Provided by Dow Jones By Michael S. Derby Americans expectations for the inflation over the next few years hit its highest level last month since March 2014, amid surging expectations for housing related costs, the Federal Reserve Bank of New York said Monday. In the bank s Survey of Consumer Expectations for March, those polled said they see inflation a year from now at 3.2% and at 3.1% three years from now. Both readings were up 0.1 percentage points from February. Amid the jump in overall expected inflation, projected home price increases a year from now booked a 0.8% percentage point rise to a series high 4.8% gain. Expected rental costs and gasoline prices also hit the highest level of expected gains in the history of the New York Fed survey.
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Upward revisions of gross domestic product growth are the order of the day. In the last few weeks, we’ve seen Wells Fargo, the
Wall Street Journaleconomists survey, and the Congressional Budget Office raise their 2021 growth forecasts for the United States to 6% or better. And now, the International Monetary Fund’s April World Economic Outlook is calling for 6% growth for the global economy, up from its 5.5% January forecast.
We’ve seen nothing like these powerful annual numbers since 1983, when the real GDP growth tally was 7.9%. After all the recent misery, have we entered an exceptional high-growth era that will continue until mismanagement or misfortune brings an end to it? Or is it something else?
The Philippine peso depreciated against its US counterpart on Monday, as quarantine restrictions remained in Metro Manila and its nearby provinces, albeit looser. The local currency lost 2 centavos to close at P48.56:$1 from last Thursday's finish of P48.54:$1.
5 things to know before the stock market opens Monday msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
WASHINGTON (dpa-AFX) - Despite coming off the session's lows, the major U.S. averages continue to remain in negative territory nearly an hour past noon on Monday with investors making cautious