US Inflation Remains Steady as Consumer Spending Continues
TL;DR
The US inflation gauge remained steady in July at 2.6%, with core inflation slightly rising to 2.9%, indicating persistent inflation above the Fed's 2% target. Consumer spending increased significantly, and incomes rose, supporting the likelihood of a rate cut by the Fed next month, despite political pressure from President Trump to lower interest rates.
Topics:top-newseconomy#consumer-spending#core-inflation#economy#federal-reserve#inflation#interest-rates
- Key US inflation gauge holds mostly steady though core inflation ticks higher Yahoo Finance
- Core inflation rose to 2.9% in July, as expected, key Fed measure shows CNBC
- US Consumer Spending Rises Firmly Despite Stubborn Inflation Bloomberg.com
- Americans kept spending last month despite elevated inflation CNN
- PCE Inflation Stayed Stable in July, Keeping Fed on Track to Lower Interest Rates The New York Times
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