Consumer spending unexpectedly fell in January while the annual increase in inflation slowed, supporting financial market expectations that the Federal Reserve would resume cutting interest rates in June.
Read More US consumer spending declines; annual inflation subsides
U.S. consumer prices came in higher than expected in January as inflation showed few signs of slowing down.
Read More U.S. Inflation Surges To 3% In January, Slashing Hopes Of Interest Rate Cuts
Anthony Saccaro, President of Providence Financial and Insurance Services, joins Alicia Summers to discuss what’s driving consumer spending despite inflation, the Federal Reserve’s decision to keep interest rates steady, and what this means for the economy.
Read More U.S. Economy Grows 2.3% In Q4, Consumer Spending Increases Despite Inflation And High Interest Rates
The number of Americans filing new applications for unemployment benefits fell to an 11-month low last week, pointing to a stable labor market.
Read More US weekly jobless claims fall to 11-month low as labor market remains stable
With CVS, Big Lots, and other businesses closing several locations across the U.S. this year, the number of store closures is up by 69%, increasing tremendously in 2024.
Read More Retail, Chain Store Closures Have Surged 69% In 2024: Which Were Affected?
More people continued to collect unemployment checks at the end of November relative to the beginning of the year as demand for labor cools.
Read More US weekly jobless claims unexpectedly rise