"Given this backdrop, the Fed is likely to sound more upbeat on growth prospects than its April statement, " Maki said, speculating that the Fed may say that the economy looks on track to return to growth over the next few months.

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Given this judicial backdrop to the language of the Smith Act, the lawyer representing a U.S.company which retains Shariah authorities must be critically aware of several threatening circumstances.

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This is particularly impressive given the backdrop of a challenging macroeconomic environment.

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