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Government Officials Mark Progress on Policy as Economic Data Softens – Equities Continue to Surge and Bonds Tread Water

While elected fiscal legislators struggle to agree, appointed monetary officials act on asset purchases. The Biden Administration presented a revised $1.85 trillion social spending and climate spending proposal, Build Back Better, which is scaled down from the original $3.5 trillion. It is intended to help ease passage of the $1 trillion infrastructure bill, which has …

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