Headlines discussed at LNWM’s Monday morning briefing:
— The US economy shrank 3.5% for all of 2020 but is expected to expand by around 5% in 2021, after posting 4% annualized growth in 4th quarter 2020.
— The Federal Reserve said it will leave its key interest rate near zero and keep buying $120 billion in bonds each month, as it sees economic growth slowing.
— Signs of US inflation inching upward are starting to emerge, including in US wages, even as US consumer spending is slightly down due to pandemic.
— A key index for US factory activity fell slightly in Dec., but is still in strong expansion mode, while prices paid by factories rose to highest level since 2011.
— A single-shot Covid-19 vaccine by Johnson & Johnson (the 3rd one approved) is 66% effective overall but reduces severe versions by 85% while preventing death.
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