Charting the Global Economy: Fed Pulls Up Expected Liftoff Date

The Federal Reserve pulled forward its expected date for when central bankers will start to raise the U.S. benchmark interest rate, reflecting optimism about the labor market and heightened inflation concerns.

Growth expectations are improving for Italy and the rest of Europe amid reopenings and more vaccinations against Covid-19. In China, the economic recovery is stabilizing, with a shift toward consumer-driven demand.