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The world's pandemic rebound

Data: IMF World Economic Outlook; Chart: Will Chase/Axios

The global economy will end this year 2.5% larger than the end of 2019, according to new (rosier) forecasts from the IMF.

Why it matters: The overall growth rate of 6% in 2021 masks a huge range between countries.


For instance: India is projected to grow at a 12.5% pace this year, while Nigeria will only grow by 2.5%.

The big picture: Europe is going to end 2021 with a smaller economy than it had at the end of 2019. Asia, however, is seeing torrid growth, led by both China and India.

  • The United States is doing extremely well by developed-country standards, with tailwinds from both widespread vaccinations and more than $5 trillion in economic stimulus.

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New England power fight foreshadows divisive clean energy future

It wasn’t his first choice, but Sean Mahoney isn’t fighting a 150-mile proposed power line sending Canadian hydropower to New England as part of the region’s climate-change goals.

Why he matters: Mahoney, a senior expert at the nonprofit Conservation Law Foundation who lives in Maine, is seeking to compromise in a bitter battle over the proposal. Expect more fights like this as President Biden and other political leaders pursue zero-carbon economies over the next 30 years.

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Hurricane Ida's economic toll

Wall Street is only slightly adjusting estimates for how the economy will fare to reflect the impact of Hurricane Ida.

Why it matters: The muted national economic impact that’s been penciled in doesn’t capture the human cost of the historic storm: millions displaced or without power as Southeast residents now brace for flash flooding.

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California wildfires, including the Caldor Fire, worsen amid "critical" wildfire danger

The National Weather Service on Tuesday declared red flag warnings over a vast stretch of the West, including California, Nevada and Montana, prompted by projected strong winds, high temperatures and drought conditions.

Why it matters: In Northern California, where fuel moisture and flammability are especially conductive to extreme wildfire behavior, multiple communities were ordered to evacuate on Monday night and Tuesday because of the rapidly growing Caldor Fire in El Dorado County.

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Trump-backed Mike Carey wins GOP primary in Ohio's 15th district

Coal lobbyist Mike Care won the Republican nomination for Ohio's 15th congressional district on Tuesday, AP reports.

Why it matters: Carey became the favorite in the race after former President Trump endorsed him in June. The seat was previously held by Steve Stivers, who left in May to become president and CEO of the Ohio Chamber of Commerce.

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