On July 14, Fed Chair Walsh stated that the Fed has 'zero tolerance' for persistently high inflation. Business investment is the most notable feature of the current economy. The U.S. economy remains resilient with a steady pace of growth. Consumption growth is moderate, and the housing market continues to lag. AI opportunities pose challenges for policymakers. The Fed is monitoring the impact of AI on inflation and the labor market. The labor market is generally stable, with nominal wage growth remaining solid.
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Fed Chair Walsh: Fed Has 'Zero Tolerance' for Persistently High Inflation
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