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Economy Statement for the Treasury Borrowing Advisory Committee

Excerpt:  “Recent data indicate that U.S. economic growth slowed in the final quarter of 2024—reflecting in part the impacts of consecutive hurricanes in October as well as labor strikes.  Fourth-quarter data also suggest that labor markets have largely returned to balance, but headline and core inflation both ticked up.  Further moderation is needed before inflation is sustainably consistent with the Federal Reserve’s target.”