ECONOMY
Lawrence H. Summers said the most important indicator for the U.S. economy over the next two to three months will be the Employment Cost index.
The recent woes at SVB and other banks are unlikely to spread, but banks will likely face increased regulations, said AlTi's CIO Nancy Curtin.
China's economy grew 4.5% in the first quarter, beating the market's expectations of 4%, but real estate and private investment numbers remained suppressed.
U.K. GDP growth was flat in February, below consensus estimates and down from January figures, as worker strikes weighed on output.
Trump-era banking legislation "had nothing to do with" the Silicon Valley Bank failure, a top Federal Deposit Insurance Corp. official said.
March's CPI increase of 5% will likely not dissuade the Fed from seeking to hike rates in May and then pause, said Hirtle Callaghan's Brad Conger.
IMF officials forecast global economic growth of 2.8% this year but warn of downside risks, including for financial institutions, in their latest economic outlook.
The U.S. economy added 236,000 jobs in March as the unemployment rate remained steady.
A recession will likely hit the U.S. later this year, but the outlook for the rest of the world is brighter, said Schroders group CIO.
Federal Reserve Governor Lisa D. Cook said the country is still in a "pandemic-related economy," which is contributing to lasting inflation.
