Consumer Spending Up, but Trump Grumbling About Fed Economic Policy Continues

Consumers increased their spending in October at the fastest pace in seven months, the Commerce Department said Thursday. The rosy economic report stand in stark contrast to what President Donald Trump has been saying about the economy in recent days as he continues to lambast his hand-picked Fed chairman.

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Powell Demurs on Tax Debate, But Says He Favors Loosening Bank Regulations

Jerome Powell, President Donald Trump’s pick for Federal Reserve chairman, said Tuesday he believes the central bank “can push harder on employment” by allowing the jobless rate to fall below 4 percent, and predicted the economy will grow by about 2.5 percent next year, although he said it would slow after that, due to lagging gains in productivity.

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