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Stubborn services inflation is keeping the Fed on guard
- Investment Management
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- 29.06.23
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US economic growth in the first quarter slowed notably from late 2022, but this was mainly driven by inventory declines. Furthermore, the labour market appears quite resilient, though layoffs have spread beyond the tech sector. We’ll need to see more evidence of a deceleration in services inflation to have confidence in overall inflation returning to 2%, says T. Rowe Price's Blerina Uruçi.