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Economy surges 4.8 percent in Q2 fans rate fears
The Commerce Department reports the US economy grew at a 4.8 percent annual rate in the second quarter, faster than the initial 4.2 percent estimate and the strongest in two years. The gain broadens hopes for policy, but the trade deficit and inflation risks keep interest-rate worries alive. Federal Reserve officials had signaled possible rate hikes if growth does not slow, with Greenspan warning of action to curb inflation if needed.
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Clinton
Bob Dole
United States
Federal Reserve
Fed
Alan Greenspan
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