GLOBAL MARKETS-Stocks, dollar edge up as data keeps Fed on track
Yahoo! Finance
U.S. consumer spending fell for a second straight month in December, while inflation continued to subside, the Commerce Department said, allowing the Fed to slow the pace of its interest rate hikes when policymakers meet next week. A 5.0% annualized increase in the personal consumption expenditures (PCE) price index, the smallest gain since September 2021 in the Fed's preferred measure of inflation, indicated progress, said Russell Price, senior economist at Ameriprise Financial, Troy, Michigan...
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