more...] about Europe’s economy is expected to shrink while the U.S.’s grows.
United States Economy
“People are fed up with this,” said Senator Rick Scott of Florida, who heads the campaign arm for Senate Republicans leading into the 2022 elections.Those attacks do not seem to carry the same sway that they did during Mr. Obama’s tenure, when the White House proposed a much smaller economic stimulus package than many economists thought was warranted given the huge erosion in … [Read more...] about Biden, Calling for Big Government, Bets on a Nation Tested by Crisis
The Federal Reserve is expected to keep its monetary policy in crisis mode when it concludes its latest meeting on Wednesday, even as the economy improves.The question now is how long it will take for the recovery to progress enough to inspire the central bank to change course.The Fed has held interest rates near zero since March 2020, and is buying bonds at a pace of about … [Read more...] about The Fed’s patient approach could be tested soon.
When Jerome H. Powell, the Federal Reserve chair, speaks to reporters in a webcast news conference on Wednesday afternoon, he’s likely to face questions about a simmering topic: inflation.Prices are expected to pop in the coming months, both as inflation indexes lap very weak 2020 readings and as supply chains experience short-term reopening bottlenecks. The unknowns facing the … [Read more...] about How the Federal Reserve Gauges Inflation
By contrast, “right now what seems to be happening is that job creation is outpacing the search effort that workers are putting forth,” said Professor Marinescu, an economist at the University of Pennsylvania. “Compared to how people reacted last spring, it’s not that long ago, but the situation has changed a bit.”That is to say, a similar decline in workers’ desire to pursue … [Read more...] about Unemployment Is High. Why Are Businesses Struggling to Hire?