Fed Hints Economic Pace May Forestall Rising Interest Rates
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WASHINGTON — The economy grew at a moderate, sustainable pace over the last three months, the Federal Reserve said in a report today that indicated the central bank may no longer feel the need to push interest rates higher.
The new survey of economic conditions presented a picture of an economy that was slowing in line with efforts by the Fed over the last year to dampen demand by pushing interest rates higher.
Some economists have raised fears that the central bank’s efforts to fight inflation by pushing interest rates up could topple the country into another recession.
But the Fed saw no evidence of a dangerous slowdown in any sector of the economy, according to the comments submitted by the Fed’s 12 regional banks.
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