Uneven vaccine access is warping the global economy
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Zanny Minton Beddoes, editor-in-chief of the Economist magazine, explains. Plus, we break down what's driving GDP growth in the U.S. (Hint: It's not the red-hot housing market.) And, a Supreme Court ruling in favor of California fruit farmers arguing that unions organizing on their property was an unconstitutional invasion. It opens the door to other employers who want to block oversight of their workplaces.
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Q1 GDP increased at a 6.4% annualized rate. That's not because of the red-hot housing market, though.
A lot of it is because of consumers getting back out and spending, especially on services, said Diane Swonk, chief economist at Grant Thornton. "We're seeing really strong gains in spending," Swonk said, "the pivot from spending on everything for your home and exercise equipment and things to make it comfortable in quarantine. People want to see and be seen, and they're spending everything from clothing and makeup and luggage to getting out and stepping out and traveling."
The justices have expanded property rights in a number of recent cases.
Zanny Minton Beddoes of the Economist says a lack of virus protection could hinder many nations’ economic recoveries.
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