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That could mean that this could be a excessive level for the White House — one which it’s attempting to embrace, even because it tries to sustain the progress. How a lot the Fed slows down the economy this yr may have necessary political implications. Fed rate increases are most likely to gradual hiring, trigger stock and different asset costs to fall, and weaken the market for big purchases like houses and cars. Service industries have been hit hard in January as the latest coronavirus surge led to absences among staff, kept prospects away and compounded provide constraints. Perhaps no sector was struck more durable than the restaurant and bar trade. In some ways, the massive story of this report will be the revisions.
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