Federal Reserve Holds Off on Rate Hike But Warns of Future Increases to Fight Inflation
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The Federal Reserve held off on raising interest rates again, but warned future hikes are still possible as it fights inflation.
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The economy has shown resilience, avoiding predicted recessions, helping President Biden politically despite poor approval ratings.
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Potential crises like the auto strike were averted, but economists expect growth to slow as consumer spending eases up.
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Economists admit uncertainty makes predicting recession odds difficult, though most see heightened risk in 2023.
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Factors like strong job growth have fueled consumer spending, but it likely can't be sustained at current levels long-term.