The statement and press conference following the July U.S. Federal Open Market Committee (FOMC) meeting reinforced PIMCO’s outlook that in the second half of this year, the FOMC will announce it plans to begin to wind down its large-scale asset purchases. Indeed, the July FOMC
In 2019, the world released over 59 billion metric tons of carbon dioxide equivalent into the atmosphere, adding to the high and rising levels of CO2 already present.Footnote1 These emissions are changing the world’s climate and elevating average temperatures globally, according to a scientific consensus
In a surprisingly early conclusion of its monetary policy strategy review, the European Central Bank (ECB) rolled out several changes that will likely keep monetary policy easier for longer. The good news: The ECB adopted an easy-to-understand, symmetric (i.e., negative and positive deviations of inflation
On June 24, President Biden and a bipartisan group of 21 U.S. senators announced that after weeks of negotiations, they had agreed to a framework to spend $1.2 trillion over eight years on traditional infrastructure such as roads, bridges, the electrical grid, and digital infrastructure.
Global demand for consumer goods has rebounded since the second half of 2020, driven initially by large government stimulus packages and, more recently, by resilient capital expenditures and swift vaccination rollouts in most developed markets. But supply constraints remain. Some large emerging market manufacturing countries