Latest Economic outlook News

Health economist: Opioids cost community $3.3B in damages

Jun. 18, 2021 11:10 AM EDT

CHARLESTON, W.Va. (AP) — A Harvard health economist has testified that prescription opioids have caused an estimated $3.3 billion in damages in a West Virginia community. Thomas McGuire, professor of health economics at Harvard Medical School, testified Thursday in a...

Fed sees earlier time frame for rate hikes with inflation up

Jun. 16, 2021 18:19 PM EDT

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it may act sooner than previously planned to start dialing back the low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising inflation. ...

Text of the Federal Reserve's statement after its meeting

Jun. 16, 2021 14:22 PM EDT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price...

Asian shares mixed in quiet trading ahead of US Fed decision

Jun. 15, 2021 23:26 PM EDT

TOKYO (AP) — Asian shares were mixed in quiet trading Wednesday ahead of a U.S. Federal Reserve meeting that may give clues on what lies ahead with its massive support for markets. Japan released data that showed its trade surplus jumped 49.6% in May from the previous...

Delicate task for Fed: When to pull back on low-rate support

Jun. 14, 2021 13:23 PM EDT

WASHINGTON (AP) — With inflation rising in a fast-rebounding economy, the Federal Reserve is poised this week to discuss when it will take its first steps toward dialing back its ultra-low interest rate policies. It will be a fraught discussion, one likely to occur over...

Europe's stimulus likely to keep running as economies reopen

Jun. 09, 2021 06:46 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank is expected to leave its stimulus efforts running at full steam Thursday — even as the economy shows signs of recovery thanks to the easing of pandemic restrictions. And that could present a challenge for ECB head...

Asian shares mixed as China reports jump in inflation

Jun. 09, 2021 00:14 AM EDT

Asian shares were mixed on Wednesday after China reported a big jump in factory gate prices at a time when inflation is a top investor concern. Shares fell in Tokyo, Seoul and Sydney but rose in Shanghai and Hong Kong. China's producer price index,...

World Bank sees 5.6% global growth in 2021, best since 1973

Jun. 08, 2021 09:54 AM EDT

WASHINGTON (AP) — The World Bank is upgrading the outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades. In its latest Global...

UK Treasury chief optimistic on tax deal targeting big tech

Jun. 04, 2021 08:19 AM EDT

LONDON (AP) — Britain’s Treasury chief says he’s optimistic finance ministers from the world’s richest countries will agree on plans to help low-income countries combat COVID-19, slow global warming and confront tax avoidance during two days of meetings in London. ...

Brazil's economy grows more than expected in first quarter

Jun. 01, 2021 15:26 PM EDT

RIO DE JANEIRO (AP) — Brazil's economy grew more than expected in the first quarter of 2021, continuing its rebound from pandemic recession as many declined to hunker down amid COVID-19's brutal second wave. Latin America's largest economy grew 1.2% from the fourth...