Claudia Sahm, a former Fed economist and now chief economist at New Century Advisors, said Fed policymakers likely acted out of support for the Fed as an institution.
Federal Reserve showing unexpected unity, independence as it weathers Trump's attacks
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Sahm, now chief economist at New Century Advisors, noted that Commerce downgraded spending on recreation services and foreign travel - which could have reflect ”great consumer pessimism and uncertainty.''
U.S. economy shrank 0.5% in the 1st quarter, worse than earlier estimates had revealed
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