The Federal Reserve made no substantial changes on Wednesday to the path of interest rates, its monthly $120 billion in asset purchases, overnight interest rates or interest paid on excess reserves. … READ MORE >
Blog
First-quarter GDP: Growth improves as the recovery accelerates
An improved public health outlook linked to mass vaccinations and a flood of fiscal aid coursing through the American economy boosted gross domestic product by 6.4% during the first three months of the year. … READ MORE >
3 things to know in energy: Sustainable financing, emissions goals, Exxon’s carbon storage project
Biweekly, we round up news and analysis about three things going on in the energy industry that we think you should know about. Here’s the latest. … READ MORE >
CHART OF THE DAY: Output gap to close in current quarter, an extraordinary achievement
We are now fully confident that the American economy will move back above the pre-pandemic level of activity in the current quarter. Given the size of the shock to the real economy, and the depth and breadth of the crisis, this recovery is remarkable. … READ MORE >
CHART OF THE DAY: Surging RSM US Manufacturing Outlook Index implies a robust recovery
For the second month in a row, manufacturers’ optimism surged, which implies further acceleration in overall industrial production and manufacturing conditions. … READ MORE >
GDP preview: 6% growth forecast with room to accelerate
We expect that the initial estimate of U.S. gross domestic product for the first quarter, which will be released Thursday, will show 6% growth, which is somewhat below the Bloomberg consensus of 6.8%. … READ MORE >
Global economy to expand by 6% as vaccinations accelerate
The events that shook the global economy to its core last year – policy errors and a pandemic occurring at the end of a decade-long business cycle — finally appear to be bottoming out. … READ MORE >
Interest rate update: The changing yield landscape, in eight charts
The yield on 10-year Treasury bonds has moved to 1.55%, within 50 basis points of already low pre-pandemic rates. While anything near 1.60% is better than the 0.60% observed last year, we expect the yield to rise to 1.9% at the end of the year. … READ MORE >
FOMC preview: You can’t always get what you want
The Federal Open Market Committee’s decision on the federal funds rate Wednesday will for the most part be a non-market-moving event, with the Federal Reserve looking to convey a consistent outlook on the direction of policy and rates. … READ MORE >
CHART OF THE DAY: Leading economic index points to robust expansion of industrial production
There are more signs of a recovery in the works. Both industrial production and the Conference Board’s leading economic indicator reported positive year-over-year growth rates in March. … READ MORE >