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US-driven global recovery could help lift laggards like Europe: Jerome Powell

Sumary of US-driven global recovery could help lift laggards like Europe: Jerome Powell:

  • Economy appears set to leave other developed markets in the dust this year with the largest annual growth spurt in decades, new Federal Reserve forecasts indicate, but that divergence is not worrying to the central bank’s top official…
  • rebound from the coronavirus pandemic will help jump-start countries still struggling to find their footing, such as Europe, rather than those weak showings overseas impeding the domestic recovery…
  • Powell’s comments came as he was asked about sharply contrasting outlooks that have emerged in recent weeks, in particular between the United States, where the vaccine rollout is on pace and federal relief spending approved in the last few months totals nearly $3 trillion, and Europe, where the inoculation effort is lagging and relief funds approved months ago remain in limbo….

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