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Key points:

  • US economic growth estimate for 2021 raised to 7% to 7.5% after passing of stimulus package.
  • 70% vaccination milestone likely to be reached in May in UK and September in EU.
  • Fed still has a way to go before it considers raising the target for its benchmark federal funds rate.
  • Vanguard optimistic emerging markets will grow by more than the 6% we expected at end-2020.


For advisers: Vanguard economic and market update

For your clients: Vanguard economic update


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Issued by Vanguard Asset Management, Limited which is authorised and regulated in the UK by the Financial Conduct Authority. Issued by Vanguard Investments Switzerland GmbH.

© 2021 Vanguard Asset Management, Limited. All rights reserved.

© 2021 Vanguard Investments Switzerland GmbH. All rights reserved.