Reported about 1 month ago
In July, US consumer spending showed solid growth of 0.5%, indicating continued economic stability, despite a rise in the unemployment rate to 4.3%. Although inflation also rose moderately, the data suggests that a significant interest rate cut by the Federal Reserve may not be warranted, as consumer activity remains robust and supports economic momentum. The Federal Reserve is expected to carefully consider the upcoming employment report when determining future rate changes.
Source: YAHOO