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Market Whiplash as Jobs Report Undermines Powell’s Less Hawkish Speech

The Breakdown

00:00

Is the Economy Doing Well?

Consumer spending rose by 0.8% in October, despite inflation still running hot at more than 7%. Household disposable income after adjusting for inflation increased by 0.4%, failing to keep up with spending. The savings rate down to 2.3%, which is the lowest level since July 2005.

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