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Published 2 months ago

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government’s initial estimate

  • The U.S. Economy grew 3.2% in the fourth quarter, led by consumer spending, as reported by the Commerce Department.
  • Consumers spent at a 3% annual rate, with local government spending rising 5.4%, according to the report.
  • The Federal Reserve rates were raised 11 times to combat inflation, with prices up by 3.1% last month, closer to the 2% target.
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