Posted on 01/27/2023 6:12:31 AM PST by ChicagoConservative27
WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed’s series of interest rate hikes are slowing the economy.
Friday’s report from the Commerce Department showed that prices rose 5% last month from a year earlier, down from the 5.5% year-over-year increase in November. It was the third straight drop.
Consumer spending fell 0.2% from November to December and was revised lower to show a drop of 0.1% from October to November. Last year’s holiday sales were sluggish for many retailers, and the overall spending figures for the final two months of 2022 were the weakest in two years.
(Excerpt) Read more at breitbart.com ...
More like the fed. Slow Joe doesn’t even know.
They choked out the middle class until they were too broke to buy anything and inflation slowed a little bit. Yay!
Fair trials and a hanging if found guilty are called for.
As I always say, “And these are the smart people doing this.” I then think no it is the incompetent, but really it is the devious.
they changed the way it’s calculated again....
The electric bill here in northern CT did not rise by 5%.
The cost per kilowatt hour just doubled this month.
That is not a typo.
Doubled.
Sounds like a great time to buy an EV before the prices double again..... /s
Every corporate budget forecast in the state just got shredded—the next meeting will be a discussion of how quickly operations can be moved out of state.
Dems will be cheering... “only” 5.5%!
*spit*
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