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In March, just before the most recent GDP info, Powell stated a combination of elevated inflation and economic fortitude presented the Fed an opportunity to hold fees constant at very elevated stages, Because the central bank ran tiny immediate danger of triggering a downturn.
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Economists who not more info too long ago spoke to ABC Information downplayed any alarm lifted by GDP acquiring very last week, saying resilient consumer expending proceeds to propel steady development.
That strategy has amounted to a chronic pause in the aggressive charge hiking cycle that commenced about two decades back if the central financial institution sought to rein in speedy cost improves.
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