Browsing: Pandemic

Economy

Progress on vaccinations has continued to strengthen indicators of economic activity and employment, the Federal Open Market Committee said today, adding that while the sectors most adversely affected by the pandemic have shown improvement, they have not fully recovered.

Economy

Testifying before a House hearing today, Federal Reserve Chairman Jerome Powell said that a recent rise in inflation is transitory and that a “perfect storm” of strong demand and weak supply due to the reopening of the economy is a substantial cause.

Economy

The economic projections coming out of the Federal Open Market Committee’s April meeting were slightly stronger than the group’s March forecast. In minutes from the committee’s April 27-28 meeting, members said that real GDP growth was projected to post a “substantial increase” this year, along with a “rapid decline” in the unemployment rate.

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