Could the U.S. get back to pre-pandemic economic growth soon?
Mar 9, 2021

Could the U.S. get back to pre-pandemic economic growth soon?

The OECD calculated that the world economy will grow by a brisk 5.6% this year and that the new stimulus, if approved, could add 3% or 4% to U.S. economic output in its first year. Plus, new data on how the COVID relief package is expected to significantly reduce poverty rates. And, vaccine manufacturers meet to discuss global supply chain issues.

Segments From this episode

OECD ramps up forecasts for U.S. economic growth in 2021

The improvement is tied to vaccine rollouts and the planned $1.9 trillion relief package. “Some point during mid-year, U.S. economic output is expected to breach or meet the pre-virus level of output,” said Jeffrey Cleveland, chief economist at Payden & Rygel. “So we’ll make up for lost ground, lost time, which is great news for the U.S.” Now, U.S. interest rates could trend up in that kind of environment, relative to the rest of the world, which could make investment in the U.S. more attractive than investment in emerging markets. “As the U.S. recovers to pre-virus levels, the OECD expects that many of the other countries on Earth will still remain well below pre-virus levels, and so that will be a gap that needs to be made up in 2022.”

Indian drugmaker says U.S. is hoarding vaccine ingredients

Mar 9, 2021
The CEO of the Serum Institute of India said American raw materials are running out due to Biden administration policy.
The CEO of the Serum Institute of India said at a panel last Thursday that American raw materials are running out. Pictured: A Serum Institute employee works on an assembly line for the AstraZeneca vaccine.
Punit Paranjpe/AFP via Getty Images

Music from the episode

All the Feels Sarah, the Illstrumentalist

The team

Victoria Craig Host, BBC
Stephen Ryan Senior Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Technical Director
Brian Allison Engineer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Rose Conlon Producer
Alex Schroeder Producer