Reports from the Commerce Department contained some mixed news for the economy. First, consumer spending growth slowed in October to 0.2% from 0.7% in September.
This downbeat news was offset by better inflation numbers as the personal-consumption expenditures price index continued its downward trajectory.
Here's the Journal article:
Consumers Pulled Back on Spending, Inflation Eased in October
The Fed is poised to leave rates unchanged in December as price pressures ease.
Gwynn Guilford
However, before you get too excited, Trueflation's real-time inflation index has ticked up above 3% for the first time since last October and more than 1% above the early June low. Something to watch...
