U.S. consumer spending fell for a second straight month in January, as lower gasoline prices continued to weigh on receipts at service stations.
The pace of U.S. manufacturing growth fell in February to its slowest in 13 months.
The Fed may have to get even more aggressive if its efforts to tighten aren't reflected in short-term rates, he said.
U.S. economic growth braked more sharply than initially thought in the fourth quarter, but the underlying fundamentals remained solid.
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