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Economic Analysis

The Devil You Know: July 29, 2023

Good morning and welcome to the Weekender for Saturday, July 29,2023. Equity markets, as measured by the S&P 500, were higher again by 1.0%. Stocks hit the highest level over a year this week after the Federal Reserve lifted rates by 0.25%, as was widely expected. At the same time, second-quarter GDP figures came in better than expected at +2.4%, kept afloat by credit-fueled consumer spending that continues to expand.

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