BBVA Research Department since 1999 (2005- US Team)
•The World Bank, Ministry of Education, Republic Bank
•BA Studies Economics (ITAM)
•MsC & PhD Studies Economics (Warwick)
April’s job creation was shockingly below expectations. The unemployment rate increased slightly as more people entered the labor force encouraged by vaccinations and reopenings. Overall, labor market conditions suggest that the recovery is still vulnerable.
Strong real GDP growth in 1Q21 on the back of massive fiscal support, accommodative monetary policy, a successful vaccination campaign and the reopening of the economy.
The Fed acknowledged that economic conditions have improved but the recovery remains uneven and incomplete. As we expected, the Fed left interest rates unchanged, maintained the monthly pace of asset purchases and kept its forward guidance unaltered.