We wanted to share this latest edition of The Weekly Bottom Line from TD Economics.
Here are the highlights:
- Data on U.S. fourth-quarter GDP showed the economic recovery continuing, but at a much slower pace (4% annualized) than the previous quarter (33.4%).
- The Federal Reserve held its policy rate unchanged and committed to doing all it can to support the recovery. It warned economic momentum has weakened with the spread of the virus.
- Vaccinations offer the best hope for faster growth. Assuming vaccine campaigns are successful, several months of cabin fever could lead to an even faster unleashing of spending than expected in the second half of this year.