The global economy continued to slow in 2019. Growth has held up well in the United States, but has decelerated in many other major economies as a diverse range of challenges weigh on global activity. These include political uncertainty in many European and Latin American countries, financial turbulence in some large emerging markets, China’s efforts to address corporate debt vulnerabilities, and ongoing geopolitical tensions. Growth has also been held back by inadequate policy support, especially from fiscal policy, as well as elevated leverage in both the private and public sectors in major economies. The ... (full story)

In another sign of thawing relations, the U.S. Treasury on Monday formally stepped back from its decision last year to label China a currency manipulator. “Treasury has determined that China should no longer be designated as a currency manipulator at this time,” the department said in its semi-annual report on currency intervention. Treasury said that the Phase One trade deal to be signed this week contains enforceable commitments by China to refrain from currency devaluation and not target its exchange rate for competitive purposes. China has also agreed to publish relevant information related to exchange rates and ... (full story)