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The Recession
Powells speech highlighted the uncertainties surrounding the economy and the complexity of the Feds response to it.
Economic forecasters increasingly see a soft landing for the economy, a win for President Joe Biden.
Spiking interest rates, market crashes and a deep recession would all be likely, economists say.
The economy got a boost last quarter from resilient consumer spending and the restocking of supplies by businesses.
WHAT'S HAPPENING
Recent data suggests a recession may be less likely than previously feared -- but some firms seem to be copying each other's layoff strategies.
CEO Satya Nadella pointed towidespread fears of recession and a downturn in consumer demand, which have led to similar cutbacks by other tech giants.
The Treasury secretary said inflation is showing signs of easing and is on track to be lower by the end of 2023.
Republican lawmakers may balk at providing extra unemployment insurance benefits.
Republicans dismissed the positive third-quarter GDP report after treating the first two negative quarters as gospel.
"Is the abortion issue important? Yes. But we have also got to focus on the struggles of working people to put food on their table," the senator said.
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