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4min chapter
A different way to understand the US economy
Behind the Money
Jerome Powell's Decision to Increase Interest Rates
Many of the indicators we depend on as observers of the economy are just hard to read right now. Jerome Powell should not be looking over bank earnings to decide what to do with rates going forward, he says. The big worry is that activity is still strong enough that for all the progress we have made against inflation, the final progress we need to make will slip out of our grasp.
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