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The Federal Reserve is risking tipping the economy into contraction by not cutting interest rates now, according to the author of a time-tested rule for when recessions happen. Economist Claudia Sahm has shown that when the unemployment rate’s three-month average is half a percentage point higher than its 12-month low, the economy is in recession. As the ...
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A chorus of Federal Reserve officials on Tuesday emphasized the need for more evidence of cooling inflation before lowering interest rates, with a couple policymakers offering insight into the potential timing of such a move. Fed Governor Adriana Kugler said it will likely be appropriate for the central bank to cut rates “sometime later this year” if ...
Sessions