Federal Reserve Continues to Push Against Inflation but the Labor Market Is Pushing Back

Two months into the new year, consumers are spending less, economic growth has slowed, the inflation rate has declined (although arguably not as much as the Fed would like), and the over-heated housing market has cooled.

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Economists and politicians are still debating and recalculating the odds on whether the economy will stumble into a recession or avoid a serious downturn.

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Financial industry lobbyists are becoming increasingly concerned about proposals pending in Congress that would amend the bankruptcy law to provide relief for subprime borrowers at risk of losing their homes.