Fed sees growth surge, above-target inflation in 2021; no change on rates

Officials see 2021 GDP growth of 6.5%, unemployment at 4.5%

The Federal Reserve on Wednesday projected a rapid jump in US economic growth and inflation this year as the Covid-19 crisis winds down, and repeated its pledge to keep its target interest rate near zero for years to come.

The US central bank now sees the economy growing 6.5% this year – predicting the largest annual output growth since 1984 – and the unemployment rate falling to 4.5% by year’s end, compared to growth of 4.2% and unemployment of 5% projected at its December policy meeting.

The pace of price increases is now expected to exceed the Fed’s 2% target for the year, hitting 2.4% by year’s end before falling back in 2022.

“Indicators of economic activity and employment have turned up,” the policy-setting Federal Open Market Committee said in a statement that kept the benchmark overnight interest rate in a target range of zero to 0.25%.

The improvement in the Fed’s economic outlook did not immediately alter policymakers’ expectations for interest rates, though the weight of opinion did shift. Seven of 18 officials now expect to raise rates in 2023, compared to five in December.

Comments

Nearly 10 mn Afghan children in desperate need of humanitarian aid: UNICEF

There are nearly 10 million children in Afghanistan “in desperate need of humanitarian aid”, said UNICEF Afghanistan Representative, adding these children are deprived of right to a healthy childhood There are nearly 10 million children in Afghanistan “in desperate need of humanitarian aid”, said UNICEF Afghanistan Representative, Herve Ludovic De Lys, adding that these children are deprived of their right to a healthy and protected childhood. “Those least responsible for this crisis, are paying the highest price — including the children killed and injured in a series of atrocities in Kabul since last Thursday”, the senior UN Children’s Fund official told correspondents. “Again, today, I heard of more unsettling reports – of unaccompanied children across the country…more reports of grave violations, including children being recruited by armed groups…All this in a year in which more than 550 children have been killed, and more than 1400 injured.” He said that against a...

'When rape is inevitable, enjoy it...': Congress MLA in Karnataka Assembly

Senior Karnataka Congress leader KR Ramesh Kumar made a sexist and unsavoury comment on rape in the state Assembly Senior Karnataka Congress leader and former Karnataka Assembly Speaker KR Ramesh Kumar on Thursday made a sexist and unsavoury comment on rape in the state Assembly. Speaking in the Assembly, Kumar said, “There is a saying that when rape is inevitable, lie down and enjoy it. That is exactly the position in which you are.” The senior Congress MLA’s remark was made when MLAs began to demand time from Speaker Vishweshwara Hegde Kageri to discuss farmers’ issues in the Assembly. When the Speaker asked how the Session would be conducted if the time was allotted to everyone. “Whatever you decide I will say yes. What I am thinking is that let us enjoy the situation. I can’t control or regulate the system, my concern is about the business of the house, it has also to be covered,” the Speaker told the members. To this, the Congress MLA Ramesh Kumar mad...

Best Unconventional Workout and Sporting Activities for Summer

In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Summer is the season of holidays, picnics, outings and beaches. With travel and binge eating proper workout becomes that much more essential in summers. But with heat and the sun outdoors, an individual has to balance his indoor and outdoor activities to get a fulfilling workout. In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Mentioned below are some of the best physical and sporting activities that one can use as a workout to stay fit in the summer season. Beach Sports - If in summers one is going to spend much time on beaches or at a beach destination then one may use beach sporting activities such as beach rugby, beach soccer, beach tennis and beach volleyball to stay fit. All of these sporting activities on sand provide a ...

Budget 2018-19

Search This Blog