U.S. Economic News

April 14, 2021

U.S. News

The Wall Street Journal reports that the International Energy Agency raised its annual forecast for oil demand in its most recent monthly report, suggesting that the global energy market continues to recover as oil prices rise. In addition, the buildup of global oil inventories from last year’s demand shock is being steadily drawn down, though fresh COVID-related restrictions in parts of Europe could dampen demand in the coming weeks. WSJ

Bloomberg reports that Federal Reserve officials are worried that disinflationary forces from before the pandemic may actually keep longer-term inflation below their 2% target, despite recent worries of inflation running too hot. While rising prices are a concern now as the global economy reopens, aggressive monetary policy actions over the last decade have been largely unsuccessful at raising inflation above 2% in many advanced economies, thanks to factors such as aging populations, technological innovation, and globalization. Bloomberg