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FOMC-Protokoll: Tür offen für die Tapering-Debatte
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FOMC: Tapering could start by year-end – UOB
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Fed to retain the dovish tilt despite higher US inflation – UOB
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5/21/2021 9:28:02 AM GMT | By Pablo Piovano
Alvin Liew, Senior Economist at UOB Group, assesses the FOMC minutes of the April 27-28 meeting (Wednesday).
Key Quotes
“The key highlight of the 27-28 April FOMC policy meeting minutes was a number of the participants “suggested that if the economy continued to make rapid progress toward the Committee s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases”. However, it is noted that this view came ahead of the disappointing April jobs miss and that the US economy remains more than 8 million jobs below the pre-pandemic level (of Feb 2020) coupled with a surprise uptick in unemployment rate.”
5/3/2021 9:55:19 AM GMT | By Pablo Piovano
Senior Economist at UOB Group Alvin Liew reviews the recent US GDP results for the January-March period.
Key Quotes
“US 1Q 2021 GDP increased by 6.4% q/q SAAR (slightly missing Bloomberg Est 6.5%, but much better than UOB Est 2.0%), up from 4.3% in 4Q 2020. Excluding the record 3Q 2020 GDP surge, this would be the fastest GDP growth quarter since 3Q 2003.”
“The growth in 1Q was largely attributed to the strength in private consumption, while business & residential investments and government’s consumption expenditure & investment also contributed, albeit a much smaller share of the overall growth.”
“The robust 1Q GDP reading together with the recent set of very promising US economic data, adds to the positive US growth outlook, anchored by the continued success in the rollout of vaccinations across the US, and massive amounts of fiscal stimulus. That said, the growth trajectory rema