Federal Reserve Chair Jerome Powell, at his final press conference as the central bank chief, declared that the US economy is “quite resilient.” Growth is “solid,” consumer spending is doing “pretty well,” and most of the recent numbers are “good.” Despite the nine-week-old war in Iran that has delivered a second oil price shock in four years, the world’s top economy is weathering the storm, and the latest tranche of data supports his assessment of conditions.
US Economy Is Made of Teflon
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