The Federal Reserve is unlikely to cut rates this year, as recent data shows a rise in personal income and strong consumer spending. This suggests that there is no retail malaise affecting the economy.
The idea that the Federal Reserve might pare back rates this year is becoming increasingly threadbare, a testament more to wishful thinking than to any discernible reality. Personal income rose 0.3% in February, while spending surged 0.
8%. This data suggests that there is no retail malaise affecting consumer expenditure. Services spending also saw a notable increase of 0.6%, indicating that the rotation out of goods spending may have come to an end.
Federal Reserve Rates Personal Income Consumer Spending Retail Malaise Economy
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