Global stocks drop after Fed's upbeat economic outlook dents chances of more stimulus

Reuters Global stocks slid on Thursday, while the dollar edged up, after the US Federal Reserve gave no indication that any new stimulus measures would be forthcoming, as the economy continues to recover from the effects of the coronavirus pandemic.In its last meeting before US presidential elections in November, the Fed raised its forecasts for US economic growth, inflation and predicted unemployment will shrink faster than it expected three months ago. "But, should you keep feeding them?"The Fed signaled it will not raise US rates until at least 2023."While risk assets might love the intravenous drip of monetary stimulus, it is time to focus on policies that the real economy need …  Perhaps the market reaction here is more a realization of this and the fact that any resolution to the current impasse is unlikely until the Presidential election outcome is determined," Carnell said.