Fed to Stay Patient as U.S. Outlook Improves: Decision-Day Guide
“Federal Reserve Chair Jerome Powell is expected to maintain aggressive U.S. economic support, even as faster vaccinations have brightened the outlook for recovery. The Federal Open Market Committee is all but certain to hold interest rates near zero at the conclusion of a two-day policy meeting Wednesday, and repeat a vow to keep buying bonds at the current $120 billion monthly pace. The panel will release a statement at 2 p.m. in Washington and Powell will hold a press briefing 30 minutes later. No quarterly forecasts are published at this meeting.”
U.K. Joins France With Vaccine Passport Plan to Lift Travel
“Britain is working on a digital Covid-19 vaccine passport as the move to restart travel in Europe gathers pace. The U.K. initiative, disclosed Wednesday by Transport Secretary Grant Shapps, is based on an existing National Health Service app, which will be adapted to help travelers prove they’ve had a jab or tested negative for the virus. The announcement comes a day after France started to trial short flights with a tracing app updated to host records of shots and tests, on short flights.”
Asia’s Kids Risk $1.25 Trillion in Income From Closed Schools
“Developing Asia’s economy will rebound faster this year than previously estimated, as nations tread diverging recovery paths, according to the Asian Development Bank. The region’s gross domestic product will expand 7.3% this year, better than the 6.8% forecast in December and a turnaround from last year’s 0.2% contraction, the ADB said in its Asian Development Outlook released Wednesday. It sees developing Asia’s growth moderating to 5.3% in 2022.”
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