"OECD Boosts Global Growth Forecast, Cites Strong US Economy"

The OECD has raised its global growth outlook for 2024, citing an improved outlook in the United States while cutting the euro zone's forecast. The global economy is expected to ease from 3.1% in 2023 to 2.9% in 2024, better than previously expected. The U.S. economy is projected to grow 2.1% in 2024 and 1.7% in 2025, with lower inflation boosting wage growth and triggering interest rate cuts. In contrast, the euro zone's outlook has worsened, with its economy now expected to pick up from 0.5% in 2023 to only 0.6% in 2024. The OECD also anticipates rate cuts by major central banks as inflation pressures subside, with the U.S. Federal Reserve expected to move in the second quarter and the European Central Bank to follow in the third quarter.