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

The Breakdown

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The Federal Reserve's Beige Book - Economic Outlook for the Fourth Quarter

Strong consumer spending is driving high predictions of growth for the fourth quarter, despite recession fears. The Institute for Supply Management's data showed a contraction in the manufacturing sector for the first time since May 2020. Business surveys released in late November painted a picture of a slowing global economy, but nowhere near as bad as some economists have feared.

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