Fed Will Be Tested in 2021 as Vaccines Boost U.S. Economic Outlook | Investing News

(Reuters) – If 2020 was the year the Federal Reserve overhauled its game plan for supporting the U.S. economy, 2021 will be the year its new approach gets tested should a coronavirus vaccine deliver the lift that many analysts expect.

In its final policy meeting of the year this week, the U.S. central bank is expected to keep its key overnight interest rate pinned near zero and to signal it will stay there for years to come; many analysts also expect new guidance on how long the Fed will keep up its massive bond-buying program.

The super-easy monetary policy is part of a long-term strategy the Fed adopted in August to help it navigate a world of persistently low interest rates that limits the central bank’s options for fighting downturns and makes it difficult to hit its 2% inflation goal.

The idea is to counteract any unhealthy downward drag on

Read More

General Motors to Invest $76M To Boost Pickup Truck Manufacturing

Automaker General Motors  (GM) – Get Report on Monday said it plans to invest $76 million in two of its manufacturing plants in New York and Ohio to increase the manufacturing capacity of its pickup trucks.

The Warren, Mich., company will invest roughly $70 million into its Tonawanda, New York engine plant and more than $6 million into its Parma, Ohio metal stamping plant.

The Tonawanda plant investment will be used to increase manufacturing capacity for engines used in GM’s Chevrolet Silverado and GMC Sierra HD pickups, among others.

“GM continues to invest to strengthen our core business and respond to growing customer demand for our full-size pickups,” said Phil Kienle, vice president of North America Manufacturing and Labor Relations, in a statement.

The Parma plant investment will be used to boost production volume for trucks with the construction of four new metal assembly cells, the Detroit carmaker

Read More

UAE, Israel export credit agencies sign agreement to boost trade

DUBAI (Reuters) – The export credit agencies of the United Arab Emirates (UAE) and Israel have signed a cooperation agreement to develop economic relations between the two countries, the UAE’s state news agency WAM said.

a harbor filled with lots of traffic: The flags of the U.S., United Arab Emirates, Israel and Bahrain flutter along a road in Netanya

© Reuters/NIR ELIAS
The flags of the U.S., United Arab Emirates, Israel and Bahrain flutter along a road in Netanya

Etihad Credit Insurance and the Israel Foreign Trade Risks Insurance Corporation (ASHR’A) plan to support jointly exports, trade, and investment between the two countries, WAM said.


Load Error

Since the UAE and Israel agreed to normalise relations in August, the two countries have signed a series of accords to boost economic and business ties.

The annual exchange of trade between Israel and the UAE across several industries is expected to reach $4 billion per year, the WAM report said.

“With state guarantees from both countries, this deal will encourage exports and investments, help minimise political

Read More