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  "documentTitle": "ey global economic outlook july 2023",
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  "authorName": "EY Parthenon",
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  "notes": "Includes a waterfall-style bar chart for CPI components and a line chart for interest rate projections.",
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      "text": "Sequential Consumer Price Index (CPI) momentum has eased considerably relative to last year, with falling energy and food prices and easing goods prices helping push inflation much lower.",
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      "text": "US m/m percentage change in CPI January 2020-June 2023",
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      "text": "US interest rate forecasts, federal funds rate and 10-year Treasury yield Q1 2017-Q4 2026F",
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      "kind": "disclaimer",
      "text": "1. \"Dot plot\" charts the median interest rate projection from the Federal Open Market Committee. The projections for the federal funds rate are the values at the end of the specified calendar year. Source: Bureau of Labor Statistics; Federal Reserve Board; EY",
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      "kind": "list",
      "text": "The Fed maintained the federal funds rate range unchanged at 5.00%-5.25%... Given our softer growth and inflation outlook, we anticipate the Fed will raise interest rates only once more... While we do not anticipate rate cuts until early 2024...",
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      "text": "Sequential Consumer Price Index (CPI) momentum has eased considerably relative to last year... Looking ahead, slower demand for goods and services, easing housing price inflation, and cooling wage growth will lead to faster disinflation.",
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      "text": "CPI percentage change: 3.0%",
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      "kind": "title",
      "text": "Reduced sequential momentum in inflation confirms the disinflationary process is well underway, despite latent core inflation stickiness",
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      "text": "US outlook",
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