The Federal Reserve threw its weight back behind the drive for a full U.S. jobs recovery on Wednesday, restating its belief that current high inflation is "expected to be transitory" and, despite risks to that view, arguing that price pressures will ease and pave the way for stronger employment and economic growth in the months to come.
The European Bank for Reconstruction and Development (EBRD) on Thursday lifted this year's growth forecast for the 37 countries in its region, but warned rising energy costs and slow COVID-19 vaccination progress dampened prospects ahead.
The Fed's well-telegraphed taper announcement has done little to soothe the nerves of some investors, who remain on edge about stubbornly persistent inflation and are looking to trim risk as they prepare for rockier times.
Strolling along the coast of Nea Irakleia village where he would go swimming as a young man, George Perperis points to where there was once a beach, now submerged by seawater.