US Consumer Spending Disappoints

US consumer spending failed to match predictions rising only 0.2 percent for the month of September. During the same month, incomes fell by 0.1 percent.

“The quarter ended on a softer note,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York. The report “reinforces the case for the Fed to act this week. It’s getting harder and harder to argue inflation is near where the Fed wants it to be.”

Source: Bloomberg

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