- Jobless claims fell last week to 214K, indicating the labor market remains tight even as demand for labor is cooling.
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- Consumer spending was basically flat in September, up only 0.4% compared to August, but retail sales were still up 8.2% from a year ago.
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- Fed members this week continued emphasizing the need to raise rates into 2023 to curb inflation, even if it causes a recession.
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