NEW YORK, March 7 — Global stocks were mixed yesterday ahead of key Federal Reserve congressional testimony as China set a lower-than-expected target for 2023 economic growth.
This would provide hints on what policymakers are thinking about price pressures, influencing the market’s movements.But much of the key data that will inform the Fed’s next meeting will come after the hearings, including Friday’s government jobs report for February. The world’s second-largest economy grew three per cent last year, missing its target of around 5.5 per cent under the impact of strict Covid-19 containment policies and a property crisis.“China set itself one of the lowest gross domestic product targets in many years, hinting to investors that the big reopening boom may not be as positive for the global economy as hoped,” noted Neil Wilson, chief market analyst at Finalto trading group.