US Consumer Spending and Core Inflation Firm in January
US consumer spending rose 0.4% in January while core PCE inflation climbed to 3.1% annually. The firm data suggests the Fed will hold interest rates steady.
Xurve View
Xurve View
Consumer spending in the United_States rose more than anticipated in January, as persistent inflation and geopolitical tensions in the Middle East led economists to conclude that the Federal Reserve will likely delay interest rate cuts. According to data released by the Commerce Department’s Bureau of Economic Analysis, consumer spending—which represents more than two-thirds of domestic economic activity—increased by 0.4% following a matching gain in December. This result surpassed the 0.3% growth forecast by analysts.
