Powell hints at no rate cuts; inflation concerns persist

Summary: Federal Reserve Chair Powell's recent testimony suggests no rate cuts in the near future due to sticky inflation. Wall Street and Main Street are concerned about the impact of higher rates. Historically, high rates can be positive for growth. Economists debate the Fed's influence on the economy, with calls for gradual rate normalization. Public debt has surged, with interest payments set to exceed $800 billion. GDP growth remains strong.

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