The public remains anxious about what’s ahead.
The economy is still on solid footing and the public still isn’t giving President Joe Biden much credit.
Friday’s middle-of-the-road report reflects a gradual unwinding of tight labor conditions that Federal Reserve Chair Jerome Powell says has helped keep prices elevated despite a rapid escalation in borrowing costs. It’s also a sign the Fed could still achieve the nigh-impossible “soft landing” — taming inflation without sending the economy into a tailspin — big banks and Wall Street economists are increasingly bullish on the possibility.
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