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David Donabedian, CIO of CIBC Private Wealth U.S., warned the spike in core inflation seen in the latest GDP report is a major setback for the economy and the Fed.
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The possibility that the U.S. economy could enter a period of stagflation came into focus Thursday as the quarterly GDP report showed a sharp slowdown in growth and a surprising surge in inflation.
Washington — The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pa...
WASHINGTON -- Growth in the nation's economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers -- the main driver of the economy -- kept spending at a solid pace.
WASHINGTON (AP) — The nation's economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver