• Global stocks drop after Fed's upbeat economic outlook dents chances of more stimulus

    3 days ago - By Business Insider

    Summary List Placement
    Global stocks slid on Thursday, while the dollar edged up, after the US Federal Reserve gave no indication that any new stimulus measures would be forthcoming, as the economy continues to recover from the effects of the coronavirus pandemic.
    In its last meeting before US presidential elections in November, the Fed raised its forecasts for US economic growth, inflation and predicted unemployment will shrink faster than it expected three months ago.
    "The recovery is here, it's well along," Fed Chairman Jerome Powell said at a press conference on Wednesday after the...
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