major economies, according to Goldman Sachs Group Inc., while Citigroup Inc. warned the recovery could moderate with a deepening divergence between sectors and regions. “The spread of the delta variant is slowing the reopening process and has caused us to mark down growth globally," said Robin Brooks, chief economist of the Institute of International Finance in Washington, referring to its revised 5.7% forecast for this year, from 6.2%.
That stumble could complicate central bank’s plans to pull away from their crisis support by slowing asset purchases or raising interest rates.
Federal Reserve Chair Jerome Powell on Aug. 28 warned of ongoing slack in the labor market as the pandemic continues. What Bloomberg Economics Says... “‘From a