FOMC: Asset Purchases May be ‘Moderated’ if Economic Progress Continues
If the economy continues to improve broadly, “a moderation in the pace of asset purchases may soon be warranted,” the Federal Open Market Committee said today.
Browsing: Pandemic
Fed: Vaccination Progress Continues to Strengthen 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.
JPMorgan Chase Survey: 88% of Business Leaders Optimistic About Next Six Months
Eighty-eight percent of midsize business leaders are optimistic about their company’s performance in next six months, up significantly from 56% one year ago and the highest percentage recorded in 11 years of JPMorgan Chase’s Business Leaders Outlook Pulse survey, the bank said yesterday.
FSB: Reforms, Bold Policy Response Enabled Financial System to Weather Pandemic
The global financial system has weathered the pandemic due to greater resilience, supported by the G20 reforms, and a “swift, determined and bold international policy response,” according to a new interim report from the Financial Stability Board.
Powell: Recent Rise in Inflation Is ‘Transitory’
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.
Fed: Economic Risks Remain Even as Vaccinations Reduce Effects of Pandemic
Risks to the economic outlook remain even as progress on vaccinations will likely continue to reduce the effects of the coronavirus pandemic, the Federal Open Market Committee said today, adding that the path of the economy will significantly depend on the course of the virus.
FOMC Signals Cautiously More Positive Outlook During April Confab
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.
Fed: Economic Activity Has Strengthened but Pandemic Still Weighs on Economy
Indicators of economic activity have strengthened recently as a result of progress on vaccinations but the COVID-19 pandemic still weighs on the economy, the Federal Open Market Committee said today.
Survey: Pandemic Spurs Interest in Opening Bank Accounts Online
The pandemic encouraged more people to consider opening a bank account online, according to a new FICO survey released today.
Treasury Establishes New Office of Recovery Programs
The U.S. Treasury today announced the creation of the Office of Recovery Programs to administer economic relief and recovery programs.