US consumers cut spending in January more drastically than at any point in the last four years
Yet data released Friday by the Commerce Department also showed that Americans cut their spending last month 0.2% in January from the previous month, likely in part because of unseasonably cold weather. Still, the drop may raise alarms about whether Americans are growing more cautious amid widespread uncertainty about the economic outlook.
U.S. Consumers Cut Spending More Drastically in January Than Any Other Time in the Past Four Years
Photo: U.S. consumers cut back sharply on spending last month, the most since February 2021, even as inflation declined, though stiff tariffs threatened by the White House could disrupt that progress.
The Fed’s preferred inflation gauge cooled last month, but consumer spending sank
The Federal Reserve’s preferred inflation gauge cooled as expected in January; however, the good news came with a red flag for the US economic engine: Consumers pulled back their spending by the most in nearly four years.
Inflation Stayed Sticky in January, Fed’s Preferred Gauge Showed
The central bank wants to see further progress that price pressures are easing before it lowers interest rates again.
Inflation gauge favored by Fed showed prices grew as expected in January
The latest reading of the Federal Reserve's preferred inflation gauge showed that prices rose in line with economists' expectations in January as the inflation fight continues.
Here’s where the Fed’s preferred inflation reading landed in January
Consumer spending, the primary driver of the U.S. economy, saw its biggest drop in four years despite a slight rise in personal income.
Inflation Eased Slightly in January, Fed’s Preferred Gauge Showed
Getting inflation under control since the worst surge in decades has been a bumpy process in recent months. New data on Friday showed a little progress, but also an unexpected pullback in consumer spending,
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