The economy grew 3.4 percent in the third quarter, the fastest pace in a year. Strong spending and growth contrast with the poor marks many voters are giving the economy.
The Personal Consumption Expenditures index picked up in September, according to data released a day after the Federal Reserveβs decision to hold interest rates steady.
Kevin M. Warsh, chairman of the Federal Reserve, said that the central bank had more work to do to tame inflation, but that there was no urgency to raise rates at consecutive meetings.
Kevin M. Warsh, chairman of the Federal Reserve, said that the central bank had more work to do to tame inflation, but that there was no urgency to raise rates at consecutive meetings.
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