US has best-performing economy – Fed chief

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WASHINGTON, D.C. — The recent performance of the US economy has been “the best of any major economy in the world,” Federal Reserve (Fed) Chairman Jerome Powell said on Thursday, a week after the bank cut interest rates for a second consecutive meeting.

The US central bank recently started cutting back its key lending rates from a two-decade high, turning attention from tackling inflation to supporting the labor market as the rate of price increases has moderated.

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