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Spending is expecting to shift to services from goods through the rest of the year

stocks rebound

Although U.S. stocks have performed well, valuations are looking pricey

The U.S. saw inflation rise by 5% over the last 12 months, the biggest jump since 2008

The central bank can help assess risks, but Fed chair Jerome Powell said the private sector, elected officials must take the lead

Many companies are struggling to find enough workers, even as the economy rapidly recovers

Business owner checking stock

U.S. jobless claims declined for the fifth week in a row to 385,000

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Growth in April and May accelerated despite supply disruptions

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That's a pullback from the 4.7% spending surge in March, but the drop was expected

Many economists are forecasting that the U.S. economy will grow between 6% and 7% this year

The number of weekly applications for jobless aid has fallen by more than half since January