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Fed staff says first quarter slowdown was real, not a fluke of statistics
Reuters: Make no mistake: the U.S. economy's dismal first quarter was, in fact, a dismal first quarter, not a statistical fluke in the way U.S. gross domestic product is measured, Federal Reserve staff concluded on Thursday.
The Fed staffers explored a puzzle noted recently by economists like Justin Wolfers and discussed across the business cable networks - that first quarter GDP growth seems to routinely lag the rest of the year.
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