How has consumer confidence been affected according to the text?
U.S. Economy Shrank 1.6% To Start Year
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The video discusses a 1.6% GDP decline, highlighting factors like reduced exports and government spending. It notes growing recession concerns amid high inflation. Fed Chair Jerome Powell expresses optimism about avoiding a recession but acknowledges inflation challenges. The upcoming PCE report may provide further economic insights.
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What is the significance of the upcoming PCE report mentioned in the text?
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