What makes the US economy so resilient? ...Middle East

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What makes the US economy so resilient?
The Federal Reserve’s decision to keep interest rates on hold at last week’s Federal Open Market Committee meeting was widely anticipated by investors, who remain hopeful that the tightening cycle is nearing an end. However, the latest FOMC projections indicate that the funds rate could be increased one more time this year and stay high next year.   The main surprise thus far is the economy’s ability to weather rate hikes of 525 basis points over the past 18 months. The term “resilience” is widely used to describe what has happened.  Yet, this begs the question: “Why is the U.S. economy so resilient?” To answer it, one needs to consider factors that have made the U.S. economy highly

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