The Federal Reserve seems to have succeeded in reining in inflation without derailing the economy. But the U.S. is still likely to feel the pinch from...
The prospect of a soft landing for the U.S. economy seems to be coming true. The Federal Reserve looks to have engineered a Goldilocks scenario, wherein a just-right increase in interest rates has led to a just-right economy and diminished inflation.
China has even bigger problems than Europe. A deflating property bubble and a weak recovery from Covid-19-era lockdowns have left the economy struggling. Plus, there’s a whiff of deflation. Beijing is aiming for about 5% growth this year in gross domestic product, the lowest target in a quarter-century. China’s economy is unlikely to get there, considering a string of disappointing data released in recent months.
The World Bank has warned of a “lost decade” for the global economy, and has forecast that growth for the remainder of the 2020s could hit a three-decade low. It cites an aging workforce, weaker investment, and lower productivity. U.S. GDP rose 2.4% on an annualized basis in the second quarter. The Federal Reserve Bank of Atlanta’s GDPNow model, which estimates real GDP growth based on available economic data, forecasts an annualized rise of 5.8% in the third quarter.
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