Mar 7, 2017

Don't get too excited about the global economy

The global economy has perked up over the last six months, with economic growth in Europe and China in particular surprising investors with their relative strength. This has helped drive stock prices higher, but the OECD warned market participants Tuesday that the good news may not last.

Expand chart
Data: OECD, Consensus Economics, Thomson Reuters; Chart: Andrew Witherspoon / Axios

Though growth forecasts are up slightly in the U.S. and Europe, they've actually fallen in Japan. Meanwhile, investors in the U.S. are facing the prospect of much higher interest rates, which will put a damper on stock prices. "In financial markets, there are apparent disconnects between the positive assessment of economic prospects reflected in market valuations and forecasts for the real economy," the OECD said

Why it matters: The OECD says the stock market has gotten ahead of itself of late. They're not predicting a crash, but absent better hard data, we should expect the rally to fade.

Go deeper

Police officer in George Floyd killing arrested

A protester with a sign with George Floyd's last words. Photo: Stephen Maturen/Getty Images

Derek Chauvin, the Minneapolis police officer involved in the killing of George Floyd, was taken into custody Friday by Minnesota's Bureau of Criminal Apprehension, according to the Star Tribune's Briana Bierschbach.

The state of play: Minnesota Department of Public Safety Commissioner John Harrington said that there was no additional charging information yet, as that decision is in the jurisdiction of the Hennepin County Attorney's Office.

This is a breaking news story and will be updated.

Trump forces fateful choices on Twitter and Facebook

Illustration: Sarah Grillo/Axios

President Trump's war with Twitter is confronting social media platforms with a hard dilemma: whether to take fuller responsibility for what people say on their services, or to step back and assume a more quasi-governmental role.

The big picture: Facebook is trying to be more like a government committing to impartiality and protecting free speech and building mechanisms for arbitration. Twitter, pushed by Trump's inflammatory messages, is opting to more aggressively enforce conduct rules on its private property, like a mall owner enforcing rules inside the gates.

Updated 38 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 5,851,494 — Total deaths: 362,238 — Total recoveries — 2,445,181Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 1,729,185 — Total deaths: 101,706 — Total recoveries: 399,991 — Total tested: 15,646,041Map.
  3. 2020: North Carolina asks RNC if convention will honor Trump's wish for no masks or social distancing.
  4. Public health: Hydroxychloroquine prescription fills exploded in March —How the U.S. might distribute a vaccine.
  5. Transportation: National mobility keeps rising as more states reopen economies.
  6. 🎧 Podcast: Saying goodbye to U.S. megacities.