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 […]
U.S. nonfarm payrolls were stronger than expected in February, up 379,000, versus the Bloomberg consensus forecast of 200,000. January payrolls were also revised up by 117,000. Payrolls in the leisure and hospitality sector improved in February and were up 355,000, following a combined decline of 523,000 in December and January. The unemployment rate declined to […]
