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US ECONOMY BRUSHES ASIDE RECESSION FEARMONGERING WITH STRONG Q4 PERFORMANCE

NEWS Desk Global



The U.S. economy grew faster in the fourth quarter than expected amid strong consumer spending. The Federal Reserve aggressively raised interest rates, with growth for the full year coming in at 2.5%.

On Thursday, the Commerce Department's advance fourth-quarter gross domestic product also showed inflation pressures subsiding further. The strong economic performance suggested that March would be too soon for the U.S. central bank to start cutting interest rates. However, rate cuts this year, remain in the cards as inflation cools.

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