- In his bi-annual testimony before Congress, Fed Chair Powell hammered home the message that the Fed is not done raising rates to fight inflation.
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- Jobless claims held steady at a 20-month high, remaining elevated for a 3rd straight week and signaling the labor market may be softening.
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- Consumer sentiment rose 8% last month to the highest level in 4 months, reflecting greater optimism about inflation and the economy.
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