Biden vows to veto Republican plans that threaten economic ‘chaos’ – as it happened

• I will not let that happen - not on my watch', president says
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The US economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession, the Associated Press reports.

Thursday's estimate from the Commerce Department showed that the nation's gross domestic product (GDP)- the broadest gauge of economic output - decelerated last quarter from the 3.2% annual growth rate it had posted from July through September.