Top-of-mind economic news as we start the week:
— The Federal Reserve kept its key interest rate unchanged, but Chair Powell indicated three rate cuts were possible in 2024.
— The U.S. economy added 353,000 jobs in Jan., the largest gain in a year; wages are up 4.5% in the past 12 months.
— Eurozone GDP was flat in 4th quarter 2023, as interest rate increases have taken a toll on growth while lowering inflation to around 3%.
— China’s major stock markets have lost 10% in the past week; investors are questioning whether government can stabilize prices.
— Global investment in renewable energy rose 17% in 2023 to $1.8 trillion, but that is not enough to attain net zero goals.
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