2022: The Year King and Snow Crab Came Down to Earth
Spending by U.S. households rose 0.1% in November from the prior month according to the Commerce Department. This compares to a 0.9% gain in November. Consumers continued to boost spending on services while cutting back on goods. The Feds preferred view of inflation is the personal-consumption expenditure price index that cooled to 5.5% in November vs 6.1% in October. The Fed has raised interest rates seven times in 2022 and is expected to increase again at a lower 0.25% at the January meeting. More than two-thirds...
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