IMF sees much stronger US growth, 2021 GDP up 7.0%

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IMF sees much stronger US growth, 2021 GDP up 7.0%

The Straits Times2021-07-02

WASHINGTON (AFP) - The IMF is bullish on the US economic recovery, predicting growth will hit 7 per cent this year - much stronger than previously forecast and "the fastest pace in a generation," the ...

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Atelophobia
·2021-07-02
Yes
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2
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- JSJs:
  y
  2021-07-17
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Ann1228
·2021-07-02
[Strong]
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Givethanks
·2021-07-02
Wow! Stronger even in Covid period. ?
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4
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heypanda
·2021-07-02
Wew
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3
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HenryGoei
·2021-07-02
Good news??
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What matters more than sizes, what is the composition of the packages,\" she said.\nThe IMF report said there is \"solid empirical evidence... of the societal payoffs\" of programmes like those Mr Biden has proposed, which include access to childcare to allow women to enter and remain in the workforce, and access to higher education and training to ensure younger workers have necessary skills for the jobs available.\nA \"permanent increase in taxes on corporate profits and on high income households is warranted\" to pay for the proposals.\n'SIGNIFICANT CONCERN'\nThe Washington-based crisis lender reserved its harshest comments for Mr Biden's trade policies, and said removing trade barriers would help support his worker-centric agenda.\n\"It is of significant concern... that many of the trade distortions introduced over the past four years remain in place,\" the report said.\nMr Biden has continued tariffs imposed by former president Donald Trump on imported steel and aluminium, washing machines, solar panels, \"as well as a range of goods imported from China.\"\nThe IMF also questioned the tougher requirements set by the Trump administration for US products in government procurement which remain in place.\n\"These policies should be reconsidered. Trade restrictions and tariff increases should be rolled back and 'Buy American' provisions should be tightly circumscribed,\" the report said.\nIMPROVING JOBS MARKET\nThe IMF forecast, which downplayed inflation risks, was in line with the Congressional Budget Office and Federal Reserve officials, which see strong government spending and a surge of consumer demand supporting the recovery and hiring as businesses work to return to normal.\nNew applications for US unemployment benefits fell last week to the lowest since the pandemic lockdowns began, dropping to 364,000, the Labour Department reported Thursday.\nAfter two months of tepid gains that fell short of expectations, the employment report for June due out Friday is expected to show a solid hiring to regain some of the 7.6 million jobs lost during the pandemic.\nThe consensus forecast is for an increase of 680,000 with the unemployment rate ticking down to 5.7 per cent, however, Oxford Economics sees a much higher increase while Ian Shepherdson of Pantheon Macroeconomics is expecting more than a million hires, which would be the most since August.\nMr Biden is expected to comment on the report on Friday, likely to focus on the recovery since he took office in January.\n\"The President's economic plan is working: Unemployment and Covid-19 are down; and jobs, economic growth, and consumer confidence are up,\" White House press secretary Jen Psaki said on Twitter.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":156026180,"gmtCreate":1625187124040,"gmtModify":1703737879062,"author":{"id":"3554174196307770","authorId":"3554174196307770","name":"Atelophobia","avatar":"https://static.tigerbbs.com/645b87814060f2e30161c10de2edf6b4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3554174196307770","authorIdStr":"3554174196307770"},"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156026180","repostId":2148827151,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5247864,"gmtCreate":1626510791694,"gmtModify":1663231096746,"authorId":4087604502480330,"author":{"id":4087604502480330,"idStr":"4087604502480330","authorId":4087604502480330,"name":"JSJs","avatar":"https://community-static.tradeup.com/news/3fff7ee9ece9eeb2cf6892cb93c1e21d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":156026180,"type":1,"supId":0,"prevId":0,"content":"<u>y</u>","text":"<u>y</u>","html":"<u>y</u>"}],"langContent":"EN"},{"id":156087297,"gmtCreate":1625186457819,"gmtModify":1703737856796,"author":{"id":"4087514122562540","authorId":"4087514122562540","name":"Ann1228","avatar":"https://static.tigerbbs.com/b3af1bd7bacf697b9051fb34013a15d1","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4087514122562540","authorIdStr":"4087514122562540"},"htmlText":"[Strong]&nbsp;","listText":"[Strong]&nbsp;","text":"[Strong]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156087297","repostId":2148827151,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":156018655,"gmtCreate":1625185835477,"gmtModify":1703737835981,"author":{"id":"3574408061337882","authorId":"3574408061337882","name":"Givethanks","avatar":"https://static.tigerbbs.com/dbab813b11cf5aa8ee53402f74a0450f","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3574408061337882","authorIdStr":"3574408061337882"},"htmlText":"Wow! Stronger even in Covid period. ?","listText":"Wow! Stronger even in Covid period. ?","text":"Wow! Stronger even in Covid period. ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156018655","repostId":2148827151,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":156031317,"gmtCreate":1625185299739,"gmtModify":1703737818405,"author":{"id":"3581497435782607","authorId":"3581497435782607","name":"heypanda","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581497435782607","authorIdStr":"3581497435782607"},"htmlText":"Wew","listText":"Wew","text":"Wew","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156031317","repostId":2148827151,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":156098142,"gmtCreate":1625184954986,"gmtModify":1703737804655,"author":{"id":"3561940699575283","authorId":"3561940699575283","name":"HenryGoei","avatar":"https://static.tigerbbs.com/a1049cc393c97ed4e179dbc46d637883","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3561940699575283","authorIdStr":"3561940699575283"},"htmlText":"Good news??","listText":"Good news??","text":"Good news??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156098142","repostId":2148827151,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":29,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}