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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“The restriction was in place because inflation was elevated,” said Claudia Sahm, chief economist at New Century Advisors and a former Fed economist.
Jerome Powell set to cut Federal Reserve rates again while facing a hazy post-election outlook
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