American consumers pulled back in April as a sign of elevated interest rates weighing further on overall demand as fiscal spending from the pandemic wanes. The material slowdown of the labor market in April was also a key factor with income growth essentially unchanged on an inflation-adjusted ... READ MORE >
personal consumption expenditures index
American consumers continue to spend despite sticky inflation
Spending remained strong in March on the heels of robust income growth despite sticky inflation, according to Commerce Department data released on Friday. The data pointed to the underlying strength of the economy and provided a rebuttal of sorts to the disappointing gross domestic product figure ... READ MORE >
FOMC preview and the logic of Fed rate cuts in 2024
After nearly two years of raising the federal funds rate to restore price stability, the Federal Reserve is poised to all but declare that campaign to be over at its meeting next week. While the Federal Open Market Committee is likely to keep its policy statement largely unchanged, that statement ... READ MORE >