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The Federal Reserve has landed a hot U.S. economy softly before. It has also helped usher in a recession and nearly doubled unemployment.Which will be this time? Our current Fed captain hasn’t offered too many opinions about how we might land, but he’s sounded modestly optimistic at times this year.“The economy can return to 2% inflation without a really significant downturn or a really big increase in unemployment,” Fed Chairman Jerome Powell said in early February. “Many, many forecasters would say it’s not the most likely outcome. I would say there’s a chance of it.”Since then he hasn’t given us much more to work with. Tray tables up and heads between our knees? Or just enjoy the view from 30,000 feet?Powell and the committee have seen several important data points – including slowing job growth and inflation – in recent days before this week’s committee meeting, but many say the Fed isn’t done and at least one more rate increase is in the offing.So probably t …
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