Macro inventory: US economy’s downside surprise, while ECB hints at asset tapering
Posted On: 12th May 2021
Uncertainty obscures the global economic outlook. In the short term, global growth will correlate with the pandemic’s path: from the efficacy of existing vaccines to stem the emergence of possible new Covid-19 variants to the effectiveness of policy action and the varying resilience of different economies to lockdown restrictions. But the long-term effects of the pandemic may take years to become apparent, such as changes in long-term supply and demand across economies and in the evolution of financial markets.
Uncertainty obscures the global economic outlook. In the short term, global growth will correlate with the pandemic’s path: from the efficacy of existing vaccines to stem the emergence of possible new Covid-19 variants to the effectiveness of policy action and the varying resilience of different economies to lockdown restrictions. But the long-term effects of the pandemic may take years to become apparent, such as changes in long-term supply and demand across economies and in the evolution of financial markets.
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