The Federal Open Market Committee kept monetary policy unchanged at their meeting this week as expected, with the fed funds target rate in a range of 0.0% to 0.25%. The Fed also continues to purchase $80 billion of Treasuries per month, and $40 billion of agency mortgage-backed securities per month. The vote to keep policy […]
President Biden signed the $1.9 trillion fiscal relief plan yesterday, bringing the total amount of pandemic-related fiscal relief legislation in the last year to about $5.5 trillion. At this time last year, financial markets were in turmoil amid an uncertain global economic outlook. Over the past year, robust fiscal spending along with the Federal Reserve’s […]
Estimates for US gross domestic product (GDP) growth this year have been revised higher. The current Bloomberg consensus estimate for 2021 US GDP growth is 5.5% (following a 3.5% decline last year). Although the labor market is still a long way from a full recovery, robust fiscal support should help support the economy in the […]
