“Federal Reserve officials are starting to reassess their outlook for the economy as global weakness and disappointing data on American consumer spending test their resolve to raise interest rates this year. Plunging yields on U.S. Treasury debt are sending conflicting signals about the outlook for the world’s largest economy: on the one hand, they reflect stronger demand for U.S. assets as growth elsewhere falters. On the other hand, they may portend further downward pressure on inflation.”
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