Soft July spending and modest inflation reinforce Fed hold

Bloomberg · 2 days ago
  • July’s personal income and outlays report showed a relatively modest increase in the underlying pace of inflation.
  • Real spending was soft, and spending concentrated in essentials indicated a deceleration in underlying consumption.
  • The earlier-than-usual Amazon Prime Day temporarily exaggerated the reported weakness in spending.

Quotes

The weakness was exaggerated by temporary factors such as the earlier-than-usual Amazon Prime DayBloomberg

Sources