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Economy Slows as Inflation Surges
Published 1 week, 5 days ago
Description
Economy’s growth slows as Q1 GDP dips to 1.6%, dragged by weaker consumer spending and business restocking, while inflation surges to a 3.8% annual jump—led by soaring energy prices—pushing the Fed toward a delicate balancing act between jobs and prices, with housing sales plummeting amid higher mortgage rates and rising home costs.
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