The global economy will grow 3.1% this year, the World Bank said in an upgraded forecast, according to the Associated Press. The U.S. economy will grow 2.5% percent — slightly faster than previously forecast because of a boost from the tax bill.

Why it matters: The world's economies are simultaneously growing faster than have in years, but the bank warned that rising interest rates or "threats posed by rising trade protectionism" could prompt a downturn