- Joined
- Jun 18, 2018
- Messages
- 54,877
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- Political Leaning
- Progressive
The Biden boom is underway.
"Amid steady progress with coronavirus vaccinations, the U.S. economy is gathering so much steam that its gains will not stay at home. Demand for goods and services this year is expected to spill well beyond U.S. borders, making the United States the largest single contributor to global growth for the first time since 2005, according to Oxford Economics.The U.S. ascent ends — at least for now — China’s long reign as the principal engine powering the $90 trillion global economy.
Free spending by the Biden administration — coupled with the Federal Reserve’s ultralow interest rates — is driving the nascent U.S. boom and lifting other countries, where governments have not responded as aggressively to the pandemic. As Americans spent their $600 government stimulus checks in January on furniture, laptops and clothing, the U.S. imported a record $221 billion worth of goods. And that was before a round of $1,400 checks in March.
...A strengthening U.S. economy, however, is welcome after a year of pandemic gloom. But as expectations of strong growth drive up long-term interest rates, investors are pulling money out of emerging markets to earn higher returns in the United States. More than $5 billion left developing countries in March, which some analysts worry could herald larger outflows to come and undermine recovery prospects in poor and middle-income nations."
"Amid steady progress with coronavirus vaccinations, the U.S. economy is gathering so much steam that its gains will not stay at home. Demand for goods and services this year is expected to spill well beyond U.S. borders, making the United States the largest single contributor to global growth for the first time since 2005, according to Oxford Economics.The U.S. ascent ends — at least for now — China’s long reign as the principal engine powering the $90 trillion global economy.
Free spending by the Biden administration — coupled with the Federal Reserve’s ultralow interest rates — is driving the nascent U.S. boom and lifting other countries, where governments have not responded as aggressively to the pandemic. As Americans spent their $600 government stimulus checks in January on furniture, laptops and clothing, the U.S. imported a record $221 billion worth of goods. And that was before a round of $1,400 checks in March.
...A strengthening U.S. economy, however, is welcome after a year of pandemic gloom. But as expectations of strong growth drive up long-term interest rates, investors are pulling money out of emerging markets to earn higher returns in the United States. More than $5 billion left developing countries in March, which some analysts worry could herald larger outflows to come and undermine recovery prospects in poor and middle-income nations."
