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More Evidence of U.S. Economic Tailwinds, From Tax Cuts to Jobs

  • ISM manufacturing index rises to highest level since 2004
  • Inflation figures will help Fed stay on track for rate hikes

There’s more evidence now that U.S. economic tailwinds highlighted this week by Federal Reserve Chairman Jerome Powell are gathering strength.

Reports out Thursday showed recent tax cuts buoyed Americans’ spending power in January, unemployment claims fell last week to an almost five-decade low and factories expanded in February at the fastest rate since 2004. In addition, a key price gauge watched by the Fed rose in January by the most in a year.