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Week Ahead – ECB meeting and US GDP to shake FX markets
video The US economic machine continues to fire on all cylinders. Shielded by the government’s enormous deficit spending and the slow transmission of high interest rates because of fixed-rate mortgages, the United States has defied expectations of an economic slowdown and instead enjoyed a stellar performance this year. Beyond the Biden administration’s heavy spending, a historically tight labor market has also helped support household incomes, keeping consumption on a solid footing. Overall, it appears that the US economy reaccelerated over the summer, something the upcoming GDP numbers will probably confirm ... (full story)