The U.S. economy is chugging along despite the headwinds it faces, Federal Reser...
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“While not everyone fully shares economic opportunities and the economy faces some risks, overall it is — as I like to say —in a good place. Our job is to keep it there as long as possible,” Powell said in brief remarks introducing a “Fed Listens” event at the U.S. central bank’s headquarters in Washington.
U.S. job growth increased moderately in September and the unemployment rate dropped to near a 50-year low, the Labor Department reported on Friday, allaying concerns the economy is nearing recession. U.S. consumer spending, a recent bright spot with outsized importance given it accounts for roughly 70% of economic activity, has shown signs of slowing while earlier this week a key index of manufacturing activity tumbled to a more than 10-year low in September as trade tensions weighed on exports.
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