Reported 1 day ago
US consumer spending rose only slightly in April as households chose to save more amidst profit and economic uncertainties tied to tariffs. The Commerce Department's report indicates that while inflation is currently low, concerns remain about potential price rises due to ongoing import duties. The economy's growth has slowed since early 2023, and although a reduction in the goods trade deficit may offer a positive outlook, inventory levels show signs of stagnation which could limit GDP growth. The Fed's decision on interest rates remains cautious in light of these trends.
Source: YAHOO