The Fed’s preferred inflation gauge cooled last month, but consumer spending sank
The Federal Reserve’s preferred inflation gauge cooled as expected in January; however, the good news came with a red flag for the US economic engine: Consumers pulled back their spending by the most in nearly four years.
WASHINGTON (NEXSTAR) — A new report out from the Commerce Department shows inflation cooled off slightly last month. The ...
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Spending fell 0.2% for the month. Adjusted for inflation, it sank 0.5%. Those are the biggest monthly declines since February 2021.
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